Very interesting heads up in the N Z Herald, lots of fun and games with this one, intriguing to say the least !
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Very interesting heads up in the N Z Herald, lots of fun and games with this one, intriguing to say the least !
https://www.nzx.com/announcements/420906
Yesterday a director resignation, today a trading update with a reorganisation cutting staff, and lowering revenue forecasts.......
Seems to hanging on by the skin of their teeth ….while remaining extremely upbeat
Thats a big reorganization to reduce cost by over 50%, if they can do that and be breakeven on a month to month basis then might be worth a second look, until then its going the way of Wynyard with cost being way to high and revenue growth way to slow and lumpy to make a big enough difference.
https://www.nzx.com/announcements/421406
TradeWindow lender waives covenant
TradeWindow (NZX: TWL), the global trade software business, today announces its lender ASB Bank has extended the interim waiver on a lending covenant breached because of the nChain deal being delayed.
TradeWindow and ASB Bank are working together to restructure the $1.1m debt facility to support the long-term stability of the business. Pending the achievement of conditions met by 30 November, the Company will have the debt covenant waived until 30 June 2024, this provides TradeWindow the time needed to execute the reorganisation and cost reduction strategy.
TradeWindow is continuing to assert its rights under the nChain strategic agreement and is in positive dialogue with the UK company. It is meanwhile continuing, as previously signalled, to explore multiple options to reduce costs, continue additional funding discussions and accelerate EBITDA breakeven.
It will update shareholders and its people as the company gains certainty from all its cost cutting measures. TradeWindow intends to release its financial results for the six months to the end of September on Wednesday 29 November 2023. The company will host a webcast at 11am on the same day.
Wow, Tradewindow got hoodwinked - https://www.nzherald.co.nz/business/...NSHFH3UOUSRU4/
Nchain is dodgy af. Even for crypto. Had no idea they had anything to do with a NZX listed company. RUN (from Nchain).
https://www.nzx.com/announcements/422570
HIGHLIGHTS
• Trading revenue - $3.0 million, up 25% lifted by a 21% increase in Average RevenuePer Customer (ARPC).
• Annual recurring revenue2 $5.5 million, up 27%.
• Gross margin - 51%, up 5ppt benefiting from onboarding performanceimprovements.
• Total operating expenses - $7.7 million, down 10% following cost reductionsannounced in March 2023.
• EBITDA loss - $4.7 million, down 20%, expected to reduce further in 2H 24 in line withexpense reductions announced in October 2023.
• Net loss after tax - $4.8 million, down 32%.
• Cash and cash equivalents - $1.8 million, an additional $500K has been raised since.
• Revenue guidance for FY 24 affirmed at $6.0 million to $6.5 million
Just like the song, "I can see clearly now, TRADE is going out the WINDOW" :cool:
But hopefully not for the sake of share owners.
disc: i'm not a shareholder
Hope the confidential settlement was a goodie......they need it.....
https://www.nzx.com/announcements/423899
TradeWindow and nChain agree to cancel agreement with settlement
TradeWindow (NZX: TWL), a global trade software company, today announced the mutual decision with nChain to cancel the previously established strategic partnership agreement.
Since late September, both TradeWindow and nChain have worked towards resolving the challenges impeding the strategic partnership. After extensive discussions, the parties have mutually agreed to terminate the agreement in its entirety. The parties have reached a confidential settlement of which details will not be disclosed.
The cancellation of this agreement marks an opportunity for TradeWindow to pursue alternative avenues for growth, exploring new partnerships and opportunities that align with the company's objectives of advancing product development and expanding its market reach.
In line with this strategic focus, TradeWindow has recently completed a restructuring initiative resulting in a 40% reduction in its workforce. This reorganisation reflects a streamlined operating model aimed at intensifying the commercialisation efforts of existing products.
The company anticipates that this leaner operational structure will drive towards achieving a monthly EBITDA break-even in Financial Year 2025 (1 April 2024 – 31 March 2025). TradeWindow remains actively engaged in discussions regarding funding with existing and potential new investors, who back the company’s drive to profitability and sustainable growth.