bullish

WANdisco plc

WANdisco - Multiple IoT deployment wins lead to upgrade

349 Views12 Jan 2023 16:30
Issuer-paid
SUMMARY

WANdisco’s (WAND’s) FY22 trading update confirms that both momentum and the pipeline remain exceptionally strong, with bookings of $127m (up by 967% y-o-y, Edison $116m) and revenues of at least $24m (+230% y-o-y, Edison $19.0m). We raise our FY23 bookings and revenue estimates by 8.3% and 7.1% respectively. The fact that WAND’s pipeline remains at record levels, even after the conversion of recent deals, indicates that deal flow momentum is likely to sustain the risk to estimates on the upside.

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