Share Name Share Symbol Market Type
Wandisco Plc Ord GBP0.10 NEX:WAND.GB NEX Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +10.00p +2.53% 405.00p 390.00p 420.00p 408.86p 398.98p 403.37p 5,320 09:12:16

WANdisco Plc WANdisco plc Trading Update

03/09/2018 7:00am

UK Regulatory (RNS & others)


Wandisco Plc Ord GBP0.10 (NEX:WAND.GB)
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3 Months : From Aug 2018 to Nov 2018

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TIDMWAND

RNS Number : 4875Z

WANdisco Plc

03 September 2018

3 September 2018

WANdisco plc

("WANdisco," the "Company" or the "Group")

Trading Update

IBM expands OEM agreement and increases royalty to WANdisco

Accelerating momentum in Cloud, underscored by three new Microsoft deals in H1

WANdisco (LSE: WAND), the LiveData company, provides the following trading update for the six months ended 30 June 2018.

Key financial highlights

   --     Total bookings secured in H1 2018 of $9 million (H1 2017: $10.2 million) 

o Big Data bookings secured for WANdisco Fusion ("Fusion") of $6.2 million (H1 2017: $7.0 million)

   --     Source Code Management bookings of $2.8 million (H1 2017: $3.2 million) 
   --     Cash on balance sheet of $18 million 

-- Robust and strengthening sales pipeline underpins the Board's continued confidence in achieving full year market expectations

Key operational highlights

   --     Significantly expanded relationship with IBM 

o OEM royalty increases to 50% (previously 30%)

o Guaranteed annual minimum royalty commitment

o Deeper integration including joint engineering work to support IBM BigSQL and other products, significantly expanding addressable market

o New customers in insurance, banking, telecommunications and US Government

   --     Momentum in Cloud with Microsoft 

o Gained Co-Sell Status allowing WANdisco Fusion(R) Live Data Platform to be sold as a standard packaged offering with Microsoft Azure (Cloud)

o Three strategic deals with high profile Microsoft customers in banking, semiconductors and retail:

-- Major bank introduces WANdisco Fusion to enable hybrid cloud

-- Semiconductor company unlocks potential of cloud with WANdisco Fusion

-- Major retailer migrates from Amazon to Microsoft

-- All of these deals have annual recurring revenues with significant growth potential

-- Announced OEM sales partnership with Alibaba Cloud and first product now integrated with its cloud solution

-- Filed new Blockchain Patent to potentially open a significant new market for WANdisco's unique technology

   --     Dr. Sakthi Subramanian joins WANdisco as VP of Engineering 

David Richards, Chief Executive Officer and Interim Chairman of WANdisco, commented:

"We are delighted to deepen and broaden our relationship with IBM. We have increased the royalty payable to WANdisco and agreed to joint development that significantly expands our opportunities to leverage the IBM Channel.

In the first half we began the transition toward predictable, annual recurring cloud revenue and away from large and difficult to forecast on-premise transactions. This is an expected and extremely positive evolution for our business. It opens up a significantly larger addressable market in the cloud and will enable us to generate a more predictable- recurring revenue base.

The early traction we are seeing with Microsoft clearly demonstrates that Fusion is the only solution capable of enabling organisations to seamlessly move large volumes of critical data to the cloud, without any downtime or service disruption. Unlike on-premise deals, these cloud deals are initially smaller in revenue terms but are expected to scale materially over time as is common with cloud deployments."

The Company has a robust and strengthening sales pipeline which underpins the Board's continued confidence in achieving full year market expectations.

The Company will announce its first half results on Tuesday 25(th) September.

For further information please contact:

WANdisco plc via FTI Consulting

David Richards, Chief Executive Officer and Chairman

Erik Miller, Chief Financial Officer

FTI Consulting +44 (0)20 3727 1137

Matt Dixon / Harry Staight / Leah Dudley / Kwaku Aning

Stifel (Joint Broker and Nomad) +44 (0)20 7710 7600

Fred Walsh / Neil Shah / Alex Price / Rajpal Padam

Peel Hunt (Joint Broker)

Edward Knight / Nick Prowting +44 (0)20 7418 8900

WH Ireland Limited (Joint Broker)

Adam Pollock / Tim Feather +44 (0)20 7220 1666

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 news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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