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State: 17.08.2024 | 11PM
Thu, 22.08.2024       Windward
IL0011809428

LONDON, Aug. 22, 2024 /PRNewswire/ -- Windward (LSE: WNWD), a leading Maritime AI™ company, is pleased to announce its financial results for the six months ended 30 June 2024 ("HY 24").

The complete report was notified via RNS on 20 August 2024 and can be found here.

Below is a summary of Windward's half year financial report for January 1—June 30, 2024 and it contains no new information.

Financial Highlights:

Annual Contract Value (ACV) of $37.2m, up 35% (HY 23: $27.6m)Revenue up 37% to $17.6m (HY 23: $12.8m)Gross margin for HY 24 up three points and now at 81% (HY 23: 78%)EBITDA loss down 66% and now at $1.3m for HY 24 (HY 23: $3.8m loss)Cash balance at period end of June 2024 was $13.8m (31 December 2023: $17.3m), on track to achieve market expectations for 31 December 2024Trading in line with recently upgraded market expectations on revenue for FY24, and confident of achieving an adjusted EBITDA break-even run rate during FY24
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