WANdisco - IoT migration win prompts upgrades

WANdisco’s $12.7m data migration deal with a global automotive manufacturer further strengthens the company’s position in the rapidly evolving automotive sector. It also highlights the central role that WANdisco plays in enabling data-centric Internet of Things (IoT) strategies. While the one-off nature of this contract means that the lifetime value of this deal is likely less than the recently announced large commit-to-consume deals, it is still very significant in size, prompting further upgrades to our bookings and cash estimates. The faster revenue recognition of this deal supports meaningful upgrades to revenues and reduced forecast losses.