WANDisco PLC has published its results for financial year 2022, which were delayed after the firm said in March it had found signs of possible “sophisticated” fraudulent activity.
The Sheffield-based data migration platform firm said revenue for the year to 31 December 2022 rose to US$9.7mln from US$7.3mln. In January, the company had forecast revenue of not less than US$24mln.
Pre-tax loss narrowed to US$28.4mln from US$38.8mln while loss per share was US$0.45 compared to US$0.65 the year prior.
Interim chief executive officer Stephen Kelly described 2022 as a “wasted year”.
But “having got off to a bad start, FY23 will be different”, he pledged.
“I am determined that it will serve as a real transition year towards a sustainable, growth-focused future for our business.”
He said the “early results of our turnaround plan show we can bring this focus to bear”.
The firm said on Wednesday that a US$30mln equity raise would be confirmed next week.
Shares remain suspended.