Exasol wins additional contracts from the financial sector with 'Espresso'

Exasol wins additional contracts in the financial service sector with "Espresso"

Nuremberg, March 25, 2024: Exasol AG, a global technology company and provider of a high-performance analytics database, has recorded further sales successes in the financial industry in the first quarter. The company has now extended existing contracts or concluded new contracts with a total of four additional customers from Europe and the USA. The annual recurring revenues (ARR) from this amounts to almost one million euros and shows the growing importance of the financial sector for Exasol. This segment already accounts for around 25% of ARR.

The largest share of the new contract volume is attributable to a customer from the German-speaking region (DACH), which has roughly tripled its existing contract to a mid-six-digit euro amount. As an IT service provider, the company takes over the data centers and IT operations for banks and thus provides a uniform platform for their users. This also includes the data analytics applications in which Exasol has been used as an accelerator for years. Due to the rapidly growing data pool, the company has now decided to extend the contract in order to continue offering its customers the usual performance in the future. Exasol will be deployed on the company's IT infrastructure (on-premise). The contract has a term of at least three years.

In addition, Exasol has also acquired a new customer from the banking sector via its partner sales, in this case via an IT consulting company in German-speaking countries that supports customers in optimizing their IT infrastructure. As part of a customer project, Exasol is used as an accelerator for the existing data analytics environment. Partner sales are becoming increasingly relevant for Exasol and are an important pillar for future growth.