Alert Logic Reports Q1 2013 Results
Growth rate still above 40% as company exceeds $40 million in annualized
HOUSTON, April 10, 2013
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:
oReleasing 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
oBeing 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."
oPublishing 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.
Additional Resources Available:
Alert Logic State of Cloud Security Report – Spring 2013
The Forrester Wave™: Emerging Managed Security Service Providers, Q1 2013
@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
2,100 enterprises. Alert Logic is based in Houston, Texas, and was founded in
2002. For more information, please visit www.alertlogic.com.
DPK Public Relations
Daniel Keeney | 214.432.7556
SOURCE Alert Logic
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