“Once again, it has been an extraordinary year by any measure. While others in our industry have stayed flat or grown in single digit percentages, Q1 Labs has grown 75 percent by focusing on our customers’ and partners’ needs,” said Shaun McConnon, CEO, Q1 Labs. “We have remained focused on execution as we have taken over leadership in the fast emerging Security Intelligence market. The demand for security software is growing, and Q1 Labs is taking market share by delivering the right solutions through the right channels to an increasingly large number of customers worldwide.”
"We believe network security spending, on both physical and virtualized assets, will continue to attract IT spending dollars in 2011. We anticipate leaders in network security will gain even more IT budget leverage by broadening their solutions from a single focus, and include more functionality to create a 'platform' with broad functionality. We believe Q1 Labs is broadening its platform, and expect them to maintain a leadership position in SIEM and at the same time become part of the broader network security discussion when IT budgets are set," said Scott Zeller, senior equity analyst, Needham & Co., LLC.
Industry Sales Success:
o 40 new critical infrastructure/energy customers
Salt River Project (SRP): the nation's third-largest public power utility and one of Arizona's largest water suppliers.
o 78 new government (federal, state, local ) worldwide customers
o 60 new financial services customers
Regulus Group: a 3i Infotech company and the premier provider of paper and electronic bill presentment and remittance processing solutions in the United States.
o 30 new healthcare customers
o 40 new manufacturing customers
Roto Frank: one of the world's leading window and door hardware manufacturers and significant supplier of roof windows, solar technology and loft-ladders.
o 150 new tech/telecom customers
Including the expansion of the most demanding log management use case in the industry: a global wireless carrier that has grown to 800,000 EPS in one year.