NEW YORK, Jan. 15, 2014 (GLOBE NEWSWIRE) -- Kognitio, driving the convergence of Big Data, in-memory analytics and cloud computing, today announced a continuation of its consistent growth in the data analytics market, reporting a 18% year-over-year increase in revenue for the third quarter of its fiscal year, which ends March 31st. It further reported that for revenue for the calendar year 2013 was up 15% versus 2012.
In an environment dominated by growing interest in Big Data and Hadoop, the company again reported stellar results, including a 49% year-over-year increase in non-recurring revenue for the third quarter, along with increases of 28% in software revenue and an increase of over 200% in new clients for the same time period.
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For calendar year 2013, Kognitio reported dramatic, across-the-board growth:
- Total revenue up 15%;
- Software revenue up 155%;
- US-based non-recurring revenue up 204%;
- Number of new clients up by 71%
Forrester Research also included Kognitio in its latest Forrester Wave™ for enterprise data warehouses (EDW), "The Forrester Wave: Enterprise Data Warehouses, Q4 2014." The analyst firm called Kognitio a "Strong Performer" in its evaluation of 11 vendors, saying, "Kognitio's entirely in-memory, distributed EDW is appealing for customers looking for fast performance on commodity hardware."
"We continue our growth by paying attention to the fundamentals and delivering solutions that our clients are using to gain business advantage," said Steve Millard, Kognitio president and chief executive officer. "Big Data has moved far beyond the experimental stage and into the mainstream; companies of all sizes are actively seeking the benefits that the analysis of massive amounts of data can provide. As a pioneer in this field, Kognitio has been helping firms gain insights for years. With the cost of storage and memory at record lows, more firms than ever can afford to implement data analytics, be it on-premise or through the cloud. Increasingly, they see Kognitio as a preferred solution to help them achieve their business goals."
During the third quarter of the Kognitio fiscal year, which ended last week, the company introduced the latest version of the Kognitio Analytical Platform, featuring more than a dozen high-performance, high-throughput improvements. It also delivers a True In-MemorySM advantage, allowing data scientists and business analysts alike to use industry-standard SQL alongside any standard programming language and interact with data from Hadoop, as well as conventional data systems in their infrastructure in near-real time.
Kognitio also reported major wins and contract renewals at some of the world's largest industrial manufacturers and consumer superstores.
For more than a generation, Kognitio has been a pioneer in software for advanced analytics, helping companies gain greater insight from large and complex volumes of data with low latency and limitless scalability for competitive business advantage. Sitting at the nexus of Big Data, in-memory analytics and cloud computing, Kognitio extends existing data and BI investments as an analytical accelerator, providing a foundation for data scientists and analytical information services. The Kognitio Analytical Platform can be used as a data science lab or to power comprehensive digital marketing analytics; it runs on industry-standard servers, as an appliance, or in Kognitio Cloud, a ready-to-use analytical Platform-as-a-Service (PaaS) in a public or private cloud environment.