Q1 2010 sales performance was the best in the company’s eight-year history
HOUSTON, TX, APRIL 5, 2010 —
Alert Logic announced that its Q1 2010 sales performance was the best in the company’s eight-year history. During the quarter ending March 31, 2010, the network security and log management company recorded new sales which exceeded the company’s previous all-time best quarter by more than 23 percent. During Q1 Alert Logic closed long-term recurring revenue contracts producing an additional $2.04 million in Annualized Recurring Revenue (ARR). This brings the company’s total ARR under contract to $13.3 million.
The first quarter of 2010 was Alert Logic’s first full quarter of sales after revising its growth strategy to focus more heavily on sales through its robust channel of IT service provider partners, particularly hosting companies.
“In the fall of 2009, we made a strategic decision to double-down on our bet that the hosting industry will continue to grow rapidly, and that hosting customers need managed security services like ours,” said Gray Hall, Alert Logic’s president & CEO. “So far, our bet seems to be paying off for two key reasons. Our hosting partners are continuing to grow faster than the rest of the IT industry; and, we are effectively leveraging our unique position as the only security software company focused on providing security and regulatory compliance solutions for customers of hosting companies and other IT service providers.”
“We expect the trends driving our accelerating growth rate – the movement of IT infrastructure into the cloud and the demand for security SaaS solutions like ours – to continue,” said Greg Davis, vice president of sales at Alert Logic. “Given this, I am confident we are positioned for strong growth throughout the remainder of 2010.”