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Wasabi’s success driven by unparalleled work-life balance and collaborative, fully-engaged team

BOSTON, MA – Dec. 2, 2021 — /BackupReview.info/ — Wasabi Technologies, the hot cloud storage company, today announced it has been named one of the Top Places to Work in Massachusetts in the 14th annual employee-based survey project from The Boston Globe. The Top Places to Work 2021 issue publishes online at Globe.com/TopPlaces on the night of December 1 and in Globe Magazine on December 5.

Top Places to Work recognizes the most admired workplaces in the state voted on by the people who know them best—their employees. The survey measures employee opinions about their company’s direction, execution, connection, management, work, pay and benefits, and engagement. The employers are placed into one of four groups: small, with 50 to 99 employees; medium, with 100 to 249 workers; large, with 250 to 999; and largest, with 1,000 or more.

With headquarters in the heart of Boston, Wasabi was founded in 2017 by Carbonite founders David Friend and Jeff Flowers to remove the complexity of cloud storage for businesses all over the world. Trusted by tens of thousands of customers worldwide, Wasabi has been recognized as one of technology’s fastest-growing and most visionary companies and has grown exponentially in recent years, now with over 170 employees who have unparalleled flexibility and work-life balance, top workplace benefits, and a creative and collaborative team that has only become more engaged in Wasabi’s success.

“At Wasabi, we know that product alone does not make a company. We empower our employees to thrive by prioritizing their personal lives and showing trust in their abilities, and as a result, they bring remarkable energy and enthusiasm to their careers at Wasabi,” said David Friend, CEO, Wasabi Technologies. “The expertise, pride, and mutual respect our employees have for one another is what makes Wasabi a great place to work and has been essential to our business momentum. This honor from the Boston Globe is truly a testament to them.”

“The workplace is undergoing a once-in-a-lifetime transformation, and the companies that embraced that change, and put their employees’ needs first, really stood out,” said Katie Johnston, the Globe’s Top Places to Work editor.

The rankings in Top Places to Work are based on confidential survey information collected by Energage (formerly WorkplaceDynamics), an independent company specializing in employee engagement and retention, from more than 80,000 individuals at 363 Massachusetts organizations. The winners share a few key traits, including offering more flexibility to continue working remotely, tracking progress on efforts to support a diverse workforce, and, above all, remembering to have some fun along the way.

Top Places to Work online extras include sortable rankings and features such as showcasing companies that are going the extra mile to make their workplaces more equitable and to help employees connect with one another, and their communities, during the pandemic. All can be found at Globe.com/TopPlaces. Readers can follow the news on Twitter at #workboston.

About Wasabi Technologies
Wasabi provides simple, predictable and affordable hot cloud storage for businesses all over the world. It enables organizations to store and instantly access an unlimited amount of data at 1/5th the price of the competition with no complex tiers or unpredictable egress fees. Trusted by tens of thousands of customers worldwide, Wasabi has been recognized as one of technology’s fastest-growing and most visionary companies. Created by Carbonite co-founders and cloud storage pioneers David Friend and Jeff Flowers, Wasabi has secured nearly $275 million in funding to date and is a privately held company based in Boston.

Follow and connect with Wasabi on Twitter, Facebook, Instagram, and our blog.

About Boston Globe Media Partners LLC
Boston Globe Media Partners, LLC provides news and information, entertainment, opinion and analysis through its multimedia properties. BGMP includes The Boston Globe, Globe.com, Boston.com, STAT and Globe Direct.

Wasabi Technologies PR contact:
Kaley Carpenter
Inkhouse for Wasabi
wasabi@inkhouse.com

Source: Wasabi Technologies

 

 

 

Optimized process of purchasing services and propagating transactions to Datto’s Autotask PSA

IRVINE, Calif. – December 02, 2021 — /BackupReview.info/ — Ingram Micro Cloud, operator of the channel’s largest cloud marketplace, today announced the integration of Datto’s Autotask PSA to its cloud marketplace to help simplify transactions for Managed Service Providers (MSPs). Datto’s Autotask PSA is a complete IT business management platform that delivers the mission-critical tools MSPs need to run their IT managed services business. It’s a reliable, cloud-based platform that centralizes business operations to drive MSP efficiency, accountability, and insight. This integration allows MSPs leveraging the Ingram Micro Cloud Marketplace, the world’s largest marketplace of cloud solutions and services for the channel, to log into their integration console and optimize the process of purchasing services and propagating transactions to Datto’s Autotask PSA.

“Autotask PSA delivers all the mission-critical tools necessary to run a managed services business, making this an invaluable addition to our cloud marketplace,” said Victor Baez, Senior Vice President at Ingram Micro Cloud. “This integration further delivers on our promise to customers for ‘More as a Service’.”

Benefits of the integration include the ability for MSPs to synchronize between Cloud Marketplace and Autotask PSA, as well as map customers, import customers from Autotask PSA to Cloud Marketplace, reconcile customers’ subscriptions, navigate products, and more.

“We’re excited to partner with Ingram Micro Cloud on this Autotask PSA integration,” said Joseph Rourke, Director of Product Management at Datto. “By partnering with leading technology companies and providing easy-to-use integrations, Ingram Micro Cloud enables businesses of all sizes to refocus and reallocate their saved time and energy on achieving and surpassing business objectives.”

The Ingram Micro Cloud Marketplace is an automated, end-to-end e-commerce platform that enables resellers to provision services within minutes, purchase preset bundles to increase their profit margin and streamline their back-office operations with consolidated control. Resellers can also leverage the automated Go-to-Market Hub to customize their marketing and sales collateral, enabling them to reduce time to market and increase revenue.

About Ingram Micro Cloud
Ingram Micro Cloud brings together innovators and problem solvers to help the world accomplish more. It facilitates and manages the cloud’s complex digital value chain—all powered by CloudBlue technology. With unmatched global reach, easy access to automated go-to-market and integration tools, deep technical expertise, and a curated selection of scalable SaaS and IaaS solutions, Ingram Micro Cloud helps vendors, resellers, and managed service providers by offering More as a Service. Detailed information is available at www.ingrammicrocloud.com.

PR Contact:
Megan Binkley
Ingram Micro Cloud
Megan.Binkley@ingrammicro.com

Source: Ingram Micro

 

 

 

DENVER, CO – December 1, 2021 — /BackupReview.info/ — Today, Axcient, a leader in business continuity and cloud migration solutions for Managed Service Providers (MSPs), announced its ‘A’ rating (up 5 points to a 96) from SecurityScorecard verifying the security of its business continuity, disaster recovery, and cloud migration tools. This ‘A’ security rating encompasses controls protecting security across all risk indicators, including Networking, DNS Health, Patching Cadence, Endpoint Security, IP address, Web Application Security, Cubit Score, Hacker Chatter, Information Leak, and Social Engineering.

As a cloud services platform custom-built to secure and support MSPs, Axcient’s security rating enables Partners to both trust and verify the data protections supporting their supply stream. Gathering publicly available information across the Internet, using the SecurityScorecard platform, Axcient can now leverage their best-in-class cybersecurity control environment without compromising the integrity of their internal controls. For more than four months, SecurityScorecard has continuously monitored 10 risk indicators across seven different companies, determining Axcient’s overall cyber health.

“SecurityScorecard’s rating validates the security and reliability of Axcient’s business continuity offerings,” said Joshua Foltz, Chief Security and Compliance Officer at Axcient. “In all that we do—whether product development, process innovation, or security testing—we put the needs of our Partners first. The scorecard proves that our applications and cloud are the most secure, which is a direct reflection of our Partner experience and commitment to offering world-class products.”

SecurityScorecard enables users to view and continuously monitor security ratings and report on the cyberhealth of their ecosystems. In the monitoring process, SecurityScorecard integrated an algorithm called Next-Gen Scoring that deployed a deterministic scoring methodology for Axcient based on a robust statistical framework with a grading system that links issue changes to score fluctuations. Based on threat data, Axcient was graded and benchmarked against six different companies, including Acronis, Datto, StorageCraft, Barracuda, Infrascale, and Veeam. The monitoring and test determined that Axcient was the only company who received an ‘A’ rating.

“This is a competitive differentiator for Axcient,” said Marc Moesse, Vice President of Product at SecurityScorecard. “Nearly 70% of breaches are a result of poor third-party security. With Axcient, MSPs can have confidence that if their customers lose a server, system, website, or data center, the company offers secure technology to recover data to stand up their servers and get back to business.”

View the Security Scorecard report — https://axcient.com/schedule-a-demo/

About Axcient
Axcient is an award-winning leader in business availability software for Managed Service Providers (MSPs). Axcient x360 empowers MSPs to Protect Everything™ by combining SaaS Backup, BCDR, and secure File Sync & Share into one platform and experience. Trusted by MSPs worldwide, Axcient protects business data and continuity from events such as security breaches, human error, and natural disasters. For more information, visit www.axcient.com

Follow Axcient on LinkedIn, Facebook and Twitter.

Media Contact
Amanda Lee
ARL Strategic Communications for Axcient
(727) 272-0781
Amanda.Lee@arlpr.com

Source: Axcient

 

 

 

Delivers improved experiences and performance for AI workloads on premises and in the cloud

CAMPBELL, Calif. – December 02, 2021 — /BackupReview.info/ — WekaIO™ (Weka), the data platform for AI, today announced the availability of its latest version of WekaFS™, the fastest storage for data-intensive applications that provides users with enhanced capabilities for cloud deployments and provides new capabilities for both cloud native and virtualized applications on premises.

Weka’s data platform, built on WekaFS, addresses the storage challenges posed by today’s enterprise AI workloads and other high performance applications running on-premises, in the cloud or bursting between platforms. One single data platform offers the simplicity of NAS, the performance of SAN or DAS and the scale of object storage along with accelerating every stage of the data pipeline from data ingestion to cleansing to modeled results.

The additional enhancements now available with version 3.13 of the software provide customers with an even better experience by addressing modern workload demands, fully integrating flash, S3 object storage, cloud and on-premises in a single framework.

Among the top new features in WekaFS 3.13 are:

AWS Autoscaling Groups Thin Provisioning
WekaFS already supports AWS Autoscaling Groups to allow for easy, on the fly, scaling up of the cluster for peak demand periods and auto scaling down when not needed. For cloud-native applications autoscaling delivers the full flexibility of cloud elasticity by allowing resource instances to join or leave the group based on performance or user demand requirements.

New in 3.13, a filesystem can be set as thin provisioned when scaling the number of EC2 instances to be increased or decreased. When scaling up, as the NVMe capacity grows, these filesystems will get more NVMe capacity automatically added to them without additional user intervention. It also allows for shrinking the filesystem as EC2 instances are removed. This simplifies the entire storage management experience in AWS and works with AWS Budgets so you can track and take action on the cost of your dynamic AWS usage.

Remote Backup to Multiple Object Stores
Remote Backup is now generally available in 3.13, supporting the use of multiple S3 object stores. With 3.13, WekaFS’ namespace expansion can now attach to a second object store for snap-to-object data protection and cloud bursting purposes. Now, for example, a daily snapshot can be stored to a local object store, while a monthly snapshot is uploaded to a remote object store. An additional feature of the Remote Backup capability is that Weka can upload just the incremental changes between each remote snapshot even if there are other local snapshots, allowing for both reduced network traffic and reduced capacity needed in the target object store.

High-Performance Clients on VMware Virtual Machines
While customers have previously been able to have virtual applications run against Weka storage in the past, there were some tradeoffs that needed to be made. Now, it is even easier to use Weka FS reliably in a VMware environment. WekaFS 3.13 introduces support for VMXNET Generation 3 (VMXNET3), the most recent virtual network device from VMware. This allows for high-speed WekaFS operation with vMotion (vSphere) in a typical virtual environment. Just load the Weka client onto the guest VM and make sure a VMXNET3 network is attached.

CSI Quota
The Weka CSI Plugin provides the creation and configuration of persistent storage external to Kubernetes. At scale, customers have asked for ways to help control the consumption of storage in the Kubernetes environment. WekaFS 3.13 introduces CSI resource quota management to request volume size and enforce its limits via policies that are integrated in the plugin to allow for tighter controls and reign in unchecked storage consumption.

“Other storage vendors often refer to their latest versions as an ‘upgrade’ or an ‘evolution’ of their products but that simply means that previous iterations were lacking or that the company was slow to recognize needs in the market,” said Liran Zvibel, co-founder and CEO of WekaIO. “Because it was built for NVMe flash and cloud-native, Weka was designed to enable organizations to maximize the full value of their high-powered IT investments – compute, networking and storage. The Weka development model ensures that we continue to improve the product on a rapid basis and the latest features are an extension of our capabilities to better help users unlock the full capabilities of their data centers.”

WekaFS 3.13 is currently available for new and existing customers. Those looking to learn more or leverage the latest features are encouraged to contact one of the company’s Weka Innovation Network partners for additional information.

About WekaIO
WekaIO™ (Weka), the leading data platform for achieving first-to-market results in artificial intelligence/machine learning (AI/ML), life sciences research, and high-performance computing (HPC)) is used by eight of the Fortune 50 enterprise organizations to uniquely solve the newest, biggest problems holding back innovation and discovery. Weka solutions are purpose-built to future-ready the accelerated and agile data center. Optimized for NVMe-flash and the hybrid cloud, its advanced architecture handles the most demanding storage challenges in the most data-intensive technical computing environments, delivering truly epic performance at any scale, enabling organizations to maximize the full value of their data center investments. Weka helps the enterprise solve big IT infrastructure problems to accelerate business outcomes and speed productivity. For more information, go to https://www.weka.io

Follow WekaIO: Twitter, LinkedIn, and Facebook

WekaIO, WekaFS, Weka AI, Weka Innovation Network, Weka Within, Weka AI logo, WIN logo, Weka Within logo, and the WekaIO logo are trademarks of WekaIO, Inc.

Contact:
JPR Communications
Judy Smith
judys@jprcom.com

Source: WekaIO

 

 

 

The Enterprise File Fabric solution for Media and Entertainment is now part of Global Distributions’ product portfolio

LONDON, UK – 2nd December 2021 — /BackupReview.info/ — Storage Made Easy and Global Distribution announced a new distribution partnership which brings the Enterprise File Fabric™ for Media and Entertainment into Global Distribution’s product portfolio.

The Enterprise File Fabric provides a one-of-a-kind secure media management solution that addresses the unique challenges of the Media and Entertainment industry.

Some of the features and benefits that the Enterprise File Fabric for M&E offers are:

    • Unified Namespace for Hybrid Assets: The File Fabric provides a single common interface across all public / private data stores from which to view, manage and define collaboration and security controls. It doesn’t matter if media data is located on-premises, NAS, object storage, private and public clouds, or SaaS applications; the Enterprise File Fabric is able to provide a single common interface to all assets.
    • Large File Transfer Acceleration: The Enterprise File Fabric platform provides a unique transfer acceleration feature called M-Stream® which speeds up the uploading, downloading, and copying of very large assets. This works with Tier 1, Tier 2 and Archive storage and works from storage to end user desktop, from storage platform to storage platform, or even rack-to-rack in the data centre.
    • VPN-Less Remote Access to assets stored on SMB Shares: SMBStream™ is a site-to-site gateway that provides end users accelerated, secure access to office bound such as NAS/SAN, or cloud bound such Amazon FSx or Azure files, and SMB shares. Speeds can be as much 30x faster than using a traditional UDP VPN.
    • Metadata Extraction: The File Fabric indexes media assets and extracts metadata making it easier to classify, search and find data. Integrations are provided into best of breed video AI technology, such as Google Vision.

Nick Warburton, Director at Global Distribution said: “When I first looked at SME’s Enterprise File Fabric™ I was extremely impressed. There is no question that this is a must have software solution for companies that are looking for a way to unite on-cloud and on-premises file and object storage infrastructure, and provide an indexed global file system, that can accelerate end user and application workflows, at the same time as providing required access control and security. Global has always sought out the best of breed technology solutions and is delighted to be able to offer Storage Made Easy to our worldwide network of resellers.”

Jim Liddle, Storage Made Easy CEO said, “With the File Fabric for Media we are able to differentiate and increase the value Global Distribution brings to their channel resellers whilst SME gains the benefit of a smart, savvy distribution partner operating across Europe in the M&E space.”

About Storage Made Easy (SME)
Storage Made Easy’s Enterprise File Fabric™ integrates file and object data into one single platform through a unified file system that works with on-premises and on-cloud data storage assets.

End users, whether local or remote, are able to access the unified file system using web scale protocols and clients that bridge desktop and cloud, but which provide familiar workflows to end users.

Cloud-like economics are provided across a company’s entire storage portfolio, unlocking the benefits and cost-efficiency of its data assets whilst providing strict controls and governance for legislative compliance, such as GDPR and CCPA, and addressing security concerns such as ransomware attacks.

The platform’s unique File Transfer acceleration technology M-Stream®, speeds up the transfer of files from desktop to storage, storage to desktop or even public cloud to public cloud, enhancing user productivity and providing ROI on latency sensitive workflows.

The company is backed by Moore Strategic Ventures, LLC, the private investment vehicle of Louis M. Bacon, in addition to other private shareholders including London-based entrepreneurs who previously successfully exited their businesses to larger industry peers.

Storage Made Easy is the trading name of Vehera LTD.

Follow us on Twitter @SMEStorage and @storagemadeeasy and visit us at www.StorageMadeEasy.com to learn more.

Press Contact
Mariado Martinez, Marketing Manager
mariado@storagemadeeasy.com
+44 (0)2086 432 885

Source: SME

 

 

 

Exos X20 and IronWolf Pro 20TB CMR-based HDDs help organizations maximize the value of data

FREMONT, CA — December 2, 2021 — /BackupReview.info/ — Data drives today’s most innovative technology and business breakthroughs. Maximizing the value of an organization’s data is dependent on the ability to store, access, and activate as much data as possible. Today, Seagate® Technology Holdings plc (NASDAQ: STX), a world leader in mass-data storage infrastructure solutions, launched the new Exos® X20 20TB and IronWolf ® Pro 20TB conventional magnetic recording (CMR)-based hard disk drives (HDDs), increasing mass-capacity data storage capabilities.

Scalable, Responsive, and Innovative Enterprise Solutions
Seagate’s Exos X20 enterprise HDD is designed for maximum storage capacity and the highest rack-space efficiency. Built with cloud storage in mind, the 20TB Exos X20 delivers performance for hyperscale data centers and massive scale-out applications. With low latency of 4.16ms and repeatable response times, Exos X20 provides enhanced caching that performs up to three times better than solutions that only utilize read or write caching. Exos X20 also delivers an increased sustained data rate (SDR) of up to 285 MB/s.

With available Seagate Secure™ technology and a 2.5M-hr MTBF rating, enterprises count on Exos X20 to realize their greatest data and operational efficiencies, and highest storage densities in the datasphere.

The Exos X20 HDD can be paired with Seagate’s recently announced Exos CORVAULT™ intelligent storage system to deliver maximum data density in a small footprint. Built on Seagate’s 4U chassis accommodating 106 Exos enterprise drives in only seven inches (18 cm) of rack space, CORVAULT offers over 2.12PB of SAN-level performance built on Seagate’s breakthrough storage architecture.

High Capacity, Dependable Solutions for Small and Medium Businesses (SMBs)
Seagate’s new IronWolf Pro 20TB HDD offers network attached storage (NAS)-optimized AgileArray™ technology to provide exceptional RAID reliability and compatibility during the heaviest NAS workloads that SMBs might require. Designed with built-in rotational vibration (RV) sensors, IronWolf Pro 20TB offers RV mitigation to provide reliable performance for NAS systems with little lag or downtime.

Purpose-designed for heavy user workloads, the new IronWolf Pro 20TB features high reliability with user workload rate limits of 300TB/year — a necessity for today’s NAS servers. It also offers sustained transfer rates of 285MB/s giving users the power to collaborate by sharing files, backing up, and tackling heavy workloads in multi-user NAS environments.

The new drive comes equipped IronWolf Health Management system for easy access and monitoring drive health as well as a five-year limited product warranty and three years of Rescue Data Recovery Services for peace of mind.

