Forescout Delivers Solid Top- and Bottom-line Growth in 2024

Results Driven By 20% Increase in New Recurring Bookings, 48 $1M+ Deals, Strong Growth in EMEA, Latin America, and the US Department of Defense

SAN JOSE, Calif.--(BUSINESS WIRE)--Forescout Technologies Inc., a global cybersecurity leader, today announced the company’s strong 2024 performance with solid top- and bottom-line growth including a 20% increase in new recurring bookings, 48 deals with a value of over $1 million, and exceptional growth in EMEA, Latin America, and the US Department of Defense.

Fortune 100 organizations, government agencies and large enterprises use the Forescout 4D Platform™ to discover, assess, respond, and control all managed, unmanaged, and unagentable devices across IT, OT, IoT, and IoMT environments.

“The Forescout platform safeguards millions of connected devices across mission-critical verticals worldwide including healthcare, manufacturing, energy, critical infrastructure, financial services, and government,” said Barry Mainz, CEO of Forescout. “For years, we’ve talked about the need for security convergence across IT, OT, IoMT and IoT but the increase in threats to our critical industries and systems is making this convergence real and that’s driving our business. Our momentum in 2024 reflects the demand for a platform solution that delivers asset intelligence and control across every environment.”

2024 Financial Highlights

• 20% increase in new recurring bookings
• Second year cash flow positive
• Closed 48 $1M+ deals
• Grew US Department of Defense business 38% year-over-year
• Strong year-over-year growth in key geographies: EMEA grew 21% and Latin America grew 44%

2024 Business Highlights

• Signed strategic partnership with Microsoft to secure managed and unmanaged devices.
• Won over 220 new customers including over 20 new customers across both US Defense and Civilian agencies.
• Launched Forescout for OT Security enabling organizations to secure complex IT, OT, IoMT and IoT environments in cloud, air-gapped, or hybrid configurations.
• Launched Forescout AI which provides clear narratives that highlight crucial details about connected devices, potential causes of incidents, and recommended remediation steps.
• Launched OT Forescout Fly Away Kits: a portable cybersecurity solution optimized for assessments of air-gapped and low-bandwidth systems.
• Expanded Forescout Research – Vedere Labs threat intelligence sharing to the Operational Technology Information Sharing and Analysis Center (OT-ISAC) in addition to the Cybersecurity and Infrastructure Security Agency (CISA), Australian Signal Directorate Cyber Security Centre, European Energy Information Sharing & Analysis Center (EE-ISAC) and Emerging Threat Open Sharing.

2024 Recognition and Achievements

• Forescout’s Operational Technology (OT) Solution was awarded a National Information Assurance Partnership (NIAP) Common Criteria certificate, the only specialized OT solution to receive this designation.
• Forescout’s cloud security solutions achieved Information Security Registered Assessors Program (IRAP) certification at Protected level.
• Winner of the 2024 Cybersecurity Breakthrough Awards for IoT Security Analytics Solution of the Year
• Winner of the Cyber Defense Magazine’s 2024 Global InfoSec Awards for Next-Generation OT Security Solution

About Forescout

For more than 20 years, Fortune 100 organizations, government agencies, and large enterprises have trusted Forescout as their foundation to manage cyber risk, ensure compliance, and mitigate threats. The Forescout 4D Platform™ delivers comprehensive asset intelligence, continuous assessment, and ongoing control over all managed and unmanaged, agented and un-agentable assets across IT, OT, IoT, and IoMT environments. Forescout’s open platform makes every cybersecurity investment more effective with seamless data integrations and automated workflow orchestration across more than 100 security and IT products.

Forescout Research – Vedere Labs is the industry leader in device intelligence, curating unique and proprietary threat intelligence that powers Forescout’s platform.