Press release published by: https://www.storagenewsletter.com
This is a Press Release edited by StorageNewsletter.com on 2017.08.17
Source URL: https://www.storagenewsletter.com/2017/08/17/infinidat-reporting-250-gaap-revenue-growth-from-2q16-to-2q17/
INFINIDAT Ltd announced its 2Q17 results, reporting 250% GAAP revenue growth in 2Q17 compared to 2Q16.
2Q17 was also the most profitable and second highest revenue quarter in the company’s history.
“INFINIDAT customers added 156PB of capacity in the second quarter alone, which was also our most profitable quarter on record,” said Moshe Yanai, chairman and CEO. “I’m very proud to say that the relentless innovation, hard work, and financial discipline of our 500 employees have enabled us to build the highest capacity, most profitable independent enterprise storage company in the world.”
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“Petabyte-scale enterprise is by far the fastest growing segment of the storage industry, and will remain so for the next decade,” said Izhar Sharon, president. “Our value proposition, business model and customer efficacy are proving themselves every day. We’ve achieved profitability while most of our industry peers continue to report significant losses.”
INFINIDAT achieved growth in all geographies served, with particularly strong performance in North America, the UK and Latin America. Worldwide, over 32% of sales came from new customers, up from 25% in 1Q17. It has now shipped over 2EB of capacity worldwide with the InfiniBox enterprise storage system and continues to grow its customer base in all markets and industry segments
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