WaveDancer Wraps up Year with nearly $500k of Additional Revenue in its Secure Supply Chain Technology Business

Rhea-AI Summary

WaveDancer (NASDAQ: WAVD) announced nearly $500k in revenue from a U.S. government contract implementing its blockchain-enabled supply chain management platform. This technology enhances security, visibility, and auditability throughout the supply chain. CEO Jamie Benoit emphasized the importance of an easy-to-use interface that leverages blockchain transparency. The platform includes smart contracts and AI insights for complex supply chain challenges. Moreover, WaveDancer's solutions are available on AWS Marketplace for GovCloud.

Positive

• Recognized nearly $500k in revenue from a government contract.
• Utilizes blockchain technology for enhanced security, visibility, and auditability.
• Developed an easy-to-use interface for U.S. government operations.
• Offers AI and machine learning insights for supply chain management.
• Available on AWS Marketplace for GovCloud.

Negative

• None.

Contract with US Government provides security, visibility, and easy auditability on a complex, global supply chain

FAIRFAX, Va., Jan. 05, 2023 (GLOBE NEWSWIRE) -- WaveDancer, Inc., (NASDAQ: WAVD) announced today that the Company recognized nearly $500k in revenue before the year’s end, from their United States government contract implementing their end-to-end blockchain-enabled supply chain management platform. WaveDancer has taken a very complex supply chain and enabled blockchain throughout every step of the process – from acquisition to final delivery – allowing the customer to have security, visibility, and easy auditability of their entire supply chain ecosystem.

“Given the complexity and sensitivity of this mission, I am extremely proud of the work we’ve done for the US Government to develop an easy-to-use interface powered by the security and transparency capabilities of blockchain technology,” said Jamie Benoit, WaveDancer’s CEO. “Combined with our recent successes with commercial clients, we are beginning to lead the way for a new type of supply chain management system that provides enterprises with instant visibility and verification of their data with the complete security and transparency of distributed ledger.”

WaveDancer’s platform includes acquisition capabilities including the use of smart contracts, track and trace from start to finish, and instantaneous auditability. Additionally, the security associated with WaveDancer’s blockchain algorithms allows for the aggregation of sensitive data which can then be analyzed through Artificial Intelligence (AI) and Machine Learning to provide precise insights and outputs on a global scale.

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 recent revenue did WaveDancer report from its government contract?

WaveDancer reported nearly $500k in revenue from its government contract.

How does WaveDancer's platform enhance supply chain management?

WaveDancer's platform enhances supply chain management through blockchain technology, providing security, visibility, and auditability.

What features does WaveDancer's platform include?

WaveDancer's platform includes smart contracts, track and trace capabilities, and AI-driven insights.

Where can WaveDancer's solutions be accessed?

WaveDancer's solutions are available on the AWS Marketplace for GovCloud.

Who is the CEO of WaveDancer?

Jamie Benoit is the CEO of WaveDancer.