Non-recurring revenue surges by more than 84 percent
NEW YORK, October 16, 2013 — Kognitio, driving the convergence of Big Data, in-memory analytics and cloud computing,today announced financial results for the period June to September 2013. The company continued its steady pace of double-digit growth, measured quarter over quarter. It also achieved a 15 percent increase in total revenue from its previous fiscal quarter, and reported that it has brought in as many new clients in the first half of the current fiscal year than it did for the entire previous fiscal year, and that 86 percent of the new clients this year are in North America.
Kognitio, a privately-held firm, recorded an 84 percent year-over-year increase in revenue from non-recurring sources, such as software licensing and appliance sales, with a 110 percent increase on a quarter-over-quarter basis.
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Kognitio attributed its continued growth to the continued interest in Big Data and Hadoop, especially among mid- and large-sized organizations that face the ever-expanding need to analyze immense amounts of information in less time than before, while accessing it from multiple locations.
“Our ability to continue posting double-digit growth is the clearest sign of our continued success,” said Steve Millard, Kognitio president and chief executive officer. “In-memory analytical platforms have attracted the awareness of the market; leading analysts like Gartner to say that in-memory computing is ‘racing towards mainstream adoption.’ As a pioneer in this field, we are seeing greater interest, and that is resulting in a significant and continued increase in our business.”
In the quarter just ended, Kognitio:
- Was featured in a report from the Bloor Group, “Why In-Memory Technology Will Dominate Big Data: In-Memory and the New BI.” The report, from industry analyst Robin Bloor, cited the Kognitio in-memory Analytical Platform, saying it can provide companies with a significant strategic advantage over their less-advanced competitors and allow them to predict future trends, rather than merely reacting to past data points.
- Keynoted the SPARK! Event on Modern Data Platforms in business intelligence (BI), in Atlanta.
- Extended its global presence through an agreement with South Africa-based EnterpriseWorx, to deliver the first cloud-based analytics offering based on the African continent.
- Added new companies as customers, including iAuto, an Atlanta-based firm that offers analytics to car dealers, via Kognitio Cloud, to help them allocate their marketing dollars more effectively.
“By offering the industry’s widest range of implementation options,” Millard said, “we are able to help companies of all sizes realize the benefits from the use of the Kognitio Analytical Platform. It is part of our continued efforts to position Kognitio as an industry leader.”