Waltham, Mass., January 22, 2004 -- Gómez®, Inc., the Internet Performance Management (IPM) Company, today announced strong 2003 results, with growing global revenue and bookings, continued investor confidence and industry recognition. This strength is attributable to the unique value of Gómez's solutions, upon which companies depend to measure, monitor and improve the profitability and effectiveness of their Internet operations.
In 2003, IPM subscription revenue jumped 51% from 2002, while bookings soared 82%. In the fourth quarter, IPM subscription revenue climbed 61% and bookings increased 74%, over the same period. Gómez attributes the strong performance to success in serving Global 1000 firms. The company added 90 new customers in 2003, and posted subscription renewal rates in excess of 95%.
Reflecting equally strong investor confidence, Gómez closed two rounds of financing in 2003, with both rounds reflecting an increased valuation of the company. With the proceeds from these rounds, Gómez completed two acquisitions, continues to enhance the Gómez Performance Network and will continue to expand its domestic and international sales and marketing operations. Gómez will continue to evaluate strategic investments that help our customers to improve the effectiveness and profitability of their Internet operations.
"We are delighted with the company's remarkable performance and strong leadership," said Todd Marcy of Dolphin Equity Partners, a strategic Gómez investor. Added Marcy, "With this capital investment, Gómez will continue to make strategic investments that will enable it to capitalize on its market leadership." Other strategic Gómez investors include the UK's Doughty Hanson & Co., Germany's AdAstra and Deutsche Bank, and US-based Aurora Funds.
"2003 was an exceptional year for Gómez," stated Dr. Alex Stein, Gómez Chief Executive Officer. "With 90 new customers, it is clear that an increasing number of companies rely on Gómez to improve the effectiveness and profitability of their Internet operations. This encouragement and recognition from our customers and investors makes this an exciting time for Gómez," adds Stein.
Capping the exciting year is Network Computing's "Editor's Choice Award", recognizing the technical leadership of Gómez's performance monitoring solutions. "Our tests left us without a doubt as to our winner. Gómez's service was more detailed, easier to work with and more sophisticated than the others," said Executive Editor Bruce Boardman.
"We are very pleased with this clear validation of our solution as the leader in the IPM marketplace," said Stein. "Gómez will continue to develop and enhance products and services that monitor, measure and improve the profitability of our customers' Internet operations with the release of the next-generation in detection architecture and methodology," he continued. "Scheduled for release in early 2004, this new architecture will add to our customers' ability to clearly understand their Internet operations and develop techniques to improve their competitive advantage."
About Gómez
Gómez, the Internet Performance Management Company, offers products and services to Global 1000 companies to improve the effectiveness and profitability of their Internet operations through improved performance monitoring, measurement and analysis. Founded in 1997, Gómez has provided performance measurement, benchmarking and competitive insight to help build successful e-businesses. Gómez publishes widely accepted indices that measure relative Internet performance in many industries, including financial services, e-tailing and hoteling, which adds context to individual site performance. These industry benchmarks have become the independent standard by which many company's operations are measured.
Gómez, Gómez.com, GómezPro, Gómez Scorecards, Gómez Performance Network and Internet Quality Measurement are trademarks and/or service marks of Gómez, Inc. All other trademarks are the property of their respective owners.
For more information contact Alan Alper at (781) 768-2147; aalper@Gómez.com.
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