Infinidat says it has accelerated its business, claiming a 59 percent annual bookings growth rate in calendar Q1 of 2023.
The privately held company, which didn’t release revenue numbers, has developed memory-cached high-end block and file arrays with cyber-security and data protection capabilities. The Infinibox hybrid flash/disk systems have up to 17.5PB of effective capacity after data reduction and thin provisioning. The InfiniBox SSA scales up to 3.3PB of effective capacity. Infinidat’s InfiniGuard data protection arrays have more than 85PB of effective backup data capacity. These systems compete with IBM’s DS8000, Dell PowerMAX, Hitachi Vantara’s VSP systems.
Phil Bullinger, Infinidat’s CEO, said in a statement: “Infinidat achieved record results and one of our highest growth rates in Q1 2023, extending the trajectory of very strong growth and execution we achieved in 2021 and 2022.”
In his view: “The compelling financial advantages and unmatched technical value of our storage solutions are resonating powerfully in today’s enterprise IT environments contending with budget constraints, demanding SLAs, cyber resilience concerns, and operational complexities and uncertainties.”
An IDC report claimed that Infinidat arrays can have an 11 month return on investment period. CMO Eric Herzog said Infinidat’s business is also growing because of the array’s capability of consolidating 20 or more storage arrays from competitors into a couple of racks of Infinidat storage. This saves on datacenter space, power, cooling and system administration costs.
He said that, at system upgrade time in four or five years, recycling two racks of Infinidat storage was going to be simpler, and generate less e-waste than recycling 20 storage systems.
Infinidat reported 40 percent year-on-year bookings growth in 2021. This slowed somewhat in 2022 when it finished the year with double digit growth and was cashflow-positive. Now its bookings growth rate has hit 59 percent, it claims. Herzog believes that its cyber-security and consolidation-based storage cost reduction capabilities are resonating with customers facing a tough macro economic climate and continual malware assaults.
Comment
None of Infinidat’s competitors have added memory caching to their array technology, giving Infinidat a performance advantage, as it can extract more performance from cheaper storage media. The company has a strong technology roadmap and is profitable. It promoted EVP and GM Americas Steve Sullivan to its CRO role in February and he won’t want to see the bookings growth rate fall.
Expect more news on the Infinidat technology front in the next month or two.
