Member Info for Walkley

Price 6th October was 495p - don’t remind me!!

Almost 2 months since last half year ended and no trading statement ( last year was issued 11 July). New CEOs have been known to “kitchen sink” their first update blaming the previous management for the difficulty of the task ahead. Though what any trading statement or first half results (last year 6th Sept) will do to the sp is anyone’s guess.

Company has issued 47 million more shares since share price was £3-£4 and the turnover is still less than $10m. New CEO said would announce even small contracts, but since beginning of July have been no announcements and that one was for less than $10k. I will wait for some actual results that so there is a significant demand for their technology before getting back in.

From the Annual Report: "Any new sales executives joining the business, in a rapidly changing marketplace, may take longer than expected to reach full productivity in concluding sales transactions." Think you should wait until at least the end of the year before considering getting back in.

A Wandisco salesman must have a job getting his or her foot in the door “Wandisco , we had a chap from you last year. Told sorts of lies, said I had agreed an order, nearly got me fired” Name change urgently needed - but the potential customers aren’t daft- will be a very difficult job to get any business at all.

Unlikely to be new orders in August. Everyone is away and after the fake orders debacle will have to be real - signed and sealed. CEO has said will report even small orders and the last one was just over $7k on July 11th. Should have held the AGM at the end of September.

According to the placing document Wandisco is aiming at 10% of a $2bn market. Gross margin is expected to be 85% and overhead costs likely to be 65% of revenue. So IF market is $2bn and IF Wandisco gets 10% of the market (current share is $9.8m out of $1.4bn) and if costs and margin are correct Wandisco will be making $40m a year. BUT that is in 2028 -5 years away.

Why no trading update for H1? Until the bad news is out of the way cannot see a reason to buy back in.

Whilst H1 results last year were issued on 6th September there was an update about the results on 11th July - Sorry to be negative, but can't help feeling that if the news had been good we would have received an update before now.

From the Annual Report: "The Company’s eleventh AGM is to be held at 10am on 30 August 2023 at Brown Rudnick’s London office."

As a former LTH I sold at 120p - 70p more than I expected. Whilst I accept they have a new CEO, even if he is a miracle worker there won't be any positive news for at least 6 months - the H1 results, judging by the contract announcements, will be awful. Will wait until the bad news is out of the way before thinking about getting back in though accept might Miss Out if it does come good.

"WANdisco has a history of under-performance when generating sales bookings and revenue despite the strength of its market leading technology.' says Stephen Kelly. With acash burn of over $2m per month, I think investors will need to actually see some evidence that this has changed.

I think you should wait until they publish the first half results (or overdue trading update). However good things will be in the future the results for H1 are likely to be awful. Post results might be the buying opportunity you want.

not a shorter - just a bit ****ed of that having watched share price double from original buy at £6 shares now worth £1! if this industry works so well why isn't wand's revenue more than £10m?

Am not sure what the fundamentals the more enthusiastic posters here are relying on. No 1st half trading statement. Very few contract wins (genuine ones) in the 1st half. Will take some time for the new management to start achieving anything. 50p seems about right for now until the new management actually start to show results, which realistically won't be before this time next year.

Is insider trading now allowed? The fact that CEO is an advisor to Blackrock will probably stop them buying!

Actually you said had persuaded your wife to buy at 120p

What are the fundamentals? Turnover has almost halved in 5 years and operating loss virtually doubled. Watched the video and was a long list of impressive orders all of which were fake. Turnover this half must be well down again judging by the few contract announcements they have made. With staff numbers slashed how are they going to get new business? £50m -£60m market cap (about half today's) seems about right until things start to happen!

Last year was a trading update for the 1st half on 11 July - will be interesting to see if get one this year and what it says. Might be wise to hold off until after the update, if it comes. The last contract win was for $7,680.

I watched the video but in the real world only 3 contacts have been announced since the "slight problems" were announced. They were:

BMW two contract renewals are expected to deliver USD 1.5 million in revenue to WANdisco over the next five years. renewal runs for a two-year period and is valued at $200,000, £7,680 with FordDirect for WANdisco's Data Migrator product.

A total of £1,335,000 ( and some of that over 5 years!) -where is the new business?