Member Info for Hastings74

Pearls, I really appreciate your posts.

Q1 is good start, but we need new customers. SK can't rely on renewals of old Wandisco accounts.

The cash burn reduction is really great, but why did it take him so long to figure out that most of the dead weight had either a CRO, VP or Director title?

Where are the deals from Q4? Slipped again?

The strategy change, I do agree that the partner model never really took of and never will... but do you know how long it takes to get a decent enterprise sales guy? Add the average sales cycle and we have at least a 6 month runway...

I just think something like Cirata is not really SK's sweet spot, hiring all the new directors did not bring any fruits.

35 inbound leads in 3 month?

An aerage Saas company has a conversion rate of 8%, let's say 10%....3.5 projects won't steady Cirata financially.

If they would only give us a little bit more transparency.

-Average deal size DI.

-Sales cycle

If it doesn't come in in first 6 weeks of the bext quarter, it was never a slipped deal. Just poorly qualified.

Pearls...

Name a major net new customer (anything over 500k) that was signed during SK's reign.

Happy Easter!

Overpromising and underachieving plus you can't really tie any of the sales activities to SK.

All significant were renewals or minor expansions with exitsting customers from the Wandisco days.

Happy Easter!

Guys please...

The SP wasn't really soaring high yesterday, I guess the market doesn't buy the stories anymore.

Why the change in strategy?

Why are there no substantial net new customers?

This is not personal, I doubt that a company of that size should have a BOD of that calibre (package wise).

Happy Easter everybody!

Apologies for the typos and of course it should say US cloud alternatives

As I said before, a renewal.

None of that of that business was generated by SK.

Tesco, GM, Bank of A. didn't buy Wandisco/Cirata because of some shiny Linkedin posts.

Kudos to the CS team and to Ciratas technical staff.

I'd like to see some big new logos, significant deal sizes, not renewals with customers who relued on Wandisco for years.

And the story about 35 inbound leads, virtually none before. Come on... I do understand why the former Marketing VP, hired by SK, doesn't even mention Cirata on her CV...

We've seen tons of videos where we've been told that it's all about partners. I always emphasized, that all the bild partnership announcements that Wandisco made, never really took off.

Now suddenly the focus is on direct business again.

That's confusing. Now Chris Cochran can't do his job and SK needs to hold his hand?

If you look what's going on in the US, there should be a big market for them, with European companies asking for Non-US cloud alternatives. Not talking about Alibaba 😅...

Where are they, when it comes to sovereign cloud offerings? Their solution should be ideal, sell it as a gateway out of the US clouds... Something like.

Any announcements in that direction would raise my spririts.

DI seems to be cool, but it looks more like a easy to deploy solution for smaller customers, and we haven't seen loads of deals.

I think the clear cut regarding cist reduction and letting some managers go, was more than a year overdue.

And yet the market doesn't seem to buy it.

Still asking, where are those millions from Q4?

Happy Easter everyone 🤗

No matter what your believes are.

Just a few thoughts that crossed my mind while reading one of the press releases.

--- DI might be the future, but the deal sizes are not too impressive right now.

--- Land and expand seems to work, bur if you look at the major accounts 'mentioned' (Tescx and Bank of A., GM), these are renewals or extensions, all signed the first contract during the Wandisco days.

Yes, it shows confidence that they stick with them, but I'm missing a new big logo with a decent value.

The UAE migration is not even 500GB if you reverse engineer the pricing from the Wandisco announcements.

-- Cash burn heavily reduced compared to Q1/24. Wow, impressive, but it took them quite long to do that. No, I'm not starting the 3 CRO discussion again, but you see my point. It wasn't probably the smartest idea to hire an expensive BOD, VP's.CFO, who left the company without a significant impact.

-- "The company said it was moving away from partner-centric roles in favour of enterprise-focused executives as part of its plan to improve sales productivity and shorten sales cycles." That seems like a drastic strategy change, weren't they fully on the partnership trip before? It did never work for Wandisco, and it looks it doesn't work that well for Cirata,

Don't get me wrong, sales and management is sometimes a trial and error thing, but some of this could have been avoided.

--- Chris Cochran is based in Texas, he's the fricking CRO, does he really need SK to tell him how to sell in the US?

Some of these points might be the reason why the SP didn't really take off. Who knows...

I'm sure tomorrow morning someone will call me a deramper, fud spreader.

I thought it'll go above 20p.

What do you think?

Decent update, hope they keep the momentum.

The DI deals seem to be rather small, might just be the nature of an easy to deploy solution.

Great news on the cashburn rate.

Without the renewal wouldn't look so good.

The GM deal, first step was negotiated December 2022 is a migration deal. Ford ADAS architecture doesn't include Cirata.

Given the volume of data for ADAS or Autonomous driving project, any real engagement in that space should have shown in the numbers.

Tesco/Bank of America were renewals.

Still a bit of hope left, that DI will save the ship...

Shame, that they are not part in any of the big ADAS or AV deals...

One deal in that space would change everything significantly.

Cirata is not AI, they move data. Got it?

Let's wait for the numbers.

Can someone help him?

Spratt. Facts. Not fiction.

Spratt.... please. Cirata isn't an AI company, although everyone claims to be these days.

They move data, mainly Hadoop. That's bout it. Data fuels AI, that's about it.

If their tech was so unique, we would see more sales.

As I said before, I bought some share when they were still called Wandisco, lost a bit of money.

I even topped up when SK joined, because I was hoping for an uplift.

I don't know much about the stock market, but anyone who has a bit of an insight into software, forecasting can tell you that the whole slipped deal narrative is BS, the same goes for selling renewals as new deals, don't get me started on the withdrawl of the financial guidance last december.

There is still a bit of hope left that DI sales might turn this around.

Well said, anybody with a bit of knowledge about forecasting knows that there is something off...

Where are those opportunities that gave SK the confidence to promise us millions last FY?

Was that even real? I don't think so.

A few other observations: 36 inbound leads in 90 days is nothing, I would be ashamed to admit that that it was almost zero, after 20 months of SK and his team leading the company.... An expensive VP for marketing and communication, who did what exactly?

What were (or are) they doing all day long?

And as of now, I haven't seen any proof of new deals coming in, just renewals. That's worrying.

DI might be their last hope, but again, that should reflect in the numbers, no sign so far.

Wandisco/Cirata (same company, same offering, changed a few heads, but that's it) never had a good reputation...

Enjoy your weekend, let's see what next week brings...

I'm not talking about fraud here, but withdrawing the financial guidance so close to the end of the FY is not a good sign.

A heightend sense of accountability? 🤣 Gimme a break.

Speaking about previous management: He did not get rid of all the Wandisco management (UK based CRO, a few VP's)... also some of the new hires VP Marketing / CFO didn't last that long and given the story about the numbers of leads you wonder what she actually did, except cashing iin...

Good night

Agrreed Spratt and probably too greedy...

But Wandisci and Cirata share a history of overpromising and underachievjng.

Let's hope that chnages now