Latest news with #ToddBrooks
Hamilton Spectator
22-05-2025
- Business
- Hamilton Spectator
Fresche Solutions and FalconStor Partner to Modernize IBM i Data Backup and Management
SAN FRANCISCO, May 22, 2025 (GLOBE NEWSWIRE) — Fresche Solutions, a global leader in AI-powered IT modernization, announces a strategic partnership with FalconStor Software, a leader in IBM Power Systems backup optimization. Together, the companies will deliver modern, secure, and scalable backup and recovery solutions for IBM i environments in the cloud. As part of the collaboration, FalconStor's StorSafe® solution will be integrated into Fresche's managed services for IBM Power Virtual Server (PowerVS), providing enterprises with a cyber-resilient, cost-effective alternative to legacy tape-based backup systems. The joint solution is designed to optimize backup and archive operations in hybrid cloud deployments by: 'Our collaboration with FalconStor strengthens our ability to help IBM i customers modernize with confidence,' said Lief Morin, GM, Managed Services at Fresche Solutions. 'Together, we're delivering solutions that align with cloud-first strategies while maintaining enterprise-grade resilience and security.' Key Benefits of FalconStor StorSafe®: 'This partnership is a natural fit,' added Todd Brooks, CEO, FalconStor. 'Fresche's leadership in IBM i modernization and managed services complements our mission to provide robust, efficient, and future-ready data protection.' To learn more about how Fresche and FalconStor optimize IBM i backup, visit or . About Fresche Solutions Innovators in AI-powered IT modernization, Fresche manages and maximizes the value of IBM i business-critical systems to reduce technical debt. Our market-leading IP and proven solutions in Modernization, AI & Data Analytics, KTLO, and Cloud Managed Services have earned the trust of global leaders from 2200+ companies. Reimagine your IT challenges into future growth and innovation with Fresche Solutions. About FalconStor FalconStor Software, Inc. (OTC: FALC) is a trusted leader in data protection, enabling enterprises to modernize backup and archiving across hybrid environments. Its StorSafe platform helps customers optimize storage usage, protect against ransomware, and streamline cloud adoption, especially in IBM ecosystems. Media Contact: Fresche Solutions Kimberley Hernandez Corporate Marketing Manager Fresche Solutions Inc. FalconStor Vicki Grey Head of Marketing FalconStor Software Inc. A photo accompanying this announcement is available at
Business Wire
07-05-2025
- Business
- Business Wire
FalconStor Software Announces First Quarter of 2025 Results
AUSTIN, Texas--(BUSINESS WIRE)--FalconStor Software, Inc. ( FALC), a trusted data protection leader modernizing data protection and intelligence for the hybrid cloud world, today announced financial results for its first quarter of 2025, which ended on March 31, 2025. With our expanding hybrid cloud footprint, focused innovation, and consistent profitability, we remain well-positioned to drive durable growth in 2025 and beyond. Share 'We're pleased to report solid total revenue growth and strong hybrid cloud ARR expansion in Q1, reflecting our continued momentum in the IBM ecosystem,' said Todd Brooks, CEO of FalconStor Software. 'Hybrid cloud ARR run-rate grew 65% year-over-year, fueled by increased sales in IBM Power Virtual Server expansion, Kyndryl/Skytap deployments, on-prem hybrid cloud implementations, and MSP adoption. 'This quarter also marked the launch of FalconStor Thomas™, our IBM watsonx-based virtual data protection assistant, now in use by dozens of IBM partners in more than 20 countries. By enabling real-time collaboration with IBM partner sellers and technical architects — in their native languages — Thomas dramatically improves our ability to scale sales across the global IBM ecosystem. 'With our expanding hybrid cloud footprint, focused innovation, and consistent profitability, we remain well-positioned to drive durable growth in 2025 and beyond.' First Quarter 2025 Financial Results Hybrid Cloud ARR Run-Rate: 65% increase trailing twelve months Ending Cash: $3.3 million, compared to $2.9 million in the first quarter of fiscal year 2024 Total Revenue: $2.5 million, compared to $2.3 million in the first quarter of fiscal year 2024 Total Operating Expenses: $2.1 million, compared to $1.9 million in the first quarter of fiscal year 2024 Non-GAAP EBITDA: $0.1 million, compared to $0.1 million in the first quarter of fiscal year 2024 GAAP Net Income (Loss): $0.1 million, compared to $(0.1) million in the first quarter of fiscal year 2024 'As we continue to focus on growth, innovation, and delivering excellent customer service, we remain disciplined in