Vbrick Continues to Show Strong Revenue Growth in 2021
Leading Enterprise Video Platform Provider sees Annual Recurring Revenue Grow 25% Year-over-Year
HERNDON, VA.--(Business Wire / Korea Newswire) March 15, 2022 -- Vbrick, the leading enterprise video platform provider, today announced continued accelerated growth in 2021 fueled by product innovation, new customer acquisitions, and expanded adoption of its flagship Enterprise Video Platform (EVP) across commercial enterprise and federal government sectors.
Financial highlights for FY2021 include:
· 25% YOY Annual Recurring Revenue (ARR) growth
· ARR now accounting for 80% of Total Revenue
· ARR GAAP Gross Margin exceeding 79%
Business highlights include:
· 107% Enterprise Net Revenue Retention
· Average annual spend of the top 50% of customers increased by 17%
· 80% of all customers have purchased two or more products
“The hybrid work environment presents significant opportunities and challenges for large enterprises,” said Paul Sparta, Chairman and CEO of Vbrick. “The pervasive use of video, both live and asynchronous, enhances productivity and connects employees, whether working in traditional office settings or remotely. Vbrick’s ability to deliver the right video content to the right people at the right time, in the most highly secure fashion, is unmatched in our industry.”
· The number of Vbrick EVP users increased by 50% from 2020 to 2021
· Vbrick EVP users uploaded 21% more videos from 2020 to 2021
· Vbrick’s EVP delivered over 23,000 webcasts in 2021, many of which exceeded 10,000 participants
“Vbrick’s business in 2021 saw significant traction across all industry sectors and geographies. The strength of our balance sheet and our cash position will allow us to make strategic investments in research and development and sales as businesses continue to return to the office. We are listening to what our customers and partners need and charting our course accordingly.”
Vbrick is the leading Enterprise Video Platform (EVP) provider. Its end-to-end, cloud-native solution removes operational, performance, security, and integration barriers to adoption, unlocking the true power of video for the enterprise. The world’s most widely recognized brands rely on Vbrick’s proven unified streaming, video-on-demand, and content management capabilities to engage, empower, and transform their organizations at scale. To learn more visit vbrick.com.
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Director of Corporate Communications
This is a news release distributed by Korea Newswire on behalf of this company.