Trade Window Holdings

TWL.NZ

Software - Application · Technology

Price

NZ$0.15

+0.01 (+7.14%)

Market Cap

NZ$24.5M

Exchange

New Zealand Exchange

Winston Score

Winston is worried

Below-average fundamentals — multiple weak pillars.

Data as of Aug 23, 2026 · filings through Mar 31, 2026

How the score breaks down

Quality

Weak

Growth

Good

Cash Flow

Weak

Stability

Good

Valuation

Data not available

Track this stock — start free trial

Share count rising — dilution

+65.4% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 86.4M (2022) → 142.9M (2026)

Winston Score History

The full picture

Trade Window Holdings is a New Zealand-based software company that helps businesses manage international trade and supply chain documentation. Its platform connects exporters, importers, freight forwarders, and customs brokers, making it easier to prepare, share, and submit the paperwork required to move goods across borders. The company operates primarily in New Zealand and Australia, serving trade-dependent industries like agriculture, manufacturing, and logistics.

Trade Window earns revenue by charging businesses subscription fees to use its cloud-based platform. The company is relatively small, with a market cap near zero, and its negative gross and operating margins show it is still spending more than it earns — a significant financial risk. Its potential moat lies in becoming a central digital hub for trade compliance in the region, but it faces competition from larger global logistics software providers and must grow its customer base quickly to reach profitability before its cash runs out.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+15.0% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+3.6% YoY

YoY Growth Rate

Slow EPS growth

R&D Spend

NZ$0/ year

0.0% of revenue

Below sector average (15%)

Research and development spending

Insider Activity

0.0%ownership

Relatively low insider ownership

Cash Runway

~10 months

NZ$4M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Short runway — potential dilution ahead through share issuance

Cash watch

Trade Window Holdings has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

-24.3%

Thin — -24.3% gross margin

Profit after running costs

Operating Margin

-24.3%

Losing money on operations — -24.3%

Return on the money invested

ROCE

-19.4%

Weak — -19.4% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Growth

Sales growth

Sales YoY

+19.7%

Fast-growing sales (+19.7% YoY)

Profit growth

EPS YoY

N/A

—

Data not available

How steady the profit is

EPS Consistency

7/8 quarters

Every recent quarter grew earnings vs last year

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Cash Flow

Profit that turns into cash

Cash Conversion

N/A

—

Data not available

Spare cash per sale

FCF Margin

-19.1%

Burning cash (-19.1%)

Free cash flow is negative. They are burning cash, not generating it.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Stability

What it owes vs what it owns

Debt / Equity

0.04

Conservative — low debt load (0.04)

Covers its interest

Interest Cover

N/A

Data not available

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Valuation

Price vs profit

P/E Ratio (TTM)

N/M

—

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Dividends

Not applicable for this business.

🔒 See full fundamentals and if they are improving or declining — click here for your free trial now.

Start free trial