CoolIT Systems Reports Record Quarterly Revenue
CALGARY, Alberta, Canada, Aug. 8, 2022 -- CoolIT Systems (CoolIT), the global leader in scalable liquid cooling technology for desktop and data centers, is excited to announce strong Q2 results with record quarterly revenue of $31.8 million and record monthly revenue of $12.6 million in June. CoolIT’s commercial segment led with 57% year-over-year quarterly top line growth and significant growth in pipeline and open orders.
CoolIT provides integrated liquid cooling solutions to the world’s largest server OEMs and ODMs through their patented, modular Direct Liquid Cooling technology Rack DLC. While supercomputing applications have traditionally driven demand, the enterprise high performance computing segment is the fastest growing for CoolIT. To meet the growing demand, CoolIT has continued to expand their Asian and North American operations with meaningful investments into automation and vertical integration.
“2022 is off to a great start, building on the momentum of the significant milestones we achieved last year,” states Patrick McGinn, Chief Operating Officer of CoolIT Systems, “Thanks to the continued demand in our commercial segment, we are forecasting to meet our annual target of 20% revenue and 28% EBITDA growth. We are proud to provide our customers with reliable, efficient cooling to enable their leading-edge computing systems.”
About CoolIT Systems
CoolIT Systems specializes in scalable liquid cooling solutions for the world’s most demanding computing environments. In the desktop enthusiast market, CoolIT provides unparalleled performance for a range of gaming systems. In the enterprise data center and high performance computing markets, CoolIT partners with global leaders in OEM server design to develop the most efficient and reliable liquid cooling solutions for their own leading-edge products. Through its modular, Direct Liquid Cooling technology Rack DLC™, CoolIT enables dramatic increases in rack densities, component performance and power efficiencies. Together, CoolIT and its partners are leading the way for widespread adoption of high-performance computing.
For more information about CoolIT Systems and its technology visit https://www.coolitsystems.com.
Source: CoolIT Systems