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Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

Glassbox Reports Strong Increase in ARR, Revenue Growth as Customer Base Expands

August 16, 2021 GMT

NEW YORK--(BUSINESS WIRE)--Aug 16, 2021--

Glassbox (TASE: GLBX), the leading provider of digital experience analytics for web and mobile applications, today announced its financial results for the first half of 2021. The company recorded an Annual Recurring Revenue (AAR) of $37 million, an increase of roughly 32% from cloud ARR and 25% in total ARR compared to the same timeframe from 2020. The company also reported adjusted revenues (non-GAAP) of $17.7 million for the first half of 2021, an increase of over 20% from the pro-forma numbers of first half of 2020.

“We’re pleased to report a strong first half, which places Glassbox as a market leader in its field,” said Yaron Morgenstern, CEO, Glassbox. “This is due to increased market demand for our solution, growth in the proportion of new customers in a wide range of verticals and geographies, and the company’s ability to retain and expand operations with existing customers. We are committed to the continued growth of Glassbox and will work to meet our aggressive goals in the coming months.”

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Glassbox acquired SessionCam in October of 2020, increasing its activity in online commerce, government services, and digital education sectors. After the acquisition, the company’s ARR from customers in Europe increased to 22% of the total revenue, while medium-customer ARR increased to 34%.

Glassbox also reports impressive customer retention globally, both in large enterprise and mid-size enterprise, and has added 30 new customers in the first half of 2021. In addition, during this period, the company signed strategic partnerships with Qualtrics and Microsoft that will provide additional sales channels.

In June 2021, Glassbox announced the successful completion of its initial public offering on the Tel Aviv Stock Exchange (TASE), raising $100M with a post listing valuation of close to half a billion U.S. dollars.

To further the company’s growth, Glassbox has approximately $68 million allocated between cash balance and deposits for research and development, marketing, sales, and strategic operations, including mergers and acquisitions. The company plans to move to a quarterly reporting method of its financial results for the rest of the year.

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To learn more, visit www.glassbox.com.

About Glassbox:

Glassbox empowers organizations to create frictionless digital journeys for their customers. Our digital experience analytics platform works real-time across mobile apps and the web to accelerate loyalty and growth. Through AI-driven visualization and analytics tools, Glassbox enables teams to prioritize customer experience and digital product enhancements from a single collaborative system. From IT (Information Technology) and product management to marketing and compliance, teams can understand user struggles, visualize the customer journey, and optimize every step. Hundreds of enterprises across multiple industries have chosen Glassbox for easy, secure, and private cloud-based deployments.

View source version on businesswire.com:https://www.businesswire.com/news/home/20210816005438/en/

CONTACT: Francesca Pezzoli

Francesca.pezzoli@glassboxdigital.comKat Knox

Glassbox@matternow.com

KEYWORD: UNITED STATES NORTH AMERICA NEW YORK

INDUSTRY KEYWORD: DATA MANAGEMENT TECHNOLOGY OTHER TECHNOLOGY MOBILE/WIRELESS SOFTWARE NETWORKS INTERNET

SOURCE: Glassbox

Copyright Business Wire 2021.

PUB: 08/16/2021 09:49 AM/DISC: 08/16/2021 09:49 AM

http://www.businesswire.com/news/home/20210816005438/en