TIDMWAND
RNS Number : 9773B
WANdisco Plc
16 January 2018
16 January 2018
WANdisco plc
("WANdisco" or the "Company")
Trading Update
Record bookings, up 45% year on year to $22.5 million
Strong growth in WANdisco Fusion bookings drives significant
business momentum
WANdisco (LSE: WAND), the live data company, provides an update
on the performance of its business in the second half and full year
results to 31 December 2017.
Key financial highlights
-- Record bookings secured in 2017, up 45% year-on-year to $22.5
million (2016: $15.5 million)
-- Bookings in H2 2017 up 28% year-on-year to $12.3 million (H2 2016: $9.6 million)
-- Big Data bookings for WANdisco Fusion ("Fusion") up 121% in
2017 to $15.7 million (2016: $7.1 million)
-- Source Code Management bookings in line with expectations
-- Announced a new $5.0 million term loan facility with Silicon
Valley Bank, with an additional $3.0 million revolving credit
facility
-- Successfully placed 2.97 million shares on 4 December 2017,
raising gross proceeds of $22.0 million
-- Cash of $27.4 million, including $4.0 million from the new
growth capital facility, at 31 December 2017 (30 June 2017: $9.9
million)
Key operational highlights
-- Strong commercial momentum and an engaged partner channel,
evidenced by landmark WANdisco Fusion wins across multiple
industries
o Announced two new contract awards for WANdisco Fusion with
major financial institutions, a record $4.32 million contract win
as well as a $4.1 million contract, both of which were secured
through our IBM OEM partnership
o Secured a $2.0 million contract for WANdisco Fusion with one
of the world's largest retailers
o Announced a first contract win for WANdisco Fusion in the
healthcare sector with a major American healthcare company
-- Continued efforts to evolve and advance the products that underpin our momentum
o Released WANdisco Fusion(R) 2.11, the latest version of the
Company's patented data replication product which includes
substantial performance improvements to the Fusion core replication
engine, resulting in flexible installation processes for users, as
well as significant product performance improvements of up to 75%
from the prior version
-- Deepened integration with major industry players and
collaboration with key partners to further enhance our market
potential
o Announced an OEM partnership with Virtustream, a Dell
Technologies company, for WANdisco Fusion, worth a minimum of $3.6
million
o Launched one of the industry's first Hybrid Data Lake
architecture in collaboration with Amazon Web Services ("AWS")
o Integrated with AWS Snowball, a secure appliance to transfer
large amounts of data in and out of the AWS cloud
o Fully integrated with Microsoft Azure Databox and HD Insights,
enabling the purchase of WANdisco Fusion on the Azure
Marketplace
David Richards, Chief Executive Officer and Interim Chairman of
WANdisco, commented:
"We are delighted to have achieved record bookings for the full
year of $22.5 million. This strong momentum has been underpinned by
strong bookings for WANdisco Fusion across a variety of major
vertical markets, including two large contract wins with major
financial services companies. We are also encouraged by the
performance of our partner-based go to market strategy, with
significant bookings this year from our IBM OEM relationship, and
the addition of another significant OEM partner with Dell's
Virtustream.
Our market doesn't stand still - and nor does our product. There
has been a transformation at WANdisco which started when we
launched our core WANdisco Fusion product. We moved from a Hadoop
focus towards providing a general data replication platform and we
now support Cloud Object Storage and a variety of other
technologies, increasing our addressable market. We have made
significant improvements to our core WANdisco Fusion product,
making it more flexible, easier to install, and faster with reduced
complexity. This should further increase our abilities to win new
business in the future.
We have begun 2018 with a strong new business pipeline across
multiple industry verticals, not only through our partnership with
IBM, but also via our other channel partners, as we maximise our
routes to market. With the proceeds of the recent placing we have
the resources to capitalise on the opportunity in front of us."
For further information, please contact:
WANdisco plc via FTI Consulting
David Richards, Chief Executive
Officer and Interim Chairman
Erik Miller, Chief Financial
Officer
+44 (0)20 3727
FTI Consulting 1137
Matt Dixon / Harry Staight
/ Leah Dudley / Kwaku Aning
+44 (0)20 7710
Stifel (Joint Broker and Nomad) 7600
Fred Walsh / Neil Shah / Ben
Maddison / Rajpal Padam
+44 (0)20 7418
Peel Hunt (Joint Broker) 8900
Edward Knight / Nick Prowting
About WANdisco
WANdisco is shaping the future of data infrastructure with its
groundbreaking Live Data platform, enabling companies to put all
their data to work for the business - all the time, at any
scale.
WANdisco makes data always available, always accurate, and
always protected, delivering hyperscale economics to support
exponential data growth with the same IT budget. With significant
OEM relationships with IBM and Dell EMC and go-to-market
partnerships with Amazon Web Services, Cisco, Microsoft Azure,
Google Cloud, Hewlett Packard Enterprise, Oracle and other industry
titans - as well as hundreds of customers among the Global 2000 -
WANdisco is igniting a Live Data movement worldwide.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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