Q1 2025 Boardwalktech Software Corp Earnings Call Transcript
Key Points
- Boardwalktech Software Corp (BWLKF) has strengthened its sales and distribution strategy.
- The company secured a credit facility to enhance liquidity.
- Boardwalktech hired a new Chief Marketing Officer to bolster its marketing efforts.
- The pipeline of new business has expanded through recently announced teaming agreements.
- The company is executing delivery of its Velocity solution across a top five bank in the United States.
- Total revenue for the first quarter of fiscal 2025 decreased by 20% compared to the same quarter last year.
- There was a 48% decline in revenue from professional services.
- Software and subscription service revenue declined by 15%.
- Gross margin for the first quarter of fiscal 2025 was 87.9%, down from 90% in the same quarter last year.
- The net loss for the first quarter of fiscal 2025 was $800,000, although this was a 14% improvement from the previous year.
Good afternoon, ladies and gentlemen, and welcome to the Boardwalktech Software Corporation fiscal first quarter 2025 quarterly conference call. (Operator Instructions) This call is being recorded on Tuesday, August 27, 2024. I would now like to turn the conference over to Graham Farrell. Investor Relations, 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 first quarter of fiscal 2025, period ended June 30, 2024. 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 other
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