4th Feb 2022 13:37
Windward Ltd - Tel Aviv-based artificial intelligence software provider for the maritime industry - Reports "record" levels of annual contract value growth in the year ended December 31, following the company's admission to AIM in December last year. ACV increases by 38% to USD21.1 million from USD15.3 million. Customer numbers increase to over 80 by year end from 45 at the start of the year. Expects to report revenue growth in 2021 of around 18% to about USD17.3 million from USD14.6 million.
"Encouraged by momentum across the business, investment in headcount continued in Q4 and into the new year, ahead of an expected acceleration in new business and revenue growth in 2022," company says.
Company adds it is feeling the bite of salary inflation pressures, with the loss before interest, tax, depreciation and amortisation expected to be "slightly" deeper than expectations. Salary cost pressures are expected to continue through 2022.
Results for the year are due towards the end of March.
Current stock price: 169.80 pence, down 5.7%
12-month change: down 0.1% since IPO price of 170.0p
By Greg Roxburgh; [email protected]
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