Company achieves 43% year-over-year growth and rapidly approaching $35 million
HOUSTON, TX – October 23, 2012 – Alert Logic, the leading provider of Security-as-a-Service (SaaS) solutions for the cloud, today announced GAAP revenues for the quarter ending September 30, 2012 of $8.0 million, up 43 percent from the third quarter of 2011 and up more than 9 percent from the second quarter of 2012. The company’s annualized revenue run-rate at quarter-end was $33.5 million.
“We capped off another successful quarter of execution and remain on-track to produce $30 million in GAAP revenue for 2012 and achieve a $35 million run-rate by year-end,” said Gray Hall, president and CEO of Alert Logic. “In addition to a strong quarter in sales, we launched our new Web Security Manager product line. In doing so, we transformed a leading web application firewall into a fully managed multi-tenant offering in a matter of months, thereby completing the full product and corporate integration of the acquisition of Armorlogic earlier this year. We already see huge demand for this product line across all of our channels.”
Third quarter highlights 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 cloud 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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