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BOARDWALKTECH REPORTS FOURTH QUARTER AND ANNUAL FISCAL 2024 FINANCIAL RESULTS
BOARDWALKTECH REPORTS FOURTH QUARTER AND ANNUAL FISCAL 2024 FINANCIAL RESULTS Canada Ne...
About this update from Boardwalktech Software Corp.
[{"type":"text","content":"\n \n \n \n BOARDWALKTECH REPORTS FOURTH QUARTER AND ANNUAL 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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n CUPERTINO, Calif.\n \n \n ,\n \n \n June 27, 2024\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 fiscal year 2024 ended\n \n March 31, 2024\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 Fiscal 2024 totaled\n \n $6.0 million\n \n compared to\n \n $6.5 million\n \n for Fiscal 2023, representing an 8% decrease in annual revenue. The portion of revenue from new and recurring SaaS licenses in Fiscal 2024 increased by 12% year-over-year but was offset by a 60% decline in professional services revenue.\n \n \n Annual recurring revenue (\"ARR\"), a non-IFRS metric, at\n \n March 31, 2024\n \n was\n \n $5.6 million\n \n , a 3% year-over-year increase versus ARR of\n \n $5.5 million\n \n at\n \n March 31, 2023\n \n . The Company defines ARR, a non-IFRS metric, as the annual recurring revenue expected based on trailing quarterly revenue from license subscriptions and recurring services.\n \n \n Gross margin for Fiscal 2024 was 89.6%, comparable with 90.6% in Fiscal 2023.\n \n \n Adjusted EBITDA for Fiscal 2024 was a loss of\n \n $(1.6) million\n \n , comparable with\n \n $(1.6) million\n \n loss for Fiscal 2023. However, these annual figures do not show the quarterly progress as the Adjusted EBITDA loss for Q4 Fiscal 2024 was\n \n $(0.3) million\n \n , a 20% improvement over the\n \n $(0.4) million\n \n Adjusted EBITDA for Q4 Fiscal 2023 and a 10% sequential improvement over Adjusted EBITDA for Q3 Fiscal 2024.\n \n \n Non-IFRS net loss for Fiscal 2024 (as defined in the Non-IFRS Financial Measures se...