Trade Window Holdings Ltd. · NZX:TWL
Trade Window — FY2025 Earnings Presentation
27 slides from Trade Window's earnings presentation, May 29, 2025
Slide 1: FY 2025 Financial Results Investor Presentation
FY 2025 Financial Results Investor Presentation 29 May 2025
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by Trade Window Holdings Limited (TradeWindow). All information is current at the date of this presentation, unless stated otherwise. All currency amounts are in NZ dollars unless stated otherwise. Information in this presentation: • is for general info
Slide 3: Agenda
Agenda Financial results overview 4 Market conditions driving growth 6 Competitive landscape 7 Customers 8 Financial overview 14 Outlook and summary 21 AJ Smith Deidre Campbell CEO & Director Chief Financial Officer Investor Presentation 3
Slide 4: FY25: Record revenue growth and EBITDA guidance achieved
FY 25: Record revenue growth and EBITDA guidance achieved Revenue FY 24 FY 25 • Successful execution of strategy delivers strong growth in revenue and $10,000 focused cost management, clearing the path to financial sustainability $8,000 $8,031 $8,071 $6,753 $6,179 NZ$(000) • Trading revenue rises to
Slide 5: Key performance indicators – FY25
Key performance indicators – FY25 $8.0m $8.7m $2,066 $914 Trading revenue Annual ARPC (Shippers) ARPC (Freight Recurring Forwarders) Revenue Up 30% Up 38% Up 21% Up 43% 61% 554 87% 35% % of expenses Customer R&D and Gross Margin Customers retention rate Commercialisation Up 7 ppt Up 24 Down 6 ppt Do
Slide 6: Market conditions driving growth
Market conditions driving growth E-Commerce Expansion Digital Transformation Supply Chain Resilience Consumers are switching their buying Artificial intelligence (AI) can eliminate Ongoing disruptions, such as port strikes, preferences to e-commerce channels and manual data entry, repetitive tasks,
Slide 7: Competitive landscape is fragmented
SHIPPER FOCUSED SOLUTIONS FORWARDER FOCUSED SOLUTIONS Competitive landscape is fragmented TECH ENABLED SERVICE End-to-end digital trade facilitation presents a whitespace opportunity with few dominant incumbents. TradeWindow is well positioned to deliver the BSM2 next generation software solutions i
Slide 8: 554 organisations use our technology
554 organisations use our technology A selection of customers which include some of Australasia’s most prolific shippers and freight forwarders Dairy Meat Seafood Horticulture Logistics & other Note, logos don’t necessarily correspond to top customers. Investor Presentation 8
Slide 9: Diversified customer base
Diversified customer base We have low customer concentration risk with no single customer contributing more than 6% 1 Top 10 Customers % of trading revenue 6.0% 5.0% 4.0% 3.0% 2.0% 1.0% 0.0% 1 2 3 4 5 6 7 8 9 10 1. Based on actual trading revenue for 12 months to 31 March 2025 Investor Presentation
Slide 10: Revenue composition
Revenue composition Service Trading revenues highly predictable with 94% recurring Installation revenue revenue 3% 3% Transactional revenue 11% • TradeWindow generates transactional revenue each time a customer either creates or shares a set of trade documents 6% Subscription revenue • Customers pay
Slide 11: Business model
Business model Our business models match the unique needs of the shipper and freight forwarder customer segments Shippers Freight Forwarders Transaction fees are calculated per set of shipping documents created Monthly subscription fees charged per module and the number of or shared, respectively. T
Slide 12: Growing from solid foundations with no shortage of opportunity
Growing from solid foundations with no shortage of opportunity Trading Revenue2 • Delivered a CAGR of 118%1 since the start of 12.0 Millions commercialisation in January 2020 10.0 • Delivered trading revenue of $8 million for the financial year ended 31 March 2025, up 30% on the prior year 8.0 • Tra
Slide 13: TradeWindow 2.0
TradeWindow 2.0 Pathway to profitability and continued revenue growth Average half year cash burn1 • EBITDA breakeven in the month of March 2025 0.0 -0.1 • Efficient cost structure successfully -0.2 implemented, delivered continued strong -0.3 revenue growth -0.4 NZ$M -0.5 -0.6 -0.7 -0.8 -0.9 -1.0 1
