REG - Windward Ltd. - Contract momentum provides a strong start to H2

WindwardAnnouncement

10/10/2024 07:00

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RNS Number : 6138H  Windward Ltd.  10 October 2024

10 October 2024

Windward Ltd.

("Windward", "the Company")

Continued contract momentum provides a strong start to H2

 

Windward (https://windward.ai/)  (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:

 Windward                                             Via Alma
 Irit Singer, CMO

 Canaccord Genuity (Nominated Adviser & Broker)       +44(0)20 7523 8000
 Simon Bridges / Andrew Potts

 Alma Strategic Communications                        +44(0)20 3405 0205
 Caroline Forde / Kieran Breheny / Will Merison

 

About Windward

Windward (https://windward.ai/)  (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/ (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.

 

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