computing firm WANdisco more than doubled its pre-tax losses in the first half of the year, as investment in big data hit its bottom line.
Despite adjusted losses coming in at $9.5m (£5.8m), the firm’s interim statement remained positive, noting strong growth in sales and revenue.
Bookings were up 21 per cent to $7.4m in the six months to end of June, while deferred revenue from booked sales jumped 73 per cent to $15.5m.
David Richards, chief executive officer at WANdisco, told The Yorkshire Post the first half of the year saw major progress for its big data strategy, with the company gaining ‘great traction’ in production trials.
High-profile organisations in the UK and abroad have signed up as customers to its services, which enable analysis of vast complex data sets in areas from banking to public health.
The firm’s Sheffield office has been at the centre of Big Data investment, with its 70 staff being retrained in the new technology earlier this year.
This summer, the company also took the decision to offer four apprenticeship positions to school-leavers and graduates.
Mr Richards said: ‘There aren’t many companies doing big data. This is great for skills locally and across the UK.’
WANdisco chief financial officer Paul Harrison said the losses were ‘very much expected’ and a reflection of the significant investment in engineers and salespeople for its future strategy.
He also highlighted the $10m credit facility secured from HSBC in August as a sign of ‘a great deal of confidence’ in the company.