WANdisco in Sheffield made 'significant strategic progress' as it revealed revenue of $7.3m

The Sheffield-based firm also reported an adjusted EBITDA loss of $29.5m for the period, widening from $22.2m in 2020. WANdisco saw a statutory loss from operations of $37.6m.

David Richards, CEO and chairman of WANdisco, said: "We made significant strategic progress in the 2021 financial year reorganising our go-to-market operation and cost structure.

“This has provided us greater revenue visibility, accountability and efficiencies to drive our business forward, and I am confident that we will continue to convert on our strong pipeline of cloud migration opportunities in the 2022 financial year.”

The business is moving towards a Commit to Consume contract structure. It will be widely utilised across all future clients, where a customer is contracted to move a minimum amount of data over a given time.

WANdisco said Commit to Consume provides it with a stream of committed revenues that have the potential to increase as customers' data needs expand, increasing revenue visibility.

Mr Richards said WANdisco’s achievements in the fourth quarter of 2021 provided a springboard for new business acceleration into the first quarter of this year.

The CEO and chairman of WANdisco says the firm is “extremely excited about the significant market opportunities that lay ahead of us for the rest of this year”.

He added: “We are well placed to capture significant opportunities as we look to enter new verticals and capitalise on an expected increase in Internet of Things-driven deals.

“Along with the improvements made to the business in the first half of 2021, we announced that our product developed for Microsoft, Live Data Migrator for Azure was now generally available.

“Achieving General Availability offers potential, new and existing customers increased confidence in our products and simplifies the ordering process, which is essential to converting on our growing pipeline.

“We also shifted from multi-year subscription contracts to the preferred transacting method for cloud customers with the adoption of Commit to Consume contracts.

“The Commit to Consume contract structure allows customers to try before adopting our solutions with very little risk, whilst allowing us to capture the growth in consumption that logically stems from the adoption of cloud-based solutions.

“We have also been able to strengthen and expand our partner ecosystem with some of the largest organisations in the world such as IBM and Oracle, who continue to depend on us to support their businesses and their enterprise customers with critical data migrations to the cloud.

“In 2022, the business is focused on continuing the acceleration of business started in the second half of 2021.

“As we have announced post period end, we have made significant achievements with major contract wins in the IoT space, in addition to continuing to secure large contracts for replicating on premises Hadoop data to the cloud.

“With our recent contract wins, unique set of solutions and high visibility of the near-term pipeline, we remain confident in our ability to significantly improve results in the 2022 financial year.”