Alert Logic Reports Q1 2014 Results
Company surpasses $56M in run-rate revenue and 2,500 customers
HOUSTON, TX – April 24, 2014 – Alert Logic (www.alertlogic.com), the leading provider of Security-as-a-Service solutions for the cloud, today announced GAAP revenues for the quarter ending March 31, 2014 of $12.8 million, up 35 percent from the first quarter of 2013. Alert Logic’s annualized revenue under contract in the month of March 2014 exceeded $56 million, and is tracking ahead of the company’s plan to reach a $60 million run-rate by the end of Q2 2014. Alert Logic currently has more than 2,500 customers using its cloud Security-as-a-Service solutions to protect their networks and data, both via hosting and cloud service providers and direct customers. “Our solid customer base and tremendous partner network is key to our continued growth and success in the security space,” said Gray Hall, Alert Logic’s CEO. “These relationships, along with our industry-leading cloud security solutions, create opportunities for Alert Logic to continue exploring new product capabilities and global distribution channels.” Alert Logic’s notable highlights for Q1 2014 include:
- Product Updates: The company released updated versions of its Alert Logic Threat Manager and Alert Logic Web Security Manager security solutions, underscoring the company’s commitment to support hybrid datacenters with managed security solutions for all environments.
- Recognition: The company received an award for Most Innovative Cloud Security Product as part of Cyber Defense Magazine’s New InfoSec Technologies Awards, highlighting Alert Logic’s distinct, innovative approach to security.
A privately held company, Alert Logic publicly reports its Generally Accepted Accounting Principles (GAAP) revenue results and growth rates quarterly, in addition to its annualized recurring revenue under contract. Alert Logic’s financial statements have been audited in accordance with GAAP since 2005. All Alert Logic revenue is derived through long-term subscription contracts, consistent with the company’s SaaS business model. Alert Logic’s solutions are sold directly to enterprise customers and through a diversified channel of resellers and cloud service provider partners. Alert Logic specializes in providing a portfolio of Security-as-a-Service solutions for customers of hosting and cloud service providers. More than half of the largest managed hosting and cloud service providers use Alert Logic to secure their customer environments, making Alert Logic the de facto standard for securing infrastructure in hosted and cloud environments. Alert Logic’s Security-as-a-Service solutions provide customers four distinct advantages: market- leading security tools, a fully outsourced and managed SaaS delivery model, integrated 24×7 Security Operations Center (SOC) services to monitor and provide expert guidance, and the ability to deploy wherever a customer has IT infrastructure, including the cloud.
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