managing expenses and driving operational efficiency to maintain strong financial health and create the stability needed for sustainable, long-term growth,' said Vincent Sita, FalconStor CFO. Non-GAAP Financial Measures The non-GAAP financial measures used in this press release are not prepared in accordance with generally accepted accounting principles and may be different from non-GAAP financial measures used by other companies. The Company's management refers to these non-GAAP financial measures in making operating decisions because they provide meaningful supplemental information regarding the Company's operating performance. In addition, these non-GAAP financial measures facilitate management's internal comparisons to the Company's historical operating results and comparisons to competitors' operating results. We include these non-GAAP financial measures (which should be viewed as a supplement to, and not a substitute for, their comparable GAAP measures) in this press release because we believe they are useful to investors in allowing for greater transparency into the supplemental information used by management in its financial and operational decision-making. The non-GAAP financial measures exclude (i) depreciation, (ii) amortization, (iii) restructuring expenses, (iv) severance expenses, (v) board expenses, (vi) stock based compensation, (vii) non-operating expenses (income) including income taxes and interest & other expenses (income). For a reconciliation of our GAAP and non-GAAP financial results, please refer to our Reconciliation of Net Income (Loss) to Adjusted EBITDA presented in this release. Please click this link for accompanying financial charts. About FalconStor Software FalconStor is the trusted data protection software leader modernizing disaster recovery and backup operations for the hybrid cloud world. The Company enables enterprise customers and managed service providers to secure, migrate, and protect their data while reducing data storage and long-term retention costs by up to 95%. More than 1,000 organizations and managed service providers worldwide standardize on FalconStor as the foundation for their cloud first data protection future. Our products are offered through and supported by a worldwide network of leading managed service providers, system integrators, resellers, and original equipment manufacturers. FalconStor and FalconStor Software are trademarks or registered trademarks of FalconStor Software, Inc., in the U.S. and other countries. All other company and product names contained herein may be trademarks of their respective holders. Links to websites or pages controlled by parties other than FalconStor are provided for the reader's convenience and information only. FalconStor does not incorporate into this release the information found at those links nor does FalconStor represent or warrant that any information found at those links is complete or accurate. Use of information obtained by following these links is at the reader's own risk.
Yahoo
26-02-2025
- Business
- Yahoo
FalconStor Software Announces Fourth Quarter and Full Year 2024 Results
Strong Hybrid Cloud ARR Growth and Profitability 91% year-over-year increase in total hybrid cloud ARR run-rate for full year 2024 12% EBITDA for full year 2024 7% net income for full year 2024 AUSTIN, Texas, February 26, 2025--(BUSINESS WIRE)--FalconStor Software, Inc. (OTC: FALC), a trusted data protection leader modernizing disaster recovery and backup for the hybrid cloud world, today announced financial results for its fourth quarter and full year 2024, which ended on December 31, 2024. "Our 2024 results highlight FalconStor's continued transformation into a high-growth, high-margin recurring revenue business," said Todd Brooks, CEO of FalconStor Software. "While total revenue declined versus 2023 with our continued aggressive shift away from one-time perpetual licenses, we achieved a 91% increase in Hybrid Cloud ARR run-rate and now derive 80% of total revenue from recurring sources, providing long-term stability and predictability. Our disciplined execution has enabled us to maintain strong profitability for the second consecutive year, with 12% EBITDA and 7% net income, positioning us to increase strategic investment in the launch of new IBM watsonx-based AI solutions in 2025. As our recurring business continues to scale, our partnerships with IBM, global IBM-focused partners like Kyndryl/Skytap and Converge/Google Cloud, and regional IBM partners, remain the core drivers of our growth. In 2024, we deepened our collaboration across IBM Power, Storage, and watsonx business units strengthening our role in IBM's hybrid cloud ecosystem. We are well positioned for 2025 and beyond to generate