Red Canary Wraps Up Fiscal Year 2025 Highlighted by Rapid Enterprise Growth and Accelerated Product Innovation

Rapid adoption of identity and cloud security protection is delivering greater customer value and fueling company growth

AI-driven workflows are enabling security teams to investigate threats 10x faster on average, delivering greater efficiency and security outcomes

DENVER, March 7, 2025 /PRNewswire/ -- Red Canary, a leader in managed detection and response (MDR), today announced highlights from its fiscal fourth quarter and full fiscal year ending January 31, 2025. Enterprise new customer bookings grew by 23% quarter-over-quarter and 63% year-over-year, fueling Red Canary's annual recurring revenue beyond $140 million.

In fiscal year 2025, the company accelerated product innovations that helped customers detect and stop threats faster. Key advancements included identity detection and response, cloud security, and enhanced endpoint security–all powered by advanced AI. The company also unveiled Red Canary Managed XSIAM to strengthen security operations and launched the Red Canary Security Data Lake to significantly reduce storage costs.

"Our customers rely on us around the clock to deliver the threat detection and response they need to minimize disruption from cyberattacks so they can focus on their mission. When Red Canary alerts you, you know it's a real threat," said Brian Beyer, CEO of Red Canary. "The stakes are high, which is why we're relentlessly focused on innovating—over the past year, our AI advancements have made our managed detection and response platform even smarter, more accurate, and more scalable. Red Canary Security Data Lake means our customers can have cost efficient storage that improves their security posture, reducing SIEM costs. We take the complexity out of security operations for our customers, so they can focus on what matters most for their business."

Key product innovations in Q4 FY25:

• Maintained customer-validated 99% accuracy, while processing significantly more security data, integrating additional data from cloud and identity tools into the platform and leveraging AI-driven innovations. The Red Canary platform handles 97% of all investigations, driving market-leading accuracy at scale.
• Expanded how AI agents improve security operations center (SOC) workflows, reducing investigation time by 90% on average, enabling Red Canary analysts to detect more threats and respond faster.
• Strengthened its ecosystem of integrations and technology partnerships, including adding support for CrowdStrike Falcon Identity Protection, offering world-class 24x7 managed detection and response that reduces the workload of in-house security teams.

Key company milestones in Q4 FY25:

• Surpassed $140 million in ARR, delivering consistently improved operating margins and exiting the fiscal year generating positive cash flow.
• Earned five G2 Winter Grid Report badges, including Highest User Adoption in MDR, based on independent customer reviews.
• Published breaking threat intelligence and new research available to the entire cybersecurity community, including:
  • New VBS worm dubbed 'Tangerine Turkey,' which Red Canary's analysts traced to a global crypto-mining operation that has been largely overlooked to date.
  • New threat intelligence on Storm-1811, a threat actor using social engineering to impersonate help desk employees or other IT admins to gain initial access to environments via remote monitoring and management (RMM) tools, leading to Black Basta ransomware infections.

Red Canary is entering fiscal year 2026 with strong momentum, earning a coveted spot on CRN's 2025 Security 100 List for excellence in Endpoint and Managed Security and being named a Leader in the Forrester Wave™: Managed Detection and Response Services, Q1 2025. These recognitions reflect our ongoing commitment to helping organizations stay secure in an evolving threat landscape.

About Red Canary

Red Canary is a leader in managed detection and response (MDR). We serve companies of every size and industry, focusing on finding and stopping threats before they can have a negative impact. As the cornerstone security operations partner for nearly 1,000 organizations, we provide MDR with industry-leading threat accuracy and a world-class customer experience across identities, endpoints, and cloud. For more information about Red Canary, visit: https://redcanary.com/.

SOURCE Red Canary