WANdisco reports rising revenues but sales drop by half

David Richards of Wandisco

David Richards of Wandisco

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WANdisco reported a 20 per cent rise in first-quarter revenue to £2m as cash from prior sales began to boost results.

Revenue totalled $3m (£2m) for the first three months of 2015, up from $2m in 2014.

However, total sales bookings of $2m were halved to compared to last year’s $4m for Q1, as the timing of project completions “impeded some substantial sales opportunities”.

The firm, which is jointly headquartered in Sheffield and California, said it expected volatility in quarterly bookings “during a period of rapid evolution in our products, partnerships and sales organisation”.

WANdisco secured four Big Data sales worth $400,000 in the period, including a recently-announced deal with comparison site Compare The Market.

It also completed the development of its Big Data services into the WANdisco Fusion, which allows access to data across all compatible data storage providers.

The new product will expand the firm’s addressable market, it said.

The bulk of WANdisco’s first quarter bookings came from its Application Lifecycle Management (ALM) product, with sales of $1.6m. Revenue for the product climbed eight per cent on deferred sales from prior periods.

Analysts remained positive about WANdisco’s prospects, with FinnCap and Investec backing the firm’s potential for further sales growth.

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