Nimble Storage: Wildly Successful IPO With Help From Channel

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According to Nimble Storage's Dec. 11 SEC Form S-1/A filing, the company is currently the defendant in a lawsuit brought by NetApp over alleged theft of intellectual property by three former NetApp personal now at Nimble Storage.

Nimble Storage also said in the filing that Crossroads Systems has asked it to license certain patents to avoid infringing on them.

The company also acknowledged in its filing that it may have shipped appliances internationally contrary to U.S. government regulations regarding sales of products featuring encryption.

Also, despite strong revenue growth, with sales for the nine months ended Oct. 31 reaching $84 million compared to $53.8 million for all of 2012, the company's losses are mounting. Nimble Storage in its SEC filing said net losses in the nine months ended Oct. 31 reached $30 million, well above the pace it set in 2012 when it posted a loss of $27.9 million.

On the channel side, Nimble Storage currently boasts 780 solution provider partners. Its top-10 channel partners in 2012 accounted for 37 percent of total revenue, with CDW accounting for 10 percent of its revenue in the nine months ended Oct. 31. The company in its SEC filing said it is evaluating implementing a distribution channel to better manage its solution provider relationships.

Nimble Storage executives were unavailable to comment further at press time.


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