ExaGrid says it’s had another storming quarter, with the privately held company saying this is its 18th consecutive growth quarter selling tiered deduping backup target appliances that compete with systems from Dell and HPE.
The company’s disk-based appliances have a non-dedupe backup ingest landing zone, for fast restores, and a Repository Tier zone with cluster-wide deduplication. System features include a Retention Time-Lock that includes a non-network-facing tier (creating a tiered air gap), delayed deletes and immutability for ransomware recovery. The business, which did not reveal any figures, claimed it made record revenue in the second quarter, adding over 140 new customers with the average deal size increasing.
President and CEO Bill Andrews stated: “Revenue and EBITDA continue to grow year over year. We are the largest independent backup storage vendor, and we continue to add support and integration with more backup applications which offers investment protection to our existing customers and provides even more potential for top line growth.”
“We’ve hit well over 4,700 active customer installations worldwide. ExaGrid continues to have an over 70 percent competitive win rate (74.1 percent in Q2) replacing primary storage behind the backup application, as well as inline deduplication appliances such as Dell Data Domain and HPE StoreOnce.”
The company has been FCF positive, P&L positive, and EBITDA positive for the past 18 quarters and has zero debt. We estimate it had 112 six- and seven-figure deals in the quarter. Half of its business this quarter came from new customers, and over 50 percent of its overall business came from outside the USA. ExaGrid said it is adding over 14 more sales regions worldwide.
Its appliances support more than 25 backup applications and utilities including: Veeam, Commvault, NetBackup, HYCU, Oracle RMAN direct, Rubrik, SQL Dumps direct and HYCU, with support for Cohesity DataProtect due in the first half of 2026.
Recently other backup target appliance companies have been adding all-flash configurations, such as Dell and Quantum. Such all-flash appliances can provide up to 130T TB/hour throughput in Dell’s case which puts ExaGrid in the slow lane with its 20 TB/hour (EX189 product). We would expect ExaGrid to have hybrid flash-disk and/or all-flash appliance developments ongoing with an announcement in the next 12 months and possibly sooner.
