FalconStor Software Announces Fourth Quarter and Fiscal Year 2020 Results

▤ Summary

AUSTIN, Texas--(BUSINESS WIRE)--FalconStor Software, Inc. (OTCQB: FALC) today announced financial results for its fourth quarter and fiscal year 2020, which ended on December 31, 2020. “While our revenue in the fourth quarter of fiscal year 2020 decreased year-over-year by 10 percent and did not repeat the 11.7 percent year-over-year increase we delivered in the third quarter of 2020, we remained profitable and ended fiscal year 2020 with $1.8 million in GAAP operating income. Our third quarter performance and new customer bookings in fiscal year 2020, which increased year-over-year by 26 percent, are encouraging signals.” “As we move forward, we will continue our maniacal focus in our core mission to modernize backup and archival for the multi-cloud world with our innovative, patent-pending solution, StorSafeTM, which enables our enterprise customers to more efficiently exploit public-cloud data storage and reduce associated costs, while improving data portability, accessibility, and security – including ransomware protection,” added Brooks. A prime example is Blue Chip, a leading IBM-focused UK MSP, which now counts over 300 customers and 70 petabytes of data under management running on Blue Chip Backup Cloud, powered by FalconStor To register for our earnings call, please click the following link: As an alternative, you can copy and paste the following link into your web browser to register: Please dial the following if you would like to interact with and ask questions to FalconStor’s hosts: Toll Free: 1-866-901-6455 Access Code: 314-782-185 The non-GAAP financial measures used in this press release are not prepared in accordance with generally accepted accounting principles and may be different from non-GAAP financial measures used by other companies. Links to websites or pages controlled by parties other than FalconStor are provided for the readers convenience and information only.

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FalconStor

$10M to $25M