WANdisco - Record win with existing telecom customer

WANdisco (WAND) announced its largest ever contract today, a commit-to-consume agreement valued at $11.6m with a top 10 global telecoms company. This contract is the third the customer has signed since its initial agreement in March 2022, and it has now entered into agreements worth a cumulative total of $14.3m. This progression of contracts displays the scalability of WAND’s commit-to-consume model. Furthermore, LiveData Migrator’s (LDM’s) ability to facilitate multi-cloud strategies (moving data from one cloud provider to another) is a key selling point, as customers want the flexibility to move data across multiple providers like Microsoft Azure, AWS and Google Cloud. As we discussed in our recent note, we look for WAND to continue building on this momentum in contract wins and our estimates for FY22 may be conservative. The H1 trading update will give us more visibility and we expect to revise our estimates at that stage. However, it does look like WANdisco’s product set and partnership are now aligned to address a very large market opportunity and a continuation of the deal flow momentum seen so far this year would also lay the platform for accelerated growth into 2023 and beyond.