total revenue growth and continued levels of healthy profitability as we bring new innovations to market, helping enterprise customers modernize and optimize their data protection strategies." Fourth Quarter 2024 Financial Results Hybrid Cloud ARR Run-Rate: 91% increase compared to fourth quarter of fiscal 2023 Ending Cash: $2.5 million, compared to $3.4 million in the fourth quarter of fiscal year 2023 Total Revenue: $2.8 million, compared to $3.7 million in the fourth quarter of fiscal year 2023 Total Cost of Revenue: $0.5 million, compared to $0.5 million in the fourth quarter of fiscal year 2023 Total Operating Expenses: $2.1 million, compared to $2.1 million in the fourth quarter of fiscal year 2023 Non-GAAP EBITDA: $0.4 million, compared to $1.2 million in the fourth quarter of fiscal year 2023 GAAP Net Income: $0.2 million, compared to $1.0 million in the fourth quarter of fiscal year 2023 Full Year 2024 Financial Results Total Revenue: $10.4 million, compared to $11.6 million during the full year of 2023 Total Cost of Revenue: $1.7 million, compared to $1.6 million during the full year of 2023 Total Operating Expenses: $7.9 million, compared to $8.5 million during the full year of 2023 Non-GAAP EBITDA: $1.3 million, compared to $2.0 million during the full year of 2023 GAAP Net Income: $0.7 million, compared to $1.0 million during the full year of 2023 "We continue to exercise disciplined expense management and operational efficiency, while pursuing growth and innovation," said Vincent Sita, FalconStor CFO. Non-GAAP Financial Measures The non-GAAP financial measures used in this press release are not prepared in accordance with generally accepted accounting principles and may be different from non-GAAP financial measures used by other companies. The Company's management refers to these non-GAAP financial measures in making operating decisions because they provide meaningful supplemental information regarding the Company's operating performance. In addition, these non-GAAP financial measures facilitate management's internal comparisons to the Company's historical operating results and comparisons to competitors' operating results. We include these non-GAAP financial measures (which should be viewed as a supplement to, and not a substitute for, their comparable GAAP measures) in this press release because we believe they are useful to investors in allowing for greater transparency into the supplemental information used by management in its financial and operational decision-making. The non-GAAP financial measures exclude (i) depreciation, (ii) amortization, (iii) restructuring expenses, (iv) severance expenses, (v) board expenses, (vi) stock based compensation, (vii) non-operating expenses (income) including income taxes and interest & other expenses (income). For a reconciliation of our GAAP and non-GAAP financial results, please refer to our Reconciliation of Net Income (Loss) to Adjusted EBITDA presented in this release. Please click this link for accompanying financial charts. About FalconStor Software FalconStor is the trusted data protection software leader modernizing disaster recovery and backup operations for the hybrid cloud world. The Company enables enterprise customers and managed service providers to secure, migrate, and protect their data while reducing data storage and long-term retention costs by up to 95%. More than 1,000 organizations and managed service providers worldwide standardize on FalconStor as the foundation for their cloud first data protection future. Our products are offered through and supported by a worldwide network of leading managed service providers, system integrators, resellers, and original equipment manufacturers. FalconStor and FalconStor Software are trademarks or registered trademarks of FalconStor Software, Inc., in the U.S. and other countries. All other company and product names contained herein may be trademarks of their respective holders. Links to websites or pages controlled by parties other than FalconStor are provided for the reader's convenience and information only. FalconStor does not incorporate into this release the information found at those links nor does FalconStor represent or warrant that any information found at those links is complete or accurate. Use of information obtained by following these links is at the reader's own risk. View source version on Contacts CONTACT INFORMATION For more information, contact:Vincent SitaChief Financial OfficerFalconStor Software CONTACT US AROUND THE GLOBE Corporate Headquarters 111 Congress AvenueSuite 500Austin, Texas 78701Tel: +1.631.777.5188salesinfo@ Europe Headquarters GERMANYLandsberger Straße 30280687 München, Germanysalesemea@ Sign in to access your portfolio
