Contract wins accelerate growth at listed software company
Data software company, WANdisco, says a series of significant contract wins meant it was able to achieve strong trading in quarter four.
Publishing a trading update for the year ended 31 December 2021, the Sheffield-based business says its preliminary unaudited revenues are expected to be in-line with current market estimates, upgraded in December 2021.
Its quarter four bookings increased 30% to $8.4m/£6.2m from $6.5m/£4.8m in quarter four 2020. For FY21, bookings increased 17% to $11.9m/£8.8m from $10.2m/£7.5m in the prior period.
David Richards, CEO and chairman, said: “The WANdisco team has worked incredibly hard to lay the groundwork for a significant acceleration in new customer wins through an effective restructuring of our sales organisation.
“We are now seeing the benefit of this labour as we look to secure larger deals, in new markets through our growing, market leading product portfolio.
“We are excited by the opportunities we are seeing in the market to enter new verticals and are well placed to capitalise on an expected increase in IoT-driven deals this year.”
Toward the end of FY21, the company notes that it took steps to realise efficiencies in its business model through “prudent sales reorganisation and effective cost management.”
WANdisco’s year-end cash position is expected to be about $27.8m/£20.5m, a 32% increase on the prior year.
And it has deepened its strategic relationships with key partners, including Oracle.
It recently announced that Oracle will provide fully funded access to WANdisco’s LiveData Migrator solution to support its enterprise customers and partners in accelerating data lake migrations to the cloud.
