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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