Company Sets New Mark for Revenue; Continues Streak of Profitability; Expands Leadership Team, Staff, and Customer Community; Introduces Innovative Solutions
HERNDON, VA, February 15, 2018 – Exostar, whose cloud-based solutions help companies in aerospace and defense (A&D), life sciences, and healthcare collaborate securely with their partners, today announced year-end results that reflect the company’s continued success in 2017. Among the highlights:
- New Records – Exostar reached new heights in revenue, headcount, and dedication to corporate social responsibility and employee volunteerism.
- Ongoing Financial Stability – The company extended its streak of profitable quarters to 32.
- Internal Expansion – As part of its 13% growth in staff, Exostar hired key personnel – including Dipto Chakravarty as CTO – to position the company for the future. Exostar also expanded its headquarters by an additional 5,000 square feet of office space.
- Customer Community Growth – Exostar’s A&D, life sciences, and healthcare communities continued to grow. In A&D, nearly 7,000 organizations now use Exostar’s risk management solution to demonstrate their cybersecurity maturity or compliance with the NIST 800-171 standard. In life sciences, 5 of the top 10 pharmaceutical customers rely on Exostar, spanning over 150,000 individuals collaborating on new drug development and clinical trials. In healthcare, Exostar integrates with nearly 20 health IT vendors, supporting the compliant creation of almost 1 million electronic prescriptions for controlled substances per month.
- Innovative New Solutions – In 2017, Exostar made an unprecedented investment in research and development. The company launched a customer identity and access management platform, which one of the world’s leading manufacturers of commercial jetliners is using to support over 1500 of its aviation customers (comprising nearly 75,000 individuals) across the globe. Exostar also introduced a vendor qualification management solution and a mobile-based multifactor authentication solution, while expanding its secure supply chain management suite to deliver digitalization across the multi-tier supplier network.
“Digital business models offer great promise and potential, and they are fundamentally changing the way organizations operate internally, with their partners, and with their customers,” said Richard Addi, Exostar’s President and CEO. “While its advantages are clear and compelling, digitalization also puts a premium on performance, collaboration, and security. Our solutions address these requirements head-on, which drove our success in 2017 and fuels our optimism for even better results in 2018 and beyond.”
Exostar, named a Cool Vendor for 2016 by Gartner, offers cloud-based solutions that help companies in highly-regulated industries mitigate risk and solve identity and access challenges. Nearly 150,000 organizations leverage Exostar to help them collaborate securely, efficiently, and compliantly with their partners and suppliers. By offering connect-once, single sign-on access, Exostar strengthens security, reduces expenditures, and raises productivity so customers can better meet contractual, regulatory, and time-to-market objectives. www.exostar.com.