Since early January, I’ve barely been able to keep a lid on my excitement. That was the day when I received the Q4’14 sales report from EMC finance, which confirmed that XtremIO had just made history by becoming the fastest-growing enterprise storage product ever – for the company, and likely, the industry.
Reporting the results internally to the XtremIO team was the proudest moment of my career. We had all worked tirelessly since introducing XtremIO in November 2013 to build the deal pipeline. And by last summer, we all shifted into a new gear most of us didn’t know we had as we could feel we were on record pace to close out the year on December 31st.
Now that we have all caught our breath, and EMC’s leadership has announced Q4 earnings for the entire company, I can spend a few minutes to recap the highlights of XtremIO’s blowout results:
- A near $300M quarter, with doubled Q/Q bookings. Q3’14 was fantastic at approximately $150 million. Then we doubled it again in Q4! On the earnings call last week, David Goulden, CEO of EMC Information Infrastructure, said XtremIO is “by far the fastest growing product in the history of EMC… this is because XtremIO has the right architecture…” What he didn’t mention on the call, but has said many times before, is that XtremIO’s success is also due to the brilliant execution of the best worldwide sales force in the information infrastructure business.
- XtremIO bested the competition. By a lot. Our internal analysts estimate the all-flash array market was approximately $645 million in Q4, and we won 45% of those bookings. We believe the next closest all-flash array product captured 15% of the market. There are many product-related reasons for our success, which we will cover in future blog posts.
- More than 40% of the Fortune 200 bought XtremIO. Dozens of large customers signed with XtremIO in Q4, helping us further establish dominance in the top of the market. Our mid-market penetration isn’t too shabby either: we now have 26% of the Fortune 1000. In addition, customers are buying larger XtremIO arrays and re-ordering from us frequently. We now have over 130 customers that have spent $1 million or more on XtremIO.
- A stellar 2015 ahead. Back in November 2014 when we celebrated XtremIO’s one-year anniversary, we announced a $500 million annualized run rate for Q3’14. We more than doubled that run rate in Q4’14. This year we have XtremIO 4.0 coming which will be simply amazing. We will continue to define the All-Flash Array market, continue to drive XtremIO’s growth, continue to make history, and continue to break records.
It’s been no small feat to achieve all of this growth. It takes an amazing product, brought to market at the right time, with the right team. I am so proud to be part of this effort, and so excited about the year to come.
I’ll report back on our market progress in a few months.