WANdisco - Transitioning to consumption-based model
WANdisco’s (WAND’s) FY21’s results reflect its transition from a subscription-based to a consumption-based model. As expected, revenue fell to $7.3m versus FY20’s $10.5m. As part of its transition, WAND announced two new KPIs: bookings and remaining period obligations (RPO, a forward-looking measure of revenues). In FY21, bookings grew 17% y-o-y to $11.9m, while RPO rose 92% y-o-y to $9.4m. The FY21 results were driven by multiple factors, including the general availability of LiveData Migrator (LDMA), several sizable contract wins across the globe, new business from IoT providers, the reorganisation of its sales team and strengthening of its partner ecosystem with firms such as IBM and Oracle. As we discussed in our recent note, we look for WAND to build on this momentum in bookings and RPO, and expect that its H122 results will be a greater catalyst for the stock. Consequently, we wait to revise our forecasts until the H122 trading update.Wandisco Plc is engaged in the development and provision of global collaboration software.
Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.
.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.