NEW YORK, Oct. 4, 2012 /PRNewswire/ -- Kognitio, driving the convergence of in-memory analytics, Big Data and cloud computing, today announced its continued development in the second quarter of its fiscal year, reporting better-than-projected revenue and customer growth. These numbers are consistent with the company's streamlined positioning in the Big Data and business analytics sectors.
For the second quarter of the fiscal year, Kognitio, a privately-held firm, reported a 27 percent increase in year-over-year revenue, with a 42 percent quarter-over-quarter increase. The company also exceeded its new revenue and order targets, delivering the highest number of new orders in years. Kognitio also reported the strongest sales pipeline in its history, with a greater focus on cloud-based and software licensing, which provides significant margins and is key to building a long-term recurring revenue stream.
Company officials said Kognitio achieved its significant growth through a strategy aimed at targeting emerging firms, where data analysis is key to their operation. The Kognitio product offerings, including the Kognitio Analytical Platform and the industry's first SaaS-based business intelligence offering, Kognitio Cloud, deliver the robust performance those companies need at a fraction of the cost of competing solutions.
Kognitio continued to receive strong praise from clients:
- PlaceIQ: "Kognitio Cloud is proving to be an ideal platform to analyze immense amounts of information, and quickly derives results so that we can put that information to immediate use."
- VivaKi: "We see the Kognitio Cloud offering to be a quantum leap in terms of technology, and we know that it will provide us with a far more extensive and powerful platform than we've seen in traditional databases."
- Give As You Live: "We can now implement an analytical infrastructure that benefits both our retail partners and the people who purchase goods and services through our site every day."
In its second quarter of the fiscal year, Kognitio also worked to expand its channel partner program, enabling integrators who work with small and medium-sized enterprises to help recommend business intelligence implementations. The company said it will continue to work to grow that program in the coming quarters.
"Our second quarter was the most impressive quarter we have ever turned in as a company, and I believe it's indicative of things to come," said Steve Millard, Kognitio president and chief executive officer. "The market is more competitive than ever, but firms that are seeking a powerful and cost-effective analytical solution are beginning to seek us out. We have revitalized Kognitio so that we can quickly respond to emerging opportunities. We are in the right markets, selling the right products and consistently growing our revenues."
Kognitio is driving the convergence of in-memory analytics, Big Data and cloud computing. Having delivered the first in-memory analytical platform in 1989, it was designed from the ground up to provide the highest amount of scalable compute power to allow rapid execution of complex analytical queries without the administrative overhead of manipulating data. Kognitio software runs on industry-standard x86 servers, or as an appliance, or in the Kognitio Cloud, a ready-to-use analytical platform. The Kognitio Cloud is a secure, private or public cloud Platform-as-a-Service (PaaS). Kognitio Cloud leverages the cloud computing model to make the Kognitio Analytical Platform available on a subscription basis. Clients span industries, including market research, consumer packaged goods, retail, telecommunications, financial services, insurance, gaming, media and utilities.