BOARDWALKTECH REPORTS FIRST QUARTER FISCAL 2025 FINANCIAL RESULTS
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.
Boardwalktech Software Corp. (TSXV: BWLK) (OTCQB: BWLKF) ha riportato i risultati finanziari del primo trimestre dell'anno fiscale 2025. I ricavi sono diminuiti del 20% rispetto all'anno precedente, raggiungendo 1,25 milioni di dollari, con un calo del 48% nel fatturato dei servizi professionali. Il Reddito Ricorrente Annuale (ARR) si attesta a 4,8 milioni di dollari. Il margine lordo è stato dell'87,9%, paragonabile ai periodi precedenti. La perdita dell'EBITDA rettificato è migliorata a $(0,4) milioni, con un aumento del 20% rispetto al primo trimestre del FY24. La perdita netta è migliorata del 14% anno su anno, raggiungendo $(0,8) milioni.
Il CEO Andrew T. Duncan ha evidenziato gli impatti positivi delle recenti modifiche nelle vendite e nel marketing, comprese le nuove partnership e la vendita attraverso canali. L'azienda sta osservando un aumento delle opportunità in pipeline, con il prodotto Boardwalktech Velocity che sta guadagnando attenzione in una delle prime cinque banche statunitensi e il prodotto Unity Central che si sta espandendo presso un grande cliente chimico internazionale già esistente.
Boardwalktech Software Corp. (TSXV: BWLK) (OTCQB: BWLKF) informó sobre sus resultados financieros del primer trimestre del año fiscal 2025. Los ingresos disminuyeron un 20% interanual, alcanzando 1,25 millones de dólares, con una caída del 48% en los ingresos por servicios profesionales. Los Ingresos Recurrentes Anuales (ARR) se situaron en 4,8 millones de dólares. El margen bruto fue del 87,9%, comparable a periodos anteriores. La pérdida de EBITDA ajustado mejoró a $(0,4) millones, un aumento del 20% en comparación con el primer trimestre del FY24. La pérdida neta mejoró un 14% interanual, alcanzando $(0,8) millones.
El CEO Andrew T. Duncan destacó los impactos positivos de los recientes cambios en Ventas y Marketing, que incluyen nuevas asociaciones y ventas por canal. La empresa está viendo un incremento en las oportunidades de pipeline, con el producto Boardwalktech Velocity ganando tracción en uno de los cinco principales bancos de EE. UU. y el producto Unity Central expandiéndose en un importante cliente químico internacional existente.
Boardwalktech Software Corp. (TSXV: BWLK) (OTCQB: BWLKF)는 2025 회계연도 1분기 재무 결과를 발표했습니다. 수익이 전년대비 20% 감소하여 125만 달러에 달했습니다, 전문 서비스 수익은 48% 감소했습니다. 연간 반복 수익(ARR)은 480만 달러로 집계되었습니다. 총 마진은 87.9%로, 이전 기간과 유사합니다. 조정 EBITDA 손실은 $(0.4)백만으로 개선되었습니다, FY24 1분기에서 20% 증가했습니다. 순손실은 전년대비 14% 개선되어 $(0.8)백만에 달했습니다.
CEO Andrew T. Duncan은 최근의 영업 및 마케팅 변화의 긍정적인 영향을 강조하며, 새로운 파트너십과 채널 판매를 포함했습니다. 회사는 파이프라인 기회가 증가하고 있으며, Boardwalktech Velocity 제품이 미국 다섯 개 주요 은행 중 하나에서 주목받고 있고, Unity Central 제품이 기존의 대규모 국제 화학 고객에게 확장되고 있음이 나타났습니다.
Boardwalktech Software Corp. (TSXV: BWLK) (OTCQB: BWLKF) a publié ses résultats financiers pour le premier trimestre de l'exercice 2025. Le chiffre d'affaires a diminué de 20% par rapport à l'année précédente, atteignant 1,25 million de dollars, avec une baisse de 48% des revenus des services professionnels. Les Revenus Annuels Récurrents (ARR) s'élevaient à 4,8 millions de dollars. La marge brute était de 87,9%, comparable aux périodes précédentes. La perte d'EBITDA ajusté s'est améliorée pour atteindre $(0,4) million, soit une augmentation de 20% par rapport au premier trimestre de l'exercice FY24. La perte nette s'est améliorée de 14% par rapport à l'année précédente, atteignant $(0,8) million.
Le CEO Andrew T. Duncan a souligné les impacts positifs des récentes modifications dans les ventes et le marketing, y compris les nouveaux partenariats et la vente par canal. L'entreprise constate une augmentation des opportunités dans le pipeline, avec le produit Boardwalktech Velocity qui prend de l'ampleur dans l'une des cinq principales banques américaines et le produit Unity Central qui s'étend chez un client chimique international de grande taille existant.
Boardwalktech Software Corp. (TSXV: BWLK) (OTCQB: BWLKF) hat seine finanziellen Ergebnisse für das erste Quartal des Geschäftsjahres 2025 veröffentlicht. Der Umsatz ist im Jahresvergleich um 20% auf 1,25 Millionen Dollar gesunken, wobei die Einnahmen aus professionellen Dienstleistungen um 48% zurückgingen. Der Jährliche wiederkehrende Umsatz (ARR) belief sich auf 4,8 Millionen Dollar. Die Bruttomarge betrug 87,9%, vergleichbar mit früheren Perioden. Der Verlust des angepassten EBITDA verbesserte sich auf $(0,4) Millionen, was einem Anstieg von 20% im Vergleich zum ersten Quartal des FY24 entspricht. Der Nettoprofitverlust verbesserte sich im Jahresvergleich um 14% auf $(0,8) Millionen.
