ExaGrid®, the industry’s only Tiered Backup Storage solution with Retention Time-Lock that includes a non-network-facing tier (creating a tiered air gap), delayed deletes and immutability for ransomware recovery, today announced that it had its strongest third quarter (Q3) in the company’s history, for the quarter ending September 30, 2024 with double digit growth over the same quarter a year ago.
The company was Free Cash Flow (FCF) positive, P&L positive, and EBITDA positive for its 15th consecutive quarter. ExaGrid added 150 new customers in the quarter with 48 that were six- and seven-figure deals. ExaGrid now has more than 4,400 active upper mid-market to large enterprise customers that use ExaGrid Tiered Backup Storage to protect their data.
ExaGrid is a financially stable company generating positive cash each quarter and has zero debt of any kind.
Highlights of Q3 2024:
- Added 150 new customers
- 15th consecutive quarter of Cash, EBITDA, and P&L positive operations
- Release of ExaGrid Version 7.0.0
- Announced support of Commvault Metallic
- Gained recognition in industry publications:
“We are pleased to announce that ExaGrid continues to profitably grow as it keeps us on our path to eventually becoming a billion-dollar company. We are the largest independent backup storage vendor and we’re very healthy, continuing to drive top-line growth while maintaining positive EBITDA, P&L and Free Cash Flow,” said Bill Andrews, President and CEO of ExaGrid. “We’ve hit 4,400 active customer installations worldwide. ExaGrid continues to have an over 70% competitive win rate replacing primary storage behind the backup application, as well as deduplication appliances such as Dell Data Domain and HPE StoreOnce.
“ExaGrid prides itself on having a product that just works, is sized properly, is well-supported, and just gets the job done. We can back up these claims with our 95% net customer retention, NPS score of +81, and the fact that 94% of our customers have our Retention Time-Lock for Ransomware Recovery feature turned on, 92% of our customers report to our automated health reporting system, and 99% of our customers are on our yearly maintenance and support plan,” said Andrews.
