All-Time Record Revenue for Exagrid in 3Q22

ExaGrid Systems, Inc. had an all-time record bookings and revenue quarter ending September 30, 2022.

Revenue grew over the previous quarter and the same quarter a year ago.

The company is growing at 20% per year while maintaining positive: P&L, EBITDA and free cash flow. It added 156 new customers in 3Q22, including 43 6- and 7-figure deals, and has more than 3,600 active upper mid-market to large 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 results from a highly differentiated product with a 75% competitive win rate and 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 do not deliver the backup and restore performance needed to ensure that data is always available. Organizations face challenges with using de-dupe appliances, including high ongoing costs, poor backup and restore performance, as well as a lack of scalability and ransomware recovery features. ExaGrid offers the best story to fix backup storage, as well as the most unique ransomware recovery solution in the industry. In addition, ExaGrid has the best cost up front and over time, the fastest backup and restore performance, the ability to recover from a natural or man-made site disaster, and the ability to recover data after a ransomware attack, which remains top of mind in today’s world,” said Bill Andrews, president and CEO. “ExaGrid prides itself on having a highly differentiated product that just works, does what we say it does, is sized properly, and is well supported.”

ExaGrid 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 undedu-ped format for fast restores. The vendor uses scale-out architecture, which maintains a fixed-length backup window and also eliminates expensive and disruptive forklift upgrades and product obsolescence. Its 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 3Q22:
• Strong competitive win rate at 75%
• Brought on 156 new customers
• 43 6- and 7-figure new customer deals
• Sales and support teams in 30 countries and customers in over 50 countries
• Company remains cash, EBITDA and P&L positive over the last 8 quarters
• More than 3,600 customers protect their data with Tiered Backup Storage
• Added an approach to Veritas NetBackup for a single target storage pool with scale-out keeping the backup window fixed length as data grows
• NPS Score of +81 with over 300 published customer success stories on the web site and over 100 Peer Insight Reviews with Gartner
 
ExaGrid has physical sales and pre-sales systems engineers in the following countries including Argentina, Australia, Benelux, Brazil, Canada, Chile, CIS, Colombia, Czech Republic, France, Germany, Hong Kong, Iberia, India, Israel, Japan, Mexico, Nordics, Poland, Saudi Arabia, Singapore, South Africa, South Korea, Turkey, UAE, UK, and USA.