Q4 2024 Boardwalktech Software Corp Earnings Call Transcript
Key Points
- Boardwalktech Software Corp (BWLKF) has a strong base business with a roster of Fortune 50 clients, providing a solid foundation for future growth.
- The company has shifted its sales strategy to leverage teaming agreements with large global IT services and consulting companies, which is expected to improve conversion rates and decrease sales cycles.
- Boardwalktech Software Corp (BWLKF) has seen a 12% increase in revenue from new and recurring SaaS licenses year over year.
- The company has maintained high gross margins of around 89.6%, indicating efficient cost management.
- Boardwalktech Software Corp (BWLKF) has a stronger balance sheet with $2.2 million in cash balances and another $0.5 million in trade receivables from new and renewing annual licenses.
- Total revenue for fiscal 2024 decreased by 8% compared to fiscal 2023, primarily due to a 50% decline in professional services revenue.
- The company's annualized recurring revenue (ARR) remained flat at $5.6 million as of March 31, 2024.
- Net loss for fiscal 2024 was $3.1 million, although this was a 13% improvement from the previous year.
- The impact of the company's realignment and cost efforts announced in January 2024 is expected to be realized in the upcoming quarters, indicating potential short-term financial strain.
- Despite improvements, the company still reported a non-IFRS loss of $1.6 million for fiscal 2024, comparable to the previous year.
Good afternoon, ladies and gentlemen, and welcome to the Boardwalktech Software Corp fiscal full year 2024 earnings call. (Operator Instructions) This call is being recorded on Thursday, June 27, 2024.
And I would now like to turn the conference over to Mr. Graham Farrell. Thank you, please go ahead.
Thank you, operator. Good afternoon, and welcome, everyone to Boardwalktech's quarterly conference call. This call will cover Boardwalktech's financial and operating results for the full year and fourth quarter of fiscal 2020 for period ended March 31, 2024. Our our call today will be led by Boardwalktech's President and Chief Executive Officer, Andy Duncan, along with the company's Chief Financial Officer, Charlie Glavin.
Before we begin with our formal remarks, I would like to remind everyone that some of the statements on this conference call may be forward-looking statements. Forward-looking statements may include, but are not necessarily limited to, financial projections or
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