Company reaches goal of $30 million in annualized revenue by mid-2012
HOUSTON, TX – July 24, 2012 – Alert Logic (www.alertlogic.com), the leading provider of Security-as-a-Service (SaaS) solutions for the cloud, today announced GAAP revenues for the quarter ending June 30, 2012 of $7.3 million, up 42 percent from the second quarter of 2011, and up over nine percent from the first quarter of 2012. Alert Logic’s annualized revenue run-rate in the month of June 2012 was more than $30 million – marking the successful achievement of an important growth milestone for the company.
“In Q1, we announced our goal of breaking through the $30 million revenue level by mid-year,” said Gray Hall, president and CEO of Alert Logic. “I’m pleased to report we reached this goal, and we remain on course to exceed our business objectives for the year. Our unique business model, featuring a broad portfolio of security products and managed security services for customers of hosting and cloud providers, allows us to continue meeting the needs of one of the fastest-growing markets in the IT industry – business customers who want to move to the cloud and need advanced security solutions for business critical applications.”
Alert Logic’s notable highlights during the second quarter include:
Although privately held, Alert Logic publicly reports its 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 Generally Accepted Accounting Principles (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 service provider partners.
Alert Logic specializes in providing a portfolio of SaaS 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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