Highlights

  • TradeWindow announced in August 2026 that it intends to seek a primary listing on the ASX.
  • Australia generated $4.1 million, or 42%, of FY26 trading revenue, up 34% on FY25.
  • Annual recurring Revenue rose 17% to $10.4 million in the quarter ended 30 June 2026.
  • Two Australian-resident logistics executives joined the board to help meet ASX primary listing requirements.

Trade Window Holdings Ltd (ASX:TWL) is turning its focus towards Australian capital markets, announcing on 21 August 2026 that it intends to pursue a primary listing on the ASX. The New Zealand-founded logistics software company, which currently trades on the NZX and on the ASX, said a deeper pool of investors familiar with logistics and Supply chains, along with access to growth capital, underpinned the decision.

TradeWindow, founded in December 2018, makes software for exporters, importers, freight forwarders and customs brokers, linking them with ports, shipping lines, banks, insurers and government agencies.

Australia Becomes the Fastest-Growing Market

The listing plan reflects a shift in where TradeWindow earns its money. Australia contributed $4.1 million, or 42%, of trading revenue in FY26, an increase of 34% on FY25, and the company describes it as its fastest-growing market.

No formal application has yet been lodged, and the company has said ASX has given no indication of whether it would approve a primary listing. No timetable has been set, and the release did not address the future of the NZX listing.

Board Reshaped With Logistics Experience

Two independent non-executive directors joined with immediate effect in August. Susan Beling spent more than 12 years at efm Logistics, including 11 as chief executive, and previously held senior roles at Adecco. Brodie Collins has more than 26 years in shipping and logistics across Australia and New Zealand and has been Group Chief Strategy Officer at Mondiale VGL since May 2023. Their Australian residency is intended to satisfy an ASX primary listing requirement.

Andrew Balgarnie, who has held chief operating, revenue and strategy roles since joining in November 2019, became a part-time executive director on 14 September 2026. All three directors stood for election at the annual shareholders' meeting on 29 September 2026.

Recurring Revenue and Customer Value Rise

In the Q1 FY27 quarter to 30 June 2026, unaudited trading revenue increased 18% to $2.7 million, while ARR grew 17% to $10.4 million. Gross Margin held at 63%. TradeWindow served 546 customers, with retention improving one percentage point to 90%. Average revenue per shipper customer rose 20% to $36,447 a year, and per freight forwarder 19% to $16,480.

Chief executive Dewald van Rensburg said performance was aligned with the revenue guidance outlined in the May full-year presentation.

FreightAI Development and Listing Steps Ahead

The company is building FreightAI, an internally developed platform designed to automate document ingestion, Job creation, customs preparation and exception handling. Capitalised development spending on the project grew 25% to $0.8 million at 30 June 2026, and AI-enabled workflows are being introduced into TW Freight, used by about 300 freight forwarders. FreightAI remains targeted for initial commercial rollout from September 2027. In October 2026, TradeWindow announced Lactalis as a customer for its Prodoc product and issued a clarification the same day. Shares were unchanged at A$0.12 on 2 November 2026, giving a Market Capitalisation of A$19.63 million, and were down 52.94% over 12 months.