project44 hits cash flow breakeven as AI-powered growth surges
Logistic software vendor project44 has reported more than 40% year-on-year growth in new annual recurring revenue for its most recent quarter. The company has also reached operational cash flow breakeven, signalling improved financial stability while expanding its supply chain management offerings.
Financial results
The company's recurring revenue from new customers grew by over 40% compared to the same period last year. Revenue from multi-year contracts increased by 25% year-on-year, reflecting expanding commitments from enterprise customers. project44 highlighted the addition of several Fortune 500 companies to its customer base during the quarter, including organisations in pharmaceuticals, technology, industrial manufacturing, and consumer goods. The company emphasised its strongest quarter to date in China and reported a 44-point improvement in Net Promoter Score over the past eight quarters.
"Our performance this quarter demonstrates how project44 is accelerating as an organization. project44 is achieving operating financial independence, scaling faster than ever, and delivering innovations that drive measurable results for our customers," said Jett McCandless, Founder and CEO, project44.
Platform enhancements
project44 made 171 customer-facing product enhancements to its core offerings. These include Intelligent TMS, Visibility, Yard Management, and eCommerce Logistics. Intelligent TMS, a transportation management system powered by artificial intelligence, was noted as the company's fastest-growing product. Over 150 customers are using Intelligent TMS capabilities, accounting for over USD $30 million in annual recurring revenue.
"It's a great time to be in supply chain with project44 as a partner. The integration of advanced technology streamlines our processes and increases customer satisfaction, provides essential performance data and measurement, and creates a culture of collaboration and innovation. Together we identify challenges and transform them into opportunities - enabling Suntory to stay agile and responsive in a rapidly evolving market," said Hans Moorlag, Director of North America Logistics, Suntory Spirits.
Artificial intelligence
The company is using AI agents to automate operational workflows, which it says has improved data quality for carriers by up to 30%. Project44's AI agents handled nearly one million calls and emails this year. The company sees these agents as enabling greater human and AI collaboration, with modular agents focusing on operational tasks and humans prioritising exception management and strategic roles.
"The future of logistics isn't one super-agent replacing people, it's a modular ecosystem. LunaPath's tactical agents operate within project44's Decision Intelligent Platform to handle the heavy lifting so humans and higher-level AI agents can focus on exceptions, relationships, and strategy," said Kristopher Glotzbach, CRO, LunaPath.
Product upgrades
This quarter included several launches: Intelligent Truck Matching 2.0, which uses AI to link shipments to trucks even when not explicitly identified; Tariff Simulator and Tariff Analytics, which help customers assess import duties and model total landed costs; and enhanced temperature monitoring, allowing customers to view real-time temperature data and receive alerts to prevent product losses.
"Tariff volatility creates uncertainty for global supply chains and makes it harder for companies to plan with confidence. Having clear visibility into cost impacts and supplier options is critical for making smarter decisions and staying competitive," said Nigel Wilkinson, Group Head of Logistics, BAT.
Added collaboration functions were also released, enabling AI agents to bring in external parties to resolve issues. These tools have reduced time to resolution by more than 40%, according to the company.
"Our partnership with project44 has played an important role in helping Tailored Brands build a more connected and visible supply chain. As we introduce Intelligent TMS, the solution will enable us to further connect planning, execution, and analytics to drive smarter, more efficient operations across our network," said Jamie Bragg, EVP & Chief Supply Chain Officer, Tailored Brands.
