Wandisco secures record bookings in H1

Data activation platform operator Wandisco said on Monday that it had secured record bookings of $27.3m in the six months ended 30 June as it witnessed accelerating commercial momentum with multiple multi-million dollar contract wins.

Wandisco said first-half bookings had grown 1,200% as it secured a number of "significant contract wins" for its LiveData Migrator and LiveData Migrator for Azure solutions both directly and via key cloud channel and principal analytics partners.

The AIM-listed firm stated ending remaining performance obligations were expected to be approximately $31.0m as of 30 June - up significantly from the $3.5m registered in the same period last year.

Wandisco added that it had ended the half with "a strong balance sheet", with cash of approximately $32.5m and $13.1m in trade receivables at the end of the period.

Moving forward, Wandisco said the high visibility and robustness of its near-term business pipeline underpinned its confidence in being able to maintain its recent strong trading performance throughout the remainder of 2022.

Chief executive David Richards said: "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."

As of 1050 BST, Wandisco shares were up 3.18% at 301.30p.

Reporting by Iain Gilbert at Sharecast.com