Shipping this month, Exos X20 20TB will be available for list price of $669.99 and IronWolf Pro 20TB is available for $649.99. CORVAULT is available globally via qualified Seagate distributors.

https://www.seagate.com/ca/en/news/media-kits/ironwolf-pro-20tb-kit-master/

About Seagate Technology
Seagate Technology crafts the datasphere, helping to maximize humanity’s potential by innovating world-class, precision-engineered mass-data storage and management solutions with a focus on sustainable partnerships. A global technology leader for more than 40 years, the company has shipped over three billion terabytes of data capacity. Learn more about Seagate by visiting www.seagate.com or following us on Twitter, Facebook, LinkedIn, YouTube, and subscribing to our blog.

©2021 Seagate Technology LLC. All rights reserved. Seagate, Seagate Technology and the Spiral logo are registered trademarks of Seagate Technology LLC in the United States and/or other countries. Exos and IronWolf are trademarks or registered trademarks of Seagate Technology LLC or one of its affiliated companies in the United States and/or other countries. All other trademarks or registered trademarks are the property of their respective owners. When referring to drive capacity, one gigabyte, or GB, equals one billion bytes and one terabyte, or TB, equals one trillion bytes. Your computer’s operating system may use a different standard of measurement and report a lower capacity. In addition, some of the listed capacity is used for formatting and other functions, and thus will not be available for data storage. Actual data rates may vary depending on operating environment and other factors.

Seagate Media Contact
Roxanne Hesh, Consumer PR, Americas
Roxanne.Hesh@seagate.com
(415) 233-0757

Source: Seagate

 

 

 

December 01, 2021

The top 100 online backup companies are grouped into 4 categories, namely:

1) Consumer – for the general consumers

2) Small Medium Business (SMB) – for small and medium businesses

3) Enterprise – for large enterprise corporations

4) Enablers – for enablers, channel, white label companies

The top 100 Cloud Backup Companies are determined based on specific criteria, and also take into consideration news releases companies publish in the preceding month, server stability, reports from our mystery shoppers, our own reviews, the company’s culture and ethics, users’ feedback, company corporate blogs, and more.

To read our official news release regarding our top 100 online backup companies, please click here.

The Top 100 Cloud Backup Companies for December 2021

Online Backup Reviews: Top 25 Top 75 Top 100 Online Backup Service Providers

Unless otherwise indicated, all domains are “dot com” websites.

Note: Some companies might have products and/or services in 2 or more categories.

# CONSUMER SMALL MEDIUM BUSINESS ENTERPRISE ENABLERS
01 Carbonite Safe Arcserve Databarracks Asigra
02 Backblaze Carbonite Server StorageCraft Veeam
03 IDrive Backup-Everything Code42 Rubrik
04 Acronis IDrive Business Assured-DP Novastor
05 SpiderOak Code42 StorageGuardian HYCU
06 Livedrive CloudOak iomart (Backup-Technology) OwnBackup
07 KeepVault Keepit.com Cohesity Datto
08 Sync.com* MSP360 HYCU BaculaSystems
09 SugarSync* JungleDisk Nasuni Acronis
10 Dropbox* DataDepositBox Egnyte Arcserve
11 Box* ElephantDrive Zerto*** CommVault
12 ADrive DriveHQ ExaGrid Dell EMC
13 SOSOnlineBackup BackupAssist Cloudian Druva
14 OpenDrive* USDataVault Nakivo Actifio
15 Backupify** BackupDirect.net UKBackup Barracuda (Intronis)
16 Memopal Datastring KeepItSafe Vembu
17 MyPCBackup Novosoft DataStorageCorp IBM (Spectrum Protect)
18 EazyBackup.ca Azure.Microsoft.com LongViewSystems Falconstor
19 iCloud* SolutionUnion Kaseya Axcient
20 Google Drive* BackupVault.co.uk Rackspace Redstor (Attix5)
21 OneDrive* SafeDataStorage.co.uk Gcomm.com.au LiveVault
22 Amazon Drive* BackupManager FantasticCS.co.uk N2WS (Veeam)
23 Norton Nordic-Backup SunGard CTERA
24 SecureBackup IASOBackup RestorePoint.net Unitrends
25 Cloud Daddy CentralDataStorage Veritas Infrascale

To learn more about the enabling companies and their respective categories, click here.

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* Storage and collaboration solution good for consumers as well as enterprises.

** Backupify is a backup tool for social networking accounts (e.g. Google+, Facebook, Twitter, etc.)

*** Replication solution

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Do you have any feedback on these top 4X25 cloud backup companies picks? Are there companies listed in a wrong sector? Did we miss your favourite company? Tell us why.

© 2021 – BackupReview.info

 

 

 

December 01, 2021

The growth of the cloud backup industry, over the last decade has been dramatic. The market has witnessed the rise and fall of many startups and stabilization of others. Interestingly, the companies that have gained a strong foothold in the industry are not all similar. There is a subtle distinction in the nature and types of services they offer. Some of these companies are pure enablers, while others combine enablement functions with direct-to-market services. Yet others, may license the software from enablers with or without re-branding options and service the cloud backup service needs of their clients.

Five distinct categories can be identified as under (click on links for details):
1/ Pure Enabler
2/ Enabler & Service Provider – Channel or Direct
3/ Service Provider – Channel Only
4/ Service Provider – Channel and Direct
5/ Service Provider – Direct Only (For complete list of companies, see our top monthly ranking list)

Based on a number of factors, such as technology, features, easy of use, dedication to MSPs, channel, revenue structure, reputation, support, price entry point, value, and corporate culture of the companies, we have summarized our rankings.

The companies are categorized in their respective columns. If we have made an error in the category or companies have changed their business plan and as a result need to be categorized in a different column, please let us know.

Top Online Cloud Backup Enablers

Note: Click on company names to read their profiles

No. Company Ranking (Click links for more details)
Pure Enabler Enabler & Service Provider
Channel or Direct
Service Provider Channel Only Service Provider Channel and Direct
1 Asigra Y
2 Veeam Y
3 Rubrik Y
4 Novastor  Y
5 HYCU Y
6 OwnBackup Y
7 Datto Y
8 BaculaSystems Y
9 Acronis Y
10 Arcserve Y
11 CommVault Y
12 Dell EMC Y
13 Druva Y
14 Actifio Y
15 Barracuda (Intronis) Y
16 Vembu Y
17 IBM Spectrum Protect Y
18 Falconstor Y
19 Axcient Y
20 Redstor (Attix5) Y
21 LiveVault Y
22 N2WS Y
23 CTERA Y
24 Unitrends Y
25 Infrascale Y

For online backup companies that offer direct services to end users, please check out our top online backup monthly rankings. These 75 companies are listed in three columns – Consumer, SMBs and Enterprises.

I. Pure Enablers: These are companies that develop and own the online backup software. They license the product to their MSP partners. The MSPs can re-brand the product and sell services under their own banner and brand and are supported by the enabling company for deployment of the software. Pure enablers do not provide any cloud backup services themselves and do not own/host any vaults. No channel conflict. These companies may also partner with distributors and resellers for distribution or sale of licenses.

II. Enablers & Service Providers – Channel or Direct: These are companies who go direct-to-market with online backup services using software developed and owned by them or licensed from other enablers. If they own the software or have the distribution rights for the software they may license the software to their MSP partners for extending the reach of the market. MSPs can only act as channels for the Enabler or use the software (without branding) for providing services to their clients.

III. Service Providers – Channel Only: These are companies who go direct-to-market with online backup services using software developed and owned by them or licensed from other enablers. They may own/host their vaults, but go-to-market ONLY through their wholesale resellers. If they own the software or have the distribution rights for the software, they may license the software to their MSP partners for extending the reach of the market. MSPs can only act as channels for the Enabler or use the software (without branding) for providing services to their clients. They do not sell cloud backup services directly to end-user customers. No channel conflict.

IV. Service Provider – Channel and Direct: These are companies who go direct-to-market with online backup services using software developed and owned by them or licensed from other enablers. These companies license software from enablers, and own/host their vaults, but go-to-market BOTH directly to end-user customers AND through their wholesale resellers. If they own the software or have the distribution rights for the software they may license the software to their MSP partners for extending the reach of the market. MSPs can only act as channels for the Enabler or use the software (without branding) for providing services to their clients. Potential for channel conflict.

V. Service Providers – Direct Only: These are companies who develop and own their own software or license it from an enabler and own/host their vaults, but go-to-market directly to end-user customers. for providing online backup services to their clients. They do not sell cloud backup services via resellers. No channel conflict.

Below are enablers’ ranking profiles:

1. Asigra – Based in Toronto, Canada, Asigra describes itself as a company that is devoted to furthering cloud Backup, Recovery and Restore (BURR) by offering its cloud solutions entirely through its Partner ecosystem. The company prides itself on its role as a cloud service enabler and focuses all its energies on architecting a cloud solution that is agentless; differentiated with a robust backup and recovery engine and a capacity based pricing model. With over thirty years of experience and 1,000,000 deployments globally, Asigra is distinguished by its innovation and efforts at educating the data protection marketplace and driving the demand for best-of-the-breed cloud-based services. The company assumes a non conflicting role and believes in creatively nurturing its Partner ecosystem by providing its partners with value beyond the software. Asigra is committed to providing its partners with effective marketing and sales tools to help them scale their cloud backup business and position themselves as leaders within the market. With an aggressive Partner Program, Asigra partners are able to deploy cost-effective public, hybrid and private cloud solutions to consumers, SMBs and Enterprises worldwide. Service Providers Powered by Asigra, including Terremark (a Verizon company), NTT America, Centre Technologies, Highstreet IT Solutions, INFINIT Consulting, Pulsant and Backup Technology, are actively helping define standards for the industry. David Farajun, the CEO of the company does not hesitate to declare that Asigra’s success is defined by the success of its partners. For more information, visit www.asigra.com

2. Veeam – Founded in 2006, Veeam currently has 51,000+ ProPartners and 267,500+ customers with the highest customer satisfaction scores in the industry. It is headquartered in Baar, Switzerland, with has offices in more than 30 countries. Veeam® recognizes the new challenges companies across the globe face in enabling the Always-On Enterprise™, a business that must operate 24.7.365. To address this, Veeam has pioneered a new market of Availability for the Always-On Enterprise™ by helping organizations meet recovery time and point objectives (RTPO™) of less than 15 minutes for all applications and data, through a fundamentally new kind of solution that delivers high-speed recovery, data loss avoidance, verified recoverability, leveraged data and complete visibility. Veeam Availability Suite™, which includes Veeam Backup & Replication™, leverages virtualization, storage, and cloud technologies that enable the modern data center to help organizations save time, mitigate risks, and dramatically reduce capital and operational costs, while always supporting the current and future business goals of Veeam customers. To learn more, visit www.veeam.com or follow Veeam on Twitter @veeam.

3. Rubrik – Launched in 2014 and headquartered in Palo Alto, California, Rubrik is one of the latest companies to enter the data protection space. It has developed the world’s first Cloud Data Management platform for data protection, search, analytics, archival and copy data management for hybrid cloud enterprises. With its motto to “simplify how businesses around the World keep and use their data”, Rubrik builds beautifully simple products for businesses to meet their most challenging data management needs. Rubrik blends expertise from both consumer and enterprise worlds to pioneer a fresh approach to an old problem. It combines traditional backup with the ability to recover, manage, and secure data across public and private clouds. In its short existence, Rubrik has spread its wings in 5 continents and grown into a 600 employee corporation, and now has $150M run-rate in bookings in just 8 quarters of selling, and signed 500+ channel partners across the globe. It has received numerous industry awards including: #7 on LinkedIn’s Top Companies | Startups 2017 list, Gartner Visionary in 2017 Magic Quadrant for Data Center Backup and Recovery Solutions, Gartner Cool Vendor, Forbes Cloud 100, Forbes Next Billion Dollar Companies, Business Insider’s 51 Enterprise Startups to Bet Your Career On, InformationWeek Top 25 Vendors to Watch, CFO.com Top 20 Companies to Watch, Best of VMworld, and CRN Emerging Vendors, among others. Fortune 500 companies use Rubrik to manage data at scale while realizing data-driven services anytime, anywhere. “All Your Apps. Instantly Available.” For more information, please visit www.rubrik.com

4. NovaStor – NovaStor, a global company with offices in Switzerland, Germany and the U.S., markets its award-winning, Cloud, SMB and Enterprise backup and recovery products through MSPs, VARs, OEMs and System Retailers. It guarantees its Partners, Cloud, MSP, SMB and Enterprise customers personal account management, enticing discounts, extensive tailor-made product training, efficient lead generation, practical support for marketing and 24-7 local technical support. Further, it provides these Enterprise, Cloud and MSP Partners and customers with unlimited access to support forums, information portals and a variety of workshops, webinars and training sessions to promote the commercial interests of their partners. Partners and MSPs who sign up with NovaStor can expect to have the company’s full attention and support in building long-term, solid business relationships that are founded on transparency, simplicity and personal interaction. NovaStor proudly asserts on its website that its partner program constructs with all components required to to build successful companies that can capitalize on growth markets and create wealth for all stakeholders. The programs are designed to ensure that NovaStor and its partners, some of which include HP, General Mills, and Tieto, go to market with complete confidence that they will be successful together. For additional information, please visit www.novastor.com

5. HYCU, Inc.: HYCU is the fastest-growing leader in the multi-cloud backup and recovery as a service industry. By bringing true SaaS-based data backup to both on-premises and cloud-native environments, the company provides unparalleled data protection, migration and disaster recovery to more than 2,000 companies worldwide. HYCU’s award-winning, purpose-built solutions eliminate the complexity, risk and high cost of legacy-based solutions, providing data protection simplicity in a hyper-connected, multi-cloud world. Customers experience frictionless, cost-effective data backup and recovery, no matter where their data resides. Based in Boston, Mass., the company employs 300 people across the globe. HYCU solutions are ideal for Service Providers, SIs and MSPs that can leverage an easy to deploy, manage and maintain a Backup as a Service and DR service offering. More information on becoming a Cloud Services Provider Partner are available at https://www.hycu.com/service-providers/. Or, learn more at www.hycu.com

6. OwnBackup, a leading cloud-to-cloud backup and restore vendor, provides secure, automated, daily backups of SaaS and PaaS data, as well as sophisticated data compare and restore tools for disaster recovery. Helping more than 1,000 businesses worldwide protect critical cloud data, OwnBackup covers data loss and corruption caused by human errors, malicious intent, integration errors and rogue applications. Built for security and privacy, OwnBackup exceeds the General Data Protection Regulation (GDPR) requirements for backed-up data. Co-founded by seasoned data-recovery, data-protection and information-security experts, OwnBackup is a top-ranked backup and restore ISV on Salesforce AppExchange and was awarded the Salesforce Appy Award in 2018. Headquartered in Englewood Cliffs, New Jersey, with R&D, support and other functions in Tel Aviv and London, OwnBackup is the vendor of choice for some of the world’s largest users of SaaS applications.

OwnBackup is a team of passionate, creative, curious individuals from all over the globe, but we all share a common belief: No company operating in the cloud should ever lose data.OwnBackup believes that your data should be safe and accessible no matter where it is stored, so it built a platform that integrates with leading SaaS/PaaS solutions to keep you covered. OwnBackup’s system complements your vendor’s built-in data-protection mechanisms by protecting you from data loss & corruption, caused by accidental deletion, bad code, rogue integrations, and malicious employees. OwnBackup’s availability and downtime is tracked in real-time on a publicly available site for complete transparency into its service, click here to view OwnBackup’s historical availability on-demand — http://status.ownbackup.com/

OwnBackup is drawing on its experiences in data recovery, data protection, and information security to build a best-in-class company that’s prepared for rapid growth.Its belief that you should never lose data on the cloud is driving it to constantly refine and improve its platform. It is the top-ranked backup & restore ISV on the Salesforce.com AppExchange, and it was picked as a Gartner 2015 “Cool Vendor” in Business Continuity and IT Disaster Recovery. For more information, visit http://www.ownbackup.com

7. Datto – Datto Inc. is an award-winning global vendor of backup, disaster recovery (BDR) and Intelligent Business Continuity (IBC) solutions, providing best-in-class technology and support to its 5,000+ channel Partners throughout North America and Europe. Datto is the only hybrid-cloud BDR/IBC vendor that provides instant on- and off-site virtualization, and screenshot backup verification, achieved through its Inverse Chain Technology(TM). Catering to the specific needs of the small to medium-size business market, the Datto product line is comprised of three families; Datto SIRIS 2 (SIRIS 2 Business, SIRIS 2 Professional, SIRIS 2 Enterprise), Datto ALTO 2 (ALTO 2, ALTO XL, ALTO XL Professional), and Datto NAS. Datto partners with the best technology providers in the industry to deliver the most robust and seamless BDR and business continuity solutions available, including: AutoTask, ConnectWise, Kaseya, Level Platforms, Servoyant and StorageCraft. Founded in 2007 by Austin McChord, Datto is privately held. Datto became a publicly traded company in October 2020. For more information, please visit www.datto.com

8. Bacula Systems – Bacula Systems is Switzerland based leading Enterprise Open Core backup and restore software- Company, which combines Bacula’s enterprise-class open standards software with first-class support and professional services. Bacula Systems – a company known in the industry for its commitment to safe, secure and reliable backup solutions. It is a company that represents the disruptive force of open core in the industry, combined with professional development methodologies, support and accountability expected from enterprise software vendors. Leveraging the millions of downloads of the community project, Bacula Enterprise, is by far the most popular Open Core software solution for backup, data recovery and protection of computer data. Bacula software offers up to ten times lower total cost of ownership compared to proprietary solutions, higher reliability and proven performance in mission-critical enterprise environments. Bacula Systems provides world-class technical support, renowned training courses, and Bacula Enterprise Edition products via the Bacula Systems Subscriptions. Since early 2000, Kern Sibbald has been leading the Open Source community in the development of the Bacula project, which over recent years has built up a strong reputation, as a true enterprise-ready backup solution. Bacula Systems SA was founded in 2009 in order to provide full professional support services to the enterprise and via its network of Bacula Partners. For additional information, please visit www.baculasystems.com

9. Acronis – Headquartered in Burlington, MA and founded in 2002, Acronis a truly global provider of leading backup, disaster recovery, and secure file sharing and file access solutions. Acronis is a fast-growing international company with over 700 employees and over 900 partners in more than 145 countries worldwide. Acronis boasts well over 5,000,000 individual customers and over 500,000 business customers from various industries and has more than 50 patents under its name. Acronis’ award winning customer support centers offer 24/7 assistance to its customers worldwide. Acronis can help you securely migrate, protect and recover critical data wherever it resides in your physical, virtual or cloud environments. With a Unified Platform and new generation technology, its innovative solutions are designed to ease the management burden and reduce total cost of ownership, while improving your recovery time objectives. Acronis provides complete, efficient, and reliable backup solutions for desktop, server, virtual, and cloud environments, as well as leading file sharing and sync solutions for mobile devices. For more information, please visit www.acronis.com

10. Arcserve – Arcserve is a leading provider of data protection and recovery solutions, giving organizations the assurance that they can recover their data and applications when needed. Launched in 1983, Arcserve now provides a comprehensive solution for cloud, virtual and physical environments, on premise or in the cloud. Once synonymous with legendary tape backup software, Arcserve has since been hard at work reinventing the industry. After 18 years under the CA Technologies umbrella, Arcserve struck out on its own as an independent, private data protection company. Understanding the importance of being nimble, Arcserve built out a portfolio of data protection technologies with an eye toward flexibility, scalability, and ease-of-use. The company was first to market with a unified data protection solution that offers comprehensive features and functionality, including industry-proven backup, replication, high availability, and true global deduplication—all managed from a single pane of glass. Arcserve Unified Data Protection (UDP) was launched first as a software, then as a physical appliance, and now in the cloud. Backed by unsurpassed support and expertise, Arcserve’s award-winning backup and recovery solutions are used by 45,000 end users in more than 150 countries, and distributed by over 7,500 distributors, resellers and service providers around the world. Arcserve is headquartered in Minneapolis, Minnesota with offices around the world. For additional information, visit www.arcserve.com

11. CommVault – Commvault is a leading provider of data protection and information management solutions. A Gartner Leader in Data Center Backup and Recovery market for the sixth consecutive year, Commvault helps companies worldwide activate their data to drive more value and business insight and to transform modern data environments. With solutions and services delivered directly and through a worldwide network of partners and service providers, Commvault solutions comprise one of the industry’s leading portfolios in data protection and recovery, cloud, virtualisation, archive, file sync and share. Commvault has earned accolades from customers and third party influencers for its technology vision, innovation, and execution as an independent and trusted expert. Without the distraction of a hardware business or other business agenda, Commvault’s sole focus on data management has led to adoption by companies of all sizes, in all industries, and for solutions deployed on premise, across mobile platforms, to and from the cloud, and provided as-a-service. For additional information, please visit www.commvault.com

12. Dell EMC – Dell EMC, a part of Dell Technologies, enables organizations to modernize, automate and transform their data center using industry-leading converged infrastructure, servers, storage and data protection technologies. This provides a trusted foundation for businesses to transform IT, through the creation of a hybrid cloud, and transform their business through the creation of cloud-native applications and big data solutions. Dell EMC services customers across 180 countries – including 98 percent of the Fortune 500 – with the industry’s most comprehensive and innovative portfolio from edge to core to cloud.

