LONDON (ShareCast) - (Sharecast News) - WANdisco reported a widened interim loss on Wednesday as operating expenses jumped following new hires in sales and engineering.
The software company booked a loss before tax of $16.7m for the six-month period ended 30 June compared with a loss of $11.3m in the same period a year ago, as operating expenses rose 26% to $22.1m.

Expenses rose as headcount increased from 138 to 152 as new employees were hired in sales & marketing and engineering, with the AIM-traded company looking to improve development of new products and service its partner channel.

Revenue increased 4% to $6m as WANdisco secured two contracts in China worth $2.9m, which it said reflected growing opportunity in the region.

WANdisco issued full-year revenue guidance of $24m. This comprises renewals, late-stage deals and a pipeline of partner-driven sales and is underpinned by strategic partnerships that were initiated during the second half, it said.

Chief executive and chairman David Richards said: "Our technology and go-to-market platform is building critical mass, with our breakthrough co-development deal a flagship example of the operational leverage developing within our business.

"This strong platform for growth and evolving pipeline of late stage deals in the early months of H2 leaves us in a strong position, underpinning the board's confidence in H2 and beyond."

Dan Gardner, market analyst at Edison, said the results fell short of estimates but that the company's strengthened partnerships with key cloud partners demonstrate it has made strategic progress that underpins FY20 momentum.

WANdisco shares were down 7.50% at 481.00p at 1258 BST.

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