Delinea sees strong financial results for first quarter 2022
Delinea has announced strong results for the Q1 2022 financial quarter, with annual recurring revenue (ARR) growth exceeding 35%.
In addition, the privileged access management provider added 340 new logos during the quarter and surpassed a key milestone, reaching more than US$200 million in ARR.
The results reflect a continued momentum for the company, and it notes that the highlight of the quarter was its rebrand as Delinea in February, following the merger of Thycotic and Centrify in 2021.
"Rebranding can often be a distraction, but for Delinea it was a unifying moment during our quarter that sharpened our focus on delivering best-in-class, seamless PAM solutions," Delinea CEO Art Gilliland says.
"Communicating a clear purpose and mission to our customers as Delinea gave us additional momentum to build on throughout 2022, demonstrated by achieving a significant ARR milestone during the quarter."
Delinea also strengthened its leadership team by hiring Salesforce veteran Phil Calvin as chief product officer and promoting Damon Tompkins to chief revenue officer.
Additionally, the company promoted Shawn Brady to Americas sales vice president and made other key hires on the global sales team, such as regional leaders Spencer Young and Wahab Yusoff. Young will lead EMEA sales, and Yusoff will lead APAC sales.
Further, distinguished technology advisor Larry Quinlan joined the company's board of directors.
"Beyond innovation, the proven leaders we added to our executive team have already been pivotal in supporting our company's accelerated growth," Gilliland adds.
"Each of these industry veterans bring a world-class level of expertise and knowledge as it relates to business transformation and navigating the challenges that rise when scaling in a time of rapid growth."
The financial success comes after Delinea announced a range of training and certification initiatives to help scale the capacity of VARs, System Integrators, MSPs and MSSPs to meet the demand for PAM solutions.
The company has invested in A/NZ and Asia partner training and certifications, with nine in-person partner enablement events.
Six are in-person events in Canberra, Singapore, Perth, Sydney, Auckland and Wellington. Three are virtual events covering North Asia, South Asia and A/NZ.
The company also says more events will be scheduled in the second half of the year, including Melbourne, Brisbane and Adelaide.
The four-hour partner enablement events will be tailored for pre-sales staff and consultants. They will cover Delinea's primary people-oriented privilege management and elevation tools, including Delinea Secret Server, Server Suite and Privilege Manager.
Delinea says it has also trained trainers and refined the coursework specifically for its Secret Server Certified Engineer certification, allowing partners to gain insight and hands-on experience with the tool.
Delinea's customer base ranges from small businesses to the world's largest financial institutions, intelligence agencies and critical infrastructure companies.