WANdisco: Good Progress Continues
Edison | Apr 24, 2017 08:40AM ET
Encouraging progress looks to have continued in Q1 with WANdisco PLC 1 (LON:WAN2) (WAND) securing a $4.1m deal with a multinational financial institution and with the business operating at cash flow break-even. The launch of Fusion V2.10 is significant in that it expands WANdisco’s replication to cover mainstream file storage, enlarges the company’s addressable market and strengthens the proposition General Purpose Replication Platform.
IBM (NYSE:IBM) brings in largest ever financial services deal
The highlight of a brief Q1 business update (24 April) was the announcement of a $4.1m deal with a multinational financial. The deal came in through the IBM relationship so cash will be collected in Q2. No further update on Q1 trading was provided as management believes the lumpy nature of bookings could lead to quarterly booking being misinterpreted. Nevertheless, the company did highlight that both the order book and pipeline are strong and with at least $4.1m booked already, WANdisco should be well on track to meet/beat our FY $20.5m bookings estimate. Encouragingly, the company did not burn cash over the quarter, with net cash steady at $7.6m supported by the collection of receivables from Q4, cost efficiencies and R&D tax credits.
To read the entire report Please click on the pdf File Below
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.