HERNDON, Va., Oct. 27, 2020 /PRNewswire-PRWeb/ -- Vbrick Systems, the leader in enterprise video platform solutions, today announced continued accelerating growth in Q3 2020 fueled by product innovation, increased new customer wins, and expanded use across its entire customer base.
Financial highlights for Q3 2020 include:
- 84% YOY Annual Recurring Revenue (ARR) bookings growth
- 2020 YTD subscription revenues up 50% versus 2019
- Gross Margin up 500 basis points from a year ago to 72%
"Our results prove that enterprises today require the use of video far beyond the capabilities of traditional video conferencing and collaboration solutions" said Shelly Heiden, CEO Vbrick Systems, Inc. "Vbrick's cloud-native Rev platform uniquely extends streaming and on-demand video capabilities across the entire enterprise, even those with tens of thousands of users. Rev works with leading solutions, like Cisco Webex, Zoom and Microsoft Teams, to allow users to massively increase their audience size for both live and stored video."
The dramatic increases in usage tell the story:
- Webcasts delivered on the Rev platform grew 66% from Q3 2019 to Q3 2020.
- The number of Rev users increased 184% from Q3 2019 to Q3 2020.
- Rev users uploaded 82% more videos from Q3 2019 to Q3 2020 driven by migration to Rev as a unified video content management platform.
Strong customer satisfaction metrics include:
- 116% Enterprise Net Retention Rate
- Net Promoter Score (NPS) of 55 vs SaaS industry average of 30
- YTD bookings from customer expansions up 70%
"Vbrick's strong pipeline and robust offerings portend sustained bookings and revenue growth for the foreseeable future. Our partner relationships, at both the product and business levels, combined with a strong balance sheet and access to capital will continue to see the company move from strength to strength as the enterprise video platform market continues to evolve both in North America and overseas."
"We are proud to help our customers leverage video across their entire organizations to engage, empower and transform the new digital workplace. We are particularly proud of our customer satisfaction as it is a true measure of success. Our customer focus has made us more innovative and agile. This in turn has helped us achieve our strong growth momentum," said Shelly Heiden, CEO Vbrick Systems, Inc.
About Vbrick
Vbrick enables organizations to leverage the power of video to engage, empower and transform. Our industry-leading Rev enterprise video platform is a complete solution for businesses to capture, manage and securely distribute live and on-demand video globally at scale to any device. The world's most widely recognized brands adopt Vbrick solutions to overcome network complexity and risk to meet critical live video needs from CEO all-hands meetings to team broadcasts and to support innovative uses of on-demand recorded videos for sales, marketing, training, compliance, security, and user-generated content. Vbrick solutions integrate with and complement unified communications systems and provide the analytics and intelligence to maximize return on video investments. To learn more, visit http://www.vbrick.com.
SOURCE Vbrick Systems, Inc.
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