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WANdisco PLC on Thursday said its annual revenue will significantly exceed market expectations after a $12.7 million contract win.
The Sheffield-based data-management software company said revenue for 2022 is likely to be ‘significantly’ ahead of market expectations, and no less than $19 million.
This is due to the agreement for a $12.7 million contract with an unnamed ‘global European-based automotive manufacturer’.
In 2021, it posted revenue of $7.3 million.
The contract is for ’internet of things’ data to be migrated from the client’s data centre to the cloud. As the deal is for a one-off job, WANdisco expects around 80% of the revenue to be recognised in the current financial year, with the rest to fall into next year.
It also added that bookings for the current year are expected ‘in excess of’ $116 million.
Chief Executive Officer David Richards said: ‘We are delighted to have secured this agreement with a global automotive manufacturer. This contract shows that WANdisco is the preferred choice for customers that want to seamlessly and securely migrate large scale data from on premise and edge platforms to the cloud.’
On Tuesday, WANdisco said it had signed a $31 million agreement with an unnamed, ‘second tier 1 global telecommunications supplier’.
WANdisco shares were up 0.9% at 875.00 pence each on Thursday morning in London.
By Xindi Wei, Alliance News reporter
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