Big orders a fillip for Big Data group WANdisco
July 25 2017
Big data group WANdisco PLC (LON:WAND) sashayed higher on record bookings sparked by a surge in demand for its flagship product Fusion. Total bookings to June rose by 73% to US$10.2mln, with Fusion, which allows seamless access to data from anywhere, up 173% to US$7mln. That reflected a contract for Fusion worth US$4.1mln and a first retail contract worth US$2mln.
Source code orders eased a little in the half year.
David Richards, chief executive, said demand had increased significantly across a number of key verticals.
“From financial services to automotive, and more recently healthcare and retail, Fusion continues to establish itself as the only solution capable of enabling organisations to seamlessly move large volumes of critical data without any downtime or service disruption.”
"The combination of strong bookings, good cash collection and tight cost controls delivered in the period significantly reduced our cash burn to a modest US$600,000.“
That should mean no need for further equity dilution he added, while the original equipment agreement with IBM and channel partnerships with Oracle and Amazon gave it confidence for the rest of the year.
Shares rose 6% to 670p.