ExaGrid’s Q3 2024 Momentum Press Release
8.10.2024 14:00:00 CEST | Business Wire | Press release
ExaGrid Achieves 15 Consecutive Quarters of Free Cash Flow, EBITDA, and P&L Positive Operations
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.
About ExaGrid
ExaGrid provides Tiered Backup Storage with a unique disk-cache Landing Zone, long-term retention repository, scale-out architecture, and comprehensive security features. ExaGrid’s Landing Zone provides for the fastest backups, restores, and instant VM recoveries. The Repository Tier offers the lowest cost for long-term retention. ExaGrid’s scale-out architecture includes full appliances and ensures a fixed-length backup window as data grows, eliminating expensive forklift upgrades and planned product obsolescence. ExaGrid offers the only two-tiered backup storage approach with a non-network-facing tier (tiered air gap), delayed deletes, and immutable objects to recover from ransomware attacks.
ExaGrid has physical sales and pre-sales systems engineers in the following countries: Argentina, Australia, Benelux, Brazil, Canada, Chile, CIS, Colombia, Czech Republic, France, Germany, Hong Kong, India, Israel, Italy, Japan, Mexico, Nordics, Poland, Portugal, Qatar, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Turkey, United Arab Emirates, United Kingdom, United States, and other regions.
Visit us at exagrid.com or connect with us on LinkedIn. See what our customers have to say about their own ExaGrid experiences and learn why they now spend significantly less time on backup storage in our customer success stories. ExaGrid is proud of our +81 NPS score!
ExaGrid is a registered trademark of ExaGrid Systems, Inc. All other trademarks are the property of their respective holders.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241008828836/en/
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
New England Journal of Medicine Publishes Data from Phase 3 Studies Demonstrating Oveporexton (ORZEYFUL) Improved the Full Range of Narcolepsy Type 1 Symptoms and Quality of Life9.9.2026 14:24:00 CEST | Press release
Data Demonstrated Significant and Clinically Meaningful Improvements with the Potential to Redefine Narcolepsy Type 1 (NT1) Care Beyond Individual Symptoms Oveporexton was Generally Well-Tolerated with Safety Profile Consistent with Previous Clinical Studies Oveporexton is the First and Only Approved Orexin Agonist Designed to Treat the Underlying Cause of NT1 and is Now Approved in the U.S., China and Japan, with Additional Regulatory Submissions Underway Takeda (TSE:4502/NYSE:TAK) announced that the New England Journal of Medicine published results from two Phase 3 studies evaluating oveporexton (ORZEYFUL), an oral orexin receptor 2 (OX2R) agonist, in people with narcolepsy type 1 (NT1).1 Oveporexton is the first and only medicine to treat the underlying cause of NT1. "People living with narcolepsy type 1 face persistent symptoms across the day and night, which can impact many aspects of daily life,” said Emmanuel Mignot, M.D., Ph.D., principal investigator for the FirstLight (TAK-86
ZincFive Launches Next-Generation BMS, Setting a New Standard for Nickel-Zinc Battery Management9.9.2026 14:05:00 CEST | Press release
Purpose-built Battery Management System (BMS) streamlines installation and supports the evolving power demands of AI data centers ZincFive®, the leader in nickel-zinc (NiZn) battery-based solutions for immediate power applications, today launched the ZincFive BMS, a next-generation battery management system purpose-built for its NiZn chemistry, designed and assembled in the U.S. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260909653032/en/ The ZincFive BMS ships standard with every ZincFive BC Series UPS Battery Cabinets, serving as the primary interface for data center operators, UPS OEM partners, and system integrators to monitor and manage ZincFive’s technology. Built on years of experience managing NiZn in real-world data center environments, ZincFive engineered the BMS around the unique characteristics of its NiZn chemistry, rather than adapting a platform designed for lithium-ion or lead-acid batteries. The result is
EIG Announces Final Close of Senior Infrastructure Debt Fund VI With $4.0 Billion Raised Across Its Direct Lending Platform9.9.2026 14:00:00 CEST | Press release
Platform exceeds original $3 billion fundraising target, reflecting broad institutional demand for infrastructure credit EIG, a leading institutional investor in the global energy and infrastructure sectors, today announced the final close of EIG Senior Infrastructure Debt Fund VI (“SIDF VI”) at $1.9 billion, nearly double the size of its predecessor fund. Together with $2.1 billion committed to single investor vehicles, this exceeds the strategy's original $3 billion target and reflects strong demand from investors seeking customized and evergreen exposure to senior infrastructure debt. Since launching in July 2024, SIDF VI has already committed approximately $1 billion across 16 investments, reflecting strong proprietary origination capabilities. SIDF VI seeks to make directly originated, senior secured debt investments across a broad range of sectors, including power generation, renewable energy, energy transition infrastructure, midstream and other critical infrastructure, with a p
CoreTrust Expands International Presence, Extends Global Procurement Platform Across Europe9.9.2026 14:00:00 CEST | Press release
CoreTrust Europe unlocks new growth opportunities for global supplier partners, bringing measurable savings and operational leverage to multinational corporations operating across borders CoreTrust, a premier group purchasing organization (GPO) with more than 20 years of leveraging data-driven procurement intelligence and $7 billion in aggregated spend, today announced the expansion of CoreTrust Europe and its procurement platform to the United Kingdom and key European markets, including France, Germany, Ireland, the Netherlands, Sweden, and Switzerland. While members can enroll when headquartered in these seven markets, CoreTrust’s supplier partners deliver negotiated coverage that reaches members well beyond them. This strategic international expansion answers direct demand from CoreTrust’s private equity partners and multinational members to extend the company’s proven model into large, still-underserved European markets — the same demand-led path CoreTrust has followed for nearly t
FiRa Consortium Appoints Sunil Jogi as President9.9.2026 14:00:00 CEST | Press release
Proven ecosystem leader to guide the next phase of FiRa adoption and innovation The FiRa Consortium® today announced the appointment of Sunil Jogi as President, marking a significant milestone in the organization’s continued growth. Through specifications and certification that build on IEEE 802.15.4, FiRa is strengthening the global ecosystem for secure, interoperable ranging and positioning solutions. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260909016899/en/ Jogi is a respected wireless and semiconductor industry leader with more than 25 years of experience. Throughout his career, he has driven innovation, built global ecosystems, and fostered industry collaboration. His appointment reflects FiRa's commitment to continued growth and stronger alignment across the ultra-wideband (UWB) and broader wireless industries. Jogi previously served on the FiRa Board of Directors and as Co-Chair of the Requirements Working Group
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom