TradeWindow reported strong revenue growth in the second quarter of FY24.
They highlighted the demand for their solutions, the issuance of their first Australian Certificate of Origin, and the launch of new features in Cube.
However, they also mentioned the disappointment of nChain not settling on their strategic agreement as planned.
TradeWindow is exploring funding alternatives to support their strategic growth initiatives.
They reported a $1.5 million increase in trading revenue for the quarter, bringing the total to $3 million for the half-year.
They expect trade volumes and transactional revenue to pick up in the spring and summer.
They have seen recurring revenue grow by 27% compared to the same period last year.
They have also seen growth in Average Revenue Per Customer (ARPC) for shippers and freight forwarders.
TradeWindow acknowledged the need to scale their innovation in line with available capital.
They mentioned the efficiency coming from streamlining customer onboarding processes and an increase in gross margin.
They mentioned the challenging economic conditions and industry consolidation affecting customer numbers.
They also highlighted the release of a new visibility function in Cube and the government's commitment to growing New Zealand's export sector.
They expressed surprise and disappointment over nChain not completing the settlement of their strategic investment deal and mentioned that they are asserting their rights underSee more