Cirata plc Achieves Record Q1 Bookings and Reduces Cash Burn

Wandisco ( (GB:CRTA) ) has shared an update.

Cirata plc reported a significant increase in total bookings for Q1FY25, reaching $3.0 million, a 330% year-over-year growth, marking the strongest Q1 since 2019. The company’s strategic partnerships, including a $2.0 million data integration contract with a leading UK retailer and a data migration service contract in the UAE, highlight its successful ‘land and expand’ strategy. Cirata also achieved a substantial reduction in cash burn, down to $1.4 million, and improved its business mix, with data integration accounting for 80% of bookings. Despite challenges in North America, the company is focusing on enhancing sales cycle predictability and expanding its market presence through strategic collaborations and product evolution.

Spark’s Take on GB:CRTA Stock

According to Spark, TipRanks’ AI Analyst, GB:CRTA is a Neutral.

The overall score reflects major financial and technical challenges, primarily driven by continuous losses and bearish stock trends. However, recent corporate events show positive developments, offering potential for future growth if strategic execution succeeds. Immediate financial and operational improvements are necessary to enhance investor confidence.

To see Spark’s full report on GB:CRTA stock, click here.

More about Wandisco

Cirata accelerates data-driven revenue growth by automating data transfer and integration to modern cloud analytics and AI platforms. The company enables data leaders to leverage AI and analytics across their enterprise data estate, avoiding vendor lock-in and enhancing flexibility, speed, and cost-effectiveness. Cirata’s solutions facilitate the strategic adoption of modern data analytics efficiently and automatically.

YTD Price Performance: -25.04%

Average Trading Volume: 154,015

Technical Sentiment Signal: Buy

Current Market Cap: £21.64M

Learn more about CRTA stock on TipRanks’ Stock Analysis page.