I’ve recently had several calls from analysts asking about how TriGeo is faring during these uncertain economic times. Nearly all of the analysts I spoke with are hearing that VC funded SIEM and log management vendors are being told by their investors to cut back spending…and not just back…WAAAYY Back.
During the discussion I told them all, we’re “doubling down.” While everyone else in our space is cutting back (even Symantec is laying off nearly 5% of its workforce) TriGeo is hiring in almost every department and investing even more into our marketing and channel efforts. We have no intention of ducking for cover - we’re forging ahead and expanding.
I see this economic downturn as an incredible opportunity for TriGeo. We’re in the best position out of all our competitors to weather this storm. TriGeo is profitable, cash flow positive, has a huge cash reserve and is debt free. I’m certain you won’t find any other private SIEM vendor who can say the same.
It’s likely that the downturn will lead to the disappearance of many of the marginal SIEM and log management products on the market. The companies selling these marginal products are alive because VC funds are keeping them afloat, not because of customer adoption. These companies are long past the time when investment made sense to get a company off the ground. Having these products fall away is a bit of ‘Natural Selection’ in action. This is the best possible news for consumers. They’ll get better products for better prices.
Yep, I do think this cloud has a silver lining.
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