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what are discussed Company with the involve contain risks FalconStor's results that These cause consider the Exchange and discussion forward-looking to and uncertainties and would to press filed statements. all Forms These on reports Commission actual from Company's XX-Q like uncertainties participants So, the forward-looking in differ today's statements. XX-K, issued that advise may some statements materially forward-looking the risks reports and today. release and other in Securities could
discussions of of earnings. A be business has www.falconstor.com. close financial at information non-GAAP During today, www.falconstor.com are to website GAAP the released there that the XXXX release posted results Investor its today's on reconciliation Copies website on FalconStor's and FalconStor's under of available supplemental the FalconStor been earnings at will results. non-GAAP After include Relations. call, QX
With time Okay. in drivers. XXXX to ahead let’s by pleased call. it. strategic launch the I we team the as our aligned it. really am today We appreciate participate to have key taking four for progress that, Thanks everyone in efforts into FalconStor go your and made our
reinstatement product will the innovations by over generating by storage drive long-term and growth retention expanding line consistent decade. growth on and new, industry-leading next our First, believe extensible flexible our creating we that data and archive
operating to ensure to consistent most largest and then – important enterprise our cases, replication operating on third, are finally, sharpening sorry. focus have demonstrated and focus to our investment commercial our are customers. regions growth win. continuity-driven related use delivering And increasing business profitabilities to profitability, we ability R&D our data where that strategic on commercial Secondly, and focused and which the those on products Then to we
grow compounded Our products XXXX. at reported three growth a at rate $XX.X market to are being growth This predicted of by through billion driven be by pointed IDC annual at a factors. sized to is approximately and XX.X%
First, form is email, databases, amount devices video, traditional the or generated documents, technologies the digital in in an or by of IoT. what of audio digital application various explosion and data internet-connected
And legal second on traditional in a storage data or of be datacenter, a standing compliance. in retain to data periods the public ever private and cloud dramatic then regulatory and whether options, for increase cloud third, lengthy to ensure located the need time finally, they
in driving captured enterprises this capacity and growth data manage data. stored securely the dramatic and is of This for to the intelligently need cost-effectively,
the related directly managed In to IDC, to by XX% fact, up an according routine of to enterprise archives. data data is
ensuring and for while the XX% cloud technology archive Object Our stringent to storage storage met existing reduced and windows storage leverage the policies as procedures, Storage are improved such enterprise most IBM Cloud Wasabi, Hitachi up the Content data to and AWS, data Platform, alternatives is are archive available efficiency. capacity allows by
value business that delivers enterprise excited customers. FalconStor this the by its am and to I market complex
have. we full and phone will of review then for open year of may financial of and a provide balance the elaborate questions the initiatives, For detailed each any call, strategic key QX you that today’s results, these on line
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across two the of key utilized globe enterprise are protection. and and areas data address managed by products Our enterprises providers service
and data secondly, retention reinstatement, and business archive long-term First, continuity-driven then replication.
sourced hardware, software-defined, software cloud, our solutions products which and investments. to means over be customers technology Our our maximum leverage our and giving that existing data-agnostic allows are hardware
intelligently not leveraged and improve key assessability assessability portability, enterprise in modern is where enables security, facility drive customers our dramatically improved protected, the technologies integration world is through our advantage. but data. learning, data Our innovative into product their design modern competitive also and of cloud-based to This only
long-term reinstatement our solution. Tape or we Virtual FalconStor VTL and Library Within traditionally retention sold have segment our
more am minutes, archive our dramatically of innovations cost, that here I StorSafe, long-term excited customers and in that data However archive archive infrastructure enterprise to archive announce security deliver on both modernize we our these launch products shortly improving few assessability. their that and operations their called while product will enable reduce to and next-generation storage portability
continuous our our business solution. these or CDP products segment, platform. licensed FREESTOR Storage are together been solution data through and could within products Then or as available Network core have Traditionally, replication be products our our our NSS data Server standalone or continuity-driven protection
achieve recovery storage optimizing These products to customers enterprise our point and while advanced investments through storage hardware superior recovery enable time objectives, virtualization.
