Company Exceeds $103 Million Run Rate, 3,800 Customers with Q1 2016 Results
Houston, TX – April 20, 2016 — Alert Logic (www.alertlogic.com), the leading provider of Security-as-a-Service solutions for the cloud, today announced its Q1 2016 results. The company recorded $23.7 million in GAAP revenues for the quarter ending March 31, 2016, representing 31 percent year-over-year growth over Q1 2015, and achieved total contracted recurring revenue exceeding a $103 million annualized run-rate. Additionally, the company now has more than 3,800 customers using its Security-as-a-Service solutions to protect their cloud, hybrid or on-premises IT infrastructure.
“Achieving $100 million in annualized run-rate is a significant milestone for a cybersecurity company,” said Gray Hall, CEO of Alert Logic. “This is undeniable evidence of strong cloud adoption and customer validation of our strategic approach to cybersecurity – combining market-leading technologies with 24x7 security monitoring and cloud deployability to secure business critical IT infrastructures.”
Alert Logic’s other notable highlights for Q1 2016 include:
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. 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, the leader in security and compliance solutions for the cloud, provides Security-as-a-Service for on-premises, cloud, and hybrid infrastructures, delivering deep security insight and continuous protection for customers at a lower cost than traditional security solutions. Fully managed by a team of experts, the Alert Logic Security-as-a-Service solution provides network, system and web application protection immediately, wherever your IT infrastructure resides. Alert Logic partners with the leading cloud platforms and hosting providers to protect over 3,800 organizations worldwide. Built for cloud scale, our patented platform stores petabytes of data, analyses over 400 million events and identifies over 50,000 security incidents each month, which are managed by our 24x7 Security Operations Center. Alert Logic, founded in 2002, is headquartered in Houston, Texas, with offices in Seattle, Dallas, Cardiff, Belfast and London. For more information, please visit www.alertlogic.com.
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