WANdisco reveals half year progress after changing focus to cloud-based transactions
WANdisco, the Sheffield and California big data specialist, has seen total bookings drop but the CEO says he is confident as the firm focuses on cloud-based transactions.
Publishing a trading update to June 30 2018, the listed firm reported that it had secured total bookings of $9m, down from the $10.2m achieved during the same period last year.
Big Data bookings secured for WANdisco Fusion also fell to $6.2m, as did Source Code Management bookings, which were recorded at $2.8m.
WANdisco, however, said that “robust and strengthening sales pipeline” underpinned the Board’s continued confidence in achieving full year market expectations.
During six-month period, the firm expanded its relationship with IBM and formed deeper integrations with joint engineering work to support IBM BigSQL and other products.
WANdisco established new customers in insurance, banking, telecommunications and US the Government, whilst also securing three new deal with with Microsoft. The company said that all three of the deals have annual recurring revenues with significant growth potential.
David Richards, chief executive officer and interim chairman of WANdisco, said: “We are delighted to deepen and broaden our relationship with IBM. We have increased the royalty payable to WANdisco and agreed to joint development that significantly expands our opportunities to leverage the IBM Channel.
“In the first half we began the transition toward predictable, annual recurring cloud revenue and away from large and difficult to forecast on-premise transactions. This is an expected and extremely positive evolution for our business.
“It opens up a significantly larger addressable market in the cloud and will enable us to generate a more predictable- recurring revenue base.
“The early traction we are seeing with Microsoft clearly demonstrates that Fusion is the only solution capable of enabling organisations to seamlessly move large volumes of critical data to the cloud, without any downtime or service disruption. Unlike on-premise deals, these cloud deals are initially smaller in revenue terms but are expected to scale materially over time as is common with cloud deployments.”
