NEW YORK, July 10, 2013 (GLOBE NEWSWIRE) -- Kognitio, driving the convergence of Big Data, in-memory analytics and cloud computing, today announced financial results for the first quarter of its 2014 fiscal year. The company said year-over-year revenue on a quarterly basis grew for the fourth quarter in a row and that it added five new clients in the latest quarter.
Kognitio, a privately-held firm, recorded a 43 percent year-over-year increase in revenue from North American clients, and an 81 percent uptick in order volume from those companies. Company officials noted that non-recurring revenues, increased by 19% from the same time last year.
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Kognitio attributed its continued growth to the continued interest in Big Data and Hadoop, especially among mid- and large-sized organizations that face the ever-expanding need to analyze immense amounts of information in less time than before, while accessing it from multiple locations.
"We are executing on our strategy of expanding both with new projects for our established clients, and attracting new accounts," said Steve Millard, Kognitio president and chief executive officer. "At a time when companies are seeking Big Data solutions more than ever, we are successfully pointing to our track record of delivering an advanced in-memory analytical platform that complements their existing information management environment and primes it for growth."
In the quarter just ended, Kognitio:
- Introduced the latest version of the Kognitio Analytical Platform, featuring MPP in-memory code execution and the ability to run industry-standard SQL on top of Hadoop;
- Announced an extension of its long-standing agreement with British Telecom, to provide advanced data analytics on millions of call data records;
- Said that one of America's largest domestics goods retailers had selected the Kognitio Analytical Platform to help it more effectively execute marketing campaigns to its customers nationwide;
- Announced an alliance with DMG Federal, targeting US government agencies with a FISMA-approved cloud solution;
- Signed a contract with Chicago-based Willard Bishop LLC, delivering a cloud analytics environment to provide advanced retail analytics to retail and consumer packaged goods companies throughout the US; and
- Was featured in a report from 451 Research, which said the ability of Kognitio to run R scripting in a massively parallel environment provides "further differentiation and should strengthen its claim to act as a specialist in-memory analytic platform that complements existing data warehousing and Hadoop deployments."
"Momentum is a key factor in any company's growth, and we clearly have it," Millard said, "Moving forward, we will be even more aggressive in our efforts to target companies that can benefit from the Kognitio Analytical Platform. By doing so, we intend to continue our upward trend, and further establish our company as an industry leader."
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.