BeyondTrust solidifies leadership position continuing to deliver innovation and profitable growth in 2023

| Source: BeyondTrust BeyondTrust

  • Accelerated recurring revenue to greater than 80% of total revenue while delivering profitable growth exceeding the "Rule of 40"
  • Released advanced capabilities across the BeyondTrust Platform in 2023 to provide customers with unmatched visibility and control in their relentless battle against sophisticated cyber threats

ATLANTA, Feb. 06, 2024 (GLOBE NEWSWIRE) -- BeyondTrust, the leader in intelligent identity and access security, today announced significant recurring growth in 2023 and continued innovation through expansion of its identity security platform, acquisition of new customers, and delivery of exceptional customer and employee experiences.

Key 2023 highlights include:

  • Accelerating recurring revenue to greater than 80% of total revenue, with approximately 40% YoY subscription ARR growth
  • Driving substantial new business, adding nearly 1,500 new logos
  • Expanding current solutions for about 3,700 current customers with new products or add-ons
  • Achieving gross retention of more than 95% and net retention rate of more than 110% for implied renewals, along with an industry-leading Net Promoter Score (NPS) of 62 and Customer Satisfaction (CSAT) score of more than 95%        
  • Delivered profitable growth with Adjusted EBITDA (GAAP) in excess of 25%, exceeding the “Rule of 40”

To drive growth and continued innovation in the identity security market, BeyondTrust has added two new members to the Executive Leadership Team:

  • Brett Theiss joined BeyondTrust as Chief Marketing Officer
  • Sean Cashin was appointed Chief Customer Officer

Demonstrating continuing innovation leadership, BeyondTrust released advanced capabilities across the BeyondTrust Platform in 2023 to provide customers with unmatched visibility and control in their relentless battle against sophisticated cyber threats. The launch of Identity Security Insights delivers industry-leading visibility, threat detection, and proactive security recommendations across the entire identity estate. Identity Security Insights consolidates the capabilities of PAM, CIEM, and ITDR, providing organizations with a robust toolset to preempt and neutralize identity-driven threats, exemplified by the recent discovery of the Okta Support breach.

Additional capabilities introduced in the past year include:

  • Privilege Management for Windows and Mac: A new level of automation has been added to revolutionize the upgrade process, with a new auto update feature that helps customers drastically reduce the amount of manual work required from their IT and security teams.

  • Password Safe: The introduction of a new Web Portal provides customers with a more intuitive, streamlined, and productive user experience to improve performance and accessibility.

  • Workforce Passwords: This new add-on capability for Password Safe helps customers manage business application user passwords and non-SSO applications without additional complexity and with the enterprise-level security.

  • Privileged Remote Access: The introduction of Cloud Infrastructure Access functionality, including ephemeral Jump clients, enables developers, cloud ops engineers, and technical workers to securely and more easily access critical cloud platforms, applications, and data.

  • Remote Support: Real-time chat translation is now available via an integration with AWS Translation Services, enabling reps to provide localized support chat to their customers in over 75 languages in real time, without a language barrier.

  • Privilege Management for Unix/Linux & Active Directory Bridge: The introduction of support for cached policies and logging enables organizations with Linux workstation deployments to keep users productive and estates secure, regardless of the presence of unreliable connectivity.

In addition to significant product releases, BeyondTrust demonstrated its ongoing commitment to serving the evolving needs of its customers with several security-focused initiatives:

In 2023, BeyondTrust’s significant financial achievements, as well as product and market leadership momentum, were recognized by leading analysts and media organizations:

BeyondTrust is committed to delivering an exceptional employee experience, and continued to grow its talented team, expanding to 1500+ employees globally and promoting 180+ employees across the organization. BeyondTrust was recognized in 2023 by multiple workplace awards globally, including:

“We achieved significant momentum in 2023, driven by robust revenue growth, product expansion, and industry and partner recognition,” said Janine Seebeck, CEO, BeyondTrust. “I take great pride in our employees and partner ecosystem for their dedicated efforts in service of our customers, and I am excited for the year ahead as we continue to help our customers solve their identity security challenges.”

About BeyondTrust

BeyondTrust is the worldwide leader in intelligent identity and access security, enabling organizations to protect identities, stop threats, and deliver dynamic access. We offer the only platform with both intelligent identity threat detection and a privilege control plane that delivers zero-trust based least privilege to shrink your attack surface and eliminate security blind spots.

BeyondTrust protects identities, access, and endpoints across your organization, while creating a superior customer experience and operational efficiencies. We are leading the charge in innovating identity-first security and are trusted by 20,000 customers, including 75 of the Fortune 100, plus a global ecosystem of partners. Learn more at www.beyondtrust.com.

Follow BeyondTrust:

X: https://twitter.com/beyondtrust 
Blog: https://www.beyondtrust.com/blog 
LinkedIn: https://www.linkedin.com/company/beyondtrust
Facebook: https://www.facebook.com/beyondtrust

For BeyondTrust:

Mike Bradshaw
Connect Marketing for BeyondTrust
P: (801) 373-7888
E: mikeb@connectmarketing.com