LONDON (ShareCast) - (Sharecast News) - Live data company Wandisco warned on Tuesday that full-year revenues would be below expectations due to some delayed deals.
Wandisco said revenues for the year ended 31 December 2019 were now expected to be approximately $16m but added that it had maintained a "strong year-end cash balance" of $23.3m, which the board was confident would enable it to achieve cash-flow breakeven.

The AIM-listed group said a small number of "significant deals" had slipped into 2020 and now supported its continued confidence of meeting market expectations in 2020.

The majority of the delayed deals were within Wandisco's growing Microsoft channel, where customers elected to wait for public availability of its embedded Azure product, Fusion Resource Provider.

Chief executive David Richards said: "2019 was a significant year for Wandisco.

"While 2019 did not meet our financial expectations, the product and strategic progress is significant, and we enter 2020 more confident than ever."

In a separate announcement, Wandisco said its jointly-developed solution with Microsoft, Fusion Resource Provider, had entered its first critical phase of customer deployment, the "private preview" phase. The product was expected to enter public availability in the first quarter.

As of 1040 GMT, Wandisco shares were down 6.21% at 401.40p.

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