Vbrick Achieves Strong Financial Momentum, Propelling Growth and Success in 2023
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HERNDON, Va. – March 14, 2024 – Vbrick, the leading enterprise video solutions provider, announced today that its sales and financial performance in 2023 exceeded both company expectations and industry comparables. In so doing, Vbrick management believes the company is well-positioned to continue such momentum through 2024 and beyond.
“The second half of 2023 was a particularly strong period for Vbrick,” said Chairman and CEO, Paul Sparta. “The market adoption of our enterprise video platform validates Vbrick’s focus on providing a unified capability to capture, enhance, manage, integrate, and federate live and stored video at scale for some of the world’s most complex and demanding organizations. Even so, we believe that this substantial market is still in its early stages of adoption, as enterprises grapple with the challenge of seamlessly incorporating video into their business applications. Vbrick’s platform addresses this challenge by leveraging AI, security, performance, and rich features all within a single cloud-native code-base that is unmatched. We are excited to build on this momentum into 2024 alongside a fantastic and growing set of technology partners that share our vision.”
2023 Sales Highlights:
- Total ARR increased by 19% over the last 12 months
- New ARR sales increased by 80% in 2023
- LTV/CAC exceeded 4.5x for the year
“Over the past two quarters, we’ve experienced especially strong growth in the global enterprise segment across North America (NA) and Europe, the Middle East and Africa (EMEA). We have expanded our footprint within our current customer base and added new logos across multiple industries. Our sales and delivery teams have performed exceptionally well, contributing to this success.”
2023 Operational Highlights:
- Company operated at EBITDA breakeven
- Quarterly Gross Retention averaged 97.3%; Net Retention 103.5%
- ARR Gross Margin 80.4%; Overall Gross Margin 77.9%
“The enterprise video market is undergoing rapid change as organizations realize the tremendous value of integrating video pervasively across all business processes and functions. Enterprise video is now a strategic necessity, not merely a set of convenient features for select business units. Vbrick’s strong performance and growth stand in stark contrast to that of our legacy competitors who are experiencing negative or flat growth and are forecasting more of the same. This is clear evidence that our strategy, innovation, and execution are on the right path.”
About Vbrick
Vbrick is the leading Enterprise Video Platform (EVP) provider. Its end-to-end, cloud-native solution removes operational, performance, security, and integration barriers to adoption, unlocking the true power of video for the enterprise. The world’s most widely recognized brands rely on Vbrick’s proven unified streaming, video-on-demand, and content management capabilities to engage, empower, and transform their organizations at scale. To learn more visit vbrick.com.
Media Contact
Julie Kent
Senior Director of Corporate Communications
[email protected]
