An excellent set of full-year results sent WANdisco’s (WAND) shares up 6 per cent. The live data company achieved record bookings growth of 45 per cent to $22.5m (£16.2m) for the 12 months to December 2017. This was buoyed by enormous ‘big data’ bookings growth for the group’s flagship Fusion product – up 121 per cent to $15.7m.
Fusion is moving into industries beyond financial services and has announced a new original equipment manufacturer deal with Alibaba’s cloud computing wing. This marks WANdisco’s first such agreement in China.
Both revenue and adjusted cash losses beat analysts’ expectations. The former rose by 73 per cent to $19.6m, while the latter narrowed from $7.5m to just $0.6m. That said, pre-tax losses expanded from $10m to $14m, due to an exceptional currency-related finance cost.
