Wellington Drive Technologies Limited (Wellington) has reported record revenue for FY2021 of approximately US$47m and EBITDA of approximately NZ$3.9m.
Despite supply chain and component/parts availability risks, the Company is forecasting FY2022 revenue growth of 25% to around US$60m and remains confident of achieving its Vision 2023 objective of NZ$100m of revenue by FY2023.
With over 1.5 million devices connected to the Wellington IoT cloud, the Company is expanding its product and geographic reach and investing in engineering and sales staff and infrastructure to support strong customer demand.
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