WANdisco Plc Trading and business update (6887K)
06 Enero 2021 - 1:00AM
UK Regulatory
TIDMWAND
RNS Number : 6887K
WANdisco Plc
06 January 2021
6 January 2021
WANdisco plc
("WANdisco" or the "Company")
Trading and business update
-- Expects to report preliminary revenue for FY20 of at least $10.5m
-- Strong momentum in Q4 through Azure and AWS channels
-- Expanding new business pipeline supports Board expectations for FY21
WANdisco (WAND.L), the LiveData company, announces a trading
update for the year ended 31 December 2020. Following the
successful go-to-market launch of WANdisco's LiveData Platform for
Azure and the introduction of metered billing, the Group sees a
building pipeline of opportunities that reinforces Board
expectations to deliver at least $35m revenue in FY21.
2020 saw significant strategic progress for the Company. The
core product has been re-engineered from a traditional enterprise
software platform to a cloud-first platform, which can be deployed
in minutes without external assistance, enabling data transfer to
begin immediately. As a result, the Company has launched the
LiveData Platform for Azure, a native service within the Azure
portal, and LiveData Migrator on the AWS Cloud. Across the year but
predominantly in Q4, WANdisco signed 11 customers requiring data
movement to the cloud: 8 for Azure and 3 for AWS. Through
leveraging our cloud partners' sales teams, we expect to grow the
customer base at a significantly faster rate in 2021 than in
previous years.
As announced at the Group's interim results, a number of
customers in H1 2020 delayed their LiveData Platform for Azure
purchase decision to wait for the availability of metered billing.
This led to an impact on revenue recognition with a proportion of
FY20 booked revenue expected to fall into FY21. Following the
introduction of metered billing in October 2020, the Company
expects to report preliminary revenue for FY20 of at least $10.5m.
Year-end cash position is approximately $21m with $5m in trade
receivables.
Momentum has continued to build in H2 2020, with contracts won
through both the Azure and AWS channels including a top three
mobile operator, large Africa based financial services firm, and
major US telecommunications business. The Group has also expanded
relationships with key partners with a global agreement with
Infosys announced in September and LiveData Migrator integrated
into IBM's Big Replicate solution in December. In the last week of
the quarter, the Company signed a c$600k subscription contract with
a large US financial services company.
Since the go-to-market launch of WANdisco's Azure LiveData
Platform in October there has been expanding pipeline development
and customers have migrated in aggregate over 3PB of data. Current
pipeline visibility supports the Board's expectation of migrating
in excess of 100PB of data to the Azure cloud (with more than 50
customers signed over the year) and greater than 30PB into the AWS
cloud in FY21.
David Richards, CEO and Co-founder of WANdisco said:
"In H2 2020 we delivered on our stated strategy and objectives,
achieving metered billing and the go-to-market launch of our Azure
product, coupled with significant progress with LiveData Migrator
for AWS. We have entered FY21 with strong momentum, having
continued to grow and convert our pipeline of opportunities with
Azure and AWS in Q4, reinforcing our expectation to achieve at
least $35m revenue in FY21."
For further information, please contact:
WANdisco plc via FTI Consulting
David Richards, Chief Executive Officer
and Chairman
Erik Miller, Chief Financial Officer
Daud Khan, VP Corporate Development
+44 (0)20 3727
FTI Consulting 1137
Matt Dixon / Chris Birt / Kwaku Aning
+44 (0)20 7710
Stifel (Nomad and Sole Broker) 7600
Fred Walsh / Richard Short
About WANdisco
WANdisco is the LiveData company. WANdisco solutions enable
enterprises to create an environment where data is always
available, accurate and protected, creating a strong backbone for
their IT infrastructure and a bedrock for running consistent,
accurate machine learning applications. With zero downtime and zero
data loss, WANdisco's products keep geographically dispersed data
at any scale consistent between on-premises and cloud environments
allowing businesses to operate seamlessly in a hybrid or
multi-cloud environment. WANdisco has over a hundred customers and
significant go-to-market partnerships with Microsoft Azure, Amazon
Web Services, Google Cloud, Oracle, and others as well as OEM
relationships with IBM and Alibaba. For more information on
WANdisco, visit http://www.wandisco.com . www.wandisco.com
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END
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