Business Intelligence Software Firm LogiXML Continues Dramatic Growth; Company Exceeds Total 2006 Revenue in First Half of 2007
Company has doubled staff, added more than 70 new customers since the beginning of 2007.
Mclean, Va. (PRWEB) July 19, 2007 -- LogiXML (www.logixml.com) today announced that it is experiencing phenomenal growth again in 2007, continuing the trend of the last three years. The company's popular Web-based Logi 8 Business Intelligence (BI) Platform continues to gain momentum in a changing BI market formerly dominated by expensive and hard to implement legacy products.
The performance of LogiXML, recording 100% annual growth in 2006 and on track to reach 137% growth in 2007 on a pro-rated basis, is notable when compared to International Data Corporation's recent market report (Worldwide Business Intelligence Tools 2006 Vendor Share - June 2007--IDC #207422 June 2007) that shows overall BI market growth in 2006 at only 11.5%.
Sales for the privately held company generated in the first half of 2007 have already exceeded the total sales of 2006 by 20% and the company will double its office space at its Northern Virginia headquarters in the second half of the year. This growth comes from adding more than 70 new customers in 2007; a 40% growth of the customer base during this period. Plus, LogiXML is growing quickly in the fast-growing OEM market where application software firms are choosing to embed the Logi BI technology into their core offerings. The OEM business has tripled from 2006.
"LogiXML continues to significantly outpace the growth of the overall business intelligence and reporting market. Our growth is driven by successfully serving the needs of innovative companies that are extending key BI features like dashboards out to their sales teams, line managers and business professionals who need Web-based access to company data. The value proposition offered by LogiXML, combining exciting product capabilities with aggressive licensing options, drives our success in the market," said Arman Eshraghi, LogiXML CEO.
The company delivered a major upgrade of its product line with the introduction of Logi 8 in January and added more advanced features including geographic mapping in Logi 8.1 in May. In June, the company introduced the first of its Logi Connector Pack options with a link to Salesforce.com data.
In addition to sales growth in first half of 2007 that exceeded all of 2006 sales, key milestones in 2007 include:
| | - 2.3 times sales
- 40% growth in new customers
- 90% employee growth
- 2.5 times square footage growth in office space
- 200% growth in OEM sales
- 77 countries worldwide have registered LogiXML users
- 7 new reseller partners added
- 46% growth in trial downloads
- 1,000 plus on-line developer community members
|
A large share of the growth of LogiXML customers has come from success in the small and medium sized business market, a segment that large BI software firms are now attempting to target. The company also continues to attract customers from large organizations who are distributing BI by giving department managers and business unit executives autonomy in their choice of BI software rather than prescribing a particular product at the corporate level. Also of note in the competitive market is the fact that LogiXML revenue is dominated by 80% new customer software licenses as compared to the top legacy BI firms that have become increasingly dependent on professional services revenue because of the complexity of their products.
"In the first half of 2007, we added staff to reach more customers by expanding our sales and marketing teams. We added support professionals to maintain our high level of support as we significantly grow our customer base. Plus, we have grown our development staff to accelerate our pace of innovation to stay well ahead of the competition. By executing our strategy, we are well on our way to exceeding our aggressive 2007 growth objectives," added Eshraghi.
Among the new LogiXML OEM customers added in 2007 are human service software innovator Harmony, Inc. and LOGICS, a leader in software for the utilities industry. Representative customer wins in 2007 include car care leader Turtle Wax, the State of Washington Department of Natural Resources and Pattern Recognition, Inc. a software development services firm.
About LogiXML, Inc. (www.logixml.com)
LogiXML, the leader in interactive, Web-based Business Intelligence, empowers enterprises to turn data into business-critical information with pure Web-based reporting and analysis products. The Company offers a comprehensive platform that addresses all key areas of BI - managed reporting, ad hoc reporting, analysis and data services. Used by thousands of organizations worldwide, LogiXML products are built on standards-based technologies for easy integration, implementation and upgrade. LogiXML's per server pricing model makes its powerful technology the most affordable BI solution on the market. Founded in 2000, LogiXML is privately held and based in McLean, Virginia.
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