Octopus milestones in 2024

In the last couple of months, we passed two incredible milestones:

• our team of Octonauts passed 300; and,
• we exceeded A$100M in annual recurring revenue (ARR)!

When new Octonauts join, and I meet them some weeks later, I consistently hear that Octonauts are welcoming, really want to help each other, and that the things I wrote in our handbook are really alive in the company. The talent density we have is unmatched, and I count myself fortunate every day to work with such good people. Octonauts are smart, get things done, and are kind, a rare combination!

The last update I wrote about Octopus was in 2021, and back then we had 179 people. Perhaps it's time for an updated snapshot of where we are!

In March of 2024, we acquired Codefresh, the leading Argo-based GitOps solution, which added 52 Octonauts overnight, nearly all of whom have found great long-term homes in our combined company.

Our 309 Octonauts come from all walks of life and span the globe, living in 16 countries, including:

• 141 in Australia
• 66 in the USA
• 25 in New Zealand
• 24 in the United Kingdom
• 19 in Israel
• 13 in Ukraine

Our departments still follow some natural geographical clustering:

• 166 Octonauts work in R&D (engineering, design, product, SecOps, DevOps), and these roles are mostly in Australia/New Zealand, Israel, and Ukraine.
• 78 Octonauts work in our revenue organization, which includes sales, support, and customer success. These roles are mostly in the US though they span the globe to ensure we have good customer coverage.
• 16 Octonauts work in marketing, which is spread between US, UK and Australia, and a few working remotely in other countries.
• The rest work in finance, people & culture, and other admin functions, which tend to be in Australia or the US.

We continue to run Octopus as a profitable business. Here are some pretty cool stats (they may not mean much if you are an engineer, but I think investors consider them pretty world-class):

• Over the last ten years, we've grown annual recurring revenue by 30-50% each year
• We have been profitable for 9 out of the last 10 years
• We are a "rule of 40" company consistently
• We have never put together a pitch deck
• We've never had a major security vulnerability that I can recall (I like to put this out there to keep our SecOps teams on their toes!)
• We've never had a serious enough HR issue to involve a settlement or any kind of tribunal. I credit this to our company culture and treating people like adults.

Well, investors probably don't care about the last three, but I'm pretty proud of them! 😄

I'm as excited as ever about what we are doing and the team we are building. Through 2025 we'll continue to grow and hire as we focus on building the best Continuous Delivery product in the world for teams at scale.