Minneapolis, MN – (November 3, 2020): The Minneapolis-St Paul Business Journal has named EXB Solutions, a leading engineering services firm serving Aerospace, Defense & Medical industries on mission-critical projects with engineering and advanced software services, to its esteemed 2020 Fast 50 list. The Fast 50 companies represent rapidly growing private companies and are selected and ranked based on their financial performance and revenue growth from 2016 to 2019.
EXB Solutions Inc. ranks 34th on this year’s Fast 50 list thanks to its revenue growth of 74.82% since 2017. “It’s an honor to be one of the companies contributing to Minneapolis’s continued economic growth. This win comes at a much-needed time. And we could not have done this without my dedicated EXB Team and our partners who have significantly helped us meet the industry’s growing demands,” says Chris Schwartzbauer, CEO and President, EXB Solutions.
In the past, EXB has won this consecutively for three years – 2015, 2016 and 2017. “In 2019, our revenues topped $25 million. However, the entire pandemic has slowed our growth in quarter two and three of this financial year, but this is a growing market, and we are optimistic about the future,” Schwartzbauer further adds.
To be eligible for the Fast 50, companies must be an independently owned, privately held, for-profit company. Be headquartered in the Twin Cities 24-county metro area companies, have year-over-year revenue growth for each of the three most recently completed fiscal years and must have consistent revenue growth for the last three consecutive years. All financial statements have to be verified by the company’s own independent accountant and are also reviewed by our accounting partner.
Growth rate: 74.82%
2017 revenue: $14,307,622
2018 revenue: $20,674,058
2019 revenue: $25,013,234
Read full list of winners here: https://www.bizjournals.com/twincities/news/2020/10/23/fast-50-full-list-2020-mspbj.html
Read EXB’s profile here: https://www.bizjournals.com/twincities/news/2020/10/22/2020-fast-50-exb-solutions-inc.html
About Fast 50
The annual Fast 50 List is a ranking of privately held companies based on percentage of growth in annual revenue for the past three fiscal years. To be in the running for this sought-after honor, the company’s gross annual revenue must be $1 million or more. Companies are grouped into categories based on annual reported gross revenues which are verified by independent accounting firm Wipfli. The 2020 Fast 50 recognizes the region’s fastest-growing companies based on revenue from 2017 to 2019. Eligible companies have gross annual revenue of at least $1 million. The awards recognize 50 privately held companies in the twin Cities with the fastest revenue growth between 2017 and 2019. To learn more, visit https://www.bizjournals.com/twincities/fast-50
EXB Solutions Inc. partners with Fortune 100 clients to build powerful technology for safety and mission-critical applications in the aerospace, defense, and medical device industries. Headquartered in Minneapolis, Minnesota, the service-disabled veteran-owned small business has developed systems engineering and embedded software solutions for over 19+ years. Our software solutions have helped fly successful space missions, enhanced patients’ lives through innovative, leading-edge medical devices, and advanced commercial, defense and aerospace systems. Learn more at www.exbsolutions.com.