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 first quarter (Q1 2025) in the company’s history, for the quarter ending March 31, 2025 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 17th consecutive quarter. ExaGrid added over 150 new customers in the quarter. ExaGrid continues to have 75% of its new logo customer bookings come from six- and seven-figure purchase orders. ExaGrid now has more than 4,600 active upper mid-market to large enterprise customers that use ExaGrid Tiered Backup Storage to store and protect their data.
ExaGrid is a financially strong company generating positive cash each quarter and having zero debt of any kind.
Highlights of Q1 2025:
- Added 155 new customers
- 17th consecutive quarter of Cash, EBITDA, and P&L positive operations
- Shipped external key management for encrypted data at rest and support for NetBackup Flex appliances
- Continued recognition in industry publications:
- Sam Elbeck of ExaGrid recognized in Prestigious 2025 CRN® Channel Chiefs List
- Network Computing Magazine published an independent product review, for ExaGrid’s S3 Object Storage for Veeam
- Andy Walsky of ExaGrid named to the 2025 CRN® UK Channel Leaders List for EMEA
- Andy Walsky of ExaGrid recognized in the 2025 CRN® Asia Channel Leaders List for APAC
- ExaGrid listed in the 2025 CRN® Partner Program Guide
“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 well over 4,600 active customer installations worldwide. ExaGrid continues to have an over 70% competitive win rate replacing primary storage behind the backup application, as well as inline deduplication appliances such as Dell Data Domain and HPE StoreOnce.
“ExaGrid prides itself on having a product with an architecture built for backup storage 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. In addition, we have more than 300 published customer success stories on our website, more than any other backup storage vendor in the world, as well as over 200 Gartner Peer Insights reviews.
