Q2 2025 Boardwalktech Software Corp Earnings Call Transcript
Key Points
- Boardwalktech Software Corp (BWLKF) has seen a 44% CAGR in recurring revenue over the past three years, driven by its land and expand strategy.
- The company has strengthened its sales and distribution strategy by partnering with large global IT services firms like Tata Consulting Services and HCL Tech.
- Boardwalktech's Velocity solution is gaining traction in the financial services sector, with successful deployment in a top five US bank.
- The company reported a positive net cash inflow from operations of $219,000 in the second quarter, a 24% improvement year-over-year.
- Boardwalktech is focused on achieving cash breakeven adjusted EBITDA with modest revenue growth assumptions and cost-saving measures.
- Total revenue for the second quarter of fiscal 2025 decreased by 16% year-over-year, primarily due to a decline in software and subscription services.
- The company experienced a 21% decline in professional services revenue as two customers declined to renew licenses.
- Adjusted EBITDA for the second quarter was a loss of $366,000, indicating ongoing financial challenges.
- The company's net IFRS loss for the quarter was $0.7 million, showing only a slight improvement from the previous quarter.
- Boardwalktech's cash position remains limited, with approximately $800,000 of cash and collected trade receivables at the end of the quarter.
Good afternoon, ladies and gentlemen, and welcome to the Boardwalktech Software Corporation fiscal second-quarter 2025 quarterly call conference. (Operator Instructions) This call is being recorded on Wednesday, November 27, 2024.
I would now like to turn the conference over to Ryan Freemantle from Sophic Capital. Please go ahead.
Good afternoon, and thank you for joining us for Boardwalktech Software Corporation's conference call to discuss its financial results for the second quarter of 2025 ending, September 30, 2024. I'm Ryan from Sophic Capital, and we handle Boardwalktech's Investor Relations.
On the call today, we have Boardwalktech's Chief Executive Officer and Chairman of the Board, Andrew Duncan; and Chief Financial Officer, Charlie Glavin. (Event Instructions)
Before management discusses the results, I'd like to remind everyone that certain statements in this call may be forward-looking in nature. These include statements involving known and unknown risks,
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