WANdisco has reported widening losses in its preliminary results despite an upbeat tone sounded by the firm's chief executive.
The Sheffield and California-based business told investors it saw an adjusted EBITDA loss of roughly £24.5m ($29.5m) in 2021, a widening from £18.4m ($22.2m) the year before as revenue fell to £6.07m ($7.3m) from £8.7m ($10.5m).
Boss David Richards said WANdisco had "made significant strategic progress in FY21, reorganising our go-to-market operation and cost structure".
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He added: "Our achievements in Q421 provided a springboard for our new business acceleration into Q122 and we are extremely excited about the significant market opportunities that lay ahead of us for the rest of this year. We are well placed to capture significant opportunities as we look to enter new verticals and capitalise on an expected increase in IoT-driven deals."
Mr Richards also noted the firm had shifted from multi-year subscription contracts to "Commit to Consume" contracts that allows its customers to try the services before adopting them.
He added: "We have also been able to strengthen and expand our partner ecosystem with some of the largest organisations in the world such as IBM and Oracle, who continue to depend on us to support their businesses and their enterprise customers with critical data migrations to the cloud.
"In 2022, the business is focused on continuing the acceleration of business started in H2 2021. As we have announced post period end, we have made significant achievements with major contract wins in the IoT space, in addition to continuing to secure large contracts for replicating on premises Hadoop data to the cloud. With our recent contract wins, unique set of solutions and high visibility of near-term pipeline, we remain confident in our ability to significantly improve results in FY22."
