WANdisco plc Annual Report and Accounts 2020

WANdisco plc

Annual Report and Accounts 2020

WANdisco is

the LiveData

company

WANdisco solutions enable enterprises to create an

environment where data is always available, accurate

and protected, creating a strong backbone for their IT

infrastructure and a bedrock for running consistent,

accurate machine learning applications. With zero

downtime and zero data loss, WANdisco¡¯s products

keep geographically dispersed data at any scale

consistent between on-premises and cloud

environments allowing businesses to operate

seamlessly in a hybrid or multi-cloud environment.

WANdisco has over a hundred customers and

significant go-to-market partnerships with Microsoft

Azure, Amazon Web Services, Google Cloud, Oracle,

and others, as well as OEM relationships with IBM

and Alibaba.

Learn more about our solutions from page 4

Reasons to invest in WANdisco

Contents

Overview

Innovative technology

Significant opportunity

Our technology is based on a

patented, high-performance

coordination engine

Our addressable market is expanding

$9.0m

development spend

Learn more about our innovative

technology from page 12

$1bn¨C

$1.5bn

total addressable market

Learn more about our significant

opportunity from page 9

02 Our year in review

04 WANdisco at a glance

Strategic report

06 Chairman and Chief Executive¡¯s report

08 Our markets

12 Our business model

14 Our partnerships and technology

16 Our strategy

20 Key performance indicators

22 Risks

26 Financial review

28 Sustainability

Corporate governance

32 Board of Directors

34 Executive Team

36 Vice Chairman¡¯s introduction

to governance

37 Corporate governance report

41 Nomination Committee report

Talented people

Strong partnerships

We have an exceptional

pool of talent and we are

committed to excellence

Significant go-to-market partnerships

with Microsoft Azure, Amazon Web

Services, Google Cloud, Oracle, Databricks

and top Systems Integrators as well as

OEM relationships with IBM and Alibaba

180

employees at 31 December 2020

Learn more about our talented

people from page 12

28

partner relationships

Learn more about our strong

partnerships from page 12

42 Audit Committee report

44 Remuneration Committee

and remuneration report

47 Directors¡¯ report

49 Statement of Directors¡¯ responsibilities

Financial statements

50 

Independent auditor¡¯s report to

the members of WANdisco plc

55 

Consolidated statement of profit or

loss and other comprehensive income

56 Consolidated statement

of financial position

57 

Consolidated statement

of changes in equity

58 Consolidated statement of cash flows

59 

Notes to the consolidated

financial statements

88 Five-year record

89 Notice of Annual General Meeting

93 

Secretary, advisers and share

capital information

01

Our year in review

2020 highlights

Financial highlights

Revenue ($m)

Cash overheads ($m)?

$10.5m

$36.9m

10.5

20

16.2

19

19.6

17

11.4

16

16

Cash ($m)

18

23.4

10.8

(0.6)

23.4

(7.5)

20

(28.3)

19

(9.4)

24.5

(34.3)

19

(19.7)

18

18

(13.5)

17

(9.3)

16

17

16

2 Operating loss adjusted for: depreciation, amortisation and equity-settled share-based payment.

See Note 9 for a reconciliation.

27.4

17

16

(11.7)

$(34.3)m

1 Operating expense adjusted for: depreciation, amortisation, capitalisation of development expenditure

and equity-settled share-based payment. See Note 9 for a reconciliation.

21.0

19

20

Statutory loss for the year ($m)

Note: Throughout this document, alternative performance measures have been used which are non-GAAP

measures that are presented to provide readers with additional financial information that is regularly reviewed

by management and should not be viewed in isolation or as an alternative to the equivalent GAAP measure.

See Note 5 for details.

$21.0m

20

(22.2)

29.8

18

17

$(22.2)m

31.7

19

17.0

18

36.9

20

Adjusted EBITDA ($m)?

7.6

Stay up to date with the latest news and investor information at:

Microsoft Azure LiveData Platform launch

Secured a global reseller agreement with

a large global systems integrator

Won a contract with one of the world¡¯s

largest airlines to migrate analytical data

to the Microsoft Azure cloud

Announced Microsoft

product in private preview

Successful share subscription raising

$25m gross funds

February 2020

June 2020

March 2020

Contract worth $1m with

a division of one of the

world¡¯s largest media and

telecommunications companies

02

WANdisco plc Annual Report and Accounts 2020

Operational and strategic highlights

? Go-to-market launch of LiveData

of petabyte scale data lakes to the cloud

and targeting migration of >30 petabytes

of data in FY21

Platform for Azure in Q4 2020:

? Expanded partnerships with data

analytics platforms Databricks and

Snowflake:

? Microsoft has estimated a total

addressable market of 200¨C300 exabytes

of on-premise analytical data. Targeting

migration of >100 petabytes of data

in FY21

? Launched LiveData Migrator on

Amazon Web Services (¡°AWS¡±)

Cloud and achieved Migration

Competency status in Q3 2020:

? Landmark success with launch customer

GoDaddy, seamlessly migrating 500

terabytes of live data featuring 21,000

change operations every second ¨C only

possible through WANdisco¡¯s solution

? Providing AWS customers, a no

downtime, easy and efficient migration

? Growing opportunity to support machine

learning and artificial intelligence in

the cloud

? Post period end announced partnership

with Snowflake, to automate, accelerate

and simplify the migration of on-premises

Hadoop analytics workloads to Snowflake¡¯s

data platform

? Evolution in 2021 towards consumption-

based revenue model ¨C the standard

for the cloud ecosystem:

? With metered billing on Azure, revenue

is shifting from a subscription model

in which revenue is recognised up front,

to a consumption-based model where

revenue is recognised over time

Became the first

independent software

vendor (¡°ISV¡±) to achieve

AWS Competency Status in

the area of data migration

August 2020

with blue chip customers and

partners supports FY21 pipeline:

? Blue chip cloud migration contracts won

with: one of the world¡¯s largest media and

telecommunications companies; one of

the world¡¯s largest airlines; a major British

supermarket; a top three mobile operator;

and one of the largest banks in Africa

? Secured a further $3m contract with

one of the world¡¯s largest media and

telecommunications companies to

migrate an initial 13PB Hadoop cluster

to Microsoft Azure

? Signed a global reseller agreement with

major systems integrator Infosys focused

on migration

? Integrated LiveData Migrator into IBM¡¯s

Big Replicate to capitalise on near-term

opportunity of enterprises migrating off

legacy Hadoop platforms

Go-to-market launch of LiveData

Platform for Azure

AWS contract with one of the top

three mobile operators for $450k

Existing relationship with

IBM extended to integrate

WANdisco¡¯s LiveData

Migrator

October 2020

December 2020

July 2020

September 2020

November 2020

Deal worth up to $1m with

a major British supermarket

LiveData Migrator launch with

Amazon Web Services

New AWS win with large

financial services firm

New contract win with one

of the world¡¯s largest insurers

Announced Global Agreement

with Infosys

$3m initial Azure contract with

major US telecoms company

LiveData Migrator launch

on G-Cloud 12 marketplace

Annual Report and Accounts 2020 WANdisco plc

03

Overview

? Microsoft¡¯s preferred data lake migration

solution, appearing as a native Azure

service with metered billing. Delivering

self-service data lake migration with zero

downtime, disruption and risk

? Meaningful commercial momentum

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