FalconStor Software Announces Fourth Quarter and Full Year 2024 Results
FALCONSTOR SOFTWARE (FALC)
US:NASDAQ Investor Relations:
falconstor.com/page/559/investor-press-releases
Company Research
Source: Business Wire
Strong Hybrid Cloud ARR Growth and Profitability91% year-over-year increase in total hybrid cloud ARR run-rate for full year 202412% EBITDA for full year 20247% net income for full year 2024 AUSTIN, Texas--(BUSINESS WIRE)--FalconStor Software, Inc. (OTC: FALC), a trusted data protection leader modernizing disaster recovery and backup for the hybrid cloud world, today announced financial results for its fourth quarter and full year 2024, which ended on December 31, 2024.“Our 2024 results highlight FalconStor’s continued transformation into a high-growth, high-margin recurring revenue business,” said Todd Brooks, CEO of FalconStor Software. “While total revenue declined versus 2023 with our continued aggressive shift away from one-time perpetual licenses, we achieved a 91% increase in Hybrid Cloud ARR run-rate and now derive 80% of total revenue from recurring sources, providing long-term stability and predictability. Our disciplined execution has enabled us to maintain strong profit
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