AlgoSec Celebrates Record Quarter in Q4 2019 and Another Record Year of Strong Growth and Profitability in 2019
Leader in network security management solutions reports strong year-over-year product revenue growth of 43% in Q4 2019 and 26% in full year 2019
RIDGEFIELD PARK, N.J., Feb. 18, 2020 (GLOBE NEWSWIRE) -- AlgoSec, the leading provider of business-driven network security management solutions, has announced strong growth in product revenues and total revenues in 2019.
For the full year, AlgoSec reported a profitable 2019 with:
The company also concluded its best-ever quarter to date in Q4 2019:
“2019 was a very successful year across every aspect of our business,” said Yuval Baron, AlgoSec Chief Executive Officer. “We exceeded our sales targets, strengthened cashflow and won nearly 100 new customers with several million dollar-plus contracts. In addition, Cisco added AlgoSec to its Global Price List, we strengthened our channel partnerships globally, and expanded our senior management team. The demand for our solutions is accelerating as we become increasingly mission-critical to our customers’ business.”
AlgoSec introduced several key innovations in 2019 to help enterprise customers address their network security management challenges. These include:
New industry partnerships
Strengthened executive management team
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