PETACH TIKVA, Israel, July 19, 2021 /PRNewswire/ — Glassbox Ltd (TASE: GLBX), a leading software-as-a-service (SaaS) provider of digital experience analytics, announced strong growth in annual recurring revenue (ARR) for second quarter of 2021, surpassing approximately $37 million.
“Glassbox had a strong finish to the second quarter with a significant increase in ARR. We are proud to have added over 30 new customers in the first half of 2021 and are working to continue our rapid growth toward the company’s stated goal of reaching $100 million in ARR in 2 – 4 years,” said CEO Yaron Morgenstern.
As a high-growth SaaS company, Glassbox measures its progress in terms of ARR among other things. The company enjoyed strong growth in the first half of 2021, including a 160% year-over-year increase in net incremental ARR in the first half of 2021 compared to the corresponding period last year on a pro forma basis. At the end of the second quarter, Glassbox ARR stood at approximately $37 million compared to approximately $35 million as of the end of the first quarter of 2021. As part of its successful initial public offering (IPO) on the Tel Aviv Stock Exchange in June, the company revealed its goal of reaching approximately $100 million in ARR within 2-4 years from the date of the prospectus.
The company will report full H1-2021 results during August in accordance with standard Tel Aviv Stock Exchange (TASE) and Israeli Securities Agency (ISA) reporting requirements.
About Glassbox:
Glassbox empowers organizations to manage and optimize the entire digital lifecycle of their web and mobile customers. Leveraging unparalleled big data, behavioural analytics, session replay, free-text search, application monitoring, and machine learning capabilities, Glassbox enables enterprises to see not only what online and mobile customers are doing but also why they are doing it. Most importantly, Glassbox informs and facilitates action based on those insights that can lead to enhanced customer experience, improved conversion ratios, higher sales, agile IT troubleshooting, and also improved regulatory compliance and faster customer disputes resolution. Glassbox’s solutions are used by over 350 customers, including some of the world’s largest corporations in banking, insurance, telecom, retail, technology and more. Founded in 2010, the company employs more than 250 people in Israel, the United Kingdom, and the United States and operates in over 20 countries around the world. www.glassbox.com
Investor Relations Contact:
Shir Stopper
Gelbart Kahana
+972 50 772 0975
[email protected]
SOURCE Glassbox Ltd