these to We two within future. segments focus product our continue foreseeable the place forward going for will
let’s So, at now look each a if of in a though more detail we bit take these can.
enterprise legacy and early All associated right, to introduced one Tape innovative processes. allowing product backup was Virtual It XXXXs. data software without we enterprise Library customers protection and cumbersome in emulate this libraries and physical for to reinforce first our their archive-related archive software replace solution providers the to introduce the replace tape of
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They tape private our all which into advance physical or seamlessly now able leverage virtual archive deduplication cloud-based security, emulation, data storage, VTL solution. in data integrated are public sophisticated tape also and
to dedicated performing VTL the providing enterprise highest with product customers industry. are We the in our
is closest that could testing hardware that closest executed competitor on As competitor. that required which and by we demonstrated our solution cost is the of one-third the to such, our be suggest our than independent product XX% faster VTL has
archive required speed, reduced redundant data, the as eliminating them amount integrated the as storage be XX%. Beyond engine. our allowing benefit by our customers be shared archived archive reduce by enabling much also needs the processing capacity archived data data data archive deduplication to from to dramatically of that we to data through By are can
technology archive while mandates, to customers our reduce eliminating of subject software volume storing hardware significantly and the enterprise in. protection growing the cost data ever Our vendor to lock of data allows long-term
far as datacenter. I of within excited forced choices as StorSafe product. enterprise store been arrays launch installed archived this had data an storage we Now, and as Traditionally, have their mentioned, to physical limited or to are the announce internal have very tape on in goes,
securely these storage wide including leverage Our StorSafe newest management ultra-efficient and array cost-effectively enterprises and traditional and a storage data of and called storage most innovative cloud-based and scalable product long-term archive environments. limitations to enables breaks options
sophisticated StorSafe archive proven integration physical source for backup enterprises and and availability scheduled our year, emulation like and legacy processes. The seamless general this software within tape solution VTL provides
In addition, technology. advanced it continues data our to utilize deduplication
leveraging and long-term However, persistent archive data portability, to especially integrity it assessability, patent entirely industry archive the technology storage to to innovative enable as level pending new an StorSafe archive and takes by standard dramatically long-term security storage, our integrity container storage use. relates StorSafe improves optimization data solution validation, multi-cloud
our and result, storage access. spectrum effectively available storage efficient archive customers made a is of data enterprise confidently to to data archive options utilize, ensuring security our As full any environment, while essentially
storage significantly compliance storage optimization cost We’ve reduce mandated decade. StorSafe and archive through the regulatory or next to long-term redefined and and data legal assessability for archive long-term designed
of against data short-term disaster. routinely data, archive to by long-term or enterprises backups our to loss natural addition or copies protect maintain generated data various In applications user
way journaling time. performed – implemented beyond local, a aware point the remote organizations continuous replication agents combining Our CDP in model they data CDP or transaction, once display moving protection functions, CDP data cost-effective to data recover and that allows backup any to reinvents application and in back unified and technology combines recovery to and snapshot effectively recover the continuing recent enables customers most at solution
a data the a failure. and for of minutes online applications high numerous CDP recovery complex reliable instant Oracle, business including and business and delivers applications other protects application-specific availability after stability ensuring even business for back performance applications environment. CDP most Microsoft, bringing large-scale SAP, matter in data
the Finally, data of in amount available the has expanding an enterprises a data ever adequate challenge of organization storage. managed ensuring continual creates by capacity
environments and and virtualization erase, existing continuity a solution enables data supporting in vendor FalconStor provisioning scalable, storage lock fast, secure disc and third-party migration. essence storage NSS available is providing data business in highly boundaries and heterogeneous storage in that eliminates
data storage designed be is operations. complicated, between disruptive data time-consuming any to of and enterprise meet different can complex, business to platforms the storage moving NSS to needs
to Our core data mobility. storage, provides approach technology data our non-disruptive core a storage virtualization
evolving NSS, storage it introduce data simple older move a as from becomes to – capacity in where to – well and as to tiers. to changing requirements With capacity performance platforms operation enterprises data mandates. respond as protection platforms or to storage to This allows to new newer
solution Our archive streamline set a are usability products long-term and by business of that technologies underlying overall continuity-driven complemented performance. and core
version expanded are As in business simply a prior example, this managed management to of unified which XXXX, we of an prior console, currently year, products. continuity-driven process our the to launching our prime
calling and be data all our products licensing. test gives Our expanded business enterprise the may additional long-term providers from we continuity-driven console are though, StorSight currently centralized to customers and FalconStor easily manage one to point replication, ability archives administer and management they service not which
Our relative key a StorSight of are also utilized production. each full as analytics StorSight product, includes multitenancy array customer chargeback. in such user to and to console provider managed functionality provides service our deep FalconStor they as
All right.
