Sheffield live data company WANdisco enjoys strong trading in first quarter of 2022 as it secures new contracts

Live data company WANdisco today revealed that it achieved strong trading in the first quarter of 2022, following a number of significant contract wins.

In a trading update, the company said its unaudited first quarter bookings are $5.8m: up significantly from $1.1m in the same quarter last year.

The statement added: "The continued high visibility of the company's near term business pipeline underpins confidence in strong 2022 trading.

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"The company continues to have a strong balance sheet, with WANdisco's quarter-end cash position expected to be approximately $21.3m, with $2.4m in trade receivables."

David Richards, CEO and Chairman of WANdisco, commented: "The General Availability of LDM and LDMA in H2 last year laid the groundwork for a significant acceleration in new customer wins this quarter."

"In February, WANdisco completed a significant data migration for a major client to Microsoft's Azure cloud, through LDM. The client owns and operates Canada's largest railway and is currently engaging WANdisco on future use cases, including in IoT data, with the potential to move another 30 petabytes of data to the cloud per year."

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Commenting on outlook, the company said: "Looking ahead, the high visibility of WANdisco's near term business pipeline underpins confidence in continued strong trading in 2022. The company is well placed to capture significant market opportunities in high-quality IoT-driven deals and expand into new verticals in the course of the year."

David Richards, CEO and Chairman of WANdisco, commented: "The general availability of LDM and LDMA in H2 last year laid the groundwork for a significant acceleration in new customer wins this quarter. The customer value that this solution provides is clear as we are securing larger deals, in new markets such as IoT, in addition to migrating Hadoop workloads to the cloud to facilitate analytics.

"Additionally, we are seeing a shortening of the sales cycle due to cloud endorsement, but also due to the Commit-to-Consume model for customers. They are getting massive functionality and utility from their data, they are not required to purchase upfront licenses, and in turn the company is seeing limited need or pressure for discounting on price."

"We are excited by further market opportunities to enter new verticals and are well placed to capitalise on an expected increase in IoT-driven deals this year. Q122 saw a step-change in bookings and RPO and this strong momentum, combined with high near term visibility, gives us confidence in our ability to execute on the company's strong Q2 and 2022 pipeline".