Annualized Revenue Run Rate of Cohesity at $300 Million in Most Recent Quarter

Cohesity, Inc. announced record 4FQ21 and FY21 results, ending on July 31, 2021.

Fueled by strong demand for the company’s next-gen data management technology, it saw a large increase in the number of Fortune 500 companies embracing its technology. It also delivered results that further emphasize the success of the company’s subscription-based software model.

Its next-gen approach to data management provides simplicity at scale, ransomware protection built on the principles of zero trust security, and AI-powered insights to make it easier for companies to derive value from data.

“Our record-breaking results underscore the tremendous value our unique next-gen data management platform offers our customers,” said Mohit Aron, CEO and founder. “More businesses than ever trust Cohesity to manage their data in a world in which ransomware attacks are soaring, hybrid cloud is the norm, and the need to derive value from data has never been greater.“

Financial Highlights:
• Strong subscription business: Annualized revenue run (ARR) rate surpassed $300 million in the most recent quarter. The company also achieved more than a 70% increase Y/Y in annual recurring revenue (July 31, 2021 over July 31, 2020).
• Strong net expansion rate: Net expansion rate – or the rate of expansion net of churn from existing customers over the last year – continues to exceed 130% as of July 31, 2021, a benchmark for leading subscription/SaaS companies. This means that ARR existing customer set grew more than 30% over the last 12 months.
• Customer growth: The firm saw a 40% increase Y/Y (July 31, 2021 over July 31, 2020) in the number of customers doing business with the company, with rapid adoption in the Americas, EMEA, and AsiaPac regions. Customer count is now approximately 2,600.
• Rapid adoption among the Fortune 500: As of the end of 4Q21, nearly 25% of the Fortune 500 do business with Cohesity, an increase of more than 35% Y/Y (July 31, 2021 over July 31, 2020). Customers include 4 of the Fortune top 10 as well as 3 of the top 10 US banks* and 3 of the top 5 US health insurers.**

“In 4FQ21, we had our biggest day, week, month, and quarter, all resulting in our biggest year,” said Robert O’Donovan, CFO. “From rapidly increasing ARR, to an outstanding net expansion rate, to strong customer growth – including impressive gains in the Fortune 500, the company is firing on all cylinders and breaking records at every turn.”

“Our data has never been more important to the success of our business – on the field and off – which is why we rely on Cohesity’s next-gen data management solutions,” said Bill Schlough, senior VP and CIO, San Francisco Giants. “We believe Cohesity’s platform approach, which offers simplicity at scale and security that is designed for the cloud era, is truly unique in the industry. Not only is it far easier to deploy and manage, but it gives us peace of mind knowing our data is backed up, protected, and easily recoverable in this ransomware era.”

“Cohesity offers a next-gen approach to data management by consolidating data and apps onto a single platform called Helios designed for simple management through a single UI,” said Phil Goodwin, research VP, IDC. “Cohesity is aiming to provide a consolidated data management platform across the enterprise, including data centers, cloud, and edge. This could offer many advantages for eliminating data silos when compared to the effort of managing numerous environment-specific tools.”

Expanded Board Leadership:
Over the past 12 months, Cohesity has expanded its board of directors advisors to include Robin Matlock, Bask Iyer, and, most recently, Kimberly Hammonds.
• Kimberly Hammonds: Newest board member, she was previously the group COO of Deutsche Bank AG, where she was the third female in the company’s 150-year history to serve on the management board. She is a former group CIO for the Boeing Company, and advises multiple private technology companies, including Zoom, UiPath, Tenable, and Box.
• Robin Matlock: He joined board in January. She was most recently CMO at VMware. During her 11 years at VMware, she helped shape the company’s business and go to market strategy and played a key role in scaling the company’s revenues from $2 billion to $11 billion. Prior to that, she held senior marketing roles at Imperva and McAfee.
• Bask Iyer: He recently became an advisor. He served as chief information and digital transformation officer for VMware and has more than 30 years of experience executing and driving change at Fortune 100 manufacturing and high-tech companies, including SaaS transformations.

*Based on data from the Federal Reserve Statistical Release
**Based on data from Statista