Boardwalktech Software Corp. (TSE:BWLK)
:BWLK
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Boardwalktech Software
(BWLK)
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Rating:44Neutral
Price Target:
C$0.04
▲(30.00% Upside)
Action:ReiteratedDate:03/01/26
The score is primarily constrained by weak financial performance (declining revenue, large operating/net losses, negative equity, and renewed cash burn). Technical indicators are neutral and provide only modest support, while valuation is difficult to justify due to negative earnings and no dividend yield data.
Positive Factors
Recurring subscription enterprise software model
A subscription/licensing model for an enterprise platform creates durable recurring revenue if customers retain access. Over 2–6 months this underpins predictable revenue streams, higher lifetime value, and scalability through upsells and add-on services, supporting long-term business stability.
Negative Factors
Declining top-line trend
Sustained or worsening revenue declines undermine the ability to achieve scale, dilute fixed-cost absorption, and impede progress toward profitability. Over a 2–6 month horizon, continued top-line weakness limits margin improvement and increases reliance on external financing or rapid cost cuts.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring subscription enterprise software model
A subscription/licensing model for an enterprise platform creates durable recurring revenue if customers retain access. Over 2–6 months this underpins predictable revenue streams, higher lifetime value, and scalability through upsells and add-on services, supporting long-term business stability.
Read all positive factors
Boardwalktech Software (BWLK) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$2.81M
Dividend YieldN/A
Average Volume (3M)210.72K
Price to Earnings (P/E)―
Beta (1Y)1.02
Revenue Growth-21.48%
EPS Growth4.59%
CountryCA
Employees50
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding70,321,260
10 Day Avg. Volume78,666
30 Day Avg. Volume210,724
Financial Highlights & Ratios
PEG Ratio0.17
Price to Book (P/B)-1.34
Price to Sales (P/S)0.93
P/FCF Ratio-1.98
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Boardwalktech Software Business Overview & Revenue Model
Company Description
Boardwalktech Software Corp. (BWLK) is a technology company specializing in digital ledger platforms designed to improve data management and collaboration for enterprises. The company's core product is its patented Digital Ledger Technology (DLT) ...
How the Company Makes Money
Boardwalktech makes money primarily by selling access to its enterprise software platform and related solutions. Revenue is generally generated through software licensing/subscription arrangements (customers pay recurring fees for the right to use...
Boardwalktech Software Earnings Call Summary
Earnings Call Date:Nov 27, 2024
(Q2-2025)
| % Change Since: |
Next Earnings Date:Jul 01, 2026
Earnings Call Sentiment Neutral
The earnings call highlighted significant strides in strategic partnerships and recurring revenue growth, particularly in the banking sector with a top 5 U.S. bank. However, the company faced challenges with a decline in total revenue and adjusted EBITDA losses. Despite these setbacks, the strategic advancements and cash flow improvements suggest a cautiously optimistic outlook.Positive Updates
Significant Growth in Recurring Revenue
The company has achieved a 44