TEL AVIV, Israel–(BUSINESS WIRE)–August 17, 2022–
glass box (TASE:GLBX), a leading provider of digital experience analytics for web and mobile applications, today announced its financial results for the first half of 2022 totaling $46 million in annual recurring revenue (ARR ). This latest report continues the company’s growth trajectory and is marked by an impressive 99% gross retention rate for large enterprise clients, well above the industry average. To aid this growth, Glassbox has also improved its non-GAAP gross margins throughout the first half of 2022. In addition, Glassbox has reduced its year-over-year operating cash investment to $7.1 million, even as it has new expenses additional costs associated with becoming a public company.
“Midway through 2022, we have a lot to be proud of as a company,” said Glassbox CEO Yaron Morgenstern. “Glassbox has grown every quarter since going public and we continue to win competitive bids in new verticals and geographies. We will continue to invest in innovation and build the foundation to generate positive cash flow and profitability.”
The second quarter was marked by new innovations and a growing recognition of the sector. In June, Glassbox introduced Voice of the Customer and User Timelines, its latest digital experience intelligence offerings, at the company’s annual conference, DigitalWorld(c). These offerings were intended to humanize the customer journey and provide Glassbox customers with deeper insights to meet the needs of their users. The company also continues to receive more G2 Leadership Awards and remains the only company nominated as a leader in all digital CX categories and has a growing position as a leader in the mobile app customer experience space .
“Our recent news that customers can now find and purchase Glassbox solutions through the AWS Marketplace offers additional growth potential. Both customers and industry analysts are taking note of the value Glassbox brings to the table” , Morgenstern continued. “I know that with our continued innovation, existing customers renewing their contracts earlier and for longer commitments, and that our team is generating more lead sales opportunities in the first half of this year than in all of 2021 combined , Glassbox is poised to capitalize on strong demand in the second half of the year.”
About Glassbox:
Glassbox enables organizations to create frictionless digital journeys for their customers. Our digital experience analytics platform works in real-time across mobile and web apps to accelerate loyalty and growth. Through AI-powered visualization and analytics tools, Glassbox enables teams to prioritize customer experience and digital product improvements from a single, collaborative system. From IT (information technology) and product management to marketing and compliance, teams can understand user struggles, visualize the customer journey and optimize every step. Hundreds of companies in various industries have chosen Glassbox for simple, secure and private cloud-based deployments.
View the activated source version businesswire.com:https://www.businesswire.com/news/home/20220817005484/ca/
CONTACT: Matt Erickson
matt.erickson@glassbox.comKat Aronofsky
Glassbox@matternow.comOsi Sessler
IR@glassbox.com
KEY WORD: ISRAEL MIDDLE EAST
INDUSTRY KEYWORD: TECHNOLOGY MARKETING COMMUNICATIONS SOFTWARE SEARCH ENGINE OPTIMIZATION DATA MANAGEMENT COMMERCIAL MARKETING MARKETING ONLINE RETAIL
SOURCE: Glassbox
Copyright Business Wire 2022.
PUB: 17/08/2022 09:54/DISC: 17/08/2022 09:54
Copyright Business Wire 2022.
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