Alert Logic Reports Strong Q2 2013 Results Company Growth Rate Remains Above 40% as Company Exceeds $43 Million in Annualized Revenue
HOUSTON, July 23, 2013 /PRNewswire/ -- Alert Logic (www.alertlogic.com), the recognized leader in Security-as-a-Service solutions for the cloud, today announced GAAP revenues for the quarter ending June 30, 2013 of $10.1 million, up 43 percent from the second quarter of 2012, and up 7 percent from the first quarter of 2013. Alert Logic's annualized revenue under contract in the month of June 2013 exceeded $43 million, and is tracking ahead of the company's plan to reach a $50 million run-rate by the end of 2013.
Alert Logic realized strong Q2 momentum within the public cloud sector as the company's release of Threat Manager for Cloud and Log Manager solutions helped secure more than 100 Amazon Web Services customers.
"Our strong growth this quarter keeps us on track to reach our goal of being a $50 million business by the end of 2013," said Gray Hall, Alert Logic's president and CEO. "Our new product releases from the second half of 2012 and the first half of 2013 helped fuel our growth this quarter, and we expect a similar boost in the future from the exciting new products and capabilities we plan to launch in the second half of 2013."
To date, Alert Logic has more than 2,200 customers using its Security-as-a-Service solutions, both via service providers and directly from Alert Logic.
Alert Logic's notable highlights for Q2 2013 include:
- Releasing the next generation of Threat Manager, the first fully managed threat management solution deployable in any elastic cloud infrastructure, irrespective of hypervisor and networking architecture.
- Being named a "Cool Vendor" by Gartner in its 2013 Security Services report, which recognizes Alert Logic for its innovative business model, intrusion detection, vulnerability assessment, log management and web application firewall Security-as-a-Service solutions and cloud-based architecture.
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. All Alert Logic revenue is derived through long-term subscription contracts, consistent with the company's Security-as-a-Service 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.
Additional Resources Available:
Alert Logic Delivers New Threat Manager With Industry-First Global View of Multiple Cloud Infrastructures
Alert Logic Named "Cool Vendor" by Gartner
@alertlogic on Twitter
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 2,200 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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