In a string of honors reaching back to 2016, Verus Research is again on the Flying 40 list of New Mexico’s fastest growing technology companies.

In this 27th anniversary year for the Flying 40, Verus Research came in at number 4 for fastest growing companies, posting 48 percent revenue growth.

The awards celebrate the success of the homegrown firms included on the annual list, while also drawing the state’s attention to the critical role New Mexico’s technology sector plays in diversifying the local economy.

Flying 40 awards are sponsored and presented by the New Mexico Technology Council. You can find a complete list of this year’s honorees by visiting this link.

Albuquerque Business First has announced that Verus Research is again one of New Mexico’s fastest growing private companies.  This marks Verus Research’s 7th consecutive appearance on this list.

To qualify, companies must have a large percentage annual revenue growth over the three-year period, 2021-2023 with sales or revenue of at least $500,000 in 2021. They must also be privately held, for-profit companies, including wholly owned subsidiaries, be locally owned and based in New Mexico, and been in business all 12 months of 2021, 2022 and 2023.

Rankings were determined by companies’ percentage revenue growth.

NEW YORK, August 13, 2024 – Inc. revealed today that Verus Research ranks No. 4,705 on the 2024 Inc. 5000, its annual list of the fastest-growing private companies in America. The prestigious ranking provides a data-driven look at the most successful companies within the economy’s most dynamic segment—its independent, entrepreneurial businesses. Microsoft, Meta, Chobani, Under Armour, Timberland, Oracle, Patagonia, and many other household-name brands gained their first national exposure as honorees on the Inc. 5000.

“It is a privilege for Verus Research to again join the list of 5,000 fastest growing private companies in America,” said Grady Patterson, Verus Research CEO.  “In this, our fourth year in a row on this prestigious list, we are grateful to our amazing team members and stakeholders who contributed so much to make this journey successful.  We look forward to being on the list again in 2025.”

The Inc. 5000 class of 2024 represents companies that have driven rapid revenue growth while navigating inflationary pressure, the rising costs of capital, and seemingly intractable hiring challenges. Among this year’s top 500 companies, the average median three-year revenue growth rate is 1,637 percent. In all, this year’s Inc. 5000 companies have added 874,458 jobs to the economy over the past three years.

For complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, location, and other criteria, go to www.inc.com/inc5000. All 5000 companies are featured on Inc.com starting Tuesday, August 13, and the top 500 appear in the new issue of Inc. magazine, available on newsstands beginning Tuesday, August 20.

“One of the greatest joys of my job is going through the Inc. 5000 list,” says Mike Hofman, who recently joined Inc. as editor-in-chief. “To see all of the intriguing and surprising ways that companies are transforming sectors, from health care and AI to apparel and pet food, is fascinating for me as a journalist and storyteller. Congratulations to this year’s honorees, as well, for growing their businesses fast despite the economic disruption we all faced over the past three years, from supply chain woes to inflation to changes in the workforce.”

Albuquerque Business First has again recognized Verus Research as a New Mexico “top private company” on the publication’s 2024 list, coming in at #24 overall.

This marks the fourth consecutive year for Verus Research to earn this honor.

To make this prestigious list, a company must be a privately owned and for-profit enterprise with a substantial employee count and revenue base in New Mexico.

Verus Research announces the appointment of Victor A. Gallardo as Director of Space and Autonomy. In his new role, Gallardo brings more than 15 years of experience working with the United States Department of Defense in logistics, contracting and space vehicles.

“We are thrilled to welcome Victor to our award-winning team of scientists and engineers. He has extensive experience with strategic domains in space warfare operations including initiatives in cislunar, cyber space, and autonomous operational resilience for tactical operations,” said Dan Treibel, chief operating officer for Verus Research. “Throughout his exceptional career, Victor has been well regarded for fostering collaborative relationships across diverse stakeholders including contracting and program management, Defense Department supply chain management, and multi-mission space operations.”

Gallardo joins Verus Research from the Air Force Research Laboratory where he served as an acquisitions program manager. Immediately prior, he was an acquisitions program manager and contracting officer representative for the United States Space Force’s Space Systems Command. In this role, he managed a portfolio worth more than $600 million that encompassed engineering, development, integration and sustainment at the Research and Development, Test and Evaluation Support Complex located at Kirtland Air Force Base in Albuquerque, N.M. He also served as a contract specialist at the Air Force Research Laboratory.

