Recently Listed Infoblox Looks Good

Among the recently listed technology IPOs, Santa Clara-based Infoblox is one that is doing rather well. The company is a leading provider of automated network control and appliance-based solutions that enable dynamic networks and next-generation data centers. It was founded in 1999 by the present CTO Stuart Bailey.  Inflobox offers combined real-time IP address management with automated key network control and network change and configuration management processes in purpose-built physical and virtual appliances.The solution is based on the company’s scalable and automated proprietary software that helps organizations manage network functions cost effectively and provides them with the flexibility required to scale operations.

Infoblox’s Financials
Infoblox earns revenues through sales of perpetual licenses to software that are installed on both physical and virtual appliances. The company’s more than 5,400 customers include big names like Adobe Systems, Best Buy, Boeing and Caterpillar.

Since 2009, revenues have reported a compounded annual growth rate of 46.5% to increase from $61.7 million to $132.8 million in 2011. Though they have yet to turn a profit, losses have been narrowing. Losses over the period 2009 through 2011 have reduced from $10.4 million to $5.3 million. For six months, ending January 2012, revenues grew 31% over the year to $80.7 million with a net loss of $2.8 million. They are targeting to deliver 18%-22% profits within the next three years.

The company has received financial backing from venture funds including Sequoia Capital, Tenaya Capital, Big Basin Partners, and Duchossois Technology Partners. They recently listed on the NYSE under the ticker BLOX through a $125 million IPO priced at $16 a share.

Infoblox’s Product Expansion
Infoblox has been working on releasing upgraded products, and recently announced the launch of new automated network control capabilities and an intuitive Automation Task Board that will enable organizations to automate processes and eliminate manual collaboration between multiple internal IT teams. The built-in discovery technology, automation intelligence, tracking, and user-based controls eliminate the need for interface logins and creates auditable and designated procedures. Infoblox’s “one and done” process will help reduce IT department administrative hours, speed deployments and give the department visibility across team silos.

The company’s stock is trading at $21.00 with a market capitalization of $924 million. It touched a high of $23.35 soon after its listing last month.