WANdisco, the Sheffield-based software company that suffered a torrid 2014 on AIM, said major companies were beginning to adopt its ‘big data’ technology yesterday.
In a trading update the company said it signed contracts for the new service worth $2.1m in the fourth quarter, compared with zero a year earlier.
Dave Richards, WANdisco’s founder and chief executive, said its first contract expansion by an existing customer was “particularly encouraging”. Its largest-ever big data customer, British Gas, also signed a $750,000 deal in the quarter.
But the company has a long way to go to recover the losses suffered by its shareholders last year. The shares were as high as 1390p in February and as low as 255p in October.
In spite of the positive update yesterday they slid 5.1pc to close at 463p. Analysts said sales of WANdisco’s Application Lifecycle Management software, which monitors software development, were the “fly in the ointment with a relatively large miss versus expectations”.
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