Welcome to our dedicated page for FalconStor Software news (Ticker: FALC), a resource for investors and traders seeking the latest updates and insights on FalconStor Software stock.
FalconStor Software, Inc. (FALC) is a data protection software company focused on hybrid cloud and IBM Power environments, and its news flow centers on product innovation, IBM ecosystem alignment, and recurring revenue progress. Company announcements highlight FalconStor as a trusted provider of enterprise data protection for IBM Power workloads running on-premises, in IBM Power Virtual Server, and in IBM Cloud, with solutions that address backup, disaster recovery, data mobility, and long-term retention.
News items for FALC commonly include financial results updates, where management discusses hybrid cloud annual recurring revenue run-rate, the shift toward subscription and consumption-based revenue models, and the mix of recurring revenue. These releases provide insight into how the business is evolving from one-time perpetual licenses to recurring contracts and how that transition affects revenue stability.
FalconStor’s news also covers product and technology milestones, such as the launch of Habanero, a SaaS offering for secure offsite data protection for IBM Power customers, and certifications of its StorSafe and StorGuard products with IBM Storage Ceph to support AI data lake use cases with IBM watsonx. These updates describe capabilities like backup optimization, storage virtualization, hybrid and multi-cloud data protection, and integration with IBM technologies.
Another recurring theme in FALC news is partner ecosystem development. The company reports growth in its global IBM-aligned partner base, strategic agreements with technology services firms, and the use of its IBM watsonx-based assistant, FalconStor Thomas, by IBM partners in multiple countries. For investors and technology professionals, following FalconStor news provides context on its role in IBM’s hybrid cloud and AI ecosystems, the scale of its IBM Power customer footprint, and its progress in building a recurring revenue business model. Bookmark this page to monitor ongoing earnings releases, product announcements, and partnership developments related to FALC.
FalconStor Software has announced a strategic partnership with IBM to develop cloud-enabled data protection solutions for IBM Power Systems. This collaboration will deliver three new offerings: a Cloud-Native Backup Solution utilizing FalconStor's VTL technology, a Cloud Migration Solution for seamless on-premises to cloud transitions, and a Hybrid Cloud Backup Solution for managed service providers. The partnership aims to enhance customer confidence in migrating to the cloud while ensuring data security and application availability.
FalconStor Software (OTCQB: FALC) reported a 20% increase in software subscription revenue for Q4 2021 and a 40% increase for the full year, driven by growth in managed service provider (MSP) partnerships and hybrid cloud solutions. Despite a 4% year-over-year decline in total revenue for 2021, the company reported positive GAAP net income and increased cash reserves to
FalconStor Software, Inc. (OTCQB: FALC) has appointed Vincent Sita as its new Chief Financial Officer, bringing over 20 years of financial experience. Sita previously worked at Bell Canada and ACN, focusing on finance in medium-sized businesses. His role will oversee financial matters including accounting, tax, and investor relations. Both Sita and CEO Todd Brooks are optimistic about FalconStor's strategy in hybrid cloud data protection, aiming to enhance value for shareholders and support growth in managed service providers (MSPs).
FalconStor Software, Inc. (OTC-PINK: FALC) has expanded its partnership with Hitachi Vantara to deliver a backup-as-a-service solution leveraging Hitachi's flash storage arrays. This collaboration aims to enhance data protection and disaster recovery for enterprises and managed service providers.
The joint offering features cloud data protection, continuous availability, and no-compromise snapshot performance, tailored to meet specific enterprise needs. This solution is now available through Hitachi Vantara and approved channel partners globally.
FalconStor Software (OTC-PINK: FALC) has appointed former IBM executive Doug Balog to its advisory board. With over 35 years at IBM, Balog brings strategic guidance to FalconStor as it expands its hybrid cloud data protection services and partnerships with managed service providers (MSPs). His experience with enterprise IT solutions will enhance FalconStor's offerings, particularly for IBM i customers. The company continues to innovate in cloud-enabled backup solutions, multitenant management, and subscription pricing, aiming to strengthen its position in the data protection market.
FalconStor Software (OTCQB: FALC) reported a 35% year-over-year increase in subscription revenue for Q3 2021, reaching $0.8 million, driven by managed service provider partnerships and a new pricing model. Total revenue decreased by 26% to $3.3 million, with GAAP net income of $0.4 million, down from $1.5 million in Q3 2020. The company revised its 2021 revenue guidance to between $14.1 million and $15.1 million due to lower-than-expected results. Ending cash increased to $3.5 million from $0.9 million in the prior year.
FalconStor Software (OTCQB: FALC) announced its Q2 and H1 2021 financial results, noting a 6.9% year-over-year decline in total revenue for Q2 but a 6.1% increase for the first half of the year. Q2 total revenue was $3.3 million, compared to $3.5 million in Q2 2020. Product revenue for Q2 decreased by 2% to $1.6 million, while it grew by 40% in H1 to $3.7 million. Despite financial losses in Q2, FalconStor raised $4 million in new growth equity and is optimistic about stabilizing revenue growth moving forward.
FalconStor Software (OTCQB: FALC) announced a public offering of 285,000 shares at $4.10 each, totaling approximately $1.17 million. Roth Capital Partners manages the offering, slated to close around July 27, 2021. The company plans to use proceeds to enhance marketing, product development, and acquisitions, along with general corporate needs. A 30-day option for the underwriter to purchase an additional 42,750 shares is also included. The offering is registered with the SEC and details are available in the preliminary prospectus.
FalconStor Software (OTCQB: FALC) has priced a public offering of 725,000 shares of its common stock at $4.10 per share, raising approximately $2.97 million. The underwriter has a 30-day option to purchase an additional 108,750 shares. The offering is expected to close around June 23, 2021. FalconStor intends to use the proceeds to expand marketing, enhance product development, finance acquisitions, and support general corporate purposes. Roth Capital Partners is managing the offering.
FalconStor Software, Inc. (OTCQB: FALC) reported solid first-quarter fiscal 2021 results, ending March 31, with a 20% year-over-year revenue increase. Product revenue soared by 104%, reaching $2.1 million, reflecting the company's transition to a subscription model. Total revenue hit $3.8 million, up from $3.2 million in 2020. Noteworthy net income of $425,248 was recorded, compared to a loss of $0.7 million in the previous year. The focus remains on modernizing backup solutions for the cloud, enhancing data security, and capitalizing on new customer acquisitions.