WANdisco - Placing, FY19 results and forecast update
WANdisco has raised $25m (gross) through a placing of 3.1m shares at 650p. The proceeds will cover the investment needed to embed LiveData with other cloud vendors while sales from Microsoft Azure build. The accompanying publication of FY19 results enables us to update forecasts. COVID-19 related delays to the Azure revenue ramp lead us to lower FY20 revenues from $28m to $20m; EBITDA losses widen from $5m to $11m. As our recent update note highlighted, WANdisco still expects to sign more than 50 new customers on this platform over the next 12 months. We will introduce FY21 forecasts as visibility on the growth trajectory emerges.
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- WANdisco - Placing, FY19 results and forecast update15 Jun 2020