ExaGrid Announces its Best Q1 Bookings and Revenue, with Double Digit Increase in Revenue YoY

ExaGrid, a reference in backup storage vendor providing Tiered Backup Storage with the most comprehensive security and AI-Powered Retention Time-Lock for Ransomware Recovery, announced that it had a record quarter of bookings and revenue in the first quarter ending March 31, 2026, with double-digit revenue growth over Q1 of 2025.In addition, ExaGrid remained P&L, EBITDA, and free cash flow positive for the 21^st consecutive quarter. The company is 100% debt-free, demonstrating strong financial health as a company.

ExaGrid added 177 new customers in Q1 2026, including 80 six- and seven-figure new customer deals in the quarter. In February, ExaGrid hit a customer milestone with more than 5,000 active-installed upper mid-market to large enterprise customers using Tiered Backup Storage every day to protect their data.

Highlights of Q1 2026:

Strong competitive win rate at 80% for the quarter
Brought on 177 new customers
80 six- and seven-figure new logo customer deals
Customer milestone: Over 5,000 organizations actively installed and using ExaGrid
Sales and support teams in 30 countries and customer installations in over 80 countries
50% of the bookings came from outside of the United States
Company remains Cash, EBITDA, and P&L positive over the last 21 quarters
ExaGrid replaced a record number of Dell Data Domain appliances in the quarter
ExaGrid added 4 all-flash SSD appliance models that scale to a full backup of over 17PB in a single system:
- EX90-SSD, EX135-SSD, EX270-SSD, EX540-SSD, with up to 32 appliances in a single scale-out system
ExaGrid won the “Secondary Storage” award at the first annual StorageNewsletter Awards

“Customers understand that simply using primary storage or older-architecture inline de-dupe appliances as a backup storage target cannot meet today’s requirements around ingest performance, restore performance, scalability, security, ransomware recovery, disaster recovery, and cost up front and over time. ExaGrid is the largest independent backup storage vendor in the world and our Tiered Backup Storage is extremely well-positioned to continue to replace outdated and weaker backup storage solutions,” said Bill Andrews, president and CEO, ExaGrid.

Comments

ExaGrid continues to grow at an impressive pace, consistently validating that its approach addresses a genuine market demand. Twenty-one consecutive quarters of growth is a remarkable achievement, uncommon enough to be considered exceptional, and there is little reason to expect this momentum to slow given the company's current trajectory. As an independent pure-play vendor, ExaGrid occupies a rare position in its space: while competitors treat backup target appliances as just one line item in a broader portfolio, ExaGrid remains entirely focused on this segment. The only comparable exception is Object First, the entry-level solution purpose-built for Veeam, now part of the Swiss software giant's ecosystem.

Looking at the details, new major deals and fresh customer wins have pushed ExaGrid's global deployments beyond 5,000. Notably, Data Domain has been displaced on several occasions, a development likely to draw reactions from competitors. Also worth mentioning is the return of 9LivesData, the company behind NEC HYDRAstor, now launching its own product, High9Stor, a team we met in December at the 65th edition of The IT Press Tour. Their re-entry comes as no surprise, as the market need is very real. It also raises a question we keep coming back to: why hasn't ExaGrid pursued an OEM strategy to accelerate growth, reach underserved geographies, and broadly expand its footprint?

On the product side, the all-flash appliance was a bold yet logical move, and market traction is clearly visible.

Storage Newsletter recognized this with a recent award in the secondary storage category, selected by a jury of seven independent members.