Bookings up 60% at WANdisco

Sheffield-based WANdisco appears to have found its rhythm. The ‘provider of global collaboration software to the software development industry’ listed on AIM at the beginning of June (see here). And according to today’s trading update, H1 subscription bookings were 60% up on the same period last year at $3.4m. The list of new customers is impressive including Ricoh, Pitney Bowes and Huawei, its first sale in China. Renewals are also playing their part – the annualised renewal rate by booking value was 113% as customers added more user licences and sites and committed for longer time periods. Against this backdrop, WANdisco is optimistic about the full year since its second half is traditionally its strongest. The management team is also ambitious and plans to use cash generated in the first half and the $23m raised by its flotation to enlarge its sales team and invest in new products, in particular in ‘the Big Data market’. More when WANdisco’s interim results are released at the end of September…