CEO Andrew T. Duncan hob die positiven Auswirkungen der jüngsten Änderungen im Vertrieb und Marketing hervor, einschließlich neuer Partnerschaften und Verkaufskanäle. Das Unternehmen verzeichnet einen Anstieg der Pipeline-Möglichkeiten, wobei das Boardwalktech Velocity-Produkt an Bedeutung bei einer der fünf größten Banken in den USA gewinnt und das Produkt Unity Central bei einem bestehenden großen internationalen Chemiekunden expandiert.
- Gross margin remained strong at 87.9%
- Adjusted EBITDA loss improved by 20% year-over-year
- Net loss improved by 14% year-over-year to $(0.8) million
- Increase in pipeline opportunities with new partnerships and channel selling
- Boardwalktech Velocity product gaining traction in a top 5 US bank
- Unity Central product expanding in an existing large International Chemical customer
- Revenue decreased 20% year-over-year to $1.25 million
- 48% year-over-year decline in revenue from professional services
- Non-IFRS net loss remained flat at $(0.5) million compared to Q1 FY24
Financial Highlights:
- Revenue for Q1-FY25 was
$1.25 million 20% decrease from$1.55 million $1.42 million 48% year-over-year decline in revenue from professional services. - Annual recurring revenue ("ARR"), at June 30, 2024 was
$4.8 million - Gross margin for Q1-FY25 was
87.9% , comparable with a90.0% level in Q1-FY24 and89.1% in Q4-FY24. - Adjusted EBITDA for Q1-F25 was a loss of
$(0.4) million 20% increase versus the$(0.5) million $1.5 million $0.4 million - Non-IFRS net loss for Q1-FY25 (as defined in the Non-IFRS Financial Measures section) totaled
$(0.5) million $(0.01) $(0.5) million $(0.01) $(0.3) million $(0.01) - Net loss for Q1-FY25 was
$(0.8) million $(0.01) $(0.9) million $(0.2) $(0.7) million $(0.01) 14% year-over-year improvement year-over-year, despite the lower revenue levels.
"Coming out of the major changes we made in Sales and Marketing in the beginning of the year along with the move to more partner/teaming agreements and channel selling, we are starting to see an increase in our pipeline with new and excellent opportunities not seen before. The addition of our new CMO Elizabeth Venafro and a remake of our website and lead generation program is also having a positive impact," said Andrew T. Duncan, Chief Executive Officer. "The Boardwalktech Velocity product is now accelerating within a top 5 US bank with 3 teaming partners heavily engaged in the deployment. We also are seeing expansion of our Unity Central product in an existing large International Chemical customer and have tangible Unity Central prospects in the pipeline as a result of the demonstrable ROI we have shown for improving order management in the supply chain. The foundation has been laid for a renewed increase in revenue and our continued drive to EBITDA break even."
Earnings Conference Call Details
Boardwalktech management will be hosting its earnings conference call today (August 27, 2024)
Time: at 5:00 PM Eastern Time / 2:00 PM Pacific Time.
To join the call, please use the following dial-in information:
US/ | 1-888-510-2154 (toll free) |
Webcast: | https://app.webinar.net/d71VkMRLqmz (copy & paste to your browser) |
Rapid Connect URL: | https://emportal.ink/3AsTwo4 (copy & paste to your browser) |
Replay: A replay of the call will be available until September 3, 2024 and can be accessed by dialing 1-888-660-6345 and entering access code 95960#
RSU Grants
As part of the Company's annual ongoing retention program and as allowed under the 2019 Equity Incentive Plan, as amended and approved by shareholders on June 2, 2022, the Company has granted an aggregate of 2,671,300 Restricted Stock Units ("RSU's") to officers, directors and employees of the Company, set to vest over a three-year period. These grants will be deemed effective as of August 31, 2024.
About Boardwalktech Software Corp.
Boardwalktech has developed a patented Digital Ledger Technology Platform currently used by Fortune 500 companies running mission-critical applications worldwide. Boardwalktech's digital ledger technology and its unique method of managing vast amounts of structured and unstructured data is the only platform on the market today where multiple parties can effectively work on the same data simultaneously while preserving the fidelity and provenance of the data. Boardwalktech can deliver collaborative, purpose-built enterprise information management applications on any device or user interface with full integration with enterprise systems of record in a fraction of the time it takes other non-digital ledger technology-based platforms. Boardwalktech is headquartered in
Forward-Looking Information and Statements
This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the
By identifying such information and statements in this manner, the Company is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance, or achievements of the Company to be materially different from those expressed or implied by such information and statements.
An investment in securities of the Company is speculative and subject to several risks including, without limitation, the risks discussed under the heading "Risk Factors" in the Company's filing statement dated May 30, 2018. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information and forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended.
In connection with the forward-looking information and forward-looking statements contained in this press release, the Company has made certain assumptions. Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward- looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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SOURCE Boardwalktech Software Corp.
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