WANdisco’s proprietary replication technology enables its customers to solve critical data-management challenges created by the shift to cloud computing. It has established partner relationships with leading players in the cloud ecosystem including Oracle, Amazon, IBM and Microsoft.

We have withdrawn our estimates following WANdisco’s announcement that management investigations have discovered potentially fraudulent irregularities with regards to received purchase orders and related revenue and bookings. These irregularities give rise to a potential material mis-statement of the company’s financial position and may significantly impact the company’s cash position and lead to going-concern issues. The board warns that FY22 revenue could be as low as US$9m versus at least US$24m anticipated in the January trading update. Due to the nature of the ongoing investigations we have not been able to speak to the company since the announcement.