WANdisco chief exec reflects on ‘wasted year’ as company looks to rebuild
Big data company WANdisco, which has been rocked by a multi-million pound fraud, has released its preliminary unaudited results for the year ended 31 December 2022.
The Sheffield-headquartered firm has reported revenue for the year of $9.7m/£7.7m (2021: $7.3m/£5.8m).
It made an adjusted EBITDA loss of $30.3m/£24m (2021: $29.5m/£23.4m) and a statutory loss from operations of $28.2m/£22.3m (2021: $37.6m/29.8m).
Trading in WANdisco shares has been suspended since 9 March. The company is being investigated after millions of pounds worth of false purchase orders were made by one of its senior sales employees.
In May, the firm confirmed it would be slashing its global headcount by about 30%.
Stephen Kelly, interim chief executive officer of WANdisco, today said: “Joining the group after the conclusion of 2022 means there is little that I can say about 2022 itself.
“I am a shareholder in WANdisco so I share many of the same sentiments, surprise and disappointments as other shareholders.
“What I can say is that 2022 in many respects turned out to be a wasted year. Having got off to a bad start, FY23 will be different. I am determined that it will serve as a real transition year towards a sustainable, growth-focused future for our business.
“We are building the platform for growth from FY24 and the classic ingredients for success are now in place. We have an attractive market and a good competitive position but need greater discipline and focus to capitalise on it. The early results of our turnaround plan show we can bring this focus to bear.”
