WANdisco Plc Trading Update (1902U)
January 16 2017 - 2:00AM
UK Regulatory
TIDMWAND
RNS Number : 1902U
WANdisco Plc
16 January 2017
16 January 2017
WANdisco plc
("WANdisco" or the "Company")
Trading Update
Total bookings up 72% year on year to $15.5 million
Big Data contract wins underpin significant business
momentum
WANdisco (LSE: WAND), the leading provider of continuous
availability software for global enterprises to meet the challenges
of Big Data, provides an update for the fourth quarter together
with second half and full year results to 31 December 2016.
Key financial highlights
-- Record bookings secured in Q4 2016 up 97% to $6.1 million (Q4 2015: $3.1 million)
-- Bookings in H2 2016 up 109% to $9.6 million (H2 2015: $4.6 million)
-- Total bookings for the full year 2016 up 72% to $15.5 million (2015: $9.0 million)
-- Cash of $7.6 million at 31 December 2016 (30 June 2016 $1.1 million)
-- Cash burn reduced to $200k in Q4 2016 (Q4 2015: $6.9 million)
showing a significant reduction in overheads
-- No borrowings on the revolving credit facility ('RCF') as at
31 December 2016 (30 June 2016: borrowings on the RCF of $3.8
million)
Key operational highlights
-- In Q2, signed IBM OEM agreement for WANdisco Fusion to be sold as IBM Big Replicate
-- In Q2, announced a major contract for WANdisco Fusion as part of Dubai's Smart City project
-- In Q3, secured $1.5 million order for WANdisco Fusion from a
major US Bank via an Oracle Reseller
-- In Q3, received $775k order for Subversion, our Application
Lifecycle Management product, from a major European Bank
-- In Q4, announced significant contract win with IBM for a
major automotive multinational worth approximately $1.0 million in
royalties to WANdisco
-- In Q4, secured a contract for Amazon S3 Cloud solution with
global online gaming company Playtika
-- Strong order book and sales pipeline continues to underpin medium term growth expectations
David Richards, Chief Executive Officer and Interim Chairman of
WANdisco, commented:
"We are delighted to have achieved record bookings in the fourth
quarter of $6 million and total bookings for the year up 72%.
Additionally, operating at nearly cash flow break-even during the
quarter reflects the significant action taken to reduce our
operational cost base, which coupled with our improved booking
performance has dramatically reduced our cash burn rate, ending the
year with no net debt.
"The key focus for 2016 was to establish our partner network and
during the year we successfully secured our IBM OEM agreement, as
well as two significant channel partnerships with Oracle and
Amazon. These partnerships are both strategically important to
WANdisco as well as already significantly contributing to our
bookings performance.
"We have begun 2017 with a strong new business pipeline and a
significantly reduced cost base, which together, will further our
progress towards profitability."
For further information, please contact:
WANdisco plc via Vigo Communications
David Richards, Chief Executive
Officer and Interim Chairman
Erik Miller, Chief Financial
Officer
+44 (0)207 830
Vigo Communications 9707
Jeremy Garcia / Fiona Henson
/ Antonia Pollock
www.vigocomms.com
+44 (0)207 710
Stifel (Joint Broker and Nomad) 7600
Fred Walsh / Neil Shah / Rajpal
Padam
UBS (Joint Broker) +44 (0)207 567
Rahul Luthra / Sandip Dhillon 8000
About WANdisco
WANdisco (LSE: WAND) is the world leader in Active Transactional
Data Replication(TM). Its patented technology provides continuous
consistent access to changing data anytime and anywhere with no
downtime and no disruption. WANdisco's patented technology serves
crucial high availability (HA) requirements, including migration to
cloud, Hadoop Big Data and Application Lifecycle Management (ALM),
Subversion, Git and Gerrit.
WANdisco works directly with Fortune 1000 companies around the
world and in all sectors to ensure their data, whether it is
on-premise or in the cloud, gives them the real insight they need.
WANdisco has an OEM with IBM and is also partnered with Amazon Web
Services, Cisco, Google Cloud Platform, Hewlett Packard Enterprise,
Microsoft Azure and Oracle to resell its patented technology.
WANdisco is committed to the ODPi Interoperable Compliance Program
to ensure its products are interoperable across a wider range of
commercial Apache(TM) Hadoop(R) Platforms.
For additional information, please visit www.wandisco.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
TSTBIGDBRSBBGRU
(END) Dow Jones Newswires
January 16, 2017 02:00 ET (07:00 GMT)
Wandisco (LSE:WAND)
Historical Stock Chart
From Aug 2024 to Sep 2024
Wandisco (LSE:WAND)
Historical Stock Chart
From Sep 2023 to Sep 2024