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BOARDWALKTECH REPORTS FIRST QUARTER FISCAL 2024 FINANCIAL RESULTS
BOARDWALKTECH REPORTS FIRST QUARTER FISCAL 2024 FINANCIAL RESULTS Canada NewsWire ...
About this update from Boardwalktech Software Corp.
[{"type":"text","content":"\n \n \n \n BOARDWALKTECH REPORTS FIRST QUARTER FISCAL 2024 FINANCIAL RESULTS\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnml40{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:3.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n SaaS Revenue Grows 23% Y/Y, Offsetting Expected Seasonal Professional Services\n \n \n \n \n \n CUPERTINO, Calif.\n \n \n ,\n \n \n Aug. 24, 2023\n \n \n /CNW/ - (TSXV: BWLK) (OTCQB: BWLKF) Boardwalktech Software Corp. (\"Boardwalktech\" or the \"Company\"), a leading digital ledger platform and enterprise software solutions company, is pleased to report its financial results for the three-month period ended\n \n June 30, 2023\n \n . All figures are reported in U.S. dollars, unless otherwise indicated. Boardwalktech's financial statements are prepared in accordance with International Financial Reporting Standards (\"IFRS\").\n \n \n \n Financial Highlights:\n \n \n \n \n Revenue for Q1-FY24 was\n \n $1.55 million\n \n , a 3% increase from\n \n $1.51 million\n \n in Q1-FY23, and versus\n \n $1.65 million\n \n in Q4-FY23. Revenue from recurring SaaS licenses in Q1-FY24 increased 23% year-over-year from higher incremental licenses executed with both new and existing customers, but was offset by a 46% seasonal decline in professional services.\n \n \n \n \n Annual recurring revenue (\"ARR\"), at\n \n June 30, 2023\n \n was\n \n $5.8 million\n \n , a 14% year-over-year increase versus ARR of\n \n $5.1 million\n \n at\n \n June 30, 2022\n \n . ARR is a non-IFRS measure, and the Company defines ARR as the recurring revenue expected based on annual license subscriptions and recurring services.\n \n \n \n \n Gross margin for Q1-FY24 was 90.0%, comparable with the 90.2% level in Q1-FY23 and Q...