Scaling up Big Data projects helps WANdisco
SHEFFIELD-BASED software business WANdisco has benefitted from the move into the Big Data market, but its financial results have yet to catch up with technological progress.
The Sheffield-based business reported revenues of £7.80m for the year to 31 December 2015, down from £7.94m the year before.
Losses before tax narrowed, from a loss of £28.3m to £22.0m.
WANdisco said it was continuing to cut its operating costs through technological efficiencies and from general cost disciplines.
The business ended the year with some much-need good news, securing two deals described as the “largest-ever” for a Big Data firm including a scale-up deal with an existing telecommunications customer and with a new customer in financial services.
David Richards, WANdisco chief executive, said: Our presence in the Big Data market has taken a big step forward, with our live customers demonstrating that our Fusion product for Big Data, in on-premise, cloud or hybrid environments, is highly relevant in its marketplace.
“We reduced costs progressively through the year. Whilst the timing of contract wins remains variable, I am confident that WANdisco enters 2016 on a strengthened operational footing and is moving significantly closer to cash flow break-even.
“With a compelling product for Big Data in the Cloud, increasing engagement of partners and a well-established ALM product, we expect to build momentum through the rest of this year.”
