The following is a summary of the Boardwalktech Software Corp. (BWLKF) Q4 2024 Earnings Call Transcript:
Financial Performance:
Boardwalktech reported a total revenue of $6 million for fiscal 2024, which is an 8% decrease compared to $6.5 million in fiscal 2023.
Revenue from new and recurring SaaS licenses saw a 12% year-over-year increase, but was offset by a 60% decline in professional services revenue.
Net loss improved to $3.1 million or $0.06 per share, compared to $3.6 million or $0.08 per share in fiscal 2023.
Gross margin remained high at 89.6%, slightly down from 90.6% in the previous year.
Annualized recurring revenue (ARR) as of March 31, 2024, was $5.6 million, showing stability compared to the prior quarter.
Business Progress:
Boardwalktech transitioned from a traditional direct sales model to leveraging teaming agreements with large global IT services and consulting companies to improve sales flow and shorten the sales cycle.
Announced several teaming agreements which provided access to new deal flow and improved conversion rates.
Focus has shifted more toward growing recurring revenue rather than professional services.
Introduced new partners like Hexaware, LTIMindtree, and UST Group.
Incorporation of key new personnel including Chief Marketing Officer Elizabeth Venafro and consultant Jay Cherrie to bolster sales efforts.
Opportunities:
Boardwalktech's partnerships with major IT services firms are seen as a positive leading indicator of near-term revenue possibilities and business success.
Advances in expanding Boardwalktech's footprint in financial institutions through their Velocity product, promising a 10x ROI improvement over alternative solutions.
Risks:
No explicit risks/opportunities detected.
More details: BOARDWALKTECH SOFTWARE CORP IR
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