WatchGuard Reports Highest Quarterly Billings in History of the Company
New products and features drove significant increase in product and attached service billings and record trade-ups in Q1 2013
SEATTLE, April 29, 2013 /PRNewswire/ -- WatchGuard® Technologies, a global leader in manageable business security solutions, today announced it set new company records with its Q1 financial results. WatchGuard's net billings exceeded all previous quarterly outcomes as customers took advantage of several significant new product releases over the past few months, including the launch of two new Wireless Access Points, seven new WatchGuard XTM models, and updated features that provide customers with increased functionality while maintaining a high level of manageability.
While WatchGuard saw a YoY increase in sales across customers of all sizes, Q1 results showed that the XTM 5 Series Unified Threat Management firewall, a solution targeted at mid-sized enterprises, led the charge and continued to be WatchGuard's top-selling product. In fact, product and attached service billings for mid-sized companies showed 24 percent growth when compared to the first quarter of 2012.
WatchGuard noted a global spike in sales of product and attached services. The Americas saw YoY gains of 26 percent and EMEA gained 16 percent. In addition, the company saw a surge of new customers who replaced legacy security systems with WatchGuard products in Q1. WatchGuard experienced its largest quarter ever in terms of trade-in volume with a 65 percent YoY increase.
"The growth we've experienced over the past three months makes it clear that more customers are looking to WatchGuard, not the competition, to safeguard their networks against today's blended threats," said Richard Barber, CFO at WatchGuard Technologies. "We have completely revamped our core product offering in just a little more than a year and there is more to come."
On the heels of a successful quarter for the XTM 5 Series, SC Magazine named the product "Best SME Security Solution" at their 2013 Europe Awards presentation last week. These annual awards recognize security professionals and vendors that deliver innovative security services and technologies. The first quarter of 2013 also resulted in multiple awards and top ratings from industry sources, honoring excellence in the company's partner program and in its products. WatchGuard was recognized with awards from CRN and Info Security Product Guide, and it also achieved a five-star review of its XTM product from SC Magazine. You can read more about these industry recognitions here.
About WatchGuard Technologies, Inc.
Since 1996, WatchGuard® Technologies, Inc. has been a global leader of business security solutions that intelligently combine industry standard hardware, Best-in-Class security features, and policy-based management tools. WatchGuard provides easy-to-use but enterprise-powerful protection to hundreds of thousands of businesses worldwide. The WatchGuard family of Smart Firewalls provides; smart security through seamless integration of multiple security services; smart management by providing a single console for deploying and maintaining services; and smart performance to ensure that customers of all sizes can securely operate at the pace of business. WatchGuard products are backed by WatchGuard LiveSecurity® Service, an innovative support program. WatchGuard is headquartered in Seattle, Wash. with offices throughout North America, Europe, Asia Pacific, and Latin America. To learn more, visit www.watchguard.com.
WatchGuard is a registered trademark of WatchGuard Technologies, Inc. All other marks are property of their respective owners.
Raffetto Herman Strategic Communications
SOURCE WatchGuard Technologies, Inc.
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