It only joined the AIM in June 2012 but we have already come to expect impressive performance from WANdisco because of its focus on high availability software which supports big data and distributed software development.
Its FY12 results (to 31 December 2012) did not disappoint, with revenue up 56% to $6.03m and subscription bookings up 71% to $7.92m. Operating losses also increased substantially from $1.15m to $8.54m but that was always going to be case given the cost of the IPO and post IPO business goals. These included sales and marketing and product expansion, which it is delivering on e.g. the Hadoop big data-boosting AltoStor acquisition (see WANdisco acquisition: stocking up on big data).
One metric stood out from the results. Despite being a UK-based company, North America is WANdisco’s biggest market contributing $5.28m in terms of revenue. Europe generated just $589,000, most of which we expect came from the UK. This adds to our growing perception that the UK big data market has not really got started despite suppliers bringing solutions to market. One of the problems is that the concept of big data and big data analytics can be applied almost universally, making it hard for organisations to know how to get started. Some organisations are investing though – it was good to hear that WANdisco has secured its first customer for its Hadoop big data solutions, a tier 1 UK telecoms operator with a global footprint.
In our view, suppliers need to get to work on task and industry-specific solutions a lot earlier in the technology lifecycle than is usual if they are to stimulate a sector that has the potential to be huge.