When we first covered Endace earlier this year (see Endace ‘stellar growth’) we said we would keep an eye on this network security/packet capture/analysis company because it held a lot of promise, and its H1 results are proving the point.
Although this NZ-based but AIM-quoted company is still small in terms of revenue and profitability - revenue for the six months to 30 September 2011 was $18.6m (2010: $13.6m) and it made a break-even position before tax (2010: loss $1.5m) – revenue rose a impressive 37%.
We get the impression that this bud is preparing to bloom. Cyber security is gaining greater mindshare in general and Endace is benefitting, with a rising profile within the Western government intelligence community. But cyber security is not its only area of interest – it has tools to enable real-time visibility into network and application performance which is critical as the cloud continues to embrace the business world. So, two business drivers and it promises more to come.
It is still a small company and has the challenges of expanding its product set, staff, and pulling together and executing a sales and marketing plan to take it to the next stage. But so far so good.