NEW Zealand-based supply-chain software company TradeWindow reported increases in income and revenue, but also an increase in loss over the past financial year, which runs from 1 April to 31 March in New Zealand.
In the 12 months to the end of March, the company’s total income increased 108% to NZ4.9 million
The company’s total operational expenses were NZ$14.4 million, up 76% on the previous financial year. The company attributed this to planned investments in building and commercialising its “scalable global trade platform”.
TradeWindow chief executive AJ Smith said the results demonstrated strong delivery and momentum on the company’s priorities.
“Global trade is undergoing game-changing transformation as it moves from manual to digital processes and TradeWindow is well positioned to continue to lead and capitalise on this significant shift in how world trade is conducted,” Mr Smith said.
“During the period our flagship offering, the Cube platform, saw encouraging adoption with new customers. Ongoing investment, commercialisation, and more customers using additional TradeWindow solutions, will underpin future growth.”
Mr Smith said the company has a team that is focused on growth in New Zealand, Australia and Asia in FY23, recently appointing senior leadership in Australia.
“Exporters from a range of sectors have adopted our new product, Cube, during the year. Additionally, in New Zealand, organic growth has primarily been driven by exporters using our trade solution, Prodoc. In Australia, we have seen growth in both our Prodoc and Freight solutions,” he said.
“During the year we continued to improve our core products with 348 enhancements and multiple key ecosystem integrations, including ocean booking platform INTTRA and Vero for marine insurance.”