WANdisco sees revenue dip but Sheffield firm remains confident about year ahead

Live data firm WANdisco reported revenue of $10.5m for the yeard ended December 31, 2020, down from $16.2m the previous year, reflecting an ongoing change in revenue mix between its legacy business and its big data business as well as an increasing shift to cloud-based revenues.

David Richards: "WANdisco is uniquely positioned to enable the next generation of machine learning and artificial intelligence in the cloud."

The Sheffield-based firm also reported an adjusted EBITDA loss of $22.2m and a statutory loss from operations of $34.3m. WANdisco said it remains confident in its ability to achieve at $35m in revenues in the 2021 financial year.

David Richards, CEO and chairman of WANdisco, said: "In 2020 we achieved our primary strategic goal of launching our LiveData Platform for Microsoft Azure as a native offering - becoming deeply embedded into the cloud fabric as Microsoft's preferred data lake migration solution.

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"In addition, we launched LiveData Migrator on AWS and became the only vendor to achieve Migration Competency status, positioning WANdisco as the global standard for cloud migration to AWS. These milestone achievements position WANdisco for significant scalable growth in the 2021 financial year.

"WANdisco is uniquely positioned to enable the next generation of machine learning and artificial intelligence in the cloud.

"Our partnerships with the major cloud vendors and solutions like Databricks and Snowflake provides a growing opportunity to become integral to the entire lifecycle of analytical data.

"In the 2021 financial year, the business is focused on accelerating the conversion of the 200-300 exabyte cloud migration market identified by Microsoft by continuing to expand our partner relationships and delivering on our pipeline.

"WANdisco enters the 2021 financial year with an unparalleled solution, deeply embedded into the world's largest cloud ecosystems and with the experience and financial platform to convert on a vast market opportunity. With these drivers and the group's current pipeline and visibility, we remain confident in our ability to achieve at least $35m in revenues in the 2021 financial year."

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