Substantial cash balance provides capacity to invest and build a sustainable long-term recurring business
Revenue of $3.4 million (2020: $3.6 million).
In H1, significant progress in building a pipeline of multi-year commitment deals
Confident in the groundwork laid for acceleration in customer wins going forward.
EBITDA loss from operations $14.2 million (2020: $11.9 million).
Reflecting increased cash overheads to invest in key go-to-market and engineering resources.
Strong balance sheet provides platform to capitalise and accelerate conversion of cloud opportunity.
Cash reserves of $47.7 million at 30 June 2021 and no debt following $42.4 million fund raise
Current cash balance as at 17th September $40m
Headcount of 187 at 30 June 2021 (180 at 31 December 2020).
Increases primarily in Sales and Marketing, and Engineering - strengthening capacity to service our partner channel and develop new products
With increasing 'Commit to Consume' pipeline, a new KPI of Remaining Performance Obligation (RPO) is an important KPI used by most consumption companies. (RPO equals deferred revenue plus any committed contractual revenue.)
The growing 'Commit to Consume' pipeline provides the Board with confidence about the outlook.
Board now expects revenue plus RPO (Remaining Performance Obligation) of >$18m at the end of the year.
WANdisco plc published this content on 30 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 September 2021 15:51:02 UTC.