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Overview of Boardwalktech Software Corp.
Boardwalktech Software Corp. (BWLKF) is a pioneering digital ledger platform and enterprise software solutions provider that specializes in transforming traditional, spreadsheet‐driven processes into secure, compliant, and scalable applications. Leveraging its patented digital ledger technology, Boardwalktech is recognized for its capability to convert Excel-based end user computing (EUC) environments into full-stack, auditable applications. This innovative conversion process integrates key features such as secure data access, dynamic download of access-controlled data, and automatic clearing of sensitive information, thereby significantly mitigating risks and enhancing compliance. Industry-specific keywords such as digital ledger technology, enterprise software solutions, and financial compliance attest to the company’s specialized expertise and commitment to secure data governance.
Core Technology and Intellectual Property
At the heart of Boardwalktech’s offerings is its patented Digital Ledger Technology Platform, a unique architecture that enables multiple parties to work concurrently on the same datasets without compromising data integrity or provenance. This platform supports a wide range of operations from financial data remediation to supply chain management, underpinning critical business processes for Fortune 500 companies and other large-scale organizations. The technology not only simplifies complex data management tasks but also offers enhanced auditability and governance features that are essential for regulatory compliance in financial institutions.
Key Product Offerings: Velocity and Unity Central
The Velocity product is a flagship solution designed to transition legacy Excel and Access-based systems into compliant and auditable digital frameworks. Financial institutions, hedge funds, and private equity firms utilize Velocity to dramatically reduce transformation costs and deployment time, benefiting from a solution that safeguards sensitive financial models while preserving the familiar Excel interface. In parallel, the Unity Central platform addresses significant challenges in supply chain and order execution. It delivers improved visibility and control by linking unstructured and structured data, providing real-time monitoring, proactive alerts, and intelligent insights that are crucial for managing complex, document-intensive environments.
Market Position and Strategic Partnerships
Boardwalktech occupies a distinctive position in the market by bridging the gap between traditional legacy systems and modern, cloud-based data management solutions. The company’s strategic partnerships with globally recognized firms such as Tata Consultancy Services (TCS) and UST are a testament to its credibility and capability. These alliances empower Boardwalktech to deploy its Velocity and Unity Central solutions at scale across the financial services and supply chain sectors. The company’s emphasis on channel sales, teaming agreements, and investor relations further positions it to address evolving market demands through proven digital transformation strategies.
Business Model and Value Proposition
The business model of Boardwalktech is multifaceted, centering on delivering high-impact transformation solutions that convert risky, non-compliant legacy systems into modern and secure enterprise applications. By facilitating the rapid remediation of outdated EUC environments, Boardwalktech not only helps financial institutions improve their risk and compliance frameworks but also enhances operational efficiency. Its model is built on recurring SaaS license revenues and service-based consulting engagements, ensuring that the value proposition remains robust and scalable across diverse markets. This integrated approach provides clients with significant return on investment (ROI) by reducing transformation time and costs while boosting reliability and compliance.
Industry Impact and Expertise
Boardwalktech’s disruptive digital ledger technology has made significant inroads in industries where data integrity and operational compliance are paramount. Its solutions are particularly impactful in the financial and supply chain sectors, where the rapid transformation of legacy data systems is critical. The company’s expertise in managing both structured and unstructured data sets it apart from traditional IT solutions, establishing it as a trusted provider capable of delivering state-of-the-art, purpose-built applications. By integrating sophisticated audit trails, dynamic access controls, and seamless user interfaces, Boardwalktech ensures that multiple parties can collaborate efficiently without compromising on data security.
Conclusion
In summary, Boardwalktech Software Corp. stands out as an innovative force in the realm of digital transformation. Its advanced digital ledger technology platform and dual product offerings – Velocity for financial compliance and Unity Central for supply chain management – enable organizations to modernize legacy systems with exceptional speed and security. With a strong emphasis on strategic partnerships and a proven track record of implementing mission-critical applications for Fortune 500 enterprises, Boardwalktech reflects deep industry expertise and a commitment to providing high-quality, secure, and compliant software solutions. Whether it is mitigating risks associated with legacy EUCs or enhancing supply chain visibility, Boardwalktech delivers a comprehensive suite of services built on a foundation of technical excellence and operational integrity.
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.
Boardwalktech Software Corp. (TSXV: BWLK) (OTCQB: BWLKF), a digital ledger platform and enterprise software solutions company, has announced its upcoming Q1 fiscal 2025 financial results conference call. The call is scheduled for August 27, 2024, at 5:00 PM EST, following the release of quarterly financials after market close on the same day.
Investors and analysts are invited to participate in the call to discuss the financial results for the period ending June 30, 2024. The company will provide details of the results and answer questions from the financial and investing communities. Participants can join via phone or webcast, with replay options available until September 2024.
Boardwalktech Software Corp. (BWLKF) reported its financial results for fiscal year 2024, ending March 31, 2024. Total revenue decreased by 8% to $6.0 million, compared to $6.5 million in fiscal 2023. This decline was due to a 60% drop in professional services revenue, despite a 12% increase in SaaS licenses. Annual recurring revenue (ARR) grew by 3% to $5.6 million. The company's gross margin remained stable at 89.6%, and its Adjusted EBITDA loss was $1.6 million, consistent with the previous year. However, Q4 showed a 20% improvement in Adjusted EBITDA compared to Q4 2023. The IFRS net loss was $3.1 million, a 13% improvement from 2023. The company ended the year with $2.2 million in cash and $2.25 million in debt. Key operational highlights include multiple new partnerships and expanded commercial engagements. Boardwalktech also announced a realignment to save $1 million annually.
Boardwalktech Software Corp. (BWLKF) will announce its Fiscal Year and Fourth Quarter 2024 financial results on June 27, 2024, after market close. The results will cover the period ending March 31, 2024. A conference call to discuss these results is scheduled for 5:00 PM EST on the same day. North American and European investors can participate via provided phone numbers, and a replay will be available until July 4, 2024. Boardwalktech, headquartered in Cupertino, California, provides a patented Digital Ledger Technology Platform used by Fortune 500 companies for mission-critical applications, offering unique data management capabilities. Visit www.boardwalktech.com for more information.
On June 11, 2024, Boardwalktech Software and UST announced a strategic partnership to expand Boardwalktech's Velocity product in the financial services sector. UST will provide consulting and professional services to introduce Velocity to the banking industry. Velocity transforms Excel and Access-based End User Computing environments into compliant and auditable solutions, addressing major compliance and risk management needs. The product claims a 10x performance improvement over competitors. Boardwalktech’s digital ledger platform offers secure, efficient, and scalable data management, benefiting financial institutions’ operational and governance processes.
Boardwalktech Software Corp. and UST have announced a teaming agreement focused on the banking and financial services sector. UST will provide consulting and professional services to promote Boardwalktech's Velocity product. Velocity helps financial institutions convert Excel and Access-based environments into compliant, auditable, and scalable solutions. According to users, Velocity demonstrates a 10x improvement in performance and cost efficiency compared to other solutions. This partnership aims to enhance process execution, analytics, risk, and compliance, especially under increasing regulatory scrutiny.
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