Gallardo received a Master of Business Administration from the University of Maryland and a Master of Public Administration from the University of New Mexico. He is currently pursuing a Doctorate of Business Administration at Trident International University. Gallardo is also a certified Department of Defense mediator and served in the United States Marine Corps and the United States Air Force Reserve specializing in logistics and supply chain management.

“I am honored to join Verus Research to support the company and look forward to working with our team developing solutions that matter for our clients,” said Victor A. Gallardo, director of space and autonomy.

Verus Research has been awarded an 18-month, $2.5 million science & technology contract under the auspices of the Defense Department’s Test Resource Management Center (TRMC) to address the need for high power microwave (HPM) attack Instrumentation on medium unmanned aerial systems (UAS).

Under the program, Verus Research will develop a minimally-invasive HPM sensor for use on small group 1 & 2 UASs to support HPM counter-UAS weapon system testing on Defense Department test ranges.

In an impressively small package that is groundbreaking in its size and technical ability, HPM waveform characteristics will be captured in the air and telemetered to the ground. According to Verus Research Chief Technology Officer Dr. J. Mark DelGrande, “this development of novel, compact HPM instrumentation and hardened RF range communication is a specific strength of Verus Research’s technical offerings and will leverage many of the Company’s HPM sensor systems already fielded with customers today.”

Verus Research has been awarded a 5-year, $28 million contract for support under the auspices of the U.S. Army Program Executive Office for Simulation, Training, and Instrumentation (PEO-STRI).

This latest effort is known as ANKST (Airborne Non-Kinetic Systems for Test) and supports the Defense Department’s Test Resource Management Center investments in the test and evaluation (T&E) of emerging directed energy technologies. The program will address T&E needs in surrogate high power microwave (HPM) sources, associated instrumentation, and modeling & simulation.

An early focus for ANKST will be continued development of the Verus Research Reusable Recoverable Airborne Engagement (RRAE) program which seeks to fly an HPM T&E source on a recoverable airborne platform as a means of simulating air-to-ground HPM engagements.

According to Verus Research Chief Technology Officer Dr. J. Mark DelGrande, “this continued support of our PEO-STRI customer is a testament to the dedication our team members have put forward creating solutions that matter.”

The Space Vehicles Directorate of the Air Force Research Laboratory (AFRL) has awarded Verus Research a Phase II Small Business Technology Transfer (STTR) contract for the next iteration of Verus Research’s Satellite Software for Anomaly Monitoring (Sat-SAM) software.  This 2-year, $1 million effort will culminate in ground software that intakes satellite telemetry and runs analysis to detect, predict, and identify causal indicators for failures and anomalies.

To effect this outcome, Verus Research will work to improve our multivariate machine learning models, pattern recognition models, and correlation analysis to identify those causal relationships and trends with the outcomes depicted in our Sat-SAM user interface.

Verus Research’s academic partner, the University of Colorado Boulder, will work in parallel on model-based fault identification algorithms. Then, as the Verus Research team moves from concepts on the ground to implementation in space, the new and improved Sat-SAM software will run live on AFRL’s Navigation Technology Satellite-3 (NTS-3) flight experiment later this year.

The Naval Research Laboratory (NRL), in conjunction with the Naval Air Warfare Center Aircraft Division (Patuxent River), has awarded a $15.6M, 2-year contract to Verus Research to develop an agile, high-power microwave (HPM) test capability suitable for multi-frequency output in the X-band region of the RF spectrum.

The program, known as “Dual X-Band, represents a coordinated effort to employ cutting-edge technologies developed by the NRL to achieve both high power and agility from a solid state source.

This win extends Verus Research’s HPM development activities further into novel technology spaces. This outcome is largely the product of the relationship already developed between NRL and Verus Research on the Ultra-Wide Band project (also in support of the Naval Air Warfare Center).

According to Dr. J. Mark DelGrande, Verus Research Chief Technology Officer, “the deepening of this already robust relationship is a great example of how excellent execution for and team-building with our customers strengthens those relationships and enables future collaboration.”

Verus Research is again on the Inc. 5000 list of fastest growing private companies in America, the firm’s third consecutive year on the list.

Coming in at number 4,552 in the nation, Verus Research’s growth rate from 2019 through 2022 was 91 percent.

Verus Research is proud to join 4 other NM-based firms representing the Land of Enchantment on the list.

Please visit the Inc. 5000 site to see the full list.