LONDON (ShareCast) - Deferred revenue and net cash were well ahead of expectations at Big Data software provider WANDisco, although losses in the current year are expected to increase as headcount swells.

Along with its result for 2013, the AIM-listed company announced a sizeable contract for its Non-Stop Hadoop for Hortonworks to help support British Gas's roll-out of smart meters.

Bookings rose 86% to $14.8m at the Sheffield-based company, with deferred revenue more than doubling to £13.1m.

Operating losses more than doubled to $7.8m as the group headcount has risen from 90 to 147 by year end and the board said it will increase investment in people in 2014 as it grows.

The company improved its corporate governance as it split Dave Richards' role as Executive Chairman to allow him to slip back into pure Chief Executive mode, with non-executive director Paul Walker promoted to Chairman.

Looking forward, Richards said: "Success in Big Data in 2014 will be defined by the number of enterprise customers deploying Hadoop, underpinned by our non-stop technology. These will be highly strategic deals for WANdisco and over time, as these customers move into full production deployments, we anticipate they will scale into broader enterprise implementations."

House broker Panmure Gordon has made minor 'course correction' changes to its 2014 estimates, primarily an increase in operating losses to $13.9m due to headcount changes.

Shares in WAND were up 1.5% to 1,292.5p at midday on Thursday.

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