Alert Logic Reports 34th Consecutive Quarter of Revenue Growth
Alert Logic announced continued strong revenue growth for its quarter ended June 30, 2010.
Alert Logic announced continued strong revenue growth for its quarter ended June 30, 2010. In the second quarter of 2010, Alert Logic recorded revenue of $3.65 million, up 42% from the second quarter of 2009 and up 15% from the first quarter of 2010. Annualized recurring revenue (ARR) under contract at the close of the quarter totaled $14.5 million, which reflects the addition of $1.2 million of ARR during Q2. In addition to record revenues, Alert Logic posted its fourth consecutive quarter of positive and growing EBITDA.
“Maintaining IT security and compliance with numerous data privacy regulations, such as PCI, continues to be a challenge for our customers and partners,” said Gray Hall, president and CEO of Alert Logic. “Our continued success validates our software-as-a-service and integrated managed services are the most effective way to alleviate this headache.”
Notable Highlights
- Record-setting bookings in the first half of 2010 -- Alert Logic posted the best six months of sales performance in its eight year history, representing a 34% increase from the previous record.
- Extended product leadership -- Alert Logic continued delivering on its announced service provider strategy. During Q2, it entered beta testing for virtual appliance deployments and advanced integration through our Application Programming Interface (API) with select partners. Further, the company announced the fourth consecutive year of certification as a Payment Card Industry Approved Scanning Vendor (PCI ASV).
- Invested significantly in operations infrastructure -- To support its record growth, Alert Logic invested over $1 million in its computing and storage grids in redundant operations in Texas and Georgia.
Augmented leadership team and established New York office --To capitalize on the growth opportunity from within our partner and service provider base, Alert Logic named Randy Rosenbaum as the Director of Partner Development and Urvish Vashi as Vice President of Marketing. Alert Logic also established local staff and an office in New York to support increased demand in the region.
