Replicator WANdisco is reporting massive growth – albeit from a relatively low base – in the first half of 2022, following a flurry of contracts wins.
The company’s LiveData Migrator (LDM) software replicates so-called live data, typically from an on-premises source to the public cloud. It’s live data because the source data set is being updated while replication is taking place. WANdisco’s technology manages this so there is no downtime and updates are replicated as well. LiveData Migrator for Azure (LDMA) is a native Azure service that enables users to migrate petabyte-scale Hadoop data and Hive metadata to the Azure cloud with the promise of no loss of data consistency.
WANdisco chairman and CEO Dave Richards said: “Following the general availability of our LDM and LDMA products, the first half of this year has been a transformational period.
“Looking ahead, the key task for us is to remain focused on converting our robust pipeline of opportunities. Many of these opportunities are being driven by the explosion in IoT use cases, and we remain confident in our ability to deliver continued strong trading through 2022 and beyond.”
This is being helped by partnerships with Snowflake and Databricks.
The company reported revenues of $27.3 million for the first half of 2022 ended June 30, compared to the year-ago quarter’s $2.1 million. Ending RPO (Remaining Performance Obligations) at the end of the first half is expected to be approximately $31 million as of June 30, up significantly from last year’s $3.5 million.
WANdisco had cash of approximately $32.5 million and $13.1 millions in trade receivables at the end of the first half.
We have recorded multiple contract wins by WANdisco so far this year:
- April – Signed a contract worth $213,000 with a PC vendor for the LiveData Migrator (LDM) to migrate a subset of data from the existing Hadoop environment to cloud-native systems that can be run in the public cloud
- April – Agreed to a pre-pay license deal with Oracle worth $150,000. This was an initial rollout across a couple of Oracle customers
- April – Signed a Commit-to-Consume contract worth $720,000 with an existing customer, a top 10 global retailer
Up until now WANdisco has not generally met the promise of its technology, recording revenues that haven’t sparkled. For example, 2021 revenues of $7.3 million were down from 2020’s $10.5 million. At the time Richards said: “With our recent contract wins, unique set of solutions and unique set of solutions and high visibility of near-term pipeline, we remain confident in our ability to significantly improve results in FY22.” How right he was.