WANdisco Plc Trading Update (9773B)

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 
 
 
                                    [phone] 
 FTI Consulting                      1137 
 Matt Dixon / Harry Staight 
  / Leah Dudley / Kwaku Aning 
 
 
                                    [phone] 
 Stifel (Joint Broker and Nomad)     7600 
 Fred Walsh / Neil Shah / Ben 
  Maddison / Rajpal Padam 
 
 
                                    [phone] 
 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

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January 16, 2018 02:00 ET (07:00 GMT)