xMatters Announces Strong Q1 2015 Results
August 12, 2015
xMatters, the developer of cloud-based communications platform, recently announced that it has made strides in Q1 2015 and expects to continue that success in the coming seasons.
The company's first quarter ended June 30th, and in those three months it saw 60 percent of its sales going to Fortune 1000 companies. In addition, xMatters said it had a quarterly customer retention rating of 97 percent. That will be a tough quarter to follow, but Troy McAlpin, the CEO of xMatters, appeared confident that his team could continue the success it has seen as of late.
“Worldwide demand for our technology remains strong as businesses simply cannot afford long outages, disruptions, and downtime,” McAlpin said. “Each day, hundreds of large global enterprises and millions of people rely on our intelligent cloud communications solutions to keep businesses operational. I'm pleased with our progress so far this fiscal year, proud of the xMatters team, and looking forward to continuing our progress to provide innovative communications solutions to our customers.”
xMatters said the most prominent development of this quarter was the advances it made with its 2015 Spring Release. This product update addressed on-call scheduling, conferencing, mobile apps, and integrations to make those areas of its platform better than before. Now customers have the ability to complete tasks such as viewing the individuals who are on-call in any employee sub-group and using “mega conferences” which support the gathering of up to 200 users at once.
This quarter makes the 13th consecutive quarter of record recurring revenue growth. xMatters is supporting its growth with two new data centers in North America, and that is helping it achieve continuance of the 99.97 percent uptime it saw this past quarter. Two big names in their industries, Kellogg Company and Tesco, came on board the xMatters platform to be a part of these advancements.
xMatters’ results are certainly directionally correct. Its adoption by new large enterprises and expansion of its data centers position it well to continue to grow. However, that will mean continued pressure on to keep its uptime above 99 percent and its quality of service high as critical competitive differentiators.
Edited by Peter Bernstein