Nexsan Delivers Growth in Sales, Profits and Global Expansion in 2Q23

Nexsan, Inc. announced its continued strong momentum since the start of the calendar year, highlighted by exceeding key revenue targets and improving margins on its product lines.
 
Building on the successes of 1Q, which surpassed aggressive sales targets that it had set, it accelerated growth in 2Q by delivering on a backlog of orders that accumulated during restructuring after the company was acquired by Serene Investment Management LLC.
 
Behind Serene’s guidance and financial backing and CEO Dan Shimmerman’s leadership, Nexsan has achieved positive operational cash flow and realized continued growth in both sales and profitability. This growth was especially strong in APAC, where the company has enjoyed financial results 100% ahead of its regional plan, due in part to an expansion deal with Unitas Vietnam Technology and Training. However, big wins were not limited to APAC in 2Q. The firm also added new customers to its roster, including commercial real estate finance experts Walker & Dunlop.
 
In addition to attracting new customers that are looking to leverage company’s line of storage products built to suit their particular workload and business environment, this past quarter saw an increase in the number of existing customers expanding their Nexsan footprint, including Lutheran Health Care and Savannah College of Art and Design to accommodate their growing business needs. This customer retention is reflected in the 96% customer satisfaction rating that the vendor received in a recent independent survey.
 
“One of the key requirements of any healthcare provider is to ensure that patient records are protected according to corporate and governmental regulatory requirements,” said Duane Peterson, technical specialist, Lutheran Health Care. “We found that Nexsan fit our criteria to a tee. Growing with Nexsan was a no-brainer as our storage needs increased. It’s a great relationship that continues to be an ideal solution for us.”
 
Nexsan recently hosted a virtual global partner event for all its VARs to share the momentum experienced since the beginning of the year and to illustrate its renewed vision for the future.
 
“As a Nexsan partner for over 20 years, we’re so pleased to see and experience Nexsan’s resurgence in the backup storage and ransomware spaces,” said Mark Tuggle, USI Corp. “The reason we partnered with them in the first place was due to the exceptional value they deliver. We’re thrilled to be able to offer their high-quality, reliable, and cost-effective line of storage solutions to our customer base.“
 
With a heightened focus on increasing engagement with its partner community, Nexsan will host local partner events to share product news, explore collaboration opportunities and connect with valued vendors, suppliers, and strategic partners. The first local event will be in Tampa Bay, FL, in late September, with additional events to follow.
 
The company also recently announced that it will once again be attending the NAB Show in New York, October 24-26 to showcase the value, cost-effectiveness and superior quality of its SAN and file storage suite of products that include E-Series, Unity and Assureon Data Vault.
 
“We’re really happy and optimistic with the positive growth we’ve witnessed since Serene’s acquisition and restructuring,” said Shimmerman. “It’s a testament to the hard work we’ve done internally and the loyalty we’re privileged to have from our dedicated global partner network and valued customers. Looking ahead, we’re recruiting in many areas of the company, including key executive roles, and expanding our sales and go-to-market teams. Additionally, we’re working on roadmaps for all our product lines and expect to role these out in the coming months.”