Confirming earlier indications WANdisco revenues in the first half of 2018 were $6.6m, down 32 percent on the same period a year ago.
It blames the decline on its transition from selling product licenses to a subscription model, which will give it annual recurring revenue from cloud deals. It’s still confident of making its revenue target for the year.
The company supplies replication software for sending active data to the cloud, and has an OEM deal with IBM. The royalty rate in this deal is increasing from 30 to 50 per cent and it has a joint development with IBM to support IBM BigSQL and other products, expanding the total addressable market.
Other encouraging news to set against the revenue fall includes an initial $200k contract win with an unnamed automotive customer. The contract is structured under the recurring revenue model and expected to grow to a multi-million dollar annualised value over the coming years.
WANdisco has announced an OEM sales partnership with Alibaba Cloud and the first product is now integrated with Alibaba’s offering.
Dr. Sakthi Subramanian has joined WANdisco as its VP of Engineering and the company has filed a blockchain patent. This could, it says, potentially open a significant new market for WANdisco’s core replication technology.
IBM is keen on blockchain technology as a means of validating data sent between different parties, and there seems a natural fit with replication; replicated data could carry blockchain verification. B&F