ExaGrid Reports 2Q11 Results

ExaGrid Systems, Inc. announced that for the second fiscal quarter of 2011, sales grew by 40 percent over the same quarter for 2010. During the quarter the company expanded its customer base to more than 1,000 customers and gained significant new market share.
 
Along with sales growth, the company continued to execute in a variety of important areas during the quarter.

Achievements in Q2 2011 include the following:

• Growing Global Market Share: With more than 1,000 customers, ExaGrid grew its customer base and worldwide market share. ExaGrid now has the industry’s second largest installed base of scalable disk backup appliances with deduplication in mid-market and small enterprise companies, with more than 3,500 systems installed at more than 1,400 customer sites worldwide. Approximately 50 percent of ExaGrid’s customers have virtually eliminated tape in their storage environments using ExaGrid appliances for both onsite and offsite disaster recovery backups.
• Demonstrated Technology: ExaGrid introduced the EX13000E disk backup system with deduplication, which sets a new price/performance standard and allows ExaGrid to scale to 130TB full backup with no backup performance degradation and no forklift upgrades.
• Industry Recognition: During the quarter, ExaGrid customer, Strategic Hotels & Resorts, won ‘Best Deployment Scenario – Data Recovery’ in Info Security‘s 2011 Best Deployment Awards. The company was also honored as part of the eighth annual Storage Awards with both the Channel Excellence Award and Storage Magazine ‘One to Watch’ Award.
• Additional Backup Application Support: ExaGrid began shipping of support for Veeam Software’s Backup and Replication application. With the latest enhancement, ExaGrid offers a capability for Veeam customers to instantly recover an entire VM, individual application objects and individual files from the same tested image-based backup. ExaGrid now also support SQL Safe and RedGate for SQL backups. This adds to a list of supported backup applications from Symantec, HP, EMC, CommVault and CA among others.
• More than 250 ExaGridVideo Testimonials: Experiences with ExaGrid are published on the company’s website, including new case studies from Arthritis Foundation, Boston Private Bank, The Field Museum, St. John Fisher College and World Wrestling Entertainment (WWE).
• Worldwide Channel Growth: ExaGrid continued to grow its base of channel partners, including a growing number of regional VARs. ExaGrid delivered 90% percent of the company’s business through channel partners and continued to scale its global channel sales model to meet business demands.

"This has been an exceptional quarter, as we surpassed a major customer milestone and continued to demonstrate our technology leadership allowing our customers to cost-effectively switch from tape backup to reliable disk-based backup with deduplication," said Bill Andrews, president and CEO of ExaGrid Systems. "We are extremely proud of the fact that 250 of our customers are willing to let us publish their case studies highlighting their real-life applications and success with ExaGrid technology. This is a testament to the product quality and our high touch customer support model. ExaGrid continues to be tracking towards an initial public offering in the future."