Advances AI-led, platform-driven services strategy
SANTA CLARA, Calif. and PUNE, India, Oct. 22, 2024 /PRNewswire/ — Persistent Systems (BSE: 533179) and (NSE: PERSISTENT) today announced the Company’s audited financial results for the quarter ended September 30, 2024, as approved by the Board of Directors.

Consolidated Financial Highlights for the Quarter ended September 30, 2024
Q2FY25
Margin%
QoQ
YoY
Revenue (USD Million)
345.5
5.3 %
18.4 %
Revenue (INR Million)
28,971.5
5.8 %
20.1 %
EBITDA (INR Million)
4,807.3
16.6 %
5.6 %
18.7 %
PBT (INR Million)
4,345.2
15.0 %
8.5 %
22.1 %
PAT (INR Million)
3,250.0
11.2 %
6.1 %
23.4 %
Sandeep Kalra, Chief Executive Officer and Executive Director, Persistent:
“We are proud to announce the 18th sequential quarter of revenue growth, delivering $345.5M revenue, an 18.4% increase year-over-year. In the same period, our PAT grew by 23.4% in rupee terms. 
This quarter, we continued to strengthen our capabilities and advance our AI-led, platform-driven services strategy. We brought on Starfish Associates to elevate our AI-powered contact center modernization; the addition of Arrka expands our comprehensive offerings in digital governance, including data privacy, AI governance, and cybersecurity.
For the second year in a row, we were named a Challenger in the 2024 Gartner® Magic Quadrant™ for Public Cloud IT Transformation Services. We believe this inclusion underscores our differentiated cloud expertise and ability to deliver boutique-style client experiences using AI and automation.
Deepening our ESG commitment, I am pleased to share that we achieved carbon neutrality ahead of our target. These accomplishments demonstrate our dedication to delivering exceptional value to our clients while positively impacting the environment and society.”
Second Quarter FY25 Client Wins and Outcomes
The order booking for the quarter ended on September 30, 2024, was at $529.0 million in Total Contract Value (TCV) and at $348.3 million in Annual Contract Value (ACV) terms.
Some of the key wins for the quarter include:
Software, Hi-Tech & Emerging Industries
Enhancing the roadmap of product engineering and data engineering of the core application performance monitoring and observability platforms for a leading observability platform providerSetting up a global technology center for product engineering, customer support, and professional services to accelerate product roadmap and enhance productivity for a leading US-based cybersecurity companyStandardizing data management with a state-of-the-art data lake to improve utilization, predict stock, and reduce food waste for a global leader in food services and facilities managementBanking, Financial Services & Insurance
Modernizing cloud-based accounting software platform and report generation capabilities to improve user experience and business efficiency for one of the largest US-based fintech companiesTransforming and integrating front-office and regulatory technologies into a unified framework to reduce technical debt, enhance efficiency, and improve user experience for a large global financial conglomerateAccelerating go-to-market and upgrading technology stack with SASVA™ to scale flagship pricing and profitability management products for a leading financial analytics firmHealthcare & Life Sciences
Establishing an AI-enabled software engineering hub and modernizing IT infrastructure for a PE-led carve-out of a leading life sciences and scientific instrumentation companyAccelerating the transition of the core research and development center to India securely and effectively for a leading US-based precision medicine and omics analytics providerDeveloping core applications to streamline customer on-boarding, device management, report management, and CRM integration for a leading UK-based organ transplant device manufacturerNews in the Quarter       
Persistent Advances Data Privacy and AI-Driven Business Transformation with the Acquisition of ArrkaPersistent Unveils SASVA™ 2.0: Revolutionizing AI-Driven Software Development and Business AccelerationPersistent Named as a Challenger in 2024 Gartner® Magic Quadrant™ for Public Cloud IT Transformation ServicesAwards and Recognitions
Sandeep Kalra recognized the Best CEO in the IT Services (Emerging Companies) category by Fortune IndiaPersistent Achieves Carbon Neutrality a Year Ahead of TargetPersistent upgraded to Version 3 of CMMI Maturity Level 5 certificationPersistent received Gold-level recognition in the 2024 Healthy Workplace Awards from Arogya WorldPersistent cited as a Leader in ISG Provider Lens™ for Google Cloud Ecosystem Partner 2024 ReportFor the third consecutive year, Persistent has been listed in the Constellation Shortlist™ 2024 for Public Cloud Transformation Services for GlobalFor the second consecutive year, Persistent has been listed in the Constellation Shortlist ™ 2024 AI Services for GlobalPersistent has been listed in the Constellation ShortList™ 2024 for Custom Software Development ServicesPersistent has been listed in the Constellation Shortlist ™ 2024 for Customer Experience (CX) Operations Services for GlobalPersistent named a Leader in Everest Group’s BFSI-specific Software Product Engineering Services PEAK Matrix® Assessment 2024Persistent Named Fastest Growing IT Services Brand in the 2024 Brand Finance India 100 ReportAbout Persistent
Persistent Systems (BSE & NSE: PERSISTENT) is a global services and solutions company delivering Digital Engineering and Enterprise Modernization to businesses across industries. With over 23,200 employees located in 19 countries, the Company is committed to innovation and client success. Persistent offers a comprehensive suite of services, including AI-enabled software engineering, product development, data and analytics, CX transformation, cloud computing, and intelligent automation. The Company has been recognized as the “Most Promising Company” of the Year by CNBC-TV18 at the 2023 India Business Leader Awards. Persistent has achieved carbon neutrality, reinforcing its commitment to sustainability and responsible business practices. As a participant of the United Nations Global Compact, the Company is committed to aligning strategies and operations with universal principles on human rights, labor, environment, and anti-corruption, as well as take actions that advance societal goals. With 327% growth in brand value since 2020, Persistent is the fastest-growing IT services brand in the 2024 Brand Finance India 100 Report.