Slide 14: Financial Overview
Financial Overview @ Tradewindow
Slide 15: Financial performance
Financial performance Trading revenue up 30% driven by organic growth Income Statement $000 FY25 FY24 Change $ Change % • Trading revenue up 30% to $8.0m, with sales Trading revenue 8,031 6,179 1,851 30% across all core products Other income 40 574 (534) -93% • Employee costs down 27%, reflecting co
Slide 16: Revenue by type and country
Revenue by type and country Organic growth underpinning revenue increase Revenue by type $000 FY25 FY24 Change % • Organic trading revenue growth of 30%. driven Transactional 4,289 2,971 44% by combination of existing customers taking up complementary solutions, a focus on higher- Subscription 3,280
Slide 17: Average revenue per customer (per month)
Average revenue per customer (per month) ARPC up for both customer segments continues to increase Freight FY25 FY24 Change % • Total customers increase to 554 from Subscriber1 customer nos. period end 296 273 8% 513 in FY 24 Ave Subscriber customer nos. 290 268 8% • Freight customers increase 8% led
Slide 18: Operating expenses / staff numbers
Operating expenses / staff numbers Reflects reorganisation undertaken during the previous period & tight cost control Personnel & employee expense $000 FY25 FY24 Change $ Change % • Employee costs down 27% reflect cost Cost of goods sold 2,196 2,089 107 5% reductions: Research & Development 1,699 3,
Slide 19: Balance sheet
Balance sheet $000s FY24 FY24 Change $ Change % Movements Current Assets 1,548 1,192 356 30% Increase in cash & trade receivables Non-Current Assets 9,873 11,583 (1,710) -15% Intangibles asset amortization Total Assets 11,420 12,774 (1,354) -11% Current Liabilities 2,489 2,151 338 16% Non-Current Li
Slide 20: Cashflow
Cashflow $000s FY25 FY24 Change $ Change % • Balance date cash and cash equivalents of Operating Activities $0.4m Cash Received from Customers 8,841 6,273 2,568 41% • Successful capital raise concluded in Apr 24 of Cash Paid to Suppliers and Employees (10,368) (12,906) 2,538 -20% $2.2m which enabled
Slide 21: FY26 outlook: targeting EBITDA breakeven
FY26 outlook: targeting EBITDA breakeven • We are well positioned to help businesses navigate the increasing complexity of trading goods internationally • New trade agreements will expand the total addressable market for TradeWindow’s solutions • Shippers and freight forwarders have pent up demand t
Slide 22: Appendix
Appendix @ Tradewindow J/\/\ I<
Slide 23: Our board of directors
Our board of directors Alasdair MacLeod Phil Norman AJ Smith Kerry Friend Independent Chair Independent Director Executive Director Executive Director and Chief Executive Alasdair joined the board in October Phil joined the board in October 2021 and was appointed Chair at 2021. Officer that time. Fo
Slide 24: Our senior leadership team
Our senior leadership team Highly experienced leadership team driving global scalability while overseeing a team of 58 subject matter experts AJ Smith Kerry Friend Deidre Campbell Founder & CEO Executive Director Chief Financial Officer Entrepreneur with track record for creating Chartered Accountan
Slide 25: Projected financials – key assumptions
Projected financials – key assumptions Forward-looking financial information is inherently subject to judgement, risks and uncertainty, including from events beyond Trade Window’s control. Key assumptions which may have a material risk to our projections include: SPECIFIC GENERAL • The rate and timi
Slide 26: Glossary
Glossary Annualised Recurring Revenue (ARR) Customs Broker Shipper The recurring revenue for a specified month annualised. A Customs Broker is a licenced individual who acts as A Shipper is an exporter or importer who requires an intermediary for Shippers and Freight Forwarders in carriers to transp
Slide 27: Thank you
Thank you Contact Andrew Balgarnie Chief Strategy Officer TradeWindow +64 275 594 133 andrew@tradewindow.io