informa
Products & Releases

Q1 Labs Announces First Half 2009 Performance

Company doubles number of customers acquired during this period compared with the first half of 2008
WALTHAM, Mass. ' Q1 Labs, a global provider of security information and event management (SIEM) and log management products, today announced exceptionally strong growth in its worldwide business for the first six months of 2009, ended June 30.

The company doubled the number of customers acquired during this period compared with the first half of 2008 " including a record 117 new accounts in the second quarter " bringing its current total number of worldwide customers to 672.

"We continue to win business, outpace the market, and take market share from our competitors," said Q1 Labs' CEO Shaun McConnon. "Our QRadar family was designed to be easily deployed and utilized, and offers unique functionality not offered by our competition. This fundamental value proposition is the reason for our success with both our end user customers and our partners and, as a result, Q1 Labs is winning customers in various industry vertical markets around the world."

Highlights of Q1 Labs' first half 2009 results compared with the same period of 2008 include:

  • The company's QRadar appliance business grew 80 percent.
  • Q1 Labs' OEM business soared 237 percent.
  • 79 percent of the company's QRadar family product sales came from new customers, with 21 percent being repeat business from existing accounts.
  • 91 percent of product revenue came by way of Q1 Labs' channel partners, including scores of new customers in EMEA via the company's OEM relationships with Juniper Networks and Enterasys.
  • Q1 Labs was named by Gartner, Inc. to the Leaders Quadrant of its May 2009 "Magic Quadrant for Security Information and Event Management."
  • To cope with the increased demand in the broad market for its solutions, Q1 Labs increased its headcount approximately 20 percent, and attracted senior-level sales talent from several well known security companies.

    "The experience we have had with Q1 Labs and the company's QRadar solution has met and exceeded all customer expectations," said Louise Cooke, director of vendor development, at Integralis, a global information risk management solutions provider and a Q1 Labs channel partner. "QRadar's total automation, seamless interoperability, and the ability to upgrade from a base solution mean that our customers' requirements are met with a comprehensive, one-vendor solution from Q1 Labs versus a number of different and potentially counter intuitive solutions possible from other vendors."

    About the Magic Quadrant

    The Magic Quadrant is copyrighted 2009 by Gartner, Inc. and is reused with permission. The Magic Quadrant is a graphical representation of a marketplace at and for a specific time period. It depicts Gartner's analysis of how certain vendors measure against criteria for that marketplace, as defined by Gartner. Gartner does not endorse any vendor, product, or service depicted in the Magic Quadrant, and does not advise technology users to select only those vendors placed in the "Leaders" quadrant. The Magic Quadrant is intended solely as a research tool, and is not meant to be a specific guide to action. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

    About Q1 Labs

    Q1 Labs is a global provider of high-value, cost-effective network security management products. The growing company's flagship offering, QRadar SIEM, integrates previously disparate functions " including log management, network behavior analytics, and security event management " into a total security intelligence solution. QRadar SIEM provides users with crucial visibility into what is occurring with their networks, data centers, and applications to better protect IT assets and meet regulatory requirements. Q1 Labs is headquartered in Waltham, Mass., U.S.A., and the company's customers include healthcare providers, energy firms, retail organizations, utility companies, financial institutions, government agencies, and universities, among others. For more information, visit Q1Labs.com, Twitter.com/Q1Labs, or call 781-250-5800.

  • Recommended Reading: