Accelerating recurring revenue to 80% of total revenue, with greater than 25% YoY ARR and 90% YoY subscription ARR growth
BeyondTrust’s new Identity Security Insights uncovers hidden privileges and attack vectors, empowering security teams to rapidly detect and address identity threats
BeyondTrust, the leader in intelligent identity and access security, announced record recurring growth in 2022 and continued innovation through expansion of its identity security platform, acquisition of new customers, and delivery of exceptional customer and employee experiences.
Key 2022 highlights include:
- Accelerating recurring revenue to 80% of total revenue, with greater than 25% YoY ARR and 90% YoY subscription ARR growth
- Driving record new business, adding nearly 1,600 new logos
- Expanding current solutions for more than 3,700 current customers with new products or add-ons
- Achieving gross retention of more than 95% and net retention more than 110%, along with an industry-leading Net Promoter Score (NPS) of 55 and Customer Satisfaction (CSAT) score of more than 95%
- Delivered profitable growth with Adjusted EBITDA (GAAP) in excess of 20%
The company also continued its innovation leadership, releasing advanced capabilities across the BeyondTrust Platform, centered on its new Identity Security Insights solution.
The explosion of disparate identities and access across organizations has created poor visibility of threats and a lack of centralized control. Security teams struggle to detect and respond to events that involve multiple identities and accounts. BeyondTrust Identity Security Insights will give security and IT teams visibility of all identities, privileges, and access across their estate so they can identify and remediate problematic overprivileged accounts and users, poor security controls, and suspicious activities from a single interface.
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Additional capabilities introduced in the past 12 months include:
- Password Safe: Expanded feature set supports more platforms and streamlines management of privileged credentials, including service accounts. In addition, new secrets management capability integrated into Password Safe enables credential and secrets management in a single solution.
- Privileged Remote Access: New features enhance productivity for technical workers and provide admins with greater control of secure access to their systems. An expanded integration with BeyondTrust Password Safe provides layered credential security over remote access for employees and third parties. Plus, new infrastructure access capabilities enable developers, cloud ops engineers, and technical staff to securely access critical resources.
- Remote Support: New administrative functions simplify user management, improve change control, and provide more granular security to enable integrated support for complex environments and large deployments.
- Privilege Management for Windows & Mac: The integration of a new Policy Editor and Azure AD, as well as numerous other enhancements, enable more efficient and streamlined workflows between endpoints, faster policy implementation, and improved access controls and auditing.
- Privilege Management for Unix & Linux, AD Bridge: A new SIEM connection enables admins to configure connections to Elasticsearch and Logstash, enabling admins to centrally search event log records with a unified view of multiple, diverse log server.
In addition to significant product releases, BeyondTrust demonstrated its ongoing commitment to serving the evolving needs of the market with these strategic initiatives:
- Achieving FedRAMP Moderate “In-Process” Status: Obtaining a FedRAMP authorization not only strengthens BeyondTrust’s capacity to serve federal government agencies but also exemplifies the company’s dedication to the cloud as a deployment model.
- Offering all identity and access security solutions in the AWS Marketplace: Customers benefit from a simplified procurement process through AWS Marketplace with flexible payment terms, consolidated billing, enterprise discounts and more.
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In 2022, BeyondTrust’s significant revenue achievements, as well as product and market leadership momentum, were recognized by leading analysts and media organizations:
- Gartner® Peer Insights™ 2022 Customers’ Choice for Privileged Access Management (2nd year in a row)
- Leader in 2022 Gartner Magic Quadrant for Privileged Access Management (4th year in a row)
- Leader in KuppingerCole 2022 Leadership Compass for Privileged Access Management (4th year in a row)
- Inc. 5000 2022 List of America’s Fastest-Growing Private Companies (2nd year in a row)
- JMP Securities Elite 80 List of Hottest Privately Held Cybersecurity & IT Infrastructure Companies
- 2022 ‘ASTORS’ Homeland Security Award, Best Privileged Access Security Solution
- CRN’s 2022 Channel Chiefs List
BeyondTrust also remained committed to delivering an exceptional employee experience in 2022, and continued to grow its talented team, expanding to 1500+ employees globally and promoting 270+ employees across the organization. BeyondTrust was recognized in 2022 by a remarkable number of workplace awards globally, including:
- Fortune Magazine 2022 Best Workplaces in Technology™
- Fortune Magazine 2022 Best Workplaces for Parents™
- Fortune Magazine 2022 Best Workplaces for Women™
- Inc. Magazine 2022 Best Workplaces
- UK Best Workplaces™ 2022 by Great Place to Work®
- Nova Scotia 2022 Top Employer
“Securing identities and access is critical to combatting today’s cyberthreats. We continue to invest in innovation to provide visibility into all identities and access pathways, detect advanced identity threats, and automatically remediate gaps and adjust policies,” said Janine Seebeck, CEO, BeyondTrust. “I’m extremely proud of our employees and partner ecosystem for helping our customers address their biggest cybersecurity challenges, while also delivering an exceptional customer and employee experience.”