WaveDancer Signs Multi-Year Contract with Commercial Customer

Rhea-AI Summary

WaveDancer (NASDAQ: WAVD) announced a multi-year agreement that is expected to generate over $500,000 in subscription revenue for its Maverix Blockchain platform. The new customer operates a complex global supply chain and chose Maverix for its advanced capabilities in tracking and managing high-value products securely. Randy Boone, Chief Revenue Officer, highlighted the software's unique features in offering enhanced traceability and transparency compared to traditional ERP systems. The company's platform operates on Amazon Web Services (AWS) Marketplace for GovCloud.

Positive

• Signed a multi-year contract expected to exceed $500,000 in new subscription revenue.
• Maverix platform selected for its advanced tracking capabilities in complex supply chains, enhancing visibility and security.

Negative

• None.

Maverix™ Blockchain platform to provide visibility, transparency, and security; multi-year booking validates the platform’s utility in managing complex supply chains

FAIRFAX, Va., Dec. 22, 2022 (GLOBE NEWSWIRE) -- WaveDancer, Inc. (NASDAQ: WAVD) announced today that the Company signed another customer for their Maverix Blockchain platform. The multi-year engagement is expected to exceed $500,000 in new subscription revenue.

The Company’s newest customer has a complex global supply chain and was looking for an enterprise-level system to track and trace their high-value products from end-to-end, while also validating, sharing, and storing all the associated data in a safe and secure manner. WaveDancer’s Maverix platform was chosen due to the robust and unmatched capabilities it provides.

“We are thrilled to be able to assist another customer with their supply chain management needs. Since the completion of our commercial platform this fall, our Sales & Marketing efforts have been steadily gaining momentum,” said Randy Boone, WaveDancer’s Chief Revenue Officer.

“This customer came to us needing a unique capability that matched the complexity of its operating environment. They chose Maverix because our easy-to-use software combines enterprise-level traceability and visibility with the security, immutability and transparency of blockchain – something you just can’t get out of your traditional supply chain ERPs,” Mr. Boone added. “Increasing the amount of quality data throughout the supply chain and then being able to confidently share it is critical to solving some of the supply chain challenges we see today.”

Given the nature of the customer’s business, WaveDancer is not at liberty to name them at this time.

About WaveDancer

WaveDancer (www.wavedancer.com), headquartered in Fairfax, Virginia, offers industry-first Web3 blockchain-enabled software solutions for supply chain security. We help organizations manage very complex supply chain challenges in order to gain unprecedented levels of accountability, auditability, and predictability from their data, while giving insights to their partners and suppliers through a controlled, distributed ledger that is tamper-proof and can be trusted by all parties. WaveDancer’s blockchain platform is offered on Amazon Web Services (AWS) Marketplace for GovCloud.

Additional information for investors

This release may contain forward-looking statements regarding the Company's business, customer prospects, or other factors that may affect future earnings or financial results. Such statements involve risks and uncertainties which could cause actual results to vary materially from those expressed in the forward-looking statements. Investors should read and understand the risk factors detailed in the Company's 10-K for the fiscal year ended December 31, 2021 and in other filings with the Securities and Exchange Commission.

For investor inquiries contact:

Jeremy Hellman, CFA
Vice President, The Equity Group Inc.
jhellman@equityny.com
(212) 836-9626

FAQ

What is the significance of WaveDancer's recent contract announcement for WAVD?

WaveDancer announced a multi-year engagement expected to exceed $500,000 in subscription revenue for its Maverix Blockchain platform, indicating strong market demand.

How does WaveDancer's Maverix platform benefit supply chain management?

Maverix provides advanced traceability, visibility, and security, allowing companies to manage high-value products efficiently in complex supply chains.

What type of company signed the contract with WaveDancer?

The customer has a complex global supply chain but is not disclosed due to confidentiality.

Where is WaveDancer's Maverix Blockchain platform offered?

The Maverix platform is available on the Amazon Web Services (AWS) Marketplace for GovCloud.