ExaGrid 3Q24 Momentum

ExaGrid Systems Inc. had its strongest 3Q in the company’s history, for the quarter ending September 30, 2024 with double digit growth over the same quarter a year ago.

The company was Free Cash Flow (FCF) positive, P&L positive, and EBITDA positive for its 15^th consecutive quarter. It added 150 new customers in the quarter with 48 that were 6- and 7n-figure deals. It has more than 4,400 active upper mid-market to large enterprise customers that use its Tiered Backup Storage to protect their data.

It is a financially stable company generating positive cash each quarter and has zero debt of any kind.

Highlights of 3Q24:

Added 150 new customers
15^th consecutive quarter of cash, EBITDA, and P&L positive operations
Release of ExaGrid Version 7.0.0
Announced support of Commvault Metallic
Gained recognition in industry publications:
- MES Computing, a brand of The Channel Company, recognized ExaGrid on its 2024 MES Midmarket 100 list
- Enterprise Strategy Group by TechTarget (Enterprise Strategy Group (ESG)) webinar on Successful Ransomware Preparedness in 2024

“We are pleased to announce that ExaGrid continues to profitably grow as it keeps us on our path to eventually becoming a billion-dollar company. We are the largest independent backup storage vendor and we’re very healthy, continuing to drive top-line growth while maintaining positive EBITDA, P&L and Free Cash Flow,” said Bill Andrews, president and CEO. “We’ve hit 4,400 active customer installations worldwide. ExaGrid continues to have an over 70% competitive win rate replacing primary storage behind the backup application, as well as de-dupe appliances such as Dell Data Domain and HPE StoreOnce. ExaGrid prides itself on having a product that just works, is sized properly, is well-supported, and just gets the job done. We can backup these claims with our 95% net customer retention, NPS score of +81, and the fact that 94% of our customers have our Retention Time-Lock for Ransomware Recovery feature turned on, 92% of our customers report to our automated health reporting system, and 99% of our customers are on our yearly maintenance and support plan.“