Windward Announces that Continued Contract Momentum Provides a Strong Start to H2 2024

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Oct 10, 2024, 02:00 ET

LONDON, Oct. 10, 2024 /PRNewswire/ -- Windward (LSE: 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, Windward 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, Windward's 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. The company has started the rollout of MAI Expert to their public sector customers with a similar price uplift. MAI Expert now also supports a multilingual response to their 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."

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/.

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SOURCE Windward