WANdisco (WAND); preliminary results: reports revenue of $17.0m for the year

Published on 24-04-2019 08:12:12
Author Sparks Team

WANdisco reported revenue of $17.0m for the 2018 financial year (2017: $19.6m). Revenue for the second half of the year increased 13% to $11.3m. That said, WANdisco reported both an adjusted EBITDA loss of $9.4m (2017: $0.6m) and an operating loss of $22.1m for 2018 (2017: $9.7m).

As of 31 December 2018, WANdisco had cash of $10.8m (2017: $27.4m) and debt of $3.9m (2017: $4.0m). WANdisco also reported strong progress in Q1 2019 with revenue of $4.0m, up 38% YoY. Cash balance as of 12 April 2019 was $24.4m. On 14 February 2019, the company also completed a fundraiser, raising gross proceeds of $17.5m.

David Richards, WANdisco’s CEO and Chairman, said, “This has been an important year for WANdisco, with substantial progress in both partnerships and product to unlock the significant potential in cloud computing. We have significantly extended our relationship with Microsoft, gaining co-sell status that allows our WANdisco Fusion platform to be sold as a standard offering with Microsoft’s Cloud Solution, Azure.”

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