Live data firm WANdisco saw revenues increase 73 per cent to $19.6m in the year ended December 31, 2017. as it secured record bookings in 2017.
Bookings were up 45 per cent year-on-year to $22.5m with demand for WANdisco’s flagship Fusion product up 121 per cent.
Statutory loss from operations increased to $13.5m from 2016 when it stood at $9.3m. This was mostly down to an exceptional finance loss of $4m and an increased share-based payment charge.
The exceptional finance loss arose from the retranslation of intercompany balances at December 31, 2017, WANdisco said, reflecting the appreciation of Sterling against the US dollar.
Sheffield-based WANdisco also announced that it had entered into a non-exclusive OEM (Original Equipment Manufacturer) sales agreement with Alibaba Cloud, the cloud computing arm of Alibaba Group.
David Richards, CEO and chairman of WANdisco, said: “This has been a pivotal year for WANdisco – following the transformation of our financial position during 2016, we have focused on building a commercial strategy which will deliver sustainable long-term growth.
“By expanding our partnership ecosystem we have significantly extended the reach of WANdisco Fusion, unlocking new sales opportunities in a cost effective manner.
“Our partnership with IBM brought two new record contracts during 2017 and integrations with AWS, Microsoft and Virtustream give me confidence that we can take advantage of the significant market opportunity for WANdisco Fusion.
“Organisations across the world are recognizing the value of being able to harness live data at scale and our technology is gaining increasing traction across new sectors and markets.
“Our strategy is delivering clear results; we have increased revenue by 73 per cent while maintaining control of our costs, bringing us significantly closer to our goal of cash flow breakeven.
“We have started 2018 with a strong new business pipeline and I am confident WANdisco is well positioned to take advantage of a wide range of sizeable growth opportunities.”
Under the sales agreement with Alibaba, WANdisco Fusion, a solution that seamlessly replicates transactional data, will be sold as a standard component on Alibaba Cloud,
Mr Richards said: “Partnering with Alibaba Cloud marks another significant milestone in our emergence as a critical part of cloud infrastructure.
“Our channel strategy has enabled us to expand our addressable market by; opening up new use cases for WANdisco Fusion, moving into new sectors, and now, growing our platform in new geographies.”
Hong Tang, chief architect of Alibaba Cloud, said: “We believe WANdisco’s unique Live Data platform can significantly help our customers to leverage cloud for their data computing demands, whether it is to migrate their on premise data to our cloud, utilize cloud for disaster recovery solutions or maintain a hybrid-cloud solution, while ensuring their data is always available, accurate and protected.”