High-end array supplier Infinidat says bookings bounced 29 percent year-over-year during the first six months of 2023.
The company sells InfiniBox storage arrays with a memory-caching capability that it says produces faster storage IO both with disk-based and all-flash systems. It also sells cyber-resilience capabilities in the form of InfiniGuard arrays and its InfiniSafe software, claiming the software and its InfiniSafe Cyber Detection product can offer close to immediate recovery. It also has a hybrid cloud play as its InfuzeOS has been ported to AWS.
CEO Phil Bullinger said: “Infinidat experienced strong demand for our enterprise solutions in 1H 2023 and extended the trajectory of profitable growth we accomplished in 2021 and 2022.”
Although the privately owned company is talking about bookings rather than revenues, which will come later, this is still a notable feat.
Many suppliers have been hit by recessionary forces such as post-Covid supply chain issues, the Ukraine-Russia war, and a weakened general economy. It hasn’t affected everybody though.
IBM said storage hardware sales were a bright spot in its most recent results, and VAST Data claims sales are taking off too.
Infinidat reckons its growth is due to array features, support and price/performance. It cites an Infinidat commissioned IDC Business Value White Paper, which calculates the InfiniBox portfolio provides an 11-month payback period.
The cyber-resiliency features match a need in the market. According to the June 2023 Fortune 500 CEO survey, cybersecurity was the number two concern of CEOs behind recession concerns.
CMO Eric Herzog told us: ”Cyber is becoming a concern of all the companies these days – both customers and prospects. Channel partners are also telling us customers want to understand the vendor’s cyber story. It is clearly helping us both with the customers and the partners.”
The Fortune 500 survey also found that many of the CEOs said their businesses were already using generative AI, with 75 percent expecting that AI will enable them to need fewer workers in five years’ time. There’s an opportunity here for Infinidat to store data and feed it to AI training and inference processes, as well as using machine learning in its NeuralCache and also AIOps to make its array operation more efficient.