Products and Services:
Dell EMC Cloud Disaster Recovery: Cloud DR allows enterprises to copy protected VM’s from their on-prem Data Domain/ Integrated Data Protection Appliance to the public cloud, stored over object storage, then run orchestrated DR testing or Failover of those VMs copies to cloud instances and later automatically Failback those recovered cloud instances back to virtual machines on-premises. Cloud DR also allows customers to efficiently extend their on-premises data protection to VMware Cloud on AWS (VMC on AWS), by recovering the VMs copies stored over AWS S3 storage directly to new virtual machines over the VMC on AWS environment. The VMC on AWS environment is not required during on-going protection and can be obtained on-demand when recovery is needed. Customers that wish to use Data Domain replication from on-prem Data Domain to a DD VE instances in AWS to gain deduplication benefits, as well as Avamar’s agent-based application consistency, can use Cloud DR Advanced mode in order to enable orchestrated recovery of VMs and applications protected on-premises to EC2 instances in AWS and automated failback of those recovered instances back to on-premises virtual machines.

Data Domain Cloud Tier: Data Domain Cloud Tier provides best of breed technology that will allow businesses to gain the advantages of cloud while lowering overall TCO. With DD Cloud Tier, data is natively tiered to the public, private or hybrid cloud for long-term retention. Only unique data is sent directly from Data Domain to the cloud and data lands on the cloud object storage already deduplicated. With Dell EMC’s advanced deduplication, storage footprint is greatly reduced for cost-effective long-term retention in the cloud. A broad ecosystem of backup and enterprise applications and a variety of public and private clouds are supported with DD Cloud Tier. Data Domain’s pricing starts at sub $9K.

Data Protection Suite: Best-in-class Dell EMC Data Protection software solutions accelerate backups up to 20x and recovery up to 10x for mission-critical applications. Dell EMC software covers a broad range of applications, including everything from virtual machines to high IO/change rate OLTP, and VMware workloads running on AWS.

Dell EMC Data Domain has an open ecosystem strategy: It can serve as the target backup storage with both Dell EMC backup software as well as software from Dell EMC’s competitors, who incorporate Data Domain in their total solutions. Data Domain coupled with Dell EMC Data Protection Software gives customers the most out of their investment by providing them with a number of additional benefits.

Integrated Data Protection Appliance (IDPA): Powerful data protection in a single appliance that is easy to deploy and manage — no matter where data resides. The integrated appliance brings together protection storage and software, search, and analytics, plus simplified management and cloud readiness. The clean, intuitive interface of the IDPA System Manager provides a comprehensive view of data protection infrastructure from a single dashboard.

Some of these benefits include:

  • Higher average deduplication rate – and more savings from the resulting reduction in amount of backup capacity required
  • Direct orchestration of long term retention/archiving to the Cloud with control of data movement policies
  • Instant access and restores for VM workloads
  • Cloud disaster recovery (replication and spin off of virtual machines in Amazon Web Service)

Key Features:
Efficient:

  • Reduces storage requirements by 10 – 55x with variable-length deduplication
  • Gain industry leading speed, scalability, and reliability

Comprehensive:

  • Back directly from a wide range of enterprise apps or primary storage
  • Deploy protection storage however you want it

Cloud-Enabled:

  • DD Cloud Tier: Natively tier deduplicated data to the cloud for modern long-term retention
  • DD Cloud DR: Copy backed-up VMs to the public cloud (AWS) for disaster recovery

13. Druva – Druva is the global leader in Cloud Data Protection and Management, delivering the industry’s first data management-as-a-service solution that aggregates data from endpoints, servers and cloud applications and leverages the public cloud to offer a single pane of glass to enable data protection, governance and intelligence–dramatically increasing the availability and visibility of business critical information, while reducing the risk, cost and complexity of managing and protecting it. Druva’s award-winning solutions intelligently collect data, and unify backup, disaster recovery, archival and governance capabilities onto a single, optimized data set. As the industry’s fastest growing data protection provider, Druva is trusted by over 4,000 global organizations, and protects over 40 PB of data. Learn more at www.druva.com and join the conversation at twitter.com/druvainc

14. Actifio – Actifio is the world’s leading Data-as-a-Service platform. It enables thousands of users around the world to deliver their data just as they deliver their applications and infrastructure… as a service available instantly, anywhere. An enterprise-class software platform powered by patented Virtual Data Pipeline™ technology, Actifio frees data from traditional infrastructure to accelerate adoption of hybrid cloud, build higher quality applications faster, and improve business resiliency and availability. Actifio comes with rapid incremental forever backup and scalable instant recovery for database, NAS and file workloads in VMs, physical machines, and the Cloud; and a high-performance, scalable database cloning and instant recovery solution that is purpose-built for Oracle, MS SQL and ERP applications. Enterprise customers use Actifio to build higher quality applications faster by making high fidelity test data instantly available to authorized developers, to improve business resiliency and availability by rendering traditional backup and disaster recovery point tools obsolete, and to accelerate adoption of hybrid cloud architectures in service to those and many other enterprise use cases. Actifio captures data at a block level in native format, according to customized SLA, allowing to manage a physical copy, moved once and stored anywhere. Actifio uses unlimited virtual copies for instant access and protection, reducing business risk by minimizing application downtime, drastically reducing backup windows, and delivering lower RTOs and RPOs, for any size dataset across a wide variety of enterprise applications. Actifio delivers maximum advantage with lower TCO by reducing license, infrastructure, and operational costs, and by eliminating multiple point tools, data sprawl and manual processes. Actifio is Agile, Resilient, Independent, Secure and Scalable. For more, visit www.actifio.com or follow us on Twitter @Actifio.

15. Barracuda (Intronis) – Barracuda (NYSE: CUDA) simplifies IT with cloud-enabled solutions that empower customers to protect their networks, applications, and data, regardless of where they reside. These powerful, easy-to-use and affordable solutions are trusted by more than 150,000 organizations worldwide and are delivered in appliance, virtual appliance, cloud and hybrid deployments. Barracuda’s customer-centric business model focuses on delivering high-value, subscription-based IT solutions that provide end-to-end network and data security. Barracuda’s data protection business includes Barracuda Backup, a solution designed for the cloud that provides the flexibility to easily back up data wherever it resides – on premises or in the cloud – and replicate data to a secure cloud or to a private location. Barracuda Backup can be deployed as a purpose-built backup appliance, in virtual environments, or for cloud-to-cloud backup. Barracuda Backup physical appliance combines software, local storage and offside replication in a single package. Barracuda Backup Vx is a software solution for virtual environments that leverages existing compute and storage infrastructures. Barracuda Cloud-to-Cloud Backup replicates data from supported cloud environments into Barracuda’s Cloud Storage. For additional information, please visit www.barracuda.com

16. Vembu – Vembu is not a direct-to-customer sales Company. This, Chennai, India based company, takes its place in the cloud backup and recovery marketplace as a cost effective, hybrid data protection product developer, catering to the needs of small and medium businesses, through the agency of its partners. With over 2000 MSPs, VARs, resellers and distributors registered and marketing its product– StoreGrid–the company categorizes as a cloud enabler–a service provider’s service provider. Vembu’s award winning software StoreGrid–is built around a simple, pay as you go licensing model that integrates business automation and RMM platforms; supports backup of Disk Image, MS SQL, MS Exchange, MS Sharepoint, MySQL, VMWare and Oracle and the interfaces are completely customizable and brandable. The company nurtures its partners by constantly interacting with them at webinars and conferences and providing them with a range of marketing strategy tools. The company’s dynamic and interactive website provides partners and their customers with access to support forums, How-to videos, knowledge bases, FAQs and other systems. For additional information, please visit www.vembu.com

17. IBM Spectrum Protect – A solution by IBM, one of the leading technology companies, IBM Spectrum Protect™ (ISP) can simplify data protection where data is hosted in physical, virtual, software-defined or cloud environments. With ISP, you can choose the right software to manage and protect your data, while also simplifying backup administration, improving efficiencies, delivering scalable capacity and enabling advanced capabilities. ISP provides a single data protection platform and simplified administration for virtual and physical machines, using snapshots and backups. It is easy to use, provides policy-based multi-site replication, and flexible restore capabilities, allowing companies to scale and adapt quickly to changing business needs, without compromising security, privacy. It scales quickly and reduces backup infrastructure costs by more than half. ISP also feature: Automated deployment steps, Built-in cloud integration, Scalable performance, Multi-site replication, Optimized data protection, Reduced backup infrastructure costs, and Virtualized, software-defined infrastructures. For more information, visit: www.ibm.com

18. FalconStor – FalconStor (OTCQB: FALC) is a data protection company that enables enterprises to modernize their data backup and archival operations across sites and public clouds, delivering increased data security and providing the fastest recovery from a ransomware attack while driving down costs by up to 90 percent. A proven technology leader with more than 30 patents, FalconStor is trusted by more than 1,000 enterprise customers and an ecosystem of managed service providers and resellers worldwide. FalconStor enables secure backup and archival to the chosen cloud provider with no touch operations, making the entire process extremely easy. For more information, visit www.falconstor.com or call 1-866-NOW-FALC (866-669-3252).

19. Axcient – Axcient (founded in 2006 at Mountain View, California), is a privately held company backed by Allegis Capital, Peninsula Ventures and Thomvest. The Company provides cloud services through a network of MSPs, distributors and resellers. A dedicated management team is geared to develop its partner programs and provide continuous support with a variety of training options and co-marketing choices. Certification of at least one member of the staff as Axcient Support Technician is a precondition to partnership. The company does not encourage development or modification of Axcient’s appliances or request for phone based trainings. The frictionless partnership philosophy is extended to partner relations and indirectly to customer relations. The Axcient platform combines ease of use with unprecedented uptime guarantees to the small and medium business segment. Users can expect to enjoy cost savings with pay as you go service features, zero investment in infrastructure, license or software expenditures. The service integrates the best elements of on-premise data protection and online disaster recovery services to ensure customer satisfaction. For additional information, please visit www.axcient.com

20. Redstor (Attix5) – Founded in the UK in 1998, and headquartered in Reading, UK, Redstor is a well-respected and trusted global provider of cloud backup and disaster recovery software and services. Redstor is a fast growing, international, data management software as a service (SaaS) business. In the fall of 2015, Redstor acquired Attix5, a South African based cloud backup enabling company. For almost two decades, Redstor has been the Data Management & Security Company of choice for businesses and organisations looking for a trusted advisor to manage and secure their data. Redstor’s focus is on partner-enabled cloud backup as a service (BAAS), delivering these services either through its own storage platforms around the world, or by supplying its Backup Pro software to power its partners’ own service platforms. Redstor-powered services are currently available through hundreds of partners worldwide. As an ISO 27001 and ISO 9001 certified organisation, Redstor combines technical excellence with proven processes to deliver innovative, flexible and secure cloud services that reduce risks and cost to end users. Redstor platform currently addresses Backup, DR and Archiving and its journey is towards incorporating security, access and insight, all managed and controlled from one place. Restor gives its customers control over their most valuable asset — their data — wherever, whenever, all from a single console. For more information, visit www.redstor.com

21. LiveVault – Launched in 1996, LiveVault is one of the pioneers in the online backup technology. The company has endeavored to service its clients using the latest technological advancements in the rapidly changing cloud backup industry while maintaining close customer relationships. It delivers fully automated, turnkey, backup over the Internet or a private network connection for uninterrupted remote data protection. LiveVault provides automated and continuous backup, with protection intervals as low as every fifteen minutes, to ensure data is protected as it is created. Data is moved offsite to secure; mirrored data centers and is completely secure and protected at every step of the way using stringent procedures, protocols, and standards.

The handling of data has evolved significantly in the past few years in response to security threats and legislative acts addressing privacy and financial reporting issues. The LiveVault service enables businesses which are subject to these regulations to easily comply with the data backup and storage requirements of HIPAA, Sarbanes-Oxley, SEC, NASD, and Graham-Leach-Bliley. LiveVault encrypts all data at the source using 256-bit AES encryption with a unique private/public key pair. For an additional layer of protection, LiveVault® uses the Secure Sockets Layer (SSL) protocol to establish a secure, resilient communication tunnel to offsite data centers.

LiveVault is a General Services Administration (GSA) contract holder and provides online backup services to government clients. These clients include federal, state and local governments and other government entities. LiveVault is headquartered in Los Angeles, CA and has data vaults in various locations in the US and Canada. The Utility Class data centers are access-restricted with 24-hour security guards, strategic monitoring equipment, and electronic security systems. All data facilities are controlled environments with redundant air conditioning and power systems, emergency diesel generators, state-of-the-art fire detection and suppression systems, and multiple high-speed Internet connections. LiveVault is owned by j2 Global. Visit their website www.LiveVault.com

22. N2WS – Headquartered in Tel Aviv, Israel, N2WS was founded in 2012 with the mission of providing enterprise-class data protection for production environments deployed in the public cloud. N2WS Backup & Recovery, Cloud Protection Manager (CPM), was designed and built from the ground up to meet all backup and DR requirements for enterprises on AWS and is now the leading enterprise-class backup, recovery, and disaster recovery solution specifically optimized for Amazon’s AWS EC2 infrastructure. Enterprises can recover complete servers/instances, specific volumes, or individual files in seconds to other AWS regions or even another AWS account, and be back up to production in only seconds. N2WS offers a 30-day free trial with no credit card needed. Interested parties can test-drive all features of our Enterprise edition so they will be able to see first hand how to efficiently and cost-effectively protect their EC2 instances, RDS, DynamoDB, Aurora databases, as well as Redshift clusters, utilize both cross-region and cross-account DR, as well as take advantage of all new and enhanced latest versions. N2WS wasacquired by Veeam in January 2018 for $42.5 Million all cash. Veeam kept N2WS as a separate entity until November 2019, then volunteerly sold it back to the original founders for an undisclosed amount (rumoured to be sold at a huge discount from its original purchase price of $42.5M), after Veeam became the subject of investigation by the US government for its Russian operation. For more information, visit www.N2WS.com

23. CTERA Networks – CTERA Networks revolutionizes storage and data protection for SMBs and branch offices with Cloud Attached Storage®, a hybrid solution that combines secure cloud storage services with on-premises storage appliances for a seamless user experience. Current solutions for data storage and data protection – such as file servers and backup tape drives – are unnecessarily expensive and disparate. Since SMBs and branch offices are in short supply of IT staff and data management practices are often non-existent, there is a real need for a cost-effective, all-in-one solution for centralized storage and secure off-site data protection. Cloud Attached Storage by CTERA is the answer to the storage and data protection woes of SMBs and remote/branch offices (ROBO). Integrating reliable cloud storage with appliances that are integrated cloud storage gateways and network attached storage (NAS) devices, it provides much needed reliability and storage flexibility, bundled as an easy-to-use, remotely managed storage service. CTERA has designed its technology to cater to the needs of service providers, and is partnering with leading cloud service providers, MSPs and resellers to deliver managed storage, hybrid local/off-site backup and file sharing services to their customers. CTERA Networks is privately held and backed by Benchmark Capital. For additional information, please visit www.ctera.com

24. Unitrends – Headquartered in Burlington, MA, Unitrends increases uptime, productivity and confidence in a world in which IT professionals must do more with less. Unitrends leverages high-availability hardware and software engineering, cloud economics, enterprise power with consumer-grade design, and customer-obsessed support to natively provide all-in-one enterprise backup and continuity. The result is a “one throat to choke” set of offerings that allow customers to focus on their business rather than backup. Unitrends eliminates backup complexity and stress with all-in-one enterprise backup and continuity. Unitrends provides simpler, better, and smarter IT solutions, allowing you to get more free time with all-in-one backup appliances powered by simplicity. Unitrends solutions are pre-integrated and optimized with high-speed performance, deduplication, and predictive analytics needed to protect diverse environments. Built-in ransomware detection and SLA Policy Automation save time and deliver complete confidence in recovery. Learn more by visiting www.unitrends.com or follow on Twitter @Unitrends and LinkedIn.

25. Infrascale – Infrascale is a parent company of SOS Online Backup (www.SOSOnlineBackup.com), a leading provider of cloud backup, recovery and archiving solutions for businesses and consumers, supporting more than 50,000 small businesses and individuals around the world. Infrascale provides the most powerful disaster recovery and cloud backup solutions in the world, and is recognized as a 2017 Gartner Leader for Disaster Recovery as a Service. Founded in 2011, the company aims to give every organization the ability to recover from a disaster — quickly, easily and affordably. Combining intelligent software with the power of the cloud, Infrascale cracks the disaster recovery cost barrier by removing the complexity and cost of standby infrastructure to restore operations in minutes with a push of a button. Infrascale equips businesses with the confidence to handle the unexpected by providing less downtime, greater security, and always-on availability. In March 2020, SOS Online Backup, a solution offered by Infrascale, suffered a data breach as discovered and reported by vpnMentor. Personal data containing allegedly more than 135 million users were found unencrypted in a misconfigured Amazon S3 bucket. Visit www.infrascale.com or follow us on Twitter at @Infrascale for more information.

© 2021 – BackupReview.info

 

 

 

www.BackupReview.info releases ranking of the top 100 online backup companies, categorized into four sectors: Consumer, SMB, Enterprise, and Enablers; based on predefined standardized criteria, to help users select the appropriate online backup company.

December 01, 2021 – BackupReview.info publishes the December 2021 list of top ranking cloud backup companies, categorized into four sectors: ConsumerSMBEnterprise, and Enablers. The list comprises of 25 companies under each category, for a total of 100 online backup solutions, based on standardized criteria defined on its site. This standardization of selection criteria goes a long way towards enabling users select the right online backup service for their specific needs.

“From 2005 to 2008, we ranked the top 25 companies on a monthly basis in one basket; and that was not easy to identify the solutions easily. Then in 2009, we added 50 more companies and started ranking the top 75 companies in three sectors – Consumer, SMB and Enterprise solutions. And beginning the October 2011 ranking, we have added a fourth column that identifies and ranks the top enablers”, said editor Ezra Brook. The top companies are presented in order of their rankings.

With hundreds of companies offering seemingly the same service, choosing the best online backup provider could be challenging. Users need a standard set of criteria on which to evaluate the different services and understand which one would suit them the best. Factors that generally play a role in selecting online backup service include service requirements such as: cost per GB, cost per PC or per account, security, speed (backup and restore), reliability, uptime, quality, customer service, accessibility and financial standing of the company.

The top 5 cloud backup companies, from each sector include:

  • Consumer: Carbonite Safe, Backblaze, IDrive, Acronis, and SpiderOak
  • SMB: Arcserve, Carbonite Server, Backup-Everything, IDrive Business, and Code42
  • Enterprise: Databarracks, StorageCraft, Code42, Assured-DP, and StorageGuardian
  • Enablers: Asigra, Veeam, Rubrik, Novastor, and HYCU

The complete list of the top 100 cloud backup companies for December 2021 is found here.

BackupReview.info’s reviews, daily up to date news, articles and monthly rankings of the top online backup services, are supplemented with the voices from online backup and data storage companies. The CEO Interview spotlight section features interviews with CEOs/VPs and other senior executives of online backup and data storage companies. The ranking of the top 100 online backup companies is the endpoint of dedicated research and hours of hard work on the part of our research team. Interviews with key personnel in the online backup and data storage industry, reviews, articles on backup basics and links to third party websites on the site, bring a 360 degree view of the online backup and data storage industry.

