Record bookings for live data company in ‘watershed year’
Sheffield-headquartered WANdisco has recorded preliminary unaudited revenues of at least $24m/£19.7m in a trading update for the 12 months ended 31 December 2022 (FY22).
The live data business also reported record bookings of $127m/£104m, which were driven by significant progress in the Internet-of-Things (IoT) industry.
It ended the period with a strong balance sheet, with cash of around $19m/£15.6m and $44m/£36,2m in trade receivables as at 31 December 2022.
Taken together with Remaining Performance Obligations (RPO) of $110m/£90.4m this is expected to see the company through to profitability.
David Richards, the business’s CEO and chairman, said: “2022 marked a watershed year in which demand for our solutions translated into significant contracts; investment in the development of our unique solutions to move data at scale yielded strong customer demand.
“Our solutions are an ideal fit for moving IoT data from the network edge to the cloud.
“As we enter 2023, we expect continued progress on converting our record pipeline combined with a significant ramp-up of consumption under the contracts signed in 2022, ultimately translating to recognised revenue.
“We remain confident in our ability to deliver both these objectives and look forward to updating on further progress as 2023 unfolds.”
