10
October 2024
Windward
Ltd.
("Windward", "the Company")
Continued contract momentum
provides a strong start to H2
Windward (LON: WNWD), a leading Maritime
AI company, is pleased to announce a number of key business
developments since the end of the first
half of 2024.
Key
customer wins:
Wins in the commercial sector
continue at a steady pace consistent with previous periods,
including healthy business expansion from existing customers. In
the ROW government sector, we won two new customers for a total of
$1.9m of ACV.
Government renewals:
In both ROW and US sectors, customer
renewals are progressing as expected.
MAI
Expert:
Acceptance rates for the recently
launched MAI Expert, our proprietary generative AI agent, have been
strong, with six existing commercial customers purchasing access to
MAI Expert during their renewal process and several new commercial
customers signing up. We have started the rollout of MAI
Expert to our public sector customers with a similar price uplift.
MAI Expert now also supports a multilingual response to our
customers allowing them a more local experience.
Middle East conflict:
Management confirms the ongoing
geopolitical situation in the Middle East has not had a material
impact on Windward's activities. Separately, in order to ensure
closer cooperation with the industry, the Company moved its HQ to
London during Q1 2024.
Ami
Daniel, Co-Founder and CEO of Windward,
commented:
"I
am pleased to report continued contract momentum into
H2. Investments into new products are
paving the way for new opportunities through an
expanded addressable market. We are laser
focused on achieving profitability while continuing to
execute against our product roadmap to deliver an enhanced offering
for our customer base."
For
more information, please contact:
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Windward
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Via Alma
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Irit Singer, CMO
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Canaccord Genuity (Nominated Adviser & Broker)
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+44(0)20 7523 8000
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Simon Bridges / Andrew
Potts
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Alma Strategic Communications
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+44(0)20 3405 0205
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Caroline Forde / Kieran Breheny /
Will Merison
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About Windward
Windward (LSE:WNWD), is a leading Maritime AI™ company, providing
an all-in-one platform to accelerate global trade. Windward's
AI-powered decision support and exception management platform
offers a 360° view of the maritime ecosystem and enables
stakeholders to make real time, predictive intelligence-driven
decisions to achieve business and operational readiness.
Windward's Maritime AI supports
companies across industries. The company's clients range from oil
supermajors, freight forwarders, and port authorities, to banks,
shippers, insurers, and governmental organizations.
For more information
visit: https://windward.ai/.
Prior to publication the information
communicated in this announcement was deemed by the Company to
constitute inside information for the purposes of article 7 of the
Market Abuse Regulations (EU) No 596/2014 as amended by regulation
11 of the Market Abuse (Amendment) (EU Exit) Regulations No
2019/310 ('MAR'). With the publication of this announcement, this
information is now considered to be in the public
domain.