About the company:

BackupReview.info has been running since 2004 and is dedicated to serving the online backup and data storage industry. By providing all relevant information, BackupReview helps potential users make the right choice for online backup solution. The site’s daily posts are published in a number of other websites, including Twitterand its complimentary blog. Feature highlights of the site include: Daily up to date cloud backup and storage news, articles on backup basics, reviews of online backup services by its editors, and from other review sites, and aggregated online backup companies’ corporate blogs.

For more information, please visit: http://www.backupreview.info/.

Contact:

BackupReview.info

editor {@} BackupReview.info

http://www.BackupReview.info

 

 

 

New Features complement Unique Architecture to Safeguard Users against Ransomware

Wilmington, DE – November 30, 2021 — /BackupReview.info/ — Accelerating its leadership in high performance backup and recovery for large enterprises and managed services providers, Bacula Systems today announced the general availability of Bacula Enterprise 14 to further broaden its wide compatibility and protect medium and large IT centers that use both new and legacy technologies. This enables large or complicated IT environments to be protected from one single backup and high speed recovery platform.

Just some of the new technologies in Bacula 14.0 are:

  • Proxmox module, featuring incremental backup
  • Nutanix filer module, with HFC technology
  • M365 module updated to also encompass Teams
  • State of the art security and ransomware protection

Stefan Dunsch, Head of Service Operations at itesys, Switzerland’s leading MSP for SAP Basis technology services said “Our systems need to quickly fit our customers’ complex and changing requirements. We need data backup and protection that completely fits our service offering, and allows us to add new innovations. As we roll out an increasing number of services and features to our customers, our backup and recovery solution has to be easy to customize and automate. Implementing Bacula has been a clear factor in itesys achieving its goals”.

Bacula Enterprise is a highly scalable backup and recovery solution that integrates with an especially wide range of virtual machines, databases, clouds and containers. Its architecture helps to make organizations especially secure against different types of malware.

“Just as important as the exciting new capabilities announced today is is that Bacula 14 is packed with a range of new security and ransomware protection features, including anti-virus tools to detect potential threats. It also features one-time password authentication allowing use of smartphones with bio-metric functions to access Bacula’s web GUI” said Frank Barker, CEO of Bacula Systems.

“Bacula enables medium and large organizations to protect their entire IT estate from one platform. It scales to many thousands of users, is cloud-agnostic, has advanced protection against ransomware, point in time recovery, and integrates with a vast range of different storage media. It natively integrates with more virtual machines than any other backup vendor. When combined with Bacula’s advantageous licensing model, significant savings and performance increases are being seen by our military, government, ISV, and HPC customers” said Aristide Caraccio, VP of Sales and Marketing at Bacula Systems.

Bacula Systems customers include NASA, Navisite, Swisscom, SDV Plurimédia, Locaweb and many more.

About Bacula Systems:
Bacula Enterprise Edition is a highly scalable backup and recovery software for large organizations, data centers and MSPs. www.baculasystems.com

Contact Details
Rob Morrison
+41 21 641 60 80
rob.morrison@baculasystems.com

Source: Bacula Systems

 

 

 

Companies Join Forces to Amplify Results for Customers: Faster Time-to-Value for Hybrid Multi-Cloud Deployments, Tightly Aligned Sales and Support, and World-class Customer Experience

SAN JOSE, Calif. — December 1, 2021 — /BackupReview.info/ — CSS Corp and Panzura have announced a strategic partnership to help organizations accelerate multi-cloud orchestration and management journeys. The companies will co-create strategies to reduce time-to-value for hybrid multi-cloud deployments, and collaborate to align sales, support teams, and onboarding processes. The partnership will also see Panzura and CSS Corp work together to execute joint go-to-market programs to offer new products, and services with better customer experience, and decreased expense and risks for customers.

With more than 25 years of expertise in cloud consulting and managed services, CSS Corp is a leading global IT services and technical support solutions provider. Through its cloud transformation services, the company simplifies migration and cloud-based data management planning to quickly weed out complexity, improve productivity, and boost operational efficiency as enterprises move beyond Infrastructure-as-a-Service (IaaS) to Platform-as-a-Service (PaaS)—at reduced costs.

As a leading Panzura business partner, CSS Corp has been among the first to work with Panzura across the spectrum from product innovation and support, to delivery and customer support services.

“We have been associated with Panzura for the last seven years, and they have proven themselves as providers of seamless storage and data management solutions in the cloud with advanced security and deduplication capabilities. CSS Corp, with over two decades of experience and a diverse team of experts, provides cloud services, managed services, and cloud migration that enables enterprises to optimize cost and boost operational efficiency. Together with Panzura, we are making storage and data management easier for customers and helping them securely access information anywhere, anytime at speed,” said Ajay Tyagi, executive vice president at CSS Corp.

“We’re creating a powerful value matrix with CSS Corp that will help our shared customers move fast toward digital transformation,” said Dan Waldschmidt, chief revenue officer at Panzura. “CSS Corp understands where the Panzura global file system fits in the overall transformation roadmap, and our partnership is all about working together to deliver more insight as we rethink the buyer’s journey, increase customer satisfaction, and outperform the market.”

The Panzura global file system allows organizations to accrue the benefits of cloud-based data management quickly and securely. It integrates with almost all public and private cloud object storage platforms and replaces legacy storage with a modern, fit-for-purpose solution for storing, moving, retrieving, and sharing unstructured data regardless of where files or users are located. It provides unrivaled efficiency, stability, and edge performance and reduces the overall cost by 70%. The global file system also offers immutable security and data resilience for the hybrid multi-cloud with the highest protection and recovery against ransomware and other threats.

The new partnership allows enterprise customers to unlock the power and potential of their Panzura deployments. CSS Corp will leverage the Panzura global file system to help customers orchestrate and manage their cloud data environments, and the data-driven services offered by cloud providers, in a way that best achieves their business and operational goals. CSS Corp will also help customers take full advantage of the recently introduced Panzura Guarantee, a 30-day, no-risk implementation promise for taking the Panzura global file system live.

About CSS Corp
CSS Corp is a global customer experience and technology services provider, disrupting the industry with a unique intersection of industry-leading proprietary solutions, resilient operations, and innovative business engagement models. The company is a digital transformation partner of choice for its clients, which include the world’s top innovators across industries, from mid-market players to large enterprises. Its diverse team of over 10,000 customer-centric thinkers, collaborators, and co-creators across 19 global locations is passionate about helping clients succeed through intelligent automation-led outcomes. The company has overcome macroeconomic headwinds to become the industry’s fastest growing and most awarded company in its revenue range. To know more, please visit https://www.csscorp.com Follow CSS Corp on LinkedIn, Facebook and Twitter.

About Panzura
Panzura makes hybrid multi-cloud data management seem easy. Panzura’s data management platform is a single, unified data engine designed to securely power the most rigorous, large-scale multi-site enterprise data work?ows across the globe. Intelligent edge technologies enable LAN performance with cloud economics together with simplified data management, advanced analytics, reduced operational complexity, and improved security. Find out more at panzura.com

Panzura is a trademark or registered trademark of Panzura LLC in the United States and/or other countries. All other trademarks, registered trademarks and/or logos are property of their respective owners.

Contacts:
Panzura Media Relations
pr@panzura.com

Susheela Singh
susheela.kumari@csscorp.com

Source: Panzura

 

 

 

CTERA Chosen by Peraton to Manage Petabytes of Hybrid Cloud File Storage Across Hundreds of VA Sites with AWS GovCloud (US)

New York, NY – December 1st, 2021 — /BackupReview.info/ — CTERA, the distributed cloud file storage leader, announced that Peraton, the world’s leading mission capability integrator and transformative enterprise IT provider, has selected CTERA’s file platform to support a $497 million contract to provide infrastructure-as-a-managed service (laaMS) for U.S. Department of Veterans Affairs (VA) storage and computing infrastructure facilities across the U.S. and globally.

Under the contract CTERA, which provides the only global file system included on the Department of Defense Information Network (DoDIN) Approved Products List (APL), will deliver file services for mission-critical workloads, connecting up to 300 distributed sites to the VA Enterprise Cloud powered by AWS GovCloud (US).

The solution design is based on centrally managed CTERA Edge Filers deployed over on-premises hyperconverged infrastructure, enabling the consolidation of VA’s legacy network-attached systems (NAS) and eliminating application-specific infrastructure silos. All data is securely replicated to AWS GovCloud (US), with special added support from CTERA for AWS Snowball to facilitate efficient bulk data transfer.

“CTERA offers a proven solution for unstructured data management challenges at the Federal level,” said Eric Watson, Senior Program Manager, Peraton. “By enabling VA to embark on an edge-to-cloud file services strategy without compromising on highly stringent data security requirements, CTERA represents the ideal modern file storage component of the IaaMS contract.”

“Federal agencies are consolidating aging systems and transitioning to consumption-based cloud storage using industry best practices,” said Sandy Carter, Vice President of Worldwide Public Sector Partners and Programs for Amazon Web Services (AWS). “AWS and our Partners are helping the VA and the Public Sector at large extract value from their unstructured data once in the cloud without impacting its security posture.”

“Legacy data center NAS infrastructure lacks native cloud support and cannot meet the scale and elasticity requirements of modern data workloads,” said Emil Velasquez, CTERA Vice President for Federal Sales. “Being selected by Peraton to support the VA’s modernization is a testament to the strong relevance of global file systems for public sector agencies, and further supports CTERA’s standing as the undisputed leader of the 2021 GigaOm Radar for Distributed Cloud File Storage.”

IaaMS will support up to 220+ petabytes of VA’s mission critical data, ranging from business operations data to the medical images used in veteran care. Additionally, IaaMS will enable VA to create a standardized service delivery model that eliminates application-specific infrastructure silos, leverages cloud-based storage capabilities, and implements industry best practices for storage.

About CTERA
CTERA is the edge-to-cloud file services leader, powering more than 50,000 connected sites and millions of corporate users. CTERA offers the industry’s most feature-rich global file system, enabling enterprises to centralize file access from any edge location or device without compromising performance or security. The CTERA Enterprise File Services Platform makes it easy for organizations to consolidate legacy NAS, backup and disaster recovery systems, and collaboration platforms while reducing costs by up to 80 percent versus legacy solutions. CTERA is trusted by the world’s largest companies, including leading industrial, media, and healthcare organizations, as well as the U.S. Department of Defense and other government organizations worldwide. For more information, visit http://www.ctera.com

Media Contact
Joanne Hogue
Smart Connections PR for CTERA
410-658-8246
joanne@smartconnectionspr.com

Source: CTERA

 

 

 

  • New Amazon S3 Glacier storage class is designed to offer the lowest cost storage for milliseconds retrieval of archived data—also available as a new access tier in Amazon S3 Intelligent-Tiering
  • New Amazon FSx for OpenZFS service makes it easy to move data stored in on-premises commodity file servers to AWS
  • New Amazon EBS Snapshots Archive storage tier reduces the cost of storing archival snapshots by up to 75%
  • AWS Backup brings centralized data protection and automated compliance auditing to Amazon S3 and VMware workloads

LAS VEGAS, NV – November 30, 2021 — /BackupReview.info/ — Today, at AWS re:Invent, Amazon Web Services, Inc. (AWS), an Amazon.com, Inc. company (NASDAQ: AMZN), announced four new storage services and capabilities that deliver more choice, reduce costs, and help customers better protect their data. Amazon Simple Storage Service (Amazon S3) Glacier Instant Retrieval is a storage class that provides retrieval access in milliseconds for archive data—now available as a new access tier in Amazon S3 Intelligent-Tiering. Amazon FSx for OpenZFS is a managed file storage service that makes it easy to move on-premises data residing in commodity file servers to AWS without changing application code or how the data is managed. Amazon Elastic Block Store (Amazon EBS) Snapshots Archive is a new storage tier for Amazon EBS Snapshots that reduces the cost of archiving snapshots by up to 75%. AWS Backup now supports centralized data protection and automated compliance reporting for Amazon S3, as well as for VMware workloads running on AWS and on premises. The new storage innovations announced today provide customers greater flexibility in how they manage storage while lowering costs and improving data management and protection capabilities.

“Every business today is a data business. One of the most important decisions that a business will make is where to store their data,” said Mai-Lan Tomsen Bukovec, Vice President, Block and Object Storage at AWS. “As these latest storage services and capabilities show, AWS is the most powerful and lowest cost way to access and protect data. Our rapid innovation makes it the best storage choice for customers now and in the future.”

Amazon S3 Glacier Instant Retrieval offers retrieval in milliseconds for archived data at the lowest cost in the cloud—also available as a new tier in Amazon S3 Intelligent-Tiering
Amazon S3 offers a wide range of storage classes that deliver the lowest cost storage for different data access patterns. Customers often need to store petabytes of data that is only accessed occasionally, but that must be highly available and immediately accessible when requested (e.g. medical records, public health research data, media content, etc.). Today, customers have several options to store infrequently accessed data. Customers with data that is rarely accessed and requires retrieval times from a few minutes to a few hours can use S3 Glacier. Customers with data that is accessed once per month on average but still requires rapid retrieval can use S3 Standard-Infrequent Access (S3 Standard-IA) for only a slightly higher price. However, some customers want a combination of the lower storage costs offered by S3 Glacier and the fast retrieval of S3 Standard-IA so they can meet their data access needs even more cost effectively.

S3 Glacier Instant Retrieval is a new storage class that is designed to offer milliseconds access for archive data, so customers can achieve the lowest cost storage in the cloud for data that is stored long-term and rarely accessed but requires immediate retrieval when requested. With S3 Glacier Instant Retrieval, customers no longer need to choose between optimizing for retrieval time or cost. Customers who move from S3 Standard-IA to S3 Glacier Instant Retrieval can save up to almost 70% for data that is accessed only a few times per year. Customers can now choose from three archive storage classes optimized for different access patterns and storage duration—S3 Glacier Flexible Retrieval (formerly S3 Glacier), S3 Glacier Deep Archive, and now S3 Glacier Instant Retrieval. S3 Glacier Instant Retrieval is the ideal storage class for customers who are sensitive to per-GB storage costs due to growing data volumes, by providing them the same low latency and high throughput of S3 Standard-IA, at the lowest cost for archive storage in the cloud.

S3 Glacier Instant Retrieval is now also available as a new access tier in S3 Intelligent-Tiering storage class. S3 Intelligent-Tiering optimizes storage costs by automatically moving data to the most cost-effective access tier based on access frequency without performance impact, retrieval fees, or operational overhead. Customers who need instant access to data and have unknown or changing access patterns can receive the same economic benefits as S3 Glacier Instant Retrieval with the new Archive-Instant Access tier in S3 Intelligent-Tiering without having to worry about where they are storing their data. To get started with S3 Glacier Instant Retrieval, visit aws.amazon.com/s3/glacier/instant-retrieval

Amazon FSx for OpenZFS makes it easy to move data residing in on-premises commodity file servers to AWS without changing application code or how the data is managed
Organizations of all sizes are migrating their on-premises data stores to the cloud to increase agility, improve security, and reduce costs. Today, many of these organizations store their data using on-premises file storage built on commodity, off-the-shelf servers and open-source software like the popular ZFS file system. These file servers provide access to data via industry-standard protocols, offer a wide variety of data management capabilities like point-in-time snapshots, cloning, and compression, and deliver hundreds of thousands of IOPS with sub-millisecond latencies. Many storage and application administrators have developed familiarity and expertise using tools that rely on the specific capabilities and performance of these file servers when running their applications. Consequently, when migrating these applications to the cloud, storage and application administrators have to forgo the capabilities they are familiar with, and in many cases, re-architect their applications, tools, and workflows, which takes a lot of time and effort. These administrators would prefer to run their file servers on AWS to take advantage of improved agility, security, and cost but until now have not had the option of doing so.

With Amazon FSx for OpenZFS, customers can now launch, run, and scale fully managed file systems on AWS and replace their commodity, off-the-shelf servers they run on premises to achieve better agility, security, and lower costs. Amazon FSx for OpenZFS is the newest member of the Amazon FSx family of services that provides fully-featured and highly-performant file storage powered by widely-used file systems (including Amazon FSx for Windows File Server, Amazon FSx for Lustre, and Amazon FSx for NetApp ONTAP). Amazon FSx for OpenZFS is built on the open-source OpenZFS file system, which is widely used on premises to store and manage exabytes of application data for workloads that include machine learning, electronic chip design automation, application build environments, media processing, and financial analytics, where scale, performance, and cost efficiency are of utmost importance. Powered by AWS Graviton processors and the latest AWS disk and networking technologies, Amazon FSx for OpenZFS delivers up to 1 million IOPS with latencies of hundreds of microseconds. With complete support for OpenZFS features like instant point-in-time snapshots and data cloning, Amazon FSx for OpenZFS makes it easy for customers to move their file servers to AWS, providing all of the familiar capabilities storage and application administrators rely on, and eliminating the need to perform lengthy qualifications and change or re-architect existing applications or tools. To get started with Amazon FSx for OpenZFS, visit aws.amazon.com/fsx/openzfs

Amazon EBS Snapshots Archive storage tier reduces cost of archival snapshots by up to 75%
Today, customers use Amazon EBS Snapshots to protect data in their EBS volumes. Amazon EBS Snapshots provide incremental storage backups, retaining only the changes made to data in an EBS volume since the last snapshot. This makes Amazon EBS Snapshots cost effective for data that needs to be kept for days or weeks and requires retrieval within minutes. However, some customers also have business needs (e.g. snapshots created at the end of projects) and compliance needs (e.g. snapshots taken to audit recoverability) that require them to retain snapshots for months or years. While snapshotting data is a necessary business practice, customers also want ways to reduce the cost of these longer-term archival snapshots. To accomplish this today, some customers use third-party tools to move EBS snapshots to different tiers in Amazon S3, which increases costs and makes it complicated to track the lineage of these archival snapshots, but most customers simply absorb the increased cost of archiving snapshots for a long period of time.

To address the cost and complexity of archiving snapshots, Amazon EBS Snapshots Archive delivers a new storage tier that saves customers up to 75% of the cost for Amazon EBS Snapshots that need to be retained for months or years. Customers can now move their snapshots to EBS Snapshots Archive with a single application programming interface (API) call and reduce the cost of archival snapshots while retaining visibility alongside other Amazon EBS Snapshots. A Snapshot Archive is a full snapshot that contains all the blocks written into the volume at the moment that the snapshot is taken. To create a volume from the snapshot archive, customers can restore the snapshot archive to the Amazon EBS Snapshot standard tier, then create a volume from the snapshot in the same way they do today. To get started with Amazon EBS Snapshots Archive, visit aws.amazon.com/ebs/snapshots

AWS Backup brings centralized data protection and automated compliance auditing to Amazon S3 and VMware workloads
Today, customers use AWS Backup to meet their business continuity and regulatory compliance needs. AWS Backup enables customers to centrally protect their application data across AWS compute, database, and file and block storage services. Using a single data protection policy, customers can configure, manage, and govern backup and restore activity on Amazon Elastic Compute Cloud (Amazon EC2), Amazon EBS, Amazon Relational Database Service (Amazon RDS), Amazon Aurora, Amazon DynamoDB, Amazon DocumentDB, Amazon Neptune, Amazon FSx, Amazon Elastic File System (Amazon EFS), and AWS Storage Gateway. To meet evolving regulatory requirements, customers can opt for automated, continuous backup monitoring and generate auditor-ready reports using AWS Backup Audit Manager for compliance purposes. To protect against accidental or malicious deletions (e.g. in the case of a ransomware attack), customers can use fine-grained access controls built into AWS Backup as well as use AWS Backup Vault Lock to make their backups immutable. In addition, AWS Backup’s integration with AWS Organizations enables customers to extend their data protection policy across multi-account deployments and use its cross-Region and cross-account backup capabilities to achieve global resiliency and durability for their mission-critical data.

