Progress on all fronts

WANdisco delivered 73% growth in bookings in H1 while reducing cash costs by $1.4m and moving close to cash flow break even, highlighting the scalability the company has added to the model. The IBM OEM partnership was key to this acceleration but partnerships with other tier one technology companies are also progressing and could provide a further inflection. We have upgraded our FY17 bookings and revenue estimates by 6% and 9%, respectively, and forecast positive cash flows from here. The addition of more tier one strategic partnerships could be a catalyst for further upgrades.