Sheffield-based data services firm WANdisco stuck to its full year projections despite a fall in bookings.
The total amount of bookings secured in the first half of this year added up to $9 million down from $10.2 million last year.
Big Data bookings secured for WANdisco Fusion were $6.2 million, down from $7.0 million.
The firm also reported “significantly expanded relationship with IBM” and a guaranteed annual minimum royalty commitment.
David Richards, chief executive officer and interim chairman of WANdisco, said: “We are delighted to deepen and broaden our relationship with IBM. We have increased the royalty payable to WANdisco and agreed to joint development that significantly expands our opportunities to leverage the IBM Channel.
“In the first half we began the transition toward predictable, annual recurring cloud revenue and away from large and difficult to forecast on-premise transactions. This is an expected and extremely positive evolution for our business. It opens up a significantly larger addressable market in the cloud and will enable us to generate a more predictable recurring revenue base.
“The early traction we are seeing with Microsoft clearly demonstrates that Fusion is the only solution capable of enabling organisations to seamlessly move large volumes of critical data to the cloud, without any downtime or service disruption. Unlike on-premise deals, these cloud deals are initially smaller in revenue terms but are expected to scale materially over time as is common with cloud deployments.”
Cash on WANdisco’s balance sheet stands at $18 million.