Now with AWS Backup support for Amazon S3 and VMware workloads, AWS is extending AWS Backup’s capabilities to more cloud and on-premises workloads. Previously, administrators would write custom scripts to combine S3 data across multiple AWS Regions and accounts with AWS Backup to get a consolidated view of their backups, as well as combine S3 reports with AWS Backup built-in reports to demonstrate compliance with application-level backup policies. Administrators would also parse through S3 data to find the point-in-time they want to restore an application. Now, with AWS Backup support for S3, customers can replace the complicated custom scripts they used to centrally manage backups of their entire applications. Customers can also now replace parsing through S3 data with AWS Backup’s point-in-time restore functionality, allowing them to specify the time to restore—down to the second. To learn more about AWS Backup for Amazon S3, visit aws.amazon.com/backup

With AWS Backup support for VMware workloads, customers can now protect their VMware workloads whether they run on premises or in the VMware Cloud on AWS (VMC). Up until now, customers running VMware workloads on premises and in the AWS Cloud maintained separate solutions to protect their data alongside AWS services already supported by AWS Backup. This required them to manage separate tools and policies to protect their data in VMware environments, as well as generate distinct reports to demonstrate compliance with backup policies. With AWS Backup for VMware, customers can extend AWS Backup’s centralized data protection, governance, and compliance features they already use to protect their AWS applications to their VMware workloads, whether running in AWS or in their own datacenters. To get started with AWS Backup for VMware, visit aws.amazon.com/backup

Capital One offers a broad spectrum of financial products and services to consumers, small businesses, and commercial clients through a variety of channels. “We wanted to find a way to quickly optimize storage costs across the largest and fastest growing S3 buckets across the enterprise. Because the storage usage patterns vary widely across our top S3 buckets, there was no clear-cut rule we could safely apply without taking on some operational overhead,” Jerzy Grzywinski, Director of Software Engineering at Capital One. “The S3 Intelligent-Tiering storage class delivered automatic storage savings based on the changing access patterns of our data without impact on performance. We look forward to S3 Intelligent-Tiering’s new access tier, which will allow us to realize even greater savings without additional effort.”

The National Association for Stock Car Auto Racing, Inc. (NASCAR) is the sanctioning body for the No. 1 form of motorsports in the United States. “The new Amazon S3 Glacier Instant Retrieval storage class provides low storage cost for the NASCAR Library, which houses our growing media archives and enables our content creators to interact with data of any age in near real time,” said Chris Wolford, Senior Director of Media & Event Technology at NASCAR. “We manage one of the largest racing media archives in the world. Our customers, who range from the NASCAR Cup series teams to producers, editors, and engineers, generate video, audio, and images, many of which are stored in perpetuity. The new storage class will help us save on our storage cost while greatly improving on our restore performance. Now, we can benefit from lower storage cost, with the resiliency of multi-AZ storage, and with immediate retrievals for any media asset!”

Epic Games is the interactive entertainment company behind Fortnite, one of the world’s most popular video games with over 400 million players. Founded in 1991, Epic transformed gaming with the release of Unreal Engine—the 3D creation engine powering hundreds of games now used across industries, such as automotive, film and television, and simulation, for real-time production. “Using S3 Intelligent-Tiering, we can implement storage changes without interruptions to service and activity. Our data is automatically moved to lower-cost tiers based on data access, saving us a lot of development time in addition to reducing costs,” said Joshua Bergen, Cost Management Lead at Epic Games. “With that time, my team can focus on identifying other opportunities to reduce infrastructure costs in support of our organizational goals. The new access tier in S3 Intelligent-Tiering will help us save even more on storage costs.”

STEMCELL Technologies is a global biotechnology company that supports life sciences research with more than 2,500 specialized reagents, tools, and services. “Many of our departments, including quality and finance, have a need for long-term data retention to meet regulatory requirements for our products and services,” said Hikaru Mathieson, Senior Systems Engineer at STEMCELL Technologies. “We have a large inventory of EBS Snapshots supporting our use of services like AWS Storage Gateway and Amazon EC2. Maintaining this inventory is an important piece of our regulatory compliance and an easy transition of snapshots over to archival-tier storage has been a long-desired dream. We are excited about EBS Snapshots Archive for its ease-of-use and low cost for long-term retention of our snapshots. In the future, we plan to consolidate more of our long-term backups, such as general department file backups, into EBS Snapshots Archive.”

Zilliant, Inc. is the industry leader in intelligent B2B price optimization, price management, and sales guidance SaaS software. “We backup our active volumes into EBS Snapshots and retain them for 14 days. However, we need to retain many of our snapshots for months or years, so we use scripts to manage snapshot data lifecycle into lower-cost, colder storage tiers,” said Shams Chauthani, CTO at Zilliant. “Maintaining and managing these scripts is getting complex at scale. We are delighted to use EBS Snapshots Archive, as it eliminates the need to maintain scripts and enables creation of secure end-to-end flows for cost effective archival of our snapshots.”

Loews Corporation is a diversified company with businesses in the insurance, energy, hospitality, and packaging industries. “We currently have server instances running in AWS and in our data center on premises,” said Emilio Renzullo, Senior Engineer, Infrastructure Services at Loews. “We are currently using AWS Backup to protect our Amazon EC2 instances, and another product to backup our on-premises VMware virtual infrastructure to Amazon S3 for archiving. AWS Backup’s new VMware capability will enable us to streamline and centralize all our backup operations, while also cutting down on costs.”

About Amazon Web Services
For over 15 years, Amazon Web Services has been the world’s most comprehensive and broadly adopted cloud offering. AWS has been continually expanding its services to support virtually any cloud workload, and it now has more than 200 fully featured services for compute, storage, databases, networking, analytics, machine learning and artificial intelligence (AI), Internet of Things (IoT), mobile, security, hybrid, virtual and augmented reality (VR and AR), media, and application development, deployment, and management from 81 Availability Zones within 25 geographic regions, with announced plans for 27 more Availability Zones and nine more AWS Regions in Australia, Canada, India, Indonesia, Israel, New Zealand, Spain, Switzerland, and the United Arab Emirates. Millions of customers—including the fastest-growing startups, largest enterprises, and leading government agencies—trust AWS to power their infrastructure, become more agile, and lower costs. To learn more about AWS, visit aws.amazon.com

About Amazon
Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Amazon strives to be Earth’s Most Customer-Centric Company, Earth’s Best Employer, and Earth’s Safest Place to Work. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Career Choice, Fire tablets, Fire TV, Amazon Echo, Alexa, Just Walk Out technology, Amazon Studios, and The Climate Pledge are some of the things pioneered by Amazon. For more information, visit amazon.com/about and follow @AmazonNews.

Contact:
Media Hotline
Amazon-pr@amazon.com
www.amazon.com/pr

Source: Amazon

 

 

 

On-prem Object Storage Solution Provides Native S3 Compatibility and Limitless Scalability

SAN MATEO, CA – December 1, 2021 — /BackupReview.info/ — Cloudian® today announced planned support for the new AWS Outposts servers, enabling customers to expand their Outposts use cases with Cloudian’s HyperStore® S3-compatible object storage. Cloudian’s storage software and appliances provide limitless on-prem capacity for workloads that require local data residency and low-latency data access. Today’s announcement follows HyperStore achieving AWS Service Ready designation for the Outposts rack in June and reflects the two companies’ increased collaboration.

With Cloudian’s upcoming offering, customers will be able to deploy HyperStore alongside their Outposts servers in 1U and 2U configurations. In addition, customers will have the option to run Cloudian software directly on the Outposts 2U, utilizing the device’s underlying direct attached storage media.

The new AWS Outposts are rack-mountable devices in compact servers, making them particularly beneficial to organizations with limited space or smaller capacity requirements, such as retail stores, financial and legal services branch offices, healthcare providers and factory floors.

In addition to providing fully native S3 API compatibility, other key Cloudian HyperStore benefits include:

  • Modular, limitless scalability:Ensure timely and reliable completion of data replication with full-stack monitoring of the system environment, including tracking of network traffic and performance between replicated HyperStore clusters.
  • Data residency:Store all data locally, ensuring compliance with data governance regulations.
  • Low latency:Access data locally from Cloudian’s all-flash or HDD-based storage for optimized performance.
  • Geo-distribution:Manage data globally across multiple sites within a single namespace,
  • Data immutability for ransomware protection and compliance:Employ Amazon S3 Object Lock to prevent cybercriminals from encrypting data—enabling quick, easy recovery of an unencrypted backup copy without paying ransom—and also to meet governance and legal hold demands.
  • Robust security:Further protect data through secure shell, integrated firewall, RBAC/IAM access controls, AES-256 server-side encryption for data at rest and SSL for data in transit—all in a platform certified with U.S. Department of Defense, SEC Rule 17a-4(f), FINRA Rule 4511, and CFTC Rule 1.31(c)-(d) security requirements.
  • Hybrid cloud-readiness:Leverage replication and policy-based data tiering to Amazon S3.
  • Advanced metadata tagging:Accelerate data searches and more easily integrate with AI/ML/analytics applications.

“Customers are looking for better ways to store and manage their data across the enterprise as part of a comprehensive digitization initiative,” said Joshua Burgin, general manager, AWS Outposts, Amazon Web Services, Inc. “With Cloudian HyperStore for AWS Outposts, customers can benefit from a comprehensive data management solution for any application in their own environment, on AWS Outposts, or in AWS Regions, for a truly consistent hybrid experience.”

“As users increasingly deploy modern applications on-premises, they need a modern storage foundation to support these applications,” said Jon Toor, chief marketing officer, Cloudian. “Cloudian’s HyperStore object storage provides this foundation, giving them the scalability and flexibility of a public cloud while ensuring they can fully control and secure their data and quickly access it whenever and wherever required.”

To learn more about Cloudian object storage for AWS Outposts, visit www.cloudian.com/aws

About Cloudian
Cloudian is the most widely deployed independent provider of object storage. With a native S3 API, it brings the scalability and flexibility of public cloud storage into the data center while providing ransomware protection and reducing TCO by up to 70% compared to traditional SAN/NAS and public cloud. The geo-distributed architecture enables users to manage and protect object and file data across sites—on-premises and in the cloud—from a single platform. Available as software or appliances, Cloudian supports conventional and containerized applications. More at cloudian.com

U.S. Media Contact
Jordan Tewell
10Fold Communications
cloudian@10fold.com
+1 415-666-6066

EMEA Media Contact
Jacob Greenwood
Red Lorry Yellow Lorry
cloudian@rlyl.com
+44 (0) 20 7403 8878

Source: Cloudian

 

 

 

  • Third Consecutive Quarter of Accelerating Growth, with Revenue Growth of 14% Year-Over-Year
  • Remaining Performance Obligations and Billings Year-Over-Year Growth of 25%
  • Revenue and Non-GAAP Operating Margin Guidance Raised for the Full Year of Fiscal 2022
  • New $200 Million Expansion of its Stock Repurchase Program

REDWOOD CITY, Calif. – November 30, 2021 — /BackupReview.info/ — Box, Inc. (NYSE:BOX), the leading Content Cloud, today announced preliminary financial results for the third quarter of fiscal year 2022, which ended October 31, 2021.

“Our strong third quarter results show the continued momentum of our long-term growth strategy, as more customers are turning to the Box Content Cloud to deliver secure content management and collaboration built for the new way of working,” said Aaron Levie, co-founder and CEO of Box. “In addition to our solid financial and customer metrics, we made meaningful product announcements in the third quarter, including the rollout of Box Sign globally, new malware deep scan capability in Box Shield to combat ransomware, and deeper integrations with Microsoft Office and Teams, Salesforce, Slack and Zoom. The confluence of remote work, digital transformation and cybersecurity challenges is causing enterprises to rethink how they work with their content. We believe Box’s leadership in the Content Cloud market is driving the acceleration of our growth and the expansion of our customer footprint.”

“We achieved strong third quarter results, marking our third consecutive quarter of accelerating revenue growth,” said Dylan Smith, co-founder and CFO of Box. “Strong Suites momentum is accelerating customer traction and adoption, driving a third quarter Net Retention Rate of 109%, up 600 basis points from 103% in the year ago period and up 300 basis points sequentially. Today we raised our outlook for FY22 revenue, non-GAAP operating margin, and non-GAAP EPS and our ongoing momentum provides us further confidence we will achieve our FY24 financial targets.”

Fiscal Third Quarter Financial Highlights

  • Revenue for the third quarter of fiscal year 2022 was $224.0 million, an increase of 14% from the third quarter of fiscal year 2021. For the third consecutive quarter, revenue growth accelerated on a year over year basis.
  • Remaining performance obligations as of October 31, 2021, were $948.1 million, a 25% increase from the third quarter of fiscal year 2021, and 1100 bps higher than revenue growth for the same period
  • Deferred revenue as of October 31, 2021, was $429.7 million, a 21% increase from the third quarter of fiscal year 2021.
  • Billings for the third quarter of fiscal year 2022 were $231.5 million, a 25% increase from the third quarter of fiscal year 2021.
  • GAAP gross profit for the third quarter of fiscal year 2022 was $161.0 million, or 72% of revenue. This compares to a GAAP gross profit of $139.2 million, or 71% of revenue, in the third quarter of fiscal year 2021.
  • Non-GAAP gross profit for the third quarter of fiscal year 2022 was $167.3 million, or 75% of revenue. This compares to a non-GAAP gross profit of $143.9 million, or 73% of revenue, in the third quarter of fiscal year 2021.
  • GAAP operating loss in the third quarter of fiscal year 2022 was $11.1 million, or 5% of revenue. This compares to a GAAP operating loss of $2.6 million, or 1% of revenue, in the third quarter of fiscal year 2021.
  • Non-GAAP operating income in the third quarter of fiscal year 2022 was $46.4 million, or 21% of revenue. This compares to a non-GAAP operating income of $35.2 million, or 18% of revenue, in the third quarter of fiscal year 2021.
  • GAAP net loss per share attributable to common stockholders, basic and diluted, in the third quarter of fiscal year 2022 was $0.12 on 151.4 million weighted-average shares outstanding. This compares to a GAAP net loss per share attributable to common stockholders of $0.03 in the third quarter of fiscal year 2021 on 157.5 million weighted-average shares outstanding.
  • Non-GAAP net income per share attributable to common stockholders, diluted, in the third quarter of fiscal year 2022 was $0.22. This compares to a non-GAAP net income per share attributable to common stockholders, diluted, of $0.20 in the third quarter of fiscal year 2021.
  • Net cash provided by operating activities in the third quarter of fiscal year 2022 was $46.1 million, an increase of 2% from net cash provided by operating activities of $45.1 million in the third quarter of fiscal year 2021.
  • Free cash flow in the third quarter of fiscal year 2022 was positive $31.2 million. This compares to free cash flow of positive $26.2 million in the third quarter of fiscal year 2021.

For more information on the non-GAAP financial measures and key metrics discussed in this press release, please see the section titled, “About Non-GAAP Financial Measures and Other Key Metrics,” and the reconciliations of non-GAAP financial measures and certain key metrics to their nearest comparable GAAP financial measures at the end of this press release.

Share Repurchase Program
On November 27, 2021, the Board of Directors authorized an expansion of its stock repurchase program by $200 million of Box’s Class A common stock, increasing the aggregate amount of its approved share buyback programs to $700 million, including the Dutch Tender Offer from earlier this year. With this expanded authorization, and excluding funds previously used to repurchase shares to date, as of November 29, 2021, the Company had approximately $260 million of remaining buyback capacity.

Business Highlights Since Last Earnings Release

  • Delivered wins and expansions with leading organizations such as Canon, Epic Games, General Services Administration, NASA, Johnson Space Center, Lionsgate, Robinhood Markets, U.S. Air Force Reserve Command, and Zoom Video Communications.
  • Named a Leader in the Gartner® Magic Quadrant™ for Content Services Platforms and a Major Player in “IDC MarketScape Worldwide eSignature Software 2021 Vendor Assessment.”
  • Expanded availability of Box Sign to customers around the world, delivering unlimited signatures using the Box Web App and a robust set of APIs to streamline and modernize the way agreements are managed and governed in the cloud.
  • Announced malware deep scan for Box Shield to help customers reduce the risk of ransomware by scanning files as they are uploaded to Box. The company also enhanced native security controls for Box Shield to help organizations manage access to their content with more granular authentication capabilities.
  • Released an all-new Box Notes and an updated Box Mobile app to help users easily collaborate from anywhere and on any device.
  • Announced several partner updates, including enhancements to the Box for Microsoft Office integration, a deepened integration with Slack, improvements to our Box for Salesforce integration, and a Box app for Zoom to make it even easier for joint users to work together securely across distributed teams.
  • Hosted the company’s 11th annual BoxWorks, attracting thousands of attendees and featuring speakers from organizations such as Lionsgate, USAA, Vice Media, and World Fuel Services, as well as the CEOs from Okta, Slack, Uber, WarnerMedia, and Zoom.
  • Recognized as one of America’s Most Loved Workplaces 2021 by Newsweek and one of PEOPLE’s 100 Companies That Care 2021.

Outlook

  • Q4 FY22 Guidance: Revenue is expected to be in the range of $227 million to $229 million, up 15% year-over-year at the high-end of the range. GAAP operating margin is expected to be approximately 1%, and non-GAAP operating margin is expected to be approximately 21%. GAAP basic and diluted net loss per share attributable to common stockholders are expected to be in the range of $0.06 to $0.05. Non-GAAP diluted net income per share attributable to common stockholders is expected to be in the range of $0.22 to $0.23. Weighted-average basic and diluted shares outstanding are expected to be approximately 150 million and 158 million, respectively.
  • Full Year FY22 Guidance: Revenue is expected to be in the range of $868 million to $870 million, up 13% year-over-year at the high-end of the range and represents an acceleration from last year’s growth rate of 11%. GAAP operating margin is expected to be approximately negative 3%, and non-GAAP operating margin is expected to be approximately 20%. GAAP basic and diluted net loss per share attributable to common stockholders are expected to be in the range of $0.35 to $0.34. Non-GAAP diluted net income per share attributable to common stockholders is expected to be in the range of $0.83 to $0.84. Weighted-average basic and diluted shares outstanding are expected to be approximately 156 million and 164 million, respectively.

All forward-looking non-GAAP financial measures contained in this section titled “Outlook” exclude estimates for stock-based compensation expense, intangible assets amortization, and as applicable, other special items. Box has provided a reconciliation of GAAP to non-GAAP net income (loss) per share guidance at the end of this press release.

Webcast and Conference Call Information
Box’s management team will host a conference call today beginning at 2:00 PM (PT) / 5:00 PM (ET) to discuss Box’s financial results, business highlights and future outlook. A live audio webcast of this call will be available through Box’s Investor Relations website at www.box.com/investors for a period of 90 days after the date of the call. Prepared remarks will be available on the Box Investor Relations website after the call ends.

The conference call can be accessed by registering online at http://www.directeventreg.com/registration/event/1147136 at which time registrants will receive dial-in information as well as a passcode and registrant ID. A telephonic replay of the call will be available approximately two hours after the call and will run for one week. The replay can be accessed by dialing:

+ 1-800-585-8367 (U.S. and Canada), conference ID: 1147136
+ 1-416-621-4642 (international), conference ID: 1147136

Box has used, and intends to continue to use, its Investor Relations website (www.box.com/investors), as well as certain Twitter accounts (@box, @levie and @boxincir), as a means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD. Information on or that can be accessed through Box’s Investor Relations website, these Twitter accounts, or that is contained in any website to which a hyperlink is provided herein is not part of this press release, and the inclusion of Box’s Investor Relations website address, these Twitter accounts, and any hyperlinks are only inactive textual references.

This press release, the financial tables, as well as other supplemental information including the reconciliations of non-GAAP financial measures and certain key metrics to their nearest comparable GAAP financial measures, are also available on Box’s Investor Relations website. Box also provides investor information, including news and commentary about Box’s business and financial performance, Box’s filings with the Securities and Exchange Commission, notices of investor events and Box’s press and earnings releases, on Box’s Investor Relations website.

