ExaGrid’s Q2 2023 Momentum Press Release

ExaGrid Reports Strongest Q2 on Record

News provided by
ExaGrid Systems, Inc.
Jul. 12, 2023 11:40
MARLBOROUGH, MASS.--(Business Wire / Korea Newswire)--ExaGrid®, the industry’s only Tiered Backup Storage solution, today announced that it had its strongest Q2 in the company’s history, for the quarter ending June 30, 2023.

ExaGrid had a record second quarter of 2023 and grew over 27% as compared to Q2 of 2022. ExaGrid continues to grow at well over 20% per year. The company was Cash, P&L, and EBITDA positive for its 10th consecutive quarter. ExaGrid added 135 new customers in Q2 2023, including 50 six- and seven-figure new customer deals. The new customer ASP increased to $119K in the quarter. ExaGrid has more than 3,900 active upper mid-market to large enterprise customers that use ExaGrid Tiered Backup Storage to protect their data. ExaGrid’s growth is accelerating, and the company is hiring to expand its sales teams worldwide.

“ExaGrid is continuing to expand its reach and now has sales teams in more than 30 countries worldwide and customer installations in over 80 countries. We will hit 4,000 active customer installations in Q3. We have achieved our top-line goals for Q1 and Q2. ExaGrid is Cash, P&L, and EBITDA positive for the 10th quarter in a row. Outside of the United States, our business in Canada, Latin America, Europe, the Middle East, Africa, and Asia Pacific is rapidly growing and is now 45% of the business,” said Bill Andrews, President and CEO of ExaGrid.

“Years ago, ExaGrid realized that no vendor was building storage specifically for backup, as they were all selling primary storage products as backup storage targets, which is expensive, or they were selling inline deduplication appliances, which are slow for backups and restores and result in costly forklift upgrades. Backup storage has unique needs, due to large backup jobs, incrementals, synthetic fulls, backup rotation, long-term retention, and many other aspects that make backup storage different than primary storage. ExaGrid’s unique Tiered Backup Storage was built specifically to improve backup performance, restore performance, scalability as data grows, security, ransomware recovery, disaster recovery, and improve the economics of backup, with low costs up front and over time,” said Andrews. “Primary storage is not as fast for large backup jobs, is typically not scalable, is very expensive for longer-term retention, and it is network-facing, making it vulnerable to security attacks. Inline deduplication appliances are slow for backups, slow for restores, are not scalable, and are also network-facing making them vulnerable to security attacks.”

“ExaGrid prides itself on having a highly differentiated product that just works, does what we say it does, is sized properly, is well supported, and just gets the job done. We can back up 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, and 99.1% of our customers are on our yearly maintenance and support plan,” said Andrews.

Highlights of Q2 2023:

· ExaGrid won 5 industry awards in Q2 2023:
- Storage Awards “The Storries XX” - Enterprise Backup Hardware Vendor of the Year
- Storage Awards “The Storries XX” - Immutable Storage Company of the Year
- Network Computing Awards - Bench Tested Product of the Year - Hardware Category
- Network Computing Awards - Company of the Year
- Network Computing Awards - Storage Product of the Year
· Grew over 27% over the same quarter a year ago
· 10th consecutive quarter of Cash, EBITDA, and P&L positive operations

About ExaGrid
ExaGrid provides Tiered Backup Storage with a unique disk-cache Landing Zone, long-term retention repository, and scale-out architecture. ExaGrid’s Landing Zone provides for the fastest backups, restores, and instant VM recoveries. The Repository Tier offers the lowest cost for long-term retention. ExaGrid’s scale-out architecture includes full appliances and ensures a fixed-length backup window as data grows, eliminating expensive forklift upgrades and product obsolescence. ExaGrid offers the only two-tiered backup storage approach with a non-network-facing tier, delayed deletes, and immutable objects to recover from ransomware attacks.

ExaGrid has physical sales and pre-sales systems engineers in the following countries: Argentina, Australia, Benelux, Brazil, Canada, Chile, CIS, Colombia, Czech Republic, France, Germany, Hong Kong, India, Israel, Italy, Japan, Mexico, Nordics, Poland, Portugal, Qatar, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Turkey, United Arab Emirates, United Kingdom, United States, and other regions.

Visit us at exagrid.com or connect with us on LinkedIn. See what our customers have to say about their own ExaGrid experiences and learn why they now spend significantly less time on backup storage in our customer success stories. ExaGrid is proud of our +81 NPS score!

ExaGrid is a registered trademark of ExaGrid Systems, Inc. All other trademarks are the property of their respective holders.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230711117635/en/

Website: http://www.exagrid.com/


Mary Domenichelli