NEW YORK, April 3, 2013 (GLOBE NEWSWIRE) -- Kognitio, driving the convergence of Big Data, in-memory analytics and cloud computing, today announced the conclusion of the most successful year in its history. The company said it doubled its bookings in FY13, growing at a year-over-year rate of 99.2 percent, and reported revenue numbers for the fourth quarter of its fiscal year that were 69 percent higher than the third quarter, and 48 percent higher than for the same period last year.
Kognitio attributed its record-setting growth to the overwhelming interest in Big Data, as well as its ability to deliver affordable solutions that make business data analytics far more available to companies of all sizes than ever before.
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Kognitio reported a year-over-year increase of 146 percent in contracts for its Kognitio Cloud service, and 283 percent for software licensing. During its more than 20 years in business, Kognitio has been at the forefront of virtually every major innovation in data analytics, ranging from the industry's first in-memory analytical database and the first integrated appliance to offering data analytics as a service and more.
"A year ago, I told our team that I had high expectations for them. We exceeded those expectations," said Steve Millard, Kognitio president and chief executive officer. "In every major area, we outperformed our projections. Companies that need the speed and power of in-memory data analytics understand, more than ever, that Kognitio delivers the insights they want, in a more flexible and less-costly manner than its competitors."
Kognitio also reported:
- Its third consecutive quarter of double-digit growth;
- Its first enterprise license agreement with bet365 Group, Ltd., one of the world's leading online gambling groups with more than seven million customers in 200 countries; and
- Substantial growth in the North American market, including new contracts with several major Fortune 500 firms, including a major superstore retailer.
Kognitio also introduced several innovations to the market during its fiscal year, including offering a fully functional copy of the Kognitio Analytical Platform at no charge through the Amazon and Informatica marketplaces, and announced support for massively parallel "R" via external scripts for computationally intensive processes. In addition, Garter Inc. analysts positioned Kognitio in the "visionaries" quadrant of their "Magic Quadrant for Data Warehouse Database Management Systems," published in February, and Enterprise Management Associates analysts recently reported in a white paper that Kognitio "shows the most promise for an in-memory" database, when compared with Oracle TimesTen and SAP HANA.
"All of this shows clear momentum on our part," Millard said, "and it places us in an enviable position in the marketplace. We are delivering solid value and a solution that has us poised for even greater growth as we enter our new fiscal year."
Kognitio is driving the convergence of Big Data, in-memory analytics 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 Kognitio Cloud, a ready-to-use analytical platform. Kognitio Cloud is a secure, private or public cloud Platform-as-a-Service (PaaS), leveraging 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.