TradeWindow, a global trade software company, has provided a trading update and announced a reorganisation in order to achieve a monthly EBITDA breakeven.
The company plans to reduce monthly expenses and costs by at least 50% and is in discussions to divest its Rfider business and Assure+ traceability product.
TradeWindow now expects revenue for the year ending March 2024 to range between $6 million to $6.5 million, lower than previous guidance.
The company cites increased trade uncertainty, geopolitical tensions, inflationary pressures, and a downturn in economic activity as reasons for the revised outlook.
TradeWindow is also exploring multiple options for additional funding and asserting its rights under the nChain strategic agreement.
The company aims to prioritise sustainability and achieving rapid break-even in the short term.
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