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Thru Reports 6th Consecutive Quarter of Record Growth
Oct 30, 2012 (04:10 PM EDT)
DALLAS, Oct. 30, 2012 /PRNewswire/ -- Thru, Inc., a cloud innovator of high-performance, enterprise class managed file transfer (MFT) solutions reported Q3 2012 as another record quarter, marking 6 consecutive quarters of record growth, with a hefty 36% (GAAP) year-over-year increase. Thru has grown more than 100% in the last three years and is expected to close the year with 43% sales growth.
"Our success validates our singular focus to provide our enterprise customers with a platform to securely transfer vast amounts of data globally," said Thru CEO Lee Harrison. "Our recent re-investment in infrastructure with our global data center and networking partner NTT allows us to offer even faster and more cost effective services back to our customers. Q3 2012 numbers vindicate our 2012 strategic initiative of doubling our research and development budgets to increase our rate of innovation and enabling us to stay ahead of the market's ever changing need."
"In Q3 we were able to greatly increase penetration in key vertical markets," said Thru VP of Marketing Nicholas Blanton. Financial Services, for example, saw a bookings increase of 300%. "Along with our success in new bookings and GAAP revenue, our greater-than-1-year contract metric increased from 35% to 57%."
Sales performance with Global 2000 companies exceeded Thru's expectations, consistent with analyst predictions that the enterprise adoption of cloud-based services would continue to accelerate.
"Our global business was key this quarter," announced Thru VP of Sales Denis Brotzel "Despite the financial turmoil in Europe, our teams were able to successfully hit all our sales goals for that region. We also saw increased adoption in Asia and Australia. Since fully completing the Rumble Australia acquisition and integration, we are now able to recognize the full potential of that new revenue stream. Customer acceptance of the acquisition is now historic as all Rumble customers have also signed new contracts with Thru."
In Q3, Thru rolled out enhancements to its flagship Microsoft Outlook integration package while also implementing greater mobile access. Q4 will see web based multi-language support and the most secure and flexible IOS and Android apps the MFT market has produced. The most exciting Thru Portal release in several years, the Microsoft Surface/Windows 8-based user interface will become available in Q1 2013 and roll out globally in Q2 2013.
Custom integration business was also on the rise in Q3, demonstrating that the topology of the Thru platform is comprehensive and that the one-size does-not-fit all approach of the company's technology is a key advantage for large organizations needing to embed MFT in their enterprise architectures.
Increased demand for cloud-based managed file transfer is driving the MFT market. According to industry analysts, the cloud MFT market is expected to grow more than 25% year over year. Entering its tenth year in business, Thru is well-positioned to stay in the forefront of the MFT market and continue to outperform and capitalize on the expanding market in this quarter and beyond.
Thru, Inc., is a global leader in cloud-based managed file transfer, trusted to distribute and manage information quickly and securely across the globe. Handling millions of transactions while serving a multitude of industries including software, financial services, architecture and manufacturing, Thru has numerous enterprise installations in over 70 countries. Thru's platform services such as FTP replacement, secure dropbox, enterprise collaboration and mobile file sharing allow businesses and enterprises to securely manage the flow of all data.
SOURCE Thru, Inc.