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Sheffield’s WANdisco blames IoT ‘explosion’ for 74pc revenue surge

David Richards, courtesy TechGirl007/Creative Commons

Sheffield’s WANdisco has reported a 74 per cent revenue rise in its results for the six months to 30 June 2022, thanks to what CEO and chairman David Richards calls an “explosion” in Internet of Things use.

The Yorkshire software and cloud company, which also has offices in California and Northern Ireland, reported that its revenues have climbed to $5.8m (£5m) compared to $3.4m in the same half-year last year, while it also made record bookings of $27.3m/£23.6m, particularly in the telecoms and automotive sectors, more than 10 times the $2.1m achieved in the same period last year. It’s pre-tax profit was £4.3m, against a £17.5m loss last year.

David Richards, CEO and chairman, said in the latest LSE filing: “Looking ahead, the key tasks for us are to remain focused on converting our robust pipeline of opportunities, whilst continuing to improve our operating leverage from our commit to consume sales model. Many of these opportunities are being driven by the explosion in IoT use cases, and we remain confident in our ability to deliver continued strong trading through 2022 and beyond.”

The company notes that it is in line with market expectations for the full year of 2022 and remains well placed to capture significant market opportunities in IoT-driven deals.

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