Nimsoft Confirms Speculation: Another Record Quarter
And that's good news for the broader managed services market.
Nimsoft CEO Gary Read back on July 7 hinted that the managed service platform provider had just completed another record quarter. Apparently, Read wasn’t exaggerating the situation.
And that’s good news for the broader managed services market.
According to a press release dated July 23, Nimsoft:
- Generated record financial results for the three months ending June 30, 2008.
- Recurring revenues grew 130 percent year over year while order backlog increased more than 75 percent over the same quarter last year.
- Overall bookings grew more than 85 percent as the company announced a record 41 new enterprise and MSP customers
- Nimsoft’s total customer base now exceeds 680 MSPs and corporate IT customers in 30 countries.
As a privately held company, Nimsoft doesn’t have to disclose its financial results. But the company has made a habit of sharing a few pieces of financial information each quarter. And in his personal blog, CEO Gary Read often pulls back Nimsoft’s financial curtain a bit.
Other privately held MSP platform providers are weighing if — or how — they should discussion financial momentum to customers. Kaseya, for one, just completed a strong quarter according to sources close to the company. However, Kaseya has avoided the temptation to toot its own horn this quarter.