www.persistent.com
Forward-looking and Cautionary StatementsFor risks and uncertainties relating to forward-looking statements, please visit persistent.com/flcs
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Netwrix has been recognized as a Product Leader, Innovation Leader, and Overall Leader in the IGA market.
FRISCO, Texas, Oct. 22, 2024 /PRNewswire/ — Netwrix, a vendor that delivers effective and accessible cybersecurity to any organization, was named an Overall Leader in KuppingerCole’s Identity Governance and Administration Leadership Compass. This category combines an organization’s Product Leadership and Innovation Leadership ratings.

In its annual IGA Leadership Compass, KuppingerCole analyzes solutions that provide both identity lifecycle management and access governance capabilities to support organizations in activities such as provisioning, management of entitlements, configuration and enforcement of policies, access certifications, access reviews, user self-service, and more. This year’s report notes that the identity and access intelligence level has become a key differentiator between IGA product solutions.  
Netwrix Usercube is a Software-as-a-Service (SaaS) solution that helps customers overcome the security, compliance, and productivity challenges associated with users joining, leaving or changing roles within an organization. KuppingerCole’s IGA Leadership Compass calls out many of the product’s key benefits, including its granular identity lifecycle management and the data model, flexible microservices architecture to represent particular IGA tasks, and simulation engine that enables one to see the impact of a role model change.
“Netwrix Usercube is emerging as a strong alternative due to its well-balanced set of IGA capabilities, as well as making good use of identity and access intelligence,” says Nitish Deshpande, Research Analyst at KuppingerCole. Deshpande also remarked on the product’s ease of use: “Netwrix Usercube has a modern and user-friendly interface with a dynamic and configurable dashboard.”
“Netwrix Usercube met the contractual, security, and GDPR requirements, including ISO 27001 certification. It satisfied our needs and responded to the call for tenders,” says Christophe Forgin, Director of Digital Services at Conseil Departmental de La Mayenne.
“Lightweight architecture combined with powerful capabilities and ease of use are the pillars of the Netwrix portfolio. Recognition of Netwrix Usercube by IAM-focused analysts motivates us to evolve even further to ensure a brighter digital future for our customers,” says Michael Tweddle, Chief Product Officer at Netwrix.
Please visit the report page to learn more about Identity Governance and Administration Leadership Compass by KuppingerCole and to get your copy.
About Netwrix
Netwrix champions cybersecurity to ensure a brighter digital future for any organization. Netwrix’s innovative solutions safeguard data, identities, and infrastructure reducing both the risk and impact of a breach for more than 13,500 organizations across 100+ countries. Netwrix empowers security professionals to face digital threats with confidence by enabling them to identify and protect sensitive data as well as to detect, respond to, and recover from attacks.
For more information, visit www.netwrix.com.
About Kuppinger Cole Analysts AG
KuppingerCole, founded in 2004, is a global, independent analyst organization headquartered in Europe. They specialize in providing vendor-neutral advice, expertise, thought leadership, and practical relevance in Cybersecurity, Digital Identity & IAM (Identity and Access Management), Cloud Risk and Security, and Artificial Intelligence, as well as for all technologies fostering Digital Transformation.
