Sheffield data firm Cirata, formerly troubled WANdisco, is sticking to its FY24 guidance of $13-$15 million in bookings following steady Q3 bookings of $1.7 million.
It has now matched results from both Q2 2024 and Q3 2023, according to its unaudited trading update for the quarter ended September 30.
The company highlighted a major renewal with a global insurer worth over $980,000 and the signing of 16 new contracts, with a focus on Data Integration. it also announced strategic board enhancements with two new Non-Executive Directors and an optimistic outlook for sales and pipeline growth as it continues to execute its Go-To-Market strategy.
Stephen Kelly, chief executive officer, said: “Our sales teams are engaging constructively with our partners as we see an improving ramp in joint leads.
“People familiar with enterprise software will know a small transaction can take as much work as a seven-figure contract.
“Cirata’s strategy includes ‘land & expand’ which we are seeing early signs of bearing fruit with multiple purchase orders from the same customers as their projects deliver successfully.
“As I stated in the quarter two update, we are making good progress, but this is not represented in the headline numbers.”
Shares in Cirata were at a steady 28.95p this morning following the update, some way off the 1310p highs the stock enjoyed before 2023’s much-reported troubles at the data company.
