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BOARDWALKTECH REPORTS SECOND QUARTER FISCAL 2024 FINANCIAL RESULTS
BOARDWALKTECH REPORTS SECOND QUARTER FISCAL 2024 FINANCIAL RESULTS Canada NewsWire ...
About this update from Boardwalktech Software Corp.
[{"type":"text","content":"\n \n \n \n BOARDWALKTECH REPORTS SECOND 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.prnml40{\nMARGIN-LEFT:3.33em !IMPORTANT\n}\n.prntal{\nTEXT-ALIGN: LEFT\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n Year-Over-Year EBITDA Growth of 40% and Positive Cash from Operations\n \n \n \n \n \n CUPERTINO, Calif.\n \n \n ,\n \n \n Nov. 29, 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- and six-month period ended\n \n September 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 Q2- 2024 was\n \n $1.53 million\n \n , a 3% increase from\n \n $1.48 million\n \n in Q2-FY23 and versus\n \n $1.55 million\n \n in Q1-FY23. Revenue from recurring SaaS licenses in Q2-FY24 increased 10% year-over-year from incremental licenses executed with new and existing customers, but was offset by a 21% decline in professional services.\n \n \n Annual recurring revenue (\"ARR\"), a non-IFRS metric, at\n \n September 30, 2023\n \n was\n \n $5.7 million\n \n , a 3.6% year-over-year increase versus ARR of\n \n $5.5 million\n \n at\n \n September 30, 2022\n \n . The Company defines ARR as the annual recurring revenue expected based on license subscriptions and recurring services recognized in the quarter.\n \n \n Gross margin for Q2-FY24 was 90.1%, comparable with the 90.3% level in Q2-FY23 and 90.0% in Q1-FY24.\n \n \n Adjusted EBITDA for Q2-FY24 was a loss of\n \n $(0.36) million\n \n , a 47% improvement over the\n \n $(0.68) million\n \n loss in Q2 Fiscal 2023 and a 30% improvement over the\n \n $(0.51) million\n \n loss in Q1 Fiscal 2024.\n \n \n Cash inflow from Operating Activities was a positive\n ...