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FalconStor Software, Inc. (OTCQB: FALC) is a pioneering company in the realm of software-defined storage. Headquartered in Austin, TX, FalconStor has established itself as a leader with its innovative converged data services software platform that is hardware agnostic. This flexibility allows enterprises to avoid vendor lock-in and select the best applications and hardware components tailored to their business needs.
FalconStor's flagship solution, FreeStor®, is an open and integrated platform that empowers organizations to modernize their data centers efficiently. FreeStor® ensures high performance and strategic data placement while safeguarding existing investments. The primary mission of FalconStor is to enhance data availability and system uptime, thus guaranteeing nonstop business productivity and lowering operational costs through simplified data management.
FalconStor's award-winning solutions are widely recognized and supported globally by OEMs, top service providers, system integrators, and resellers. The company has a significant presence with offices throughout Europe and the Asia Pacific region, demonstrating their commitment to providing exceptional service and support worldwide.
With a strong focus on innovation and customer-centric solutions, FalconStor continues to deliver cutting-edge technology that helps businesses stay ahead in a rapidly evolving digital landscape. For more information, visit falconstor.com.
FalconStor Software (FALC) announced its Q2 2024 financial results, highlighting continued growth in hybrid cloud ARR run-rate. Key points include:
- Total revenue remained flat at $2.4 million compared to Q2 2023
- 112% increase in total hybrid cloud ARR run-rate year-over-year
- $0.4 million increase in Net Income compared to Q2 2023
- Ending cash of $2.5 million, up from $1.3 million in Q2 2023
- Non-GAAP EBITDA of $0.11 million, improved from $(0.05) million in Q2 2023
- GAAP Net Loss of $(0.03) million, reduced from $(0.46) million in Q2 2023
The company emphasized its focus on operating efficiency and alignment with hybrid cloud solutions adoption. FalconStor also completed certification of StorSafe and StorGuard integration with IBM Storage Ceph, expanding into AI data lake solutions.
FalconStor Software has announced the certification of its StorSafe and StorGuard solutions with IBM Storage Ceph, enhancing data access, migration, and availability for IBM watsonx customers. This strategic move aims to accelerate the 'Journey to AI' by providing comprehensive data and backup optimization, virtualization, and protection across on-premises, hybrid, and multi-cloud deployments.
Key highlights include:
- StorSafe is now IBM-certified for Storage Ceph, offering advanced compression and block-level deduplication for optimized backup and recovery
- StorGuard certification brings Fibre Channel and iSCSI support, data mobility, and enhanced protection to Storage Ceph
- These integrations enable enterprises to effectively manage massive data stores for AI-driven insights and innovation
FalconStor Software, Inc. (FALC) announced its first quarter 2024 financial results, showcasing a 1% increase in total revenue, a 127% rise in total hybrid cloud ARR run-rate, and a $0.3 million increase in net income. The company focused on expanding its data protection technology across the IBM global ecosystem, driving growth in revenue and annual recurring revenue. Despite missing profitability targets, FalconStor saw improvement in GAAP net income compared to the previous year.
FalconStor Software Reports Q4 2022 Results
FalconStor Software, Inc. (OTCQB: FALC) announced a 20% increase in hybrid cloud annual recurring revenue (ARR) run-rate for Q4 2022 compared to Q3 2022, with a significant 222% rise year-over-year. The company generated $2.5 million in total revenue for Q4, a decrease from $3.1 million in Q3 2022, and a decline from $3.7 million in Q4 2021. However, net income was positive at $20,000, contrasting with a loss in the previous year. The total revenue for 2022 was $10.1 million, down from $13.9 million in 2021. FalconStor is optimistic about future growth through its partnership with IBM and continued focus on hybrid cloud solutions.
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