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TWL - TradeWindow delivers strong revenue growth

Wednesday 10th April 2024

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TradeWindow (NZX: TWL ), a global trade software company, today announced a strong finish to the financial year ending 31 March 2024.

 

TradeWindow delivered trading revenue of $6.2 million (unaudited), the top end of a previously narrowed guidance range of $6.1million to $6.2 million. This result represents a 26% increase on the previous year’s result of $4.9 million. Total revenue including grants and other income came in at $6.7 million for the full year up from $5.7 million in the prior year.

 

TradeWindow, which last month launched a $2.2 million capital raising to support it through to EBITDA and cashflow breakeven, is providing this information to ensure investors are fully informed of the company’s progress.

 

TradeWindow Chief Executive AJ Smith said: “We’re pleased with the progress made in what has been a challenging market. We have a strong team, great products, and unwavering demand for digital trade solutions, I feel positive going into the new financial year and firmly believe we can deliver continued growth”.

 

TradeWindow had a strong finish to FY24 with March delivering a new record high month with trading revenue at $562,000.

 

Annual Recurring Revenue (ARR), which reflects the full value of customer contracts, came in at $6.3 million for 31 March 2024, which represents 21% growth over the previous year. Several large contracts won in the latter part of the year are yet to be fully reflected in the trading revenue.

 

TradeWindow intends to release its customary update covering the fourth quarter of the financial year on or around 22 April 2024.

 

Released for and on behalf of TradeWindow by:

 

AJ Smith

 

Executive Director and Chief Executive Officer

 

ENDS

 

About TradeWindow:

 

Founded in December 2018, TradeWindow is an NZX-listed software company that provides digital solutions for exporters, importers, freight forwarders, and customs brokers to drive productivity, increase connectivity, and enhance visibility. TradeWindow’s software solutions integrate to form a cohesive digital trade platform that enables customers to more efficiently run their back-end operations, share information and securely collaborate with a global supply chain made up of customers, ports, terminals, shipping lines, banks, insurance companies, and government authorities.



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