Today we announced our Q2 results. In summary Pentaho:
- More than doubled new Enterprise Edition Subscriptions from Q2 2009 to Q2 2010.
- Exceeded goals resulting in Q2 being the strongest quarter in company history and most successful for the 3rd quarter in a row.
- Became the only vendor that lets customers choose the best way to access BI: on-site, in the cloud, or on the go using an iPad.
- Led the industry with a series of market firsts including delivering on Agile BI.
- Expanded globally, received many industry recognitions and added several stars to our executive bench.
How did this happen? Mostly because of our laser focus over the past 5 years to build the leading end-to-end open source BI offering. But if we really look closely over the last 12-18 months there are some clear signs pointing to our success (my top ten list):
Top 10 reasons behind Pentaho’s success:
1. Customer Value – This is the top of my list. Recent analyst reports explain how we surpassed $2 billion mark during Q2 in terms of cumulative customer savings on business intelligence and data integration license and maintenance costs. In addition, ranked #1 in terms of value for price paid and quality of consulting services amongst all Emerging Vendors.
2. Late 2008-Early 2009 Global Recession – this was completely out of our control but it helped us significantly by forcing companies to look for lower cost BI alternatives that could deliver the same or better results than the high priced mega-vendor BI offerings. Making #1 more attractive to companies worldwide.
3. Agile BI – we announced our Agile BI initiative in Nov 2009 and received an enormous amount of press and positive reception from the community, partners, and customers. We’ve been showing previews and releasing RCs in Q1-Q2 2010 and put PDI 4.0 in GA at the end of Q2 2009.
4. Active Community – A major contributing factor to our massive industry adoption is our growing number of developer stars (the Pentaho army) that continue to introduce Pentaho into new BI and data integration projects. Our community triples the amount of work of our QA team, contributes leading plug-ins like CDA and PAT, writes best-selling books about our technologies and self-organizes to spread the word.
5. BI Suite 3.5 & 3.6 – 3.5 was a huge release for the company and helped boost adoption and sales in Q3-Q4 2009. This brought our reporting up to and beyond that of competitors. In Q2 2010 the Pentaho BI Suite 3.6 GA brought this to another level including enhancements and new functionality for enterprise security, content management and team development as well as the new Enterprise Edition Data integration Server. The 3.6 GA also includes the new Agile BI integrated ETL, modeling and data visualization environment.
6. Analyzer – the addition of Pentaho Analyzer to our product lineup in Sept-Oct 2009 was HUGE for our users – the best web-based query and reporting product on the market.
7. Enterprise Edition 30-Day Free Evaluation – we started this “low-touch/hassle free” approach in March 2009 and it has eliminated the pains that companies used to have to go thru in order to evaluate software.
8. Sales Leadership – Lars Nordwall officially took over Worldwide Sales in June 2009 and by a combination of building upon the existing talent and hiring great new team members, he has put together a world-class team and best practices in place.
9. Big Data Analytics – we launched this in May 2010 and have received very strong support and interest in this area. We currently have a Pentaho-Hadoop beta program with over 40 participants. There is a large and unfulfilled requirement for Data Integration and Analytic solutions in this space.
10. Whole Product & Team - #1-#9 wouldn’t work unless we had all of the key components necessary to succeed – doc, training, services, partners, finance, qa, dev, vibrant community, IT, happy customers and of course a sarcastic CTO ;-)
Thanks to the Pentaho team, community, partners and customers for this great momentum. Everyone should be extremely proud with the fact that we are making history in the BI market. We have a great foundation in which to continue this rapid growth, and with the right team and passion, we’ll push thru our next phase of growth over the next 6-12 months.
Quick story to end the note: I was talking and white boarding with one of my sons a few weeks ago (yes, I whiteboard with my kids) and he was asking certain questions about our business (how do we make money, why are we different than our competitors, etc.) and I explained at a high level how we are basically “on par and in many cases better” than the Big Guys (IBM, ORCL, SAP) with regards to product, we provide superior support/services, yet we cost about 10% as much as they do. To which my son replied, “Then why doesn’t everyone buy our product?” Exactly.
Richard CEO, Pentaho