The following is a summary of the Boardwalktech Software Corp. (BWLKF) Q1 2025 Earnings Call Transcript:
Financial Performance:
Boardwalktech reported a revenue decline to $1.25 million in Q1 2025, a 20% decrease year-over-year.
Gross margin for Q1 2025 was 87.9%, demonstrating a slight decrease from the previous year.
Net loss improved to $800,000 in Q1 2025, a 14% improvement from the previous year.Annualized recurring revenue (ARR) as of June 30, 2024, was $4.8 million.
Business Progress:
Boardwalktech has enhanced its sales strategy by shifting focus to partner and teaming sales channels.
New teaming agreements with global IT firms, including Tata Consulting Services, aim to improve deal closure times and reduce costs.
The company is expanding its pipeline with new opportunities in various sectors such as banking, aerospace, and healthcare.
Added new key roles including a Chief Marketing Officer to strengthen market outreach and a transformation expert to focus on financial services.
Opportunities:
Teaming agreements are expected to generate significant revenue through professional services as the company continues to penetrate global large firms.
Broadening the customer base to include sectors outside of the traditional financial services area, potentially increasing market share and revenue sources.
Risks:
Delays in deal implementation and revenue recognition as experienced with the rollout in a large bank may affect projected timelines for profitability.
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