29% Nakivo MSP Growth WW in 2Q24

Nakivo Inc. announced its 2Q24 financial results.

Revenue: It grew its revenue in the APJ region by 7% in 2Q24 in comparison to 2Q23. In 2Q24, 58% of the total revenue came from the EMEA region, 30% from the Americas, and 12% from the AsiaPac region. The countries delivering the highest revenue growth in 2Q24 were Austria, Denmark, and Greece.

Revenue grew more than 100% Q/Q in Argentina, Austria, Bulgaria, Colombia, Croatia, Denmark, Ecuador,  Greece, Indonesia, Malta, Morocco, Luxembourg, Nepal, New Zealand, Portugal, and Slovakia.

Customers: Nakivo has over 29,000 paid customers in 183 countries. The customer base grew by 12% in 2Q24 over 2Q23. The number of new customers grew by 12% in the EMEA region, by 14% in the AsiaPac region, and by 10% in the Americas. Enterprises continue to choose Nakivo Backup & Replication as their preferred data protection solution, with new deployments growing by 22% in 2Q24 over 2Q23.

A sample of customers in 2Q24 includes Radboud University Medical Center, Uni-Pharma S.A., and Suffolk Otf. The largest deal closed was $120,000 in 2Q24.

Examples of customer success stories in 2Q24 include: Narayani Development Bank Limited, Lab Technologies, and E.W Wylie Corporation.

Technology Partners: In 2Q24, Nakivo delivered its solutions via technology partners, as more enterprises and SMBs chose to install Nakivo Backup & Replication on partner hardware.

Particularly, Asustor NAS installations grew by 8% in 2Q24 vs. 2Q23.

Solution Partners: Nakivo has over 8,000 software solution providers as partners across the Americas, Europe, Africa, the Middle East, and the AsiaPac region. In 2Q24, 223 new solution providers joined the Nakivo Partner Program and offer company’s products to their enterprise and SMB customers. For the first time, the firm gained partners in Guinea, Tajikistan, and Uzbekistan.

MSPs: Firm’s MSP Program enables managed service, cloud, and hosting providers to deliver BaaS, VM replication as a service (RaaS), and VM DRaaS to their clients. In 2Q24, the number of MSPs grew by 29% vs. 2Q23. For the first time, the vendor gained MSP partners in Luxembourg, Mozambique, and Vietnam.

“We saw significant revenue growth in the APJ region for 2Q24, thanks to the strong efforts of our business development team working with our partners to create new opportunities,” stated CEO Bruce Talley. “We upgraded Nakivo Backup & Replication with new features to boost our solution’s recovery and anti-ransomware capabilities, allowing organisations to safeguard their data more effectively.”