WaveDancer Wraps up Year with nearly $500k of Additional Revenue in its Secure Supply Chain Technology Business
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.
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.
Released January 5, 2023