WANdisco’s H1 success story (see here) has rolled over into the second part of the year with subscription bookings up an impressive 86% year on year to just over $2m during Q3 (to September 30) and there is probably more to come as the collaboration software company says Q4 is usually its strongest quarter due to high levels of renewals. It may be small in revenue terms ($2.92 in H1) but WANdisco, who floated on AIM in June, has so far turned out to be a sweet little performer.
It has continued to pull in new customers, with Q3 wins including Nokia Siemens Networks , Polycom, Northrop Grumman, Manulife Financial, DragonWave, Harmonic and Home Depot. Dell and Research in Motion extended their use of its products during the quarter. The annualised renewal rate by booking value was 117% from a renewal rate of 114% in H1. There’s more to come from WANdisco. With its Syntevo acquisition (see here), and plans to move into the big data market in some form, it has signaled that it is not going to be a one trick pony. With IPO cash in hand, it has to be careful not to diversify too quickly or too widely though.