Maritime artificial intelligence specialist Windward (WNWD:AIM) clearly has the wind in its sails with its shares up 63% in 2024 and 192% over the last year driven by structural industry drivers which are helping the business reach break-even point ahead of expectations.

First-half results (20 August) showed revenue up 37% to $17.6 million, gross margin rising 3% to an impressive 81% and EBITDA (earnings before interest, tax, depreciation, and amortisation) loss shrinking by two-thirds to $1.3 million.

Company-provided consensus analyst forecasts are calling for full year revenue of $36.2 million, an adjusted EBITDA loss of $1.6 million and cash of $16.1 million. Management is confident of achieving break even adjusted EBITDA run rate during the financial year to 31 December 2024.

CEO and co-founder Ami Daniel summed up the group’s prospects: ‘With a high rate of renewal from existing customers, continued trading momentum into the second half, a highly competitive and differentiated offering, and high margin business, we anticipate the opportunity to keep building the company as the leader in Maritime AI for global trade.’

Windward’s growth is being driven by geopolitical risk, demand for AI products, decarbonisation and supply chain pressures, all of which are creating more demand for the company’s insights and analytics.

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