‘Breakthrough agreement’ as data business reports revenues of £4.8m
Sheffield-headquartered live data business WANdisco has highlighted a breakthrough strategic agreement with a major enterprise cloud partner.
The listed company, which today released its preliminary unaudited results for the six months ending on 30 June 2019, recorded revenues of £4.8m, up from £4.6m in the first half of 2018.
It also reported an adjusted EBITDA loss of £6.1m (H1 2018: £5.5 m) and operating loss of £13.3m (H1 2018: £9.8m).
Over the same period, WANdisco raised £14m in share placing at 9.2% premium to provide growth capital.
Its successes included two China contracts worth a total of £2.3m, which it said reflects “growing opportunity” in that region.
In its outlook statement, the company noted: “With current visibility and a significant and growing pipeline, the Company issues FY19 revenue guidance of $24m. (£19.3m)
“This comprises renewals, late-stage deals as well as a pipeline of partner-driven sales and is underpinned by strategic partnerships that were initiated during H219. There is significant traction with new products, LiveMigrator and LiveAnalytics.”
David Richards, Chief Executive Officer and Chairman of WANdisco, said: “The core focus of management in H1 was securing the breakthrough deal with a major enterprise cloud partner announced on 15 July.
“The deal, one of the most important developments in our journey to date, is a significant co-development project which sees our technology deeply embedded into the vendor’s cloud offerings.
“The deal combines our Fusion technology with the scale, reach and enterprise capabilities of the Partner’s platform, with the sales and billing process fully independent from WANdisco.
“Our LiveMigrator solution, launched in H1, enabling the seamless migration of petabyte-scale live data to the cloud for the first time. With WANdisco LiveAnalytics, launched in Q3, we added the capability to provide continuous and immediate availability of analytics during and after migration.
“Our technology and go-to-market platform is building critical mass, with our breakthrough co-development deal a flagship example of the operational leverage developing within our business.
“This strong platform for growth and evolving pipeline of late stage deals in the early months of H2 leaves us in a strong position, underpinning the Board’s confidence in H2 and beyond.”