reinstatement As our to retention our industry-leading first during long-term product-line. was initiative XXXX expand and strategic key mentioned archive earlier,
and go-to-market path platforms that product path have reviewed replacement. As i, now enterprises these last technology go-to-market part of secondly, Protect Linux, include call such IBM paths, IBM six we this our as which the we adverse with initiative, earnings Windows, large expanded Tier during include
Sepaton the replacement. finally and of leverage the EMC’s replacement, legacy data Third, Content Dell Platform upgrades, Hitachi HCP, or fifth, fourth, Hitachi domain tape then,
XXXX. be These to expanded quite proven trials have in effective go-to-market
product the we initiatives grew XX% our exclude In a China, began by we XX% sales – be XX our strategic XXXX through fact, and mentioned prioritize XXXX, - when in by XX%, looking global long-term during we second which on the here sorry chart slide, grew XXXX middle grew earlier. key compared to to by intentionally at
sharpen a reduction focus product our product within when sales and to As the third our key we R&D exclude China. XX% reduction created global continuity-driven relates to a our business strategic XXXX in commercial it initiative, XX% and our efforts line-up
continuing to our stabilizing our sales long-term product we we in through area, expect growth As sharpen line-up. focus this begin drive archive our to segment this continue while to of
we across you increased on left, entire China. X% across graph when exclude look sales, in product sales by the when you all product all globe lines Finally, we all line-up XXXX see at – the product the that
am So this I XXXX performance in excited XXXX. by this building on I to continue pleased in and am momentum
unique technology entrants comprehensive powerful, are by our and innovations to continue space in newer the customers this will or our upon nearly innovative. build unmatched data solutions we decades advantages, protection FalconStor’s and that two of know
are consistent profitability. focusing Finally, we attention our delivering on operating strategic
as a And expenses XXXX We During we’ve the quarter, compared plan as for reduced X.X% operating anchored to income operating whole. then positive XXXX. operations. cash delivered we on GAAP delivering fundamentally, XXXX $XXX,XXX of by flow our
I review final it it But comment Brad turn to into looks that’s it One some make and like I over for for make okay. didn’t his that’s before deck why reason. the I’ll
relates comment a just quick make as me Let it to Coronavirus.
in worked we noted as we efficiency So, internal our to last improve operating times previous hard have earnings years. over dramatically the calls, several two
we moved efforts, systems our these the to work key our majority of have to part enabled internal have operating from cloud of home. employees the and As
the February weeks that now, work health this to year, operating from ago XXth about their home protect this Given families. of two and globe across our employees over of the flexibility, little on their suggested we health the
we Today, FalconStor Coronavirus not or pandemic. aware caused negative to commercial of the are by global any operating impacts
the we this could their with deal new of employees. with impact we health situation customers and as deal However, commercial prospects and that work short-term our protect experience to also realize closings
keep for can to will on We and close obviously the - best as very situation be. it a pray eye outcome keep continue this possibly
right. All
provide over to So at and more our of review QX detailed a turn results. full I year it Brad? point, this will financial to XXXX Brad