Forward-Looking Statements
This press release contains forward-looking statements that involve risks, uncertainties, and assumptions, including statements regarding Box’s expectations regarding the size of its market opportunity, sales productivity, its leadership position in the cloud content management market, the demand for its products, the timing of recent and planned product introductions, enhancements and integrations, the short- and long-term success, market adoption and retention, capabilities, and benefits of such product introductions and enhancements, the success of strategic partnerships, the impact of its acquisitions on future Box product offerings, the benefits to its customers from completing acquisitions, the time needed to integrate acquired businesses into Box, the impact of the COVID-19 pandemic on its business, its ability to grow and scale its business and drive operating efficiencies, its net retention rate, its ability to achieve revenue targets and billings expectations, its revenue growth rate plus free cash flow margin in fiscal year 2022 and beyond, its long-term financial targets for fiscal year 2024 and beyond, its ability to achieve profitability on a quarterly or ongoing basis, its free cash flow, its ability to continue to grow unrecognized revenue and remaining performance obligations, its revenue, billings, GAAP and non-GAAP gross margin, GAAP and non-GAAP net income (loss) per share, GAAP and non-GAAP operating margins, the related components of GAAP and non-GAAP net income (loss) per share, weighted-average outstanding share count expectations for Box’s fiscal fourth quarter and full fiscal year 2022 in the section titled “Outlook” above, equity burn rate, any potential repurchase of its common stock, whether, when, in what amount and by what method any such repurchase would be consummated, and the share price of any such repurchase. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including: (1) adverse changes in general economic or market conditions, including those caused by the COVID-19 pandemic; (2) delays or reductions in information technology spending; (3) factors related to Box’s highly competitive market, including but not limited to pricing pressures, industry consolidation, entry of new competitors and new applications and marketing initiatives by Box’s current or future competitors; (4) the development of the cloud content management market; (5) the risk that Box’s customers do not renew their subscriptions, expand their use of Box’s services, or adopt new products offered by Box on a timely basis, or at all; (6) Box’s ability to provide timely and successful enhancements, integrations, new features and modifications to its platform and services; (7) actual or perceived security vulnerabilities in Box’s services or any breaches of Box’s security controls; (8) Box’s ability to realize the expected benefits of its third-party partnerships; and (9) Box’s ability to successfully integrate acquired businesses and achieve the expected benefits from those acquisitions. In addition, the preliminary financial results set forth in this release are estimates based on information currently available to Box. While Box believes these estimates are meaningful, they could differ from the actual amounts that Box ultimately reports in its Quarterly Report on Form 10-Q for the fiscal quarter ended October 31, 2021. Box assumes no obligations and does not intend to update these estimates prior to filing its Form 10-Q for the fiscal quarter ended October 31, 2021.

Additional information on potential factors that could affect Box’s financial results is included in the reports on Forms 10-K, 10-Q and 8-K and in other filings Box makes with the Securities and Exchange Commission from time to time, including the Annual Report on Form 10-K filed for the fiscal year ended January 31, 2021. These documents are available on the SEC Filings section of Box’s Investor Relations website located at www.box.com/investors. Box does not assume any obligation to update the forward-looking statements contained in this press release to reflect events that occur or circumstances that exist after the date on which they were made.

About Non-GAAP Financial Measures and Other Key Metrics
To supplement Box’s consolidated financial statements, which are prepared and presented in accordance with GAAP, Box provides investors with certain non-GAAP financial measures and other key metrics, including non-GAAP operating income (loss), non-GAAP operating margin, non-GAAP net income (loss), non-GAAP net income (loss) per share, billings, remaining performance obligations, and free cash flow. The presentation of these non-GAAP financial measures and key metrics is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. For more information on these non-GAAP financial measures and key metrics, please see the reconciliation of these non-GAAP financial measures and certain key metrics to their nearest comparable GAAP financial measures at the end of this press release.

Box uses these non-GAAP financial measures and key metrics for financial and operational decision-making and as a means to evaluate period-to-period comparisons. Box’s management believes that these non-GAAP financial measures and key metrics provide meaningful supplemental information regarding Box’s performance by excluding certain expenses that may not be indicative of Box’s recurring core business operating results. Box believes that both management and investors benefit from referring to these non-GAAP financial measures and key metrics in assessing Box’s performance and when planning, forecasting, and analyzing future periods. These non-GAAP financial measures and key metrics also facilitate management’s internal comparisons to Box’s historical performance as well as comparisons to Box’s competitors’ operating results. Box believes these non-GAAP financial measures and key metrics are useful to investors both because they (1) allow for greater transparency with respect to key metrics used by management in its financial and operational decision-making and (2) are used by Box’s institutional investors and the analyst community to help them analyze the health of Box’s business.

A limitation of non-GAAP financial measures and key metrics is that they do not have uniform definitions. Further, Box’s definitions will likely differ from the definitions used by other companies, including peer companies, and therefore comparability may be limited. Thus, Box’s non-GAAP financial measures and key metrics should be considered in addition to, and not as a substitute for, or in isolation from, measures prepared in accordance with GAAP. Additionally, in the case of stock-based compensation expense, if Box did not pay a portion of compensation in the form of stock-based compensation expense, the cash salary expense included in cost of revenue and operating expenses would be higher, which would affect Box’s cash position. The accompanying tables have more details on the reconciliations of non-GAAP financial measures and certain key metrics to their nearest comparable GAAP financial measures.

Non-GAAP operating income (loss) and non-GAAP operating margin. Box defines non-GAAP operating income (loss) as operating income (loss) excluding expenses related to stock-based compensation (“SBC”), intangible assets amortization, and as applicable, other special items. Non-GAAP operating margin is defined as non-GAAP operating income (loss) divided by revenue. Although SBC is an important aspect of the compensation of Box’s employees and executives, determining the fair value of certain of the stock-based instruments Box utilizes involves a high degree of judgment and estimation and the expense recorded may bear little resemblance to the actual value realized upon the vesting or future exercise of the related stock-based awards. Furthermore, unlike cash compensation, the value of stock options, which is an element of Box’s ongoing stock-based compensation expense, is determined using a complex formula that incorporates factors, such as market volatility, that are beyond Box’s control. For restricted stock unit awards, the amount of stock-based compensation expenses is not reflective of the value ultimately received by the grant recipients. Management believes it is useful to exclude SBC in order to better understand the long-term performance of Box’s core business and to facilitate comparison of Box’s results to those of peer companies. Management also views amortization of acquired intangible assets, such as the amortization of the cost associated with an acquired company’s developed technology and trade names, as items arising from pre-acquisition activities determined at the time of an acquisition. While these intangible assets are continually evaluated for impairment, amortization of the cost of purchased intangibles is a static expense that is not typically affected by operations during any particular period. Furthermore, Box excludes the following expenses as they are considered by management to be special items outside of Box’s core operating results: (1) fees related to shareholder activism, which include directly applicable third-party advisory and professional service fees, (2) expenses related to certain litigation, (3) expenses associated with restructuring activities, consisting primarily of severance and other personnel-related costs, and (4) expenses related to acquisitions, including transaction and discrete tax costs. There are no expenses related to litigation excluded from non-GAAP operating income (loss) in any of the periods presented.

Non-GAAP net income (loss) and non-GAAP net income (loss) per share. Box defines non-GAAP net income (loss) as GAAP net income (loss) excluding expenses related to SBC, intangible assets amortization, and as applicable, other special items as described in the preceding paragraph. In January 2021, Box issued $345 million aggregate principal amount of 0.00% convertible senior notes due in 2026 (the “Notes”). Upon issuance, Box recorded a debt discount for the conversion feature of the Notes, separately accounted for as equity, which was amortized as interest expense together with the issuance costs of the Notes. Box excluded the amortization of the debt discount and issuance costs associated with the Notes, in addition to the expenses described above, as they are considered by management to be special items outside of Box’s core operating results. Box adopted Accounting Standards Update (“ASU”) 2020-06, Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivative and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40), effective February 1, 2021, and upon adoption, eliminated the debt discount for the conversion feature of the Notes. Box defines non-GAAP net income (loss) per share as non-GAAP net income (loss) divided by the weighted-average outstanding shares.

Billings. Billings reflect, in any particular period, (1) sales to new customers, plus (2) subscription renewals and (3) expansion within existing customers, and represent amounts invoiced for all products and professional services. Box calculates billings for a period by adding changes in deferred revenue and contract assets in that period to revenue. Box believes that billings help investors better understand sales activity for a particular period, which is not necessarily reflected in revenue as a result of the fact that Box recognizes subscription revenue ratably over the subscription term. Box considers billings a significant performance measure. Box monitors billings to manage the business, make planning decisions, evaluate performance and allocate resources. Box believes that billings offers valuable supplemental information regarding the performance of the business and helps investors better understand the sales volumes and performance of the business. Although Box considers billings to be a significant performance measure, Box does not consider it to be a non-GAAP financial measure because it is calculated using exclusively revenue, deferred revenue, and contract assets, all of which are financial measures calculated in accordance with GAAP.

Remaining performance obligations. Remaining performance obligations (“RPO”) represent, at a point in time, contracted revenue that has not yet been recognized. RPO consists of deferred revenue and backlog, offset by contract assets. Backlog is defined as non-cancellable contracts deemed certain to be invoiced and recognized as revenue in future periods. Future invoicing is determined to be certain when we have an executed non-cancellable contract and invoicing is not dependent on a future event such as the delivery of a specific new product or feature, or the achievement of contractual contingencies. While Box believes RPO is a leading indicator of revenue as it represents sales activity not yet recognized in revenue, it is not necessarily indicative of future revenue growth as it is influenced by several factors, including seasonality, contract renewal timing, average contract terms and foreign currency exchange rates. Box monitors RPO to manage the business and evaluate performance. Box considers RPO to be a significant performance measure. Box does not consider RPO to be a non-GAAP financial measure because it is calculated in accordance with GAAP, specifically under ASC Topic 606.

Free cash flow. Box defines free cash flow as cash flows from operating activities less purchases of property and equipment, principal payments of finance lease liabilities, capitalized internal-use software costs, and other items that did not or are not expected to require cash settlement and that management considers to be outside of Box’s core business. Box specifically identifies adjusting items in the reconciliation of GAAP to non-GAAP financial measures. Box considers free cash flow to be a profitability and liquidity measure that provides useful information to management and investors about the amount of cash generated by the business that can possibly be used for investing in Box’s business and strengthening its balance sheet, but it is not intended to represent the residual cash flow available for discretionary expenditures. The presentation of non-GAAP free cash flow is also not meant to be considered in isolation or as an alternative to cash flows from operating activities as a measure of liquidity.

About Box
Box (NYSE:BOX) is the leading Content Cloud that enables organizations to accelerate business processes, power workplace collaboration, and protect their most valuable information, all while working with a best-of-breed enterprise IT stack. Founded in 2005, Box simplifies work for leading organizations globally, including AstraZeneca, JLL, and Morgan Stanley. Box is headquartered in Redwood City, CA, with offices in the United States, Europe, and Asia. To learn more about Box, visit http://www.box.com. To learn more about how Box powers nonprofits to fulfill their missions, visit Box.org.

BOX, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In Thousands)

(Unaudited)

October 31,

January 31,

2021

2021

ASSETS

Current assets:

Cash and cash equivalents

$

568,265

$

595,082

Short-term investments

140,000

Accounts receivable, net

154,624

228,309

Prepaid expenses and other current assets

64,730

55,895

Total current assets

927,619

879,286

Property and equipment, net

117,397

160,148

Operating lease right-of-use assets, net

168,840

194,253

Goodwill

75,860

18,740

Other long-term assets

115,361

99,255

Total assets

$

1,405,077

$

1,351,682

LIABILITIES, CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS’ (DEFICIT) EQUITY

Current liabilities:

Accounts payable, accrued expenses and other current liabilities

$

54,608

$

32,128

Accrued compensation and benefits

33,606

39,123

Finance lease liabilities

43,794

49,888

Operating lease liabilities

42,269

47,771

Deferred revenue

413,511

443,929

Total current liabilities

587,788

612,839

Debt, net, non-current

366,993

297,614

Finance lease liabilities, non-current

29,420

60,351

Operating lease liabilities, non-current

168,242

192,531

Deferred revenue, non-current

16,153

21,684

Other long-term liabilities

16,465

15,598

Total liabilities

1,185,061

1,200,617

Series A convertible preferred stock

493,166

Stockholders’ (deficit) equity:

Common stock (1)

15

16

Additional paid-in capital

1,089,180

1,474,843

Treasury stock

(1,177

)

(1,177

)

Accumulated other comprehensive loss

(2,914

)

(938

)

Accumulated deficit

(1,358,254

)

(1,321,679

)

Total stockholders’ (deficit) equity

(273,150

)

151,065

Total liabilities, convertible preferred stock and stockholders’ (deficit) equity

$

1,405,077

$

1,351,682

(1) As of October 31, 2021, there were 149,010 shares of Box’s Class A common stock outstanding.

BOX, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In Thousands, Except Per Share Data)

(Unaudited)

Three Months Ended

Nine Months Ended

October 31,

October 31,

2021

2020

2021

2020

Revenue

$

224,044

$

196,003

$

640,971

$

571,857

Cost of revenue (1)

63,069

56,812

184,804

166,141

Gross profit

160,975

139,191

456,167

405,716

Operating expenses:

Research and development (1)

55,837

49,454

159,418

152,683

Sales and marketing (1)

76,368

67,112

218,967

207,619

General and administrative (1)

39,857

25,239

105,242

79,778

Total operating expenses

172,062

141,805

483,627

440,080

Loss from operations

(11,087

)

(2,614

)

(27,460

)

(34,364

)

Interest and other expense, net

(2,336

)

(2,319

)

(8,275

)

(3,235

)

Loss before provision for income taxes

(13,423

)

(4,933

)

(35,735

)

(37,599

)

Provision for income taxes

438

351

1,399

891

Net loss

$

(13,861

)

$

(5,284

)

$

(37,134

)

$

(38,490

)

Dividend on series A convertible preferred stock

(3,775

)

(7,104

)

Accretion of series A convertible preferred stock

(526

)

(982

)

Net loss attributable to common stockholders

$

(18,162

)

$

(5,284

)

$

(45,220

)

$

(38,490

)

Net loss per share attributable to common stockholders, basic and diluted

$

(0.12

)

$

(0.03

)

$

(0.29

)

$

(0.25

)

Weighted-average shares used to compute net loss per share attributable to common stockholders, basic and diluted

151,426

157,465

158,068

154,734

(1) Includes stock-based compensation expense as follows:

Three Months Ended

Nine Months Ended

October 31,

October 31,

2021

2020

2021

2020

Cost of revenue

$

4,786

$

4,731

$

15,009

$

13,673

Research and development

17,712

14,581

49,791

46,139

Sales and marketing

13,872

10,619

38,342

31,364

General and administrative

9,219

7,903

28,365

24,262

Total stock-based compensation

$

45,589

$

37,834

$

131,507

$

115,438

BOX, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In Thousands)

(Unaudited)

Three Months Ended

Nine Months Ended

October 31,

October 31,

2021

2020

2021

2020

CASH FLOWS FROM OPERATING ACTIVITIES:

Net loss

$

(13,861

)

$

(5,284

)

$

(37,134

)

$

(38,490

)

Adjustments to reconcile net loss to net cash provided by operating activities:

Depreciation and amortization

20,023

19,594

59,110

56,382

Stock-based compensation expense

45,589

37,834

131,507

115,438

Amortization of deferred commissions

11,705

9,286

33,287

26,065

Other

1,614

50

2,572

53

Changes in operating assets and liabilities:

Accounts receivable, net

(20,239

)

7,377

74,464

93,770

Prepaid expenses and other assets

(13,523

)

(8,934

)

(41,716

)

(28,656

)

Operating lease right-of-use assets, net

10,441

10,296

32,110

30,096

Accounts payable, accrued expenses and other liabilities

8,446

(2,719

)

9,118

(12,458

)

Operating lease liabilities

(11,737

)

(11,940

)

(36,190

)

(33,420

)

Deferred revenue

7,625

(10,508

)

(41,481

)

(69,486

)

Net cash provided by operating activities

46,083

45,052

185,647

139,294

CASH FLOWS FROM INVESTING ACTIVITIES:

Purchases of short-term investments

(90,000

)

(140,000

)

Purchases of property and equipment, net of proceeds from sales

(1,242

)

(3,337

)

(3,477

)

(7,415

)

Capitalized internal-use software costs

(1,116

)

(964

)

(3,501

)

(6,357

)

Acquisitions, net of cash acquired

(2,753

)

(59,395

)

Other

(350

)

327

107

Net cash used in investing activities

(95,461

)

(4,301

)

(206,046

)

(13,665

)

CASH FLOWS FROM FINANCING ACTIVITIES:

Series A convertible preferred stock, net of issuance costs

(1,695

)

485,103

Repurchases of common stock

(144,172

)

(428,253

)

Proceeds from borrowings

30,000

Principal payments on borrowings

(20,000

)

(20,000

)

Proceeds from issuances of common stock under employee equity plans

9,438

8,052

23,740

28,469

Employee payroll taxes paid related to net share settlement of restricted stock units

(12,586

)

(10,776

)

(43,677

)

(38,220

)

Principal payments of finance lease liabilities

(12,297

)

(14,584

)

(38,182

)

(46,159

)

Other

(293

)

(4,194

)

Net cash used in financing activities

(161,605

)

(37,308

)

(5,463

)

(45,910

)

Effect of exchange rate changes on cash, cash equivalents, and restricted cash

(369

)

(49

)

(789

)

488

Net (decrease) increase in cash, cash equivalents, and restricted cash

(211,352

)

3,394

(26,651

)

80,207

Cash, cash equivalents, and restricted cash, beginning of period

780,212

272,399

595,511

195,586

Cash, cash equivalents, and restricted cash, end of period

$

568,860

$

275,793

$

568,860

$

275,793

BOX, INC.

RECONCILIATION OF GAAP TO NON-GAAP DATA

(In Thousands, Except Per Share Data and Percentages)

(Unaudited)

Three Months Ended

Nine Months Ended

October 31,

October 31,

2021

2020

2021

2020

GAAP gross profit

$

160,975

$

139,191

$

456,167

$

405,716

Stock-based compensation

4,786

4,731

15,009

13,673

Acquired intangible assets amortization

1,541

3,697

Non-GAAP gross profit

$

167,302

$

143,922

$

474,873

$

419,389

GAAP gross margin

72

%

71

%

71

%

71

%

Stock-based compensation

2

2

2

2

Acquired intangible assets amortization

1

1

Non-GAAP gross margin

75

%

73

%

74

%

73

%

GAAP operating loss

$

(11,087

)

$

(2,614

)

$

(27,460

)

$

(34,364

)

Stock-based compensation

45,589

37,834

131,507

115,438

Acquired intangible assets amortization

1,541

3,697

Acquisition-related expenses

180

1,215

Fees related to shareholder activism

10,146

15,978

1,402

Non-GAAP operating income

$

46,369

$

35,220

$

124,937

$

82,476

GAAP operating margin

(5

)

%

(1

)

%

(4

)

%

(6

)

%

Stock-based compensation

20

19

20

20

Acquired intangible assets amortization

1

1

Acquisition-related expenses

Fees related to shareholder activism

5

2

Non-GAAP operating margin

21

%

18

%

19

%

14

%

GAAP net loss attributable to common stockholders

$

(18,162

)

$

(5,284

)

$

(45,220

)

$

(38,490

)

Stock-based compensation

45,589

37,834

131,507

115,438

Acquired intangible assets amortization

1,541

3,697

Acquisition-related expenses

180

1,215

Fees related to shareholder activism

10,146

15,978

1,402

Amortization of debt issuance costs

471

1,408

Undistributed earnings attributable to preferred stockholders

(4,374

)

(7,555

)

Non-GAAP net income attributable to common stockholders

$

35,391

$

32,550

$

101,030

$

78,350

GAAP net loss per share attributable to common stockholders, basic and diluted

$

(0.12

)

$

(0.03

)

$

(0.29

)

$

(0.25

)

Stock-based compensation

0.30

0.24

0.83

0.75

Acquired intangible assets amortization

0.01

0.03

Acquisition-related expenses

0.01

Fees related to shareholder activism

0.07

0.10

0.01

Amortization of debt issuance costs

0.01

Undistributed earnings attributable to preferred stockholders

(0.03

)

(0.05

)

Non-GAAP net income per share attributable to common stockholders, basic

$

0.23

$

0.21

$

0.64

$

0.51

Non-GAAP net income per share attributable to common stockholders, diluted

$

0.22

$

0.20

$

0.61

$

0.48

Weighted-average shares used to compute GAAP net loss per share, basic and diluted

151,426

157,465

158,068

154,734

Weighted-average shares used to compute non-GAAP net income per share

Basic

151,426

157,465

158,068

154,734

Diluted

159,249

163,455

165,816

161,622

GAAP net cash provided by operating activities

$

46,083

$

45,052

$

185,647

$

139,294

Purchases of property and equipment, net of proceeds from sales

(1,242

)

(3,337

)

(3,477

)

(7,415

)

Principal payments of finance lease liabilities

(12,297

)

(14,584

)

(38,182

)

(46,159

)

Capitalized internal-use software costs

(1,296

)

(964

)

(7,046

)

(6,357

)

Non-GAAP free cash flow

$

31,248

$

26,167

$

136,942

$

79,363

GAAP net cash used in investing activities

$

(95,461

)

$

(4,301

)

$

(206,046

)

$

(13,665

)

GAAP net cash used in financing activities

$

(161,605

)

$

(37,308

)

$

(5,463

)

$

(45,910

)

BOX, INC.

