BOARDWALKTECH SOFTWARE CP - BWLKF STOCK NEWS

Boardwalktech Software Corp. (TSXV:BWLK, OTCQB: BWLKF) has secured a five-year extension contract with a Fortune 500 food and snack manufacturer for its supply chain solution. The client, generating $36 billion in annual revenue, is expected to contribute over US$300,000 in license revenue during the contract period, excluding potential professional services and usage-based revenue.

This marks the third expansion since the initial contract in 2015, facilitated through Boardwalktech's partnership with a Fortune 500 consulting and financial services firm. The company anticipates additional deals and referrals through this partnership in the current year. Boardwalktech's platform specializes in transforming unstructured and structured data into operational tools, serving Fortune 500 clients across food manufacturing, technology, telecommunications, and cosmetics sectors.

Boardwalktech Software reported Q2-FY25 financial results with revenue of $1.28 million, showing a 2% increase from Q1-FY24 but a 16% decline from Q2-FY24. The company achieved a gross margin of 88.6% and reported an Adjusted EBITDA loss of $(0.37) million. Annual recurring revenue stood at $4.6 million. The company's net loss was $(0.7) million, improving 10% from Q1-FY25. As of September 30, 2024, Boardwalktech had $0.2 million in cash, $0.6 million in receivables, and $2.2 million in debt. The company reported positive operational progress in its banking sector, with its Velocity product expanding within a top 5 US bank.

Boardwalktech Software (TSXV: BWLK) (OTCQB: BWLKF) announces its Q2 Fiscal 2025 financial results release scheduled for November 27, 2024, after market close. Management will host a conference call at 4:30 PM Eastern Time to discuss results and answer questions. The company, based in Cupertino, California, has developed a patented Digital Ledger Technology Platform used by Fortune 500 companies for mission-critical applications worldwide, enabling multiple parties to work simultaneously on the same data while maintaining data fidelity and provenance.

Boardwalktech Software (TSXV: BWLK) (OTCQB: BWLKF) and Scadea Software Solutions have announced a strategic partnership to market Boardwalktech's software solutions. Under the agreement, Scadea will implement Boardwalk's Velocity and Unity Central products, focusing on financial services and manufacturing industries. Boardwalktech will receive license revenue, while Scadea will earn professional services revenue plus referral fees. The products offer ROIs exceeding 5X, with Velocity transforming Excel-based processes into secure applications and Unity Central optimizing supply chain processes through intelligent platform integration.

Boardwalktech Software Corp. (TSXV: BWLK) (OTCQB: BWLKF) has engaged Sophic Capital Inc. for capital markets advisory services. The agreement, starting October 9, 2024, aims to expand investor awareness and communication. Sophic will receive C$8,000 monthly and 500,000 stock options at CAD $0.14 per share. Additionally, Boardwalktech will issue 810,810 warrants to Spinta Capital at C$0.20 per share for their role in closing an ARR-based Line of Credit. Andrew T. Duncan, Boardwalktech's CEO, emphasized the company's product traction and the need for expanded investor outreach. Boardwalktech, based in Cupertino, California, has developed a patented Digital Ledger Technology Platform used by Fortune 500 companies for mission-critical applications worldwide.

Boardwalktech Software Corp. (TSXV: BWLK) (OTCQB: BWLKF) and HCLTech have expanded their partnership to address the growing need for mitigating risks associated with end-user computing applications (EUCs) in the financial services sector. The collaboration focuses on implementing the Boardwalk Velocity Product, which is currently being used by one of the top 5 US banks.

The Boardwalk Velocity solution aims to transform EUCs into a secure, compliant, and improved environment with proper controls. It addresses four core areas: improving process results, time to transformation, reduced cost to implement, and minimal disruption to users. According to IT partners and financial services customers, Velocity has demonstrated 10x superior performance in terms of deployment time and cost to remediate complex EUCs compared to alternative solutions.

Boardwalktech Software Corp. (TSXV: BWLK) (OTCQB: BWLKF) has announced the addition of Drue Freeman to its Board of Directors. Freeman, a seasoned technology executive with over 30 years of experience in the semiconductor industry, joins as an independent board member. He will chair the compensation/compliance committee and join the finance committee.

Freeman's expertise includes providing strategic and advisory services to companies, with recent successes involving acquisitions by Harman and Tesla. His appointment is expected to bring valuable insights to Boardwalktech as it continues to grow. The company, known for its patented Digital Ledger Technology Platform, serves Fortune 500 companies with mission-critical applications worldwide.

Boardwalktech Software Corp. (TSXV: BWLK) (OTCQB: BLWKF) held its 2024 Annual General Meeting on August 29, 2024, at the offices of Harbor Access in Toronto, Ontario. The meeting resulted in the election of four director nominees: Andrew T. Duncan, Charlie Glavin, CFA, Ganesh (Ravi) Krishnan, and Steve Bennet. These directors were elected by a majority vote of shareholders present or represented by proxy. Additionally, shareholders appointed MNP LLP as the company's auditors. The meeting outcomes were in line with the recommendations outlined in the Company's Management Information Circular dated July 19, 2024.

Boardwalktech Software Corp. (TSXV: BWLK) (OTCQB: BWLKF) reported its Q1 FY25 financial results. Revenue decreased 20% year-over-year to $1.25 million, with a 48% decline in professional services revenue. Annual Recurring Revenue (ARR) stood at $4.8 million. Gross margin was 87.9%, comparable to previous periods. Adjusted EBITDA loss improved to $(0.4) million, a 20% increase from Q1 FY24. Net loss improved 14% year-over-year to $(0.8) million.

CEO Andrew T. Duncan highlighted positive impacts from recent changes in Sales and Marketing, including new partnerships and channel selling. The company is seeing an increase in pipeline opportunities, with the Boardwalktech Velocity product gaining traction in a top 5 US bank and Unity Central product expanding in an existing large International Chemical customer.