59% Y/Y Growth in Bookings in 1Q23 for Infinidat

Infinidat Ltd achieved record revenue and bookings in 1Q23, with 59% Y/Y growth in bookings.

These results build on the growth and momentum the company achieved in 2022, when Infinidat delivered double-digit growth and profitable, cash low-positive operating results.

“Infinidat achieved record results and one of our highest growth rates in Q1 2023, extending the trajectory of very strong growth and execution we achieved in 2021 and 2022,” said Phil Bullinger, CEO. “The compelling financial advantages and unmatched technical value of our storage solutions are resonating powerfully in today’s enterprise IT environments contending with budget constraints, demanding SLAs, cyber resilience concerns, and operational complexities and uncertainties.“

Given the current turbulence of the world economy and with enterprise IT spending under more scrutiny to deliver greater business value, Infinidat’s solutions, as documented in an IDC Business Value White Paper, reduce Capex and Opex costs to provide an 11-month payback, an average savings per petabyte of $167,000, and 51% more efficient storage management. The company is able to provide this economic value, while still ensuring performance, 100% availability, scalability, and cyber resilience – all with guaranteed SLAs.

Additionally, firm’s technology allows enterprises to modernize their storage infrastructure and consolidate workloads, so IT decision-makers can obtain rapid payback and a compelling ROI with the adoption and expanded use of its enterprise storage solutions.