RECONCILIATION OF GAAP REVENUE TO BILLINGS

(In Thousands)

(Unaudited)

Three Months Ended

Nine Months Ended

October 31,

October 31,

2021

2020

2021

2020

GAAP revenue

$

224,044

$

196,003

$

640,971

$

571,857

Deferred revenue, end of period

429,664

354,363

429,664

354,363

Less: deferred revenue, beginning of period

(422,039

)

(364,871

)

(465,613

)

(423,849

)

Contract assets, beginning of period

866

25

Less: contract assets, end of period

(1,073

)

(1,073

)

Billings

$

231,462

$

185,495

$

603,974

$

502,371

BOX, INC.

RECONCILIATION OF GAAP NET LOSS TO NON-GAAP NET INCOME PER SHARE GUIDANCE

(In Thousands, Except Per Share Data)

(Unaudited)

Three Months Ended

Fiscal Year Ended

January 31, 2022

January 31, 2022

GAAP net loss per share attributable to common stockholders range, basic and diluted

$

(0.06

)

$

(0.05

)

$

(0.35

)

$

(0.34

)

Stock-based compensation

0.30

0.30

1.13

1.13

Acquired intangible asset amortization

0.01

0.01

0.03

0.03

Acquisition-related expenses

0.01

0.01

0.02

0.02

Fees related to shareholder activism

0.10

0.10

Amortization of debt issuance costs

0.01

0.01

Undistributed earnings attributable to preferred stockholders

(0.03

)

(0.03

)

(0.07

)

(0.07

)

Non-GAAP net income per share attributable to common stockholders range, basic

$

0.23

$

0.24

$

0.87

$

0.88

Non-GAAP net income per share attributable to common stockholders range, diluted

$

0.22

$

0.23

$

0.83

$

0.84

Weighted-average shares used to compute GAAP net loss per share attributable to common stockholders, basic and diluted

149,860

155,999

Weighted-average shares used to compute Non-GAAP net income per share attributable to common stockholders:

Basic

149,860

155,999

Diluted

158,114

163,873

BOX, INC.

RECONCILIATION OF GAAP TO NON-GAAP OPERATING MARGIN GUIDANCE

(Unaudited)

Three Months Ended

Fiscal Year Ended

January 31, 2022

January 31, 2022

GAAP operating margin

1.0

%

(3.0

)

%

Stock-based compensation

19.5

20.5

Acquired intangible assets amortization

0.5

0.5

Fees related to shareholder activism

2.0

Non-GAAP operating margin

21.0

%

20.0

%

Contacts
Investors:
Cynthia Hiponia and Elaine Gaudioso
+1 650-209-3463
ir@box.com

Media:
Denis Roy and Rachel Levine
+1 650-543-6926
press@box.com

Source: Box

 

 

 

 

Update enables service providers to further extend protection across workloads while optimizing infrastructure management

SCHAFFHAUSEN, Switzerland, November 30, 2021 — /BackupReview.info/ — Acronis, the global leader in cyber protection, today released a set of enhanced capabilities for the company’s flagship, all-in-one cyber protection platform for service providers. These additions enable MSPs to deliver comprehensive protection across a greater set of workloads while streamlining their own management processes, and represent the continued evolution of the platform in response to users’ real needs in a shifting IT landscape.

Acronis Cyber Protect Cloud + Advanced Packs
Combining best-in-breed backup with next-generation cybersecurity and management, Acronis Cyber Protect Cloud delivers optimal protection for sensitive data, applications, and systems. As IT environments become more complex and cybercriminals adopt new tactics, Acronis’ solution continues evolving faster to address growing protection demands.

The November 2021 update includes features to optimize the infrastructure management for service providers, extend protection across more environments, and provide clients with a smoother data recovery experience:

  • Improved usage reports make it easy to match usage metrics to their respective prices in the price list, and to hone in on the most relevant data points
  • Additional backup and recovery options for VMWare Cloud Director backup operators to exercise more granular control over tenants’ data protection and ensure compliance with relevant data control policies
  • Anti-malware and anti-ransomware protection support for Windows 11 and Windows Server 2022 strengthens the resilience of clients’ IT environments
  • A web installer for macOS simplifies provisioning by eliminating the need to download separate installers depending on whether the target system uses an Intel or Apple M1 CPU

Additionally, two of Acronis Cyber Protect Cloud’s optional advanced protection packs have been updated with new functionality:

  • Off-host data processing (Advanced Backup pack) reduces demand on clients’ workloads by offloading backup replication, validation, retention and conversion operations to a virtual machine. By converting backups into Scale Computing HC3 VMs, providers can simply boot from the virtual machine to achieve near-zero RTOs.
  • Logical volume (LVM) support (Advanced Disaster Recovery pack) extends Acronis’ disaster recovery capabilities to users’ physical and virtual Linux workloads

Acronis Cyber Files Cloud
Today’s workforce is more distributed than ever, and remote collaboration support is a necessity. Acronis’ November 2021 cloud update includes usability improvements for Acronis Cyber Files Cloud, the company’s secure file sync-and-share solution designed for service providers. Uploading has been simplified with the introduction of drag-and-drop support directly into the web UI, while changes to how files and folders are displayed adds greater visibility for end users.

Integrations
The November 2021 update also introduces usability improvements related to Acronis’ integrations with popular third-party tools:

  • A new Integrations tab in the Acronis Cyber Protect Cloud console provides one-click access to integration management
  • Support for two-way quota sync between Acronis Cyber Protect Cloud and ConnectWise Manage automates the process of updating services and agreements
  • Support for service name auto-creation within Autotask PSA reduces manual work and automates the process of mapping services

“We are constantly collecting feedback from our partners – through partner advisory councils, peer groups, events and surveys – and prioritize our roadmap based on partner needs,” said Gaidar Magdanurov, Acronis Chief Success Officer. “The new update to our Acronis Cyber Protect Cloud addresses the need of our partners to protect more workloads and provide better reporting and user experience to their customers.”

To learn more about Acronis’ unique approach to cyber protection and how it enables its service provider partners, you can also visit acronis.com and register to attend the Acronis #CyberFit Summit World Tour 2021, stopping next in Dubai from December 8-9, 2021.

About Acronis:
Acronis unifies data protection and cybersecurity to deliver integrated, automated cyber protection that solves the safety, accessibility, privacy, authenticity, and security (SAPAS) challenges of the modern digital world. With flexible deployment models that fit the demands of service providers and IT professionals, Acronis provides superior cyber protection for data, applications, and systems with innovative next-generation antivirus, backup, disaster recovery, and endpoint protection management solutions powered by AI. With advanced anti-malware powered by cutting-edge machine intelligence and blockchain based data authentication technologies, Acronis protects any environment – from cloud to hybrid to on premises – at a low and predictable cost.

Founded in Singapore in 2003 and incorporated in Switzerland in 2008, Acronis now has more than 1,700 employees in 34 locations in 19 countries. Its solutions are trusted by more than 5.5 million home users and 500,000 companies, and top-tier professional sports teams. Acronis products are available through over 50,000 partners and service providers in over 150 countries and 25 languages.

Press Contact:
Kayla Fedorowicz
Acronis International GmbH
+1781782-9086; (019060)
Kayla.Fedorowicz@acronis.com

Source: Acronis

 

 

 

Net revenues for the second quarter grew 11% year-over-year to $1.57 billion;
Expanded cloud partnerships and delivered substantial innovation across entire portfolio

  • NetApp Public Cloud annualized revenue run rate (ARR)1 increased 80% year-over-year to $388 million
  • All-flash array annualized net revenue run rateincreased 22% year-over-year to $3.1 billion
  • Product revenue grew 9% year-over-year to $814 million
  • Billings3 increased 7% year-over-year to $1.55 billion
  • $298 million in cash provided by operations; $252 million in free cash flow3

SAN JOSE, Calif. – November 30, 2021 — /BackupReview.info/ — NetApp (NASDAQ: NTAP) today reported financial results for the second quarter of fiscal year 2022, which ended on October 29, 2021.

“We delivered another strong quarter, with results all at the high end or above our guidance. Our performance reflects a strong demand environment, a clear vision, and exceptional execution by the NetApp team and gives the confidence to raise our full year guidance for revenue, EPS and Public Cloud ARR,” said George Kurian, chief executive officer. “We are gaining share in the key markets of all-flash and object storage, while rapidly scaling our public cloud business. Our industry-leading innovation and unique and deep cloud partnerships position us well to capitalize on significant opportunity ahead.”

Second quarter of fiscal year 2022 financial results

  • Net revenues: $1.57 billion, compared to $1.42 billion in the second quarter of fiscal year 2021
    • Hybrid Cloud segment revenue: $1.48 billion, compared to $1.37 billion in the second quarter of fiscal year 2021
    • Public Cloud segment revenue: $87 million, compared to $47 million in the second quarter of fiscal year 2021
  • Net income: GAAP net income of $224 million, compared to $137 million in the second quarter of fiscal year 2021; non-GAAP net income4 of $292 million, compared to $236 million in the second quarter of fiscal year 2021
  • Earnings per share: GAAP net income per share5 of $0.98, compared to $0.61 in the second quarter of fiscal year 2021; non-GAAP net income per share of $1.28, compared to $1.05 in the second quarter of fiscal year 2021
  • Cash, cash equivalents and investments: $4.55 billion at the end of the second quarter of fiscal year 2022
  • Cash provided by operations: $298 million, compared to $161 million in the second quarter of fiscal year 2021
  • Share repurchase and dividends: Returned $237 million to shareholders through share repurchases and cash dividends

Third quarter of fiscal year 2022 financial outlook

The Company provided the following financial guidance for the third quarter of fiscal year 2022:

Net revenues are expected to be in the range of:

$1.525 billion to $1.675 billion

GAAP

Non-GAAP

Earnings per share is expected to be in the range of:

$0.93 – $1.03

$1.21 – $1.31

Full fiscal year 2022 financial outlook

The Company provided an update to their financial guidance for the full fiscal year 2022:

Net revenues are expected to grow in the range of:

9% to 10%

Public Cloud ARR is expected to exit the fiscal year in the range of:

$510 million to $540 million

GAAP

Non-GAAP

Consolidated gross margins are expected to be:

~67%

~68%

Operating margins are expected to be:

18% – 19%

23% – 24%

Effective tax rate is expected to be:

~21%

~19%

Earnings per share is expected to be in the range of:

$3.80 – $4.00

$4.90 – $5.10

Dividend

The next cash dividend of $0.50 per share is to be paid on January 26, 2022, to shareholders of record as of the close of business on January 7, 2022.

Second quarter of fiscal year 2022 business highlights

Expanding cloud partnerships

  • AWS and NetApp announced the general availability of Amazon FSx for NetApp ONTAP, a native AWS managed service that’s powered by NetApp ONTAP software and is available around the world.
  • Google Cloud announced that NetApp will serve as the primary data and storage vendor for its new Google Distributed Cloud Hosted offering and introduced the integration of Google Cloud VMware Engine with NetApp Cloud Volumes Service support for VM datastores, a fully managed service that helps organizations meet their need for virtual workload storage and disaster recovery.
  • NetApp and Google Cloud launched NetApp Cloud Volumes Service for Google Cloud in Salt Lake City and Tokyo, with available Cloud Volumes Service regions now totaling 19 as demand continues to increase.
  • NetApp announced expanded backup/restore and cross-region replication capabilities in Azure NetApp Files.
  • NetApp announced that whitelisting has been removed from Azure NetApp Files, enabling customers to directly consume Azure NetApp Files from the Azure portal, CLI, API, or with the software development kit (SDK).

Leading innovation

  • NetApp announced an agreement to acquire CloudCheckr to expand the Spot by NetApp cloud operations (CloudOps) portfolio, enabling organizations to better optimize and secure multi-cloud infrastructures. The CloudCheckr acquisition closed on November 5, 2021.
  • NetApp announced the latest release of NetApp ONTAP data management software, which offers autonomous ransomware protection against cyberattacks, increased performance for SAN and modern workloads with NVMe over TCP (NVMe/TCP) support, expanded object storage capabilities with NetApp SnapMirror, and simplified storage management.
  • NetApp introduced new digital wallet capabilities available in NetApp Cloud Manager for greater mobility and more visibility into usage of data service licenses across a hybrid cloud, with prepayment of credits enabling streamlined deployment.
  • NetApp introduced enhancements to NetApp Cloud Backup and Cloud Data Sense services. Enhancements include greater data protection and governance for ONTAP environments, simplified deployment of NetApp Cloud Volumes ONTAP with new customer-ready templates, and fully embedded NetApp Active IQ in Cloud Manager.
  • NetApp announced Kubernetes enhancements and deeper ONTAP integrations with NetApp Cloud Insights to support and manage Kubernetes workloads.
  • NetApp announced a new freemium service tier for Cloud Volumes ONTAP. This service tier gives customers access to a full-featured, perpetual license to use ONTAP in the cloud for workloads that need less than 500GB of storage.
  • NetApp previewed NetApp Astra Data Store, a Kubernetes-native shared file service for unified management of container-based storage and virtual machines (VMs) across a hybrid cloud.
  • Spot by NetApp launched Spot Elastigroup by NetApp for Azure Stateful Groups, allowing companies to use Azure’s Spot VM technology to save up to 90% of infrastructure costs while running stateful applications.
  • Spot by NetApp announced Spot Security, a new product to help safeguard cloud infrastructure with automated security monitoring, analysis, and remediation capabilities.
  • NetApp introduced new Support and Professional Services offerings, including the extension of NetApp SupportEdge Advisor and SupportEdge Protect for cloud services, as well as NetApp Flex Professional Services (FlexPS), which offers on-demand support for customers transitioning to hybrid cloud.

NetApp recognition and awards

  • NetApp was named a leader in the 2021 Gartner Magic Quadrant for Primary Storage.6 NetApp was also among this year’s top vendor solutions evaluated in the 2021 Gartner Critical Capabilities for Primary Storage7 across all use cases. In the Cloud IT Operations use case, the NetApp AFF A-Series family received the highest scores.
  • NetApp AI won a 2021 Stratus Award for artificial intelligence from the Business Intelligence Group.

Webcast and conference call information

NetApp will host a conference call to discuss these results today at 2:30 p.m. Pacific Time. To access the live webcast of this event, go to the NetApp Investor Relations website at investors.netapp.com. In addition, this press release, historical supplemental data tables, and other information related to the call will be posted on the Investor Relations website. An audio replay will be available on the website after 4:30 p.m. Pacific Time today.

“Safe Harbor” statement under U.S. Private Securities Litigation Reform Act of 1995

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, all of the statements made in the Third Quarter of Fiscal Year 2022 Financial Outlook section and Full Fiscal Year 2022 Financial Outlook section and statements about our ability to gain share in key markets while scaling our public cloud business, and our ability to capitalize on significant opportunity ahead. Actual results may differ materially from these statements for a variety of reasons, including, without limitation, customer demand for and acceptance of our products and services, our ability to successfully execute on our data fabric strategy to generate profitable growth and stockholder return, our ability to successfully execute new business models, general global political, macroeconomic and market conditions, changes in U.S. government spending, revenue seasonality, our ability to manage our gross profit margins, the impact of the COVID-19 pandemic on our business operations, including supply chain disruptions, our financial performance and results of operations, and our ability to expand our total available market and grow our portfolio of products. These and other equally important factors are described in reports and documents we file from time to time with the Securities and Exchange Commission, including the factors described under the section titled “Risk Factors” in our most recently submitted annual report on Form 10-K. We disclaim any obligation to update information contained in this press release whether as a result of new information, future events, or otherwise.

NetApp, the NetApp logo, and the marks listed at http://www.netapp.com/TM are trademarks of NetApp, Inc. All other marks are the property of their respective owners.

Footnotes

1Public Cloud annualized revenue run rate (ARR) is calculated as the annualized value of all Public Cloud customer commitments with the assumption that any commitment expiring during the next 12 months will be renewed with its existing terms.

2All-flash array annualized net revenue run rate is determined by products and services revenue for the current quarter, multiplied by 4.

3Refer to the NetApp Usage of Non-GAAP Financial Information section below for an explanation of billings and free cash flow.

4Non-GAAP net income excludes, when applicable, (a) amortization of intangible assets, (b) stock-based compensation expenses, (c) litigation settlements, (d) acquisition-related expenses, (e) restructuring charges, (f) asset impairments, (g) gains/losses on the sale or derecognition of assets, (h) gains/losses on the sale of investments in equity securities, (i) debt extinguishment costs, (j) COVID-19 charges and (k) our GAAP tax provision, but includes a non-GAAP tax provision based upon our projected annual non-GAAP effective tax rate for the first three quarters of the fiscal year and an actual non-GAAP tax provision for the fourth quarter of the fiscal year. NetApp makes additional adjustments to the non-GAAP tax provision for certain tax matters as described below. A detailed reconciliation of our non-GAAP to GAAP results can be found at http://investors.netapp.com. NetApp’s management uses these non-GAAP measures in making operating decisions because it believes the measurements provide meaningful supplemental information regarding NetApp’s ongoing operational performance.

5GAAP net income per share and non-GAAP net income per share are calculated using the diluted number of shares.

6Gartner, “Magic Quadrant for Primary Storage, 2021,” Jeff Vogel, Roger W. Cox, Joseph Unsworth, Santhosh Rao, October 11, 2021.

7Gartner, “Critical Capabilities for Primary Storage, 2021,” Santhosh Rao, Roger W. Cox, Joseph Unsworth, Jeff Vogel, October 11, 2021.

NetApp usage of non-GAAP financial information

To supplement NetApp’s condensed consolidated financial statement information presented in accordance with generally accepted accounting principles in the United States (GAAP), NetApp provides investors with certain non-GAAP measures, including, but not limited to, historical non-GAAP operating results, non-GAAP net income, non-GAAP effective tax rate, free cash flow, billings, and historical and projected non-GAAP earnings per diluted share. NetApp also presents the hardware and software components of our GAAP product revenues. Because our revenue recognition policy under GAAP defines a configured storage system, inclusive of the operating system software essential to its functionality, as a single performance obligation, hardware and software components of our product revenues are considered non-GAAP measures. The hardware and software components of our product revenues are derived from an estimated fair value allocation of the transaction price of our contracts with customers, down to the level of the product hardware and software components. This allocation is primarily based on the contractual prices at which NetApp has historically billed customers for such respective components.

NetApp believes that the presentation of non-GAAP net income, non-GAAP effective tax rates, and non-GAAP earnings per share data, when shown in conjunction with the corresponding GAAP measures, provides useful information to investors and management regarding financial and business trends relating to its financial condition and results of operations.

NetApp believes that the presentation of free cash flow, which it defines as the net cash provided by operating activities less cash used to acquire property and equipment, to be a liquidity measure that provides useful information to management and investors because it reflects cash that can be used to, among other things, invest in its business, make strategic acquisitions, repurchase common stock, and pay dividends on its common stock. As free cash flow is not a measure of liquidity calculated in accordance with GAAP, free cash flow should be considered in addition to, but not as a substitute for, the analysis provided in the statement of cash flows.

NetApp believes that the presentation of the software and hardware components of our product revenues is meaningful to investors and management as it illustrates the significance of the Company’s software and provides improved visibility into the value created by our software innovation and R&D investment.

