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Carbonite Earnings: Small Business Cloud Backup Demand Accelerates
Carbonite (NASDAQ: CARB), which offers cloud backup solutions to consumers and small businesses, said Q4 2012 revenue jumped 37 percent to $23.7 million. Gross margins rose and the company's net loss shrunk.
The VAR Guy
February 5, 2013
David-Friend
Carbonite (NASDAQ: CARB), which offers cloud backup solutions to consumers and small businesses, said Q4 2012 revenue jumped 37 percent to $23.7 million. Gross margins rose and the company’s net loss shrunk. The growth comes as Carbonite — part of the Talkin’ Cloud Stocks Index — continues to expand and accelerate its channel partner program, which is attracting resellers and VARs that want recurring revenue opportunities. Here’s the background, including perspectives from CEO David Friend.Carbonite’s earnings (excluding non-recurring items) beat Wall Street’s expectations, and guidance for Q1 2013 is in line with consensus estimates, according to Yahoo Finance. The growth comes as numerous cloud-centric backup and disaster recovery companies attempt to engage channel partners.
In a prepared statement, Carbonite CEO David Friend said:
“During the fourth quarter, we achieved record revenue, realized ongoing operating leverage, and generated significant free cash flow, even after accelerating the payment of our annual cash bonuses into the quarter. As we enter 2013, the company will further invest in the small business market where our recent acquisition of Zmanda has bolstered our offerings with comprehensive backup and database archiving. While we continue to enhance our consumer value proposition, our small business offerings are experiencing faster growth, higher margins, and better retention and will be the key drivers of our growth going forward.”
Friend’s statements reinforce recent small business perspectives from David Hauser, Carbonite’s director, channel program. In a FastChat Video with The VAR Guy last week, Hauser described how the Zmanda acquisition will allow channel partners to focus on additional business needs — including database backup services.
Carbonite launched its reseller platform in June 2012, enabling partners to easily sell its three Home offerings (which, contrary to its name, is ideally suited for the SOHO and small-business space) and two Business offerings, as well as manage the customers they already have.
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