WANDisco sees huge bookings growth and closes $25m deal with global customer

Data management software operator WANDisco has generated a significant rise in bookings to $34m (£30m) in the last quarter.

The move is a 2,382% year-on-year increase - a record quarterly performance driven by multiple multimillion-dollar contract wins. Investors were told the Yorkshire firm, which also has operations in California, had closed a $25m (£22.5m) agreement with a "top ten global communications customers".

The follow-on deal is the fourth with the same customer and will help it manage smart meter data and Internet of Things (IoT) data needs in the automotive sector. Another follow-on agreement worth $7.1m (£6.4m) with a European automotive components supplier was also secured.

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David Richards, CEO and chairman of WANdisco, said: "The contracts signed during the period provide further evidence of our confidence that we have the right product, at the right time with a commit-to-consume revenue model which is resonating with customers. A number of the customers we have won during 2022 and those in our pipeline have scope for significant expansions as services around the data collected are rolled out.

"We remain confident in demonstrating further progress over the remainder of the year both in terms of consumption and further client wins. At this nine-month mark of the year, our bookings performance has already exceeded current market consensus estimates for the year. As such, we now expect bookings for the year as a whole to be meaningfully ahead of current expectations, underpinned by our confidence that further bookings progress will be made as we move through the fourth quarter."

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