NetApp approximates billings by adding net revenues as reported on our Condensed Consolidated Statements of Operations for the period to the change in total deferred revenue and financed unearned services revenue as reported on our Condensed Consolidated Statements of Cash Flows for the same period. Billings is a performance measure that NetApp believes provides useful information to management and investors because it approximates the amounts under purchase orders received by us during a given period that have been billed.

NetApp’s management uses these non-GAAP measures in making operating decisions because it believes the measurements provide meaningful supplemental information regarding NetApp’s ongoing operational performance. These non-GAAP financial measures are used to: (1) measure company performance against historical results, (2) facilitate comparisons to our competitors’ operating results and (3) allow greater transparency with respect to information used by management in financial and operational decision making.

NetApp excludes the following items from its non-GAAP measures when applicable:

A. Amortization of intangible assets. NetApp records amortization of intangible assets that were acquired in connection with its business combinations. The amortization of intangible assets varies depending on the level of acquisition activity. Management finds it useful to exclude these charges to assess the appropriate level of various operating expenses to assist in budgeting, planning and forecasting future periods and in measuring operational performance.

B. Stock-based compensation expenses. NetApp excludes stock-based compensation expenses from its non-GAAP measures primarily because the amount can fluctuate based on variables unrelated to the performance of the underlying business. While management views stock-based compensation as a key element of our employee retention and long-term incentives, we do not view it as an expense to be used in evaluating operational performance in any given period.

C. Litigation settlements. NetApp may periodically incur charges or benefits related to litigation settlements. NetApp excludes these charges and benefits, when significant, because it does not believe they are reflective of ongoing business and operating results.

D. Acquisition-related expenses. NetApp excludes acquisition-related expenses, including (a) due diligence, legal and other one-time integration charges and (b) write down of assets acquired that NetApp does not intend to use in its ongoing business, from its non-GAAP measures, primarily because they are not related to our ongoing business or cost base and, therefore, are less useful for future planning and forecasting.

E. Restructuring charges. These charges consist of restructuring charges that are incurred based on the particular facts and circumstances of restructuring decisions, including employment and contractual settlement terms, and other related charges, and can vary in size and frequency. We therefore exclude them in our assessment of operational performance.

F. Asset impairments. These are non-cash charges to write down assets when there is an indication that the asset has become impaired. Management finds it useful to exclude these non-cash charges due to the unpredictability of these events in its assessment of operational performance.

G. Gains/losses on the sale or derecognition of assets. These are gains/losses from the sale of our properties and other transactions in which we transfer control of assets to a third party. Management believes that these transactions do not reflect the results of our underlying, on-going business and, therefore, are less useful for future planning and forecasting.

H. Gains/losses on the sale of investments in equity securities. These are gains/losses from the sale of our investment in certain equity securities. Typically, such investments are sold as a result of a change in control of the underlying businesses. Management believes that these transactions do not reflect the results of our underlying, on-going business and, therefore, are less useful for future planning and forecasting.

I. Debt extinguishment costs. NetApp excludes certain non-recurring expenses incurred as a result of the early extinguishment of debt. Management believes such nonrecurring costs do not reflect the results of its underlying, on-going business and, therefore, are less useful for future planning and forecasting.

J. COVID-19 charges. NetApp has excluded certain non-recurring expenses incurred as a direct result of the COVID-19 pandemic. Management believes such nonrecurring costs do not reflect the results of its underlying, on-going business and, therefore, are less useful for future planning and forecasting.

K. Income tax adjustments. NetApp’s non-GAAP tax provision is based upon a projected annual non-GAAP effective tax rate for the first three quarters of the fiscal year and an actual non-GAAP tax provision for the fourth quarter of the fiscal year. The non-GAAP tax provision also excludes, when applicable, (a) tax charges or benefits in the current period that relate to one or more prior fiscal periods that are a result of events such as changes in tax legislation, authoritative guidance, income tax audit settlements, statute lapses and/or court decisions, (b) tax charges or benefits that are attributable to unusual or non-recurring book and/or tax accounting method changes, (c) tax charges that are a result of a non-routine foreign cash repatriation, (d) tax charges or benefits that are a result of infrequent restructuring of the Company’s tax structure, (e) tax charges or benefits that are a result of a change in valuation allowance, and (f) tax charges resulting from the integration of intellectual property from acquisitions. Management believes that the use of non-GAAP tax provisions provides a more meaningful measure of the Company’s operational performance.

These non-GAAP measures are not in accordance with, or an alternative for, measures prepared in accordance with GAAP, and may be different from non-GAAP measures used by other companies. In addition, these non-GAAP measures are not based on any comprehensive set of accounting rules or principles. NetApp believes that non-GAAP measures have limitations in that they do not reflect all of the amounts associated with the Company’s results of operations as determined in accordance with GAAP and that these measures should only be used to evaluate the Company’s results of operations in conjunction with the corresponding GAAP measures. NetApp management compensates for these limitations by analyzing current and projected results on a GAAP basis as well as a non-GAAP basis. The presentation of non-GAAP financial information is not meant to be considered in isolation or as a substitute for the directly comparable financial measures prepared in accordance with generally accepted accounting principles in the United States. The non-GAAP financial measures are meant to supplement, and be viewed in conjunction with, GAAP financial measures.

About NetApp

In a world full of generalists, NetApp is a specialist. We’re focused on one thing, helping your business get the most out of your data. NetApp brings the enterprise-grade data services you rely on into the cloud, and the simple flexibility of cloud into the data center. Our industry-leading solutions work across diverse customer environments and the world’s biggest public clouds. As a cloud-led, data-centric software company, only NetApp can help build your unique data fabric, simplify and connect your cloud, and securely deliver the right data, services, and applications to the right people—anytime, anywhere.

NETAPP, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In millions)

(Unaudited)

October 29,
2021

 

April 30,
2021

 

 

 

 

 

 

ASSETS

 

 

 

 

 

 

 

Current assets:

Cash, cash equivalents and investments

$

4,548

$

4,596

Accounts receivable

647

945

Inventories

155

114

Other current assets

319

346

Total current assets

5,669

6,001

Property and equipment, net

549

525

Goodwill and purchased intangible assets, net

2,137

2,140

Other non-current assets

867

694

Total assets

$

9,222

$

9,360

 

LIABILITIES AND STOCKHOLDERS’ EQUITY

 

 

 

 

 

 

 

Current liabilities:

Accounts payable

$

432

$

420

Accrued expenses

796

970

Short-term deferred revenue and financed unearned services revenue

1,967

2,062

Total current liabilities

3,195

3,452

Long-term debt

2,634

2,632

Other long-term liabilities

735

650

Long-term deferred revenue and financed unearned services revenue

1,899

1,941

Total liabilities

8,463

8,675

Stockholders’ equity

759

685

Total liabilities and stockholders’ equity

$

9,222

$

9,360

NETAPP, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In millions, except per share amounts)

(Unaudited)

Three Months Ended

 

Six Months Ended

 

October 29,
2021

 

October 30,
2020

 

October 29,
2021

 

October 30,
2020

 

Net revenues:

Product

$

814

$

749

$

1,544

$

1,376

Services

752

667

1,480

1,343

Net revenues

1,566

1,416

3,024

2,719

Cost of revenues:

Cost of product

372

360

701

676

Cost of services

135

123

265

238

Total cost of revenues

507

483

966

914

Gross profit

1,059

933

2,058

1,805

Operating expenses:

Sales and marketing

465

432

916

861

Research and development

216

212

426

445

General and administrative

76

67

142

128

Restructuring charges

7

37

29

42

Acquisition-related expense

1

3

2

11

Total operating expenses

765

751

1,515

1,487

Income from operations

294

182

543

318

Other expense, net

(14

)

(7

)

(26

)

(39

)

Income before income taxes

280

175

517

279

Provision for income taxes

56

38

91

65

Net income

$

224

$

137

$

426

$

214

Net income per share:

Basic

$

1.00

$

0.62

$

1.91

$

0.96

Diluted

$

0.98

$

0.61

$

1.86

$

0.96

Shares used in net income per share calculations:

Basic

223

222

223

222

Diluted

229

224

229

223

NETAPP, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In millions)

(Unaudited)

Three Months Ended

 

Six Months Ended

October 29,
2021

 

October 30,
2020

 

October 29,
2021

 

October 30,
2020

 

Cash flows from operating activities:

 

 

 

 

Net income

$

224

$

137

$

426

$

214

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation and amortization

46

56

92

105

Non-cash operating lease cost

15

13

28

26

Stock-based compensation

62

49

115

103

Deferred income taxes

(17

)

(32

)

Other items, net

(16

)

3

(12

)

28

Changes in assets and liabilities, net of acquisitions of businesses:

Accounts receivable

5

(194

)

292

197

Inventories

(47

)

20

(41

)

29

Accounts payable

62

(30

)

11

(59

)

Accrued expenses

36

117

(206

)

(69

)

Deferred revenue and financed unearned services
revenue

(15

)

40

(97

)

(118

)

Long-term taxes payable

(57

)

(52

)

(65

)

(46

)

Changes in other operating assets and liabilities, net

2

29

(9

)

Net cash provided by operating activities

298

161

540

401

Cash flows from investing activities:

Redemptions of investments, net

15

22

26

107

Purchases of property and equipment

(46

)

(40

)

(97

)

(92

)

Proceeds from sale of properties

6

Acquisitions of businesses, net of cash acquired

(14

)

(350

)

Other investing activities, net

8

8

Net cash used in investing activities

(31

)

(10

)

(85

)

(321

)

Cash flows from financing activities:

Proceeds from issuance of common stock under employee stock award plans

1

53

49

Payments for taxes related to net share settlement of stock awards

(6

)

(1

)

(63

)

(34

)

Repurchase of common stock

(125

)

(225

)

Repayments of commercial paper notes, original maturities of three months or less, net

(50

)

(420

)

Issuance of debt, net of issuance costs

2,057

Repayments and extinguishment of debt

(100

)

(689

)

Dividends paid

(112

)

(107

)

(224

)

(214

)

Other financing activities, net

(2

)

(3

)

Net cash (used in) provided by financing activities

(243

)

(257

)

(461

)

746

Effect of exchange rate changes on cash, cash equivalents and restricted cash

(8

)

1

(13

)

44

 

Net change in cash, cash equivalents and restricted cash

16

(105

)

(19

)

870

Cash, cash equivalents and restricted cash:

Beginning of period

4,500

3,641

4,535

2,666

End of period

$

4,516

$

3,536

$

4,516

$

3,536

<

NETAPP, INC.

 

SUPPLEMENTAL DATA

 

(In millions except net income per share, percentages, DSO, DPO and Inventory Turns)

 

(Unaudited)

 

     In the first quarter of fiscal year 2022, the Company introduced two segments for financial reporting purposes: Hybrid Cloud and Public Cloud. Prior period disclosures have been revised for comparability.

Revenues by Segment

Q2’FY22

 

 

Q1’FY22

Q2’FY21

Product

$

814

 

$

730

$

749

Support

 

590

 

578

553

Professional and Other Services

 

75

 

71

67

Hybrid Cloud Segment Net Revenues

 

1,479

 

 

1,379

1,369

Public Cloud Segment Net Revenues

 

87

 

 

79

47

Net Revenues

 

$

1,566

 

 

$

1,458

 

$

1,416

 

 

 

Gross Profit by Segment

 

 

 

 

 Q2’FY22

 

 

 Q1’FY22

 Q2’FY21

Product

 

$

445

 

 

$

404

 

$

397

Support

 

 

542

 

 

530

 

503

Professional and Other Services

 

 

21

 

 

20

 

17

Hybrid Cloud Segment Gross Profit

 

 

1,008

 

 

954

 

917

Public Cloud Segment Gross Profit

 

 

62

 

 

56

 

31

Total Segments Gross Profit

 

 

1,070

 

 

1,010

 

948

 

 

 

 

 

Amortization of Intangible Assets

 

 

(7

)

 

(7

)

 

(12

)

Stock-based Compensation

 

 

(4

)

 

(4

)

 

(3

)

Unallocated Cost of Revenues

 

 

(11

)

 

(11

)

 

(15

)

 

 

 

 

 

Gross Profit

 

$

1,059

 

 

$

999

 

$

933

 

 

 

Gross Margin by Segment

 

 

 

 

 Q2’FY22

 

 

 Q1’FY22

 Q2’FY21

Product

 

 

54.7

%

 

55.3

%

 

53.0

%

Support

 

 

91.9

%

 

91.7

%

 

91.0

%

Professional and Other Services

 

 

28.0

%

 

28.2

%

 

25.4

%

Hybrid Cloud Segment Gross Margin

 

 

68.2

%

 

69.2

%

 

67.0

%

Public Cloud Segment Gross Margin

 

 

71.3

%

 

70.9

%

 

66.0

%

 

 

 

Product Revenues

 

 

 

 

 

 Q2’FY22

 

 

 Q1’FY22

 Q2’FY21

Total

 

$

814

 

 

$

730

 

$

749

Software*

 

$

475

 

 

$

414

 

$

417

Hardware*

 

$

339

 

 

$

316

 

$

332

 

 

 

* Our revenue recognition policy under GAAP defines a configured storage system, inclusive of the operating system software essential to its functionality, as a single performance obligation. We have provided a breakdown of our GAAP product revenues into the software and hardware components to display the significance of software included in total product revenues.

 

 

 

 

 

 

 

 

Software and recurring support and public cloud revenue

 

 

 

 

 

 

 

 

 

Q2’FY22

 

 

Q1’FY22

Q2’FY21

Product – Software

$

475

 

$

414

$

417

Support

 

590

 

578

553

Public Cloud

 

87

 

79

47

Software and recurring support and public cloud revenue*

$

1,152

 

$

1,071

$

1,017

 

 

Software and recurring support and public cloud revenue as a percentage of net revenues

 

74

%

73

%

 

72

%

 

 

 

 

 

 

*Software and recurring support and public cloud revenue is a non-GAAP measure because it includes the software component of our product revenues, but not the hardware component.

Geographic Mix

 

 % of Q2
FY’22

 

 % of Q1
FY’22

 % of Q2
FY’21

 Revenue

 

 Revenue

 Revenue

Americas

 

55

%

54

%

55

%

Americas Commercial

 

43

%

43

%

40

%

U.S. Public Sector

 

12

%

11

%

15

%

EMEA

 

29

%

31

%

30

%

Asia Pacific

 

15

%

15

%

15

%

 

 

Pathways Mix

 

 % of Q2
FY’22

 

 % of Q1
FY’22

 % of Q2
FY’21

 Revenue

 

 Revenue

 Revenue

Direct

 

24

%

23

%

25

%

Indirect

 

76

%

77

%

75

%

Non-GAAP Income from Operations, Income before Income Taxes & Effective Tax Rate

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q2’FY22

 

 

Q1’FY22

Q2’FY21

Non-GAAP Income from Operations

$

374

 

$

336

 

$

291

% of Net Revenues

 

23.9

%

23.0

%

 

20.6

%

Non-GAAP Income before Income Taxes

$

360

 

$

324

 

$

278

Non-GAAP Effective Tax Rate

 

 

18.9

%

 

18.8

%

 

15.1

%

 

 

 

 

 

 

 

Non-GAAP Net Income

 

 

 

 

 

 

 

 

 

Q2’FY22

 

 

Q1’FY22

Q2’FY21

Non-GAAP Net Income

$

292

 

$

263

 

$

236

Non-GAAP Weighted Average Common Shares Outstanding, Diluted

 

229

 

229

 

224

Non-GAAP Net Income per Share, Diluted

$

1.28

 

$

1.15

 

$

1.05

 

 

 

Select Balance Sheet Items

 

 

 

 

 

 

 

 

 

Q2’FY22

 

 

Q1’FY22

Q2’FY21

Deferred Revenue and Financed Unearned Services Revenue

$

3,866

 

$

3,904

 

$

3,651

DSO (days)

 

38

 

41

 

51

DPO (days)

 

78

 

73

 

69

Inventory Turns

 

13

 

17

 

17

Days sales outstanding (DSO) is defined as accounts receivable divided by net revenues, multiplied by the number of days in the quarter.

 

Days payables outstanding (DPO) is defined as accounts payable divided by cost of revenues, multiplied by the number of days in the quarter.

 

Inventory turns is defined as annualized cost of revenues divided by net inventories.

 

 

 

 

 

 

 

 

 

 

 

Select Cash Flow Statement Items

 

 

 

 

 

 

 

 

 

Q2’FY22

 

 

Q1’FY22

Q2’FY21

Net Cash Provided by Operating Activities

$

298

 

$

242

 

$

161

Purchases of Property and Equipment

$

46

 

$

51

$

40

Free Cash Flow

$

252

 

$

191

 

$

121

Free Cash Flow as % of Net Revenues

 

 

16.1

%

13.1

%

8.5

%

 

 

Free cash flow is a non-GAAP measure and is defined as net cash provided by operating activities less purchases of property and equipment.

 

NETAPP, INC.

 

RECONCILIATION OF NON-GAAP TO GAAP

 

INCOME STATEMENT INFORMATION

 

(In millions, except net income per share amounts)

 

 

 

 

 

 

 

 

 

 

Q2’FY22

 

 

Q1’FY22

 

 

Q2’FY21

 

NET INCOME

$

224

$

202

$

137

Adjustments:

Amortization of intangible assets

10

9

15

Stock-based compensation

62

53

49

Litigation settlements

2

5

Restructuring charges

7

22

37

Acquisition-related expense

1

1

3

Gain on sale of equity investment

(6

)

Income tax effects

(13

)

(26

)

(9

)

Income tax expenses from integration of acquired companies

1

5

NON-GAAP NET INCOME

$

292

$

263

$

236

COST OF REVENUES

$

507

$

459

$

483

Adjustments:

Amortization of intangible assets

(7

)

(7

)

(12

)

Stock-based compensation

(4

)

(4

)

(3

)

NON-GAAP COST OF REVENUES

$

496

$

448

$

468

COST OF PRODUCT REVENUES

$

372

$

329

$

360

Adjustments:

Amortization of intangible assets

(2

)

(2

)

(7

)

Stock-based compensation

(1

)

(1

)

(1

)

NON-GAAP COST OF PRODUCT REVENUES

$

369

$

326

$

352

 

COST OF SERVICES REVENUES

$

135

$

130

$

123

Adjustments:

Amortization of intangible assets

(5

)

(5

)

(5

)

Stock-based compensation

(3

)

(3

)

(2

)

NON-GAAP COST OF SERVICES REVENUES

$

127

$

122

$

116

 

GROSS PROFIT

$

1,059

$

999

$

933

Adjustments:

Amortization of intangible assets

7

7

12

Stock-based compensation

4

4

3

NON-GAAP GROSS PROFIT

$

1,070

$

1,010

$

948

NETAPP, INC.

 

RECONCILIATION OF NON-GAAP TO GAAP

 

INCOME STATEMENT INFORMATION

 

(In millions, except net income per share amounts)

 

Q2’FY22

 

 

Q1’FY22

 

 

Q2’FY21

 

SALES AND MARKETING EXPENSES

$

465

$

451

$

432

Adjustments:

Amortization of intangible assets

(3

)

(2

)

(3

)

Stock-based compensation

(29

)

(26

)

(24

)

NON-GAAP SALES AND MARKETING EXPENSES

$

433

$

423

$

405

RESEARCH AND DEVELOPMENT EXPENSES

$

216

$

210

$

212

Adjustment:

Stock-based compensation

(19

)

(15

)

(15

)

NON-GAAP RESEARCH AND DEVELOPMENT EXPENSES

$

197

$

195

$

197

 

GENERAL AND ADMINISTRATIVE EXPENSES

$

76

$

66

$

67

Adjustments:

Stock-based compensation

(10

)

(8

)

(7

)

Litigation settlements

(2

)

(5

)

NON-GAAP GENERAL AND ADMINISTRATIVE EXPENSES

$

66

$

56

$

55

 

RESTRUCTURING CHARGES

$

7

$

22

$

37

Adjustment:

Restructuring charges

(7

)

(22

)

(37

)

NON-GAAP RESTRUCTURING CHARGES

$

$

$

 

ACQUISITION-RELATED EXPENSE

$

1

$

1

$

3

Adjustment:

Acquisition-related expense

(1