After a Record Year in 2021, Glassbox Is Poised for Strong Growth in 2022
Driven by expansion in new verticals and geographies Glassbox closed 2021 with $44M in ARR, an increase of 34% YoY, a 130% increase in net new ARR and non-GAAP record revenues of $38.4M
TEL AVIV – Glassbox (TASE:GLBX), a leading provider of digital experience analytics for web and mobile applications, today announced its financial results for the fiscal year and fourth quarter of 2021. The company reported non-GAAP revenues of $38.4M for the 2021 fiscal year, yielding 30% year-over-year growth in cloud subscription revenues and 24% year-over-year growth in total revenues.
The company crossed $44 million in annual recurring revenue (ARR) in 2021 reflecting 34% YoY growth compared to the previous year. This is the third consecutive quarter of accelerated growth, since Glassbox went public on the Tel Aviv Stock Exchange in June, further expediting the company’s trajectory and progress toward its vision to reach $100 million in ARR 2-4 years following the IPO.
“Glassbox is focused now more than ever on reaching our long-term growth goals. As we continue to strengthen our position as the go-to holistic Experience Intelligence provider, we’re excited to expand into new verticals and stretch the geographic footprint of our client base,” said Yaron Morgenstern, CEO of Glassbox. “We also proudly continue to grow the value of our product set while maintaining a keen focus on customer retention.”
Driving Glassbox’s strong growth is a 130% increase in net new ARR, compared to the previous year on a pro forma basis. The company continues to heighten its talent pool with a record number of new hires globally and the addition of three new board members in Q4 including Netta Benari, a business development, strategy, mergers and acquisitions executive; Yael Shaham, a seasoned go-to-market executive; and Ben Weiss, venture partner at Softbank Ventures Asia. Glassbox also continues to leverage over $55 million in cash and short-term deposits to invest in R&D, sales and marketing and potential acquisitions to expand its Experience Intelligence platform.
Further amplifying its Experience Intelligence capabilities, Glassbox harnessed prior acquisitions including the advancement of SessionCam’s integration as well as completing the acquisition of the Convertize A/B testing technology. The company solidified its product leadership in 2021 with Microsoft Azure Marketplace, the AWS ISV Accelerate Program, Qualtrics XM Marketplace and more.
Glassbox also unveiled its Experience Intelligence vision at its annual DigitalWorld event and showcased its industry leading portfolio aligning different organizations through shared customer experience data and analytics. In addition, the company later announced performance analytics capabilities that deliver on real user experience (RUX) insights – resulting in the most comprehensive suite of digital experience innovations in the market, including extending its lead in mobile applications. Glassbox was recently recognized for its product leadership, earning an accolade in G2’s 2022 Best Software Awards in the categories of Highest Satisfaction, Marketing & Digital Advertising, Development and Content Management Products. Glassbox has received over 40 G2 Awards and was ranked #1 in the Best Relationship Index in Winter 2022.
