ExaGrid: 5th Straight Quarter of Bookings and Revenue Growth

ExaGrid Systems, Inc. had an all-time record bookings and revenue quarter ending March 31, 2022.

This accomplishment was on the back of its 4 record-breaking quarters throughout 2021, increasing both bookings and revenue to all-time high.

Revenue grew sequentially from 4Q21 to 1Q22, and grew in double digits as compared to 1Q21. In addition, it was cash positive in the quarter for the sixth quarter in row.

It added over 150 new customers in 1Q22, including over 40 6- and 7-figure deals, and has more than 3,300 active upper mid-market and enterprise customers that use its Tiered Backup Storage to protect their data. Firm’s growth is accelerating, and the company is hiring over 50 additional inside and field sales staff worldwide.

“ExaGrid’s continued momentum is the result of the ongoing expansion of our sales team and working with our channel partners across the globe. We continue to see that organizations are realizing that primary storage disk is too expensive for longer-term retention and that traditional de-dupe appliances don’t deliver the backup and restore performance needed to ensure that data is always available. ExaGrid offers the best ransomware recovery solution in the industry, which remains top of mind in today’s world,” said Bill Andrews, president and CEO, ExaGrid.

Company’s appliances have a network-facing disk-cache Landing Zone where the most recent backups are written without inline de-dupe for fast backups and are stored in an unde-duped format for fast restores. It uses scale-out architecture, which maintains a fixed-length backup window and also eliminates expensive and disruptive forklift upgrades and product obsolescence. Adaptive de-dupe technology de-dupes the data into a non-network-facing repository where de-duped data is stored for longer-term retention, often for weeks, months and years. The combination of a non-network-facing tier (virtual air gap) plus delayed deletes with ExaGrid’s Retention Time-Lock feature, and immutable data objects, guards vs. the backup data being deleted or encrypted.

Highlights of 1Q22:
• Competitive win rate at 75%
• Brought on more than 150 new customers
• Strong quarter in EMEA and APAC regions
• Over 40 6- and 7-figure new customer deals
• Cash and P&L positive over the last 6 quarters
• More than 3,300 customers protect their data with Tiered Backup Storage

Tiered Backup Storage – Built for Backup
The vendor provides Tiered Backup Storage with a front-end disk-cache Landing Zone, the Performance Tier, which writes data directly to disk for fast backups, and restores directly from disk for the fastest restores and VM boots. The long-term retention data is tiered to a de-duped data repository, the Retention Tier, to reduce the amount of retention storage and resulting cost. This 2-tiered approach provides fast backup and restore performance with lowest cost storage efficiency.

In addition, the company provides a scale-out architecture where appliances are simply added as data grows. Each appliance includes processor, memory and network ports, so as data grows, all resources required are available to maintain a fixed-length backup window. This scale-out storage approach eliminates expensive forklift upgrades, and allows for mixing appliances of different sizes and models in the same scale-out system, which eliminates product obsolescence while protecting IT investments up front and over time.