For more information, visit  www.kuppingercole.com 
CONTACT:
Erin JonesAvista PR for NetwrixP: 704.664.2170E: [email protected]
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Growth Accelerates as Demand for SC//Platform Surges Among Customers and Partners Seeking VMware Alternatives and Edge Computing Solutions
INDIANAPOLIS, Oct. 22, 2024 /PRNewswire/ — Scale Computing, a market leader in edge computing, virtualization, and hyperconverged solutions, today announced record growth for the third quarter of 2024. The company saw an increase in software sales of over 60 percent year over year (YoY), more than doubling its number of new customers over the same period last year. The increased demand for both VMware alternative virtualization platforms and edge computing solutions continues to drive record company growth.

“Edge computing is driving IT transformation; AI is accelerating edge computing adoption; and both channel partners and customers are hungry to move on from VMware as they make this next leap forward. Scale Computing Platform’s unmatched capabilities and ecosystem partners empower distributed enterprises anywhere in the world and across all verticals to embrace the future of edge computing, driving efficiency, compliance, and profitability,” said Jeff Ready, CEO and co-founder of Scale Computing. “Each quarter this year, we have experienced record demand and an accelerating growth rate, which now exceeds even our highest growth forecasts. With no sign of slowing down, we’re welcoming record numbers of new customers and new partners who will continue to drive growth into 2025 and beyond.”
The company continues to expand in key vertical markets, including the retail industry. Scale Computing recently announced new edge computing customer Royal Farms, operator of fast and friendly neighborhood convenience stores with 260 locations throughout Maryland, Delaware, Virginia, Pennsylvania, West Virginia, and New Jersey. The company is transforming the landscape of IT infrastructure in the retail sector by delivering a single platform for unparalleled performance, reliability, and ease of use for the deployment, management, and growth of on-premises applications like POS, IoT, pump monitoring, video surveillance, and customer experience.
In Q3, Scale Computing released Scale Computing Migrate (SC//Migrate), a new solution designed to streamline and simplify the migration process for businesses transitioning away from VMware. The company also offers an SC//Migrate Quickstart Service with expert support to further assist in the migration process. Additionally, Scale Computing unveiled its Total Cost of Ownership (TCO) Calculator tool, a free online tool for estimating the cost savings customers can achieve across specific technology categories and server models by migrating application workloads to Scale Computing Platform (SC//Platform). TCO calculation enables customers to evaluate purchasing decisions based on the comprehensive costs of owning and operating IT infrastructure over its lifecycle or other set periods of time. The company also introduced HC3450FG, new GPU-enabled hardware for data-intensive applications and AI workloads.
Other key Q3 2024 awards, recognitions, and partnerships include:
CRN recognized Scale Computing with CRN 2024 Annual Report Card (ARC) Award for the sixth consecutive year.Scale Computing recognized as a Top 5 VMware vSphere Alternative by the Data Center Intelligence Group.CRN recognized Jeff Ready and Scott Mann on its 2024 Top 100 Executives List, with Ready named the number one IT Innovator.CRN named Scale Computing’s Autonomous Infrastructure Management Engine (AIME) a finalist in the 2024 Tech Innovator Awards in Edge Computing/Internet of Things category.Gartner recognized Scale Computing as a Sample Vendor in the 2024 Gartner® Hype Cycle™ for Data Center Infrastructure Technologies.Scale Computing and Leostream Corporation announced a joint integration delivering virtual desktop infrastructure (VDI) for distributed enterprise, SME/SMB, education, and others.Scale Computing announced a partnership with WiCom Networks to deliver a VMware alternative solution to Latin American IT Markets.The Channel Company named Scale Computing to its 2024 MES Midmarket 100 list.Scale Computing was named a finalist in CRN’s 2024 Deutschland Channel Awards.CRN named Marlena Fernandez a finalist in its Women of the Year Awards.For more information about Scale Computing, please visit scalecomputing.com.
About Scale ComputingScale Computing is a leader in edge computing, virtualization, and hyperconverged solutions. Using patented HyperCore™ technology, Scale Computing Platform automatically identifies, mitigates, and corrects infrastructure problems in real-time, enabling applications to achieve maximum uptime, even when local IT resources and staff are scarce. Edge Computing is the fastest-growing area of IT infrastructure, and industry analysts have named Scale Computing an outperformer and leader in the space, including being named the #1 edge computing vendor by CRN. Scale Computing’s products are sold by thousands of value-added resellers, integrators, and service providers worldwide. When ease-of-use, high availability, and TCO matter, Scale Computing Platform is the ideal infrastructure platform. Read what our customers have to say on Gartner Peer Insights, G2, and TrustRadius.
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