WANDisco revenues below expectations

The Sheffield-based software firm said despite new sales bookings continuing to show variability, it benefitted from deferred revenue released from bookings in the previous period.

Volume of contract wins in big data secured in the first half was maintained in the second half WANdisco said. The latest version of its Fusion big data product was announced in December.

In its Application Lifecycle Management (ALM) business, increased focus resulted in improved sales bookings towards the end of the year, the software firm said.

Further cost reductions in the second half are expected to result in a full-year adjusted EBITDA loss better than analysts’ expectations.

David Richards, WANdisco chief executive officer, said: “Our live customers demonstrate that our Fusion product for mixed Big Data, including Cloud environments, is highly relevant to its marketplace. Our partners have recognised this by increasing their go-to-market activities with us.

“In our ALM business, I am particularly pleased with our improved sales bookings towards the end of the year, validating our increased focus on this market.

“We reduced costs progressively through the year. Whilst the timing of contract wins remains variable, I am confident that WANdisco enters 2016 on a strengthened operational footing.”