Alert Logic Reports Q1 2013 Results Growth rate still above 40% as company exceeds $40 million in annualized revenue
HOUSTON, April 10, 2013 /PRNewswire/ -- 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, 2013 of $9.5 million, up 45 percent from the first quarter of 2012, and up 10.6 percent from the fourth quarter of 2012. Alert Logic's annualized revenue run-rate in the month of March 2013 was more than $40 million, and is tracking ahead of the company's plan to reach a $50 million run-rate by the end of 2013.
All channels recorded strong growth, including Alert Logic's cloud and hosting provider partners and resellers. Alert Logic has more than 2,100 customers using its Security-as-a-Service solutions, both through service providers and directly from Alert Logic.
"Alert Logic has consistently maintained a growth rate in excess of 40% over the past four years as we have broken through the annual revenue levels of $10 million, $20 million, $30 million, and now $40 million," said Gray Hall, Alert Logic's president and CEO. "Demand for our services continues to grow. We are grateful to have so many strong and loyal customers, and such tremendous channel partners. We look forward to continuing to grow our business over the next several years."
Alert Logic's notable highlights for Q1 2013 include:
- Releasing the third-generation of Alert Logic Log Manager, which enables real-time security monitoring of critical security logs. Users can now manage log data from their entire infrastructure – from environments inside enterprise data centers to fully elastic public clouds – in a single console.
- Being named by Forrester Research, Inc. as a leader in the emerging MSSP category in its report, "The Forrester Wave™: Emerging Managed Security Service Providers, Q1 2013."
- Publishing the Alert Logic State of Cloud Security Report – Spring 2013, confirming the security advantages of cloud hosting provider environments compared to enterprise data centers, and identifying Web application attacks as the most significant security threat to IT infrastructures.
Although privately held, 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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About Alert Logic
Alert Logic, the leading provider of Security-as-a-Service solutions for the cloud, provides solutions to secure the application and infrastructure stack. By integrating advanced security tools with 24×7 Security Operations Center expertise, customers can defend against security threats and address compliance mandates. By leveraging an "as-a-Service" delivery model, Alert Logic solutions include day-to-day management of security infrastructure, security experts translating complex data into actionable insight, and flexible deployment options to address customer security needs in any computing environment. Built from the ground up to address the unique challenges of public and private cloud environments, Alert Logic partners with over half of the largest cloud and hosting service providers to provide Security-as-a-Service solutions for business application deployments for over 2,100 enterprises. Alert Logic is based in Houston, Texas, and was founded in 2002. For more information, please visit www.alertlogic.com.
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SOURCE Alert Logic