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Software supplier WANdisco booked a deeper first-half loss as rising expenses, partly owing to increased headcount, overshadowed an improvement in sales.
Pre-tax losses for the six months through June amounted to $16.6m, compared to losses of $11.2m on-year.
Revenue rose to $6.0m, up from $5.7m on-year, but cash overheads rose to $15.5m, up from $14.6m.
Product expenditure increased and the company upped its headcount to 152, from 138, with most of the hires in sales and engineering.
'The core focus of management in the first half was securing the breakthrough deal with a major enterprise cloud partner announced on 15 July,' chief executive David Richards said.
'The deal, one of the most important developments in our journey to date, is a significant co-development project which sees our technology deeply embedded into the vendor's cloud offerings.'
'The deal combines our Fusion technology with the scale, reach and enterprise capabilities of the Partner's platform, with the sales and billing process fully independent from WANdisco.'
'Our technology and go-to-market platform is building critical mass, with our breakthrough co-development deal a flagship example of the operational leverage developing within our business.'
'This strong platform for growth and evolving pipeline of late stage deals in the early months of the second half leaves us in a strong position, underpinning the board's confidence in the second half and beyond.'
At 9:31am: (LON:WAND) WANdisco share price was -66p at 454p