WANdisco plc: Preliminary unaudited results for the year ended 31 December 2016
March 08 2017 - 2:00AM
Business Wire
WANdisco (“WANdisco”, the “Company” or the “Group”) (LSE:WAND),
the world leader in Active Data Replication™ announces preliminary
unaudited results for the year ended 31 December 2016.
Financial highlights
- Total bookings for the year increased
72% to $15.5m (2015: $9.0m)
- Big Data and Cloud bookings rose 184%
to $7.1m (2015: $2.5m)
- ALM bookings rose 29% to $8.4m (2015:
$6.5m)
- Revenue for the year rose 4% to $11.4m
(2015: $11.0m)
- Cash overheads1 were reduced by $11.2m
to $23.4m (2015: $34.6m)
- Adjusted EBITDA2 loss was more than
halved to $7.5m (2015: $16.0m loss)
- Cash at year-end of $7.6m (31 December
2015: $2.6m)
- Cash burn reduced to $0.2m in Q4 2016
(Q4 2015: $6.9m)
- Debt-free as at 31 December 2016
Operational and strategic highlights
- Added 15 new Big Data and Cloud Fusion
customers for our patented WANdisco Fusion (‘Fusion’)
technology
- Significant progress achieved in
developing our channel partner network
- Strategic partnership agreements now in
place with IBM, Amazon and Oracle, and seeing good contract
momentum as a result of these channel partners
- Secured landmark IBM OEM agreement for
WANdisco Fusion
- WANdisco Fusion is now ideally
positioned to leverage the rapid growth in the Big Data and Cloud
markets
- Major contract wins include:
- $1m order for Fusion to be deployed as
part of Dubai’s Smart City Project through partnership with Hewlett
Packard Enterprise
- $1.5m order for Fusion from a major US
Bank in association with Oracle
- $1m order for Fusion from a major
multinational automobile manufacturer in association with IBM
- Renewed sales focus generating positive
margin contribution from ALM product set (ALM now referred to as
Source Code Management)
- Filed 8 new patents (both US and
foreign) and had 6 US patents issued in 2016
- Strong order book and sales pipeline
going into 2017
1 Operating expenses, excluding amortisation and
depreciation, exceptional items, equity-settled share-based payment
and capitalised product development costs – see note 5 2 EBITDA
loss excluding exceptional items, equity-settled share-based
payment, capitalised product development costs and
acquisition-related items – see note 5
David Richards, Chief Executive Officer and Interim Chairman
of WANdisco, commented:
“Over the past year, as the Big Data and Cloud markets have
continued to expand, we have seen global enterprises increasingly
require the ability to move large volumes of data at speed across
both on-premises and cloud environments. WANdisco Fusion is the
only solution available in the world that enables the replication
of continuously changing data, whilst guaranteeing this data is
continuously available, consistent and delivered with zero business
disruption.
“As a result of this significant expansion in our core Cloud
markets, our total bookings increased by 72% during 2016 and 97% in
Q4 2016. Our OEM with IBM, as well as our other channel
relationships, have been central in driving new business, by
enabling us to take advantage of this market opportunity whilst
reducing our operational cost base throughout the year. This has
resulted in a $11.2m reduction in overheads and a halving of the
EBITDA loss from 2015 to 2016 bringing us much closer to cash flow
breakeven.
“We continue to build on this momentum with a strong new
business pipeline which, combined with a significantly reduced cost
base together will further underpin our progress towards
profitability.”
A webcast of our results presentation will be available on our
website later this morning: https://www.wandisco.com/investors.
WANdisco will also be holding a presentation for private and
retail investors at 4.00pm on Thursday 9 March 2017 at No.1
Cornhill, London EC3V 3ND. Admittance for the event is strictly
limited to those who register their attendance in advance. For
further information and to register attendance, please contact Vigo
Communications via email on wandisco@vigocomms.com.
About WANdisco
WANdisco is the world leader in Active Data Replication™. Its
patented WANdisco Fusion technology enables the replication of
continuously changing data to the cloud and on-premises data
centers with guaranteed consistency, no downtime and no business
disruption. It also allows distributed development teams to
collaborate as if they are all working in one location. WANdisco
has an OEM with IBM as well as partnerships with Amazon Web
Services, Cisco, Google Cloud, Hewlett Packard Enterprise,
Microsoft Azure, and Oracle to resell its patented technology.
WANdisco also works directly with Fortune 1000 companies around the
world to ensure their data gives them the real insight they
need.
For additional information, please visit www.wandisco.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20170307006606/en/
For further information, please contact:WANdisco plc
via Vigo CommunicationsDavid RichardsChief Executive Officer
and Interim ChairmanorErik MillerChief Financial OfficerorVigo
CommunicationsJeremy Garcia / Fiona Henson / Antonia Pollock,
+44 (0)207 830 9707www.vigocomms.comorStifel (Joint
Broker and Nomad)Fred Walsh / Neil Shah / Ben Maddison / Rajpal
Padam, +44 (0)207 710 7600orUBS (Joint Broker)Rahul
Luthra / Sandip Dhillon, +44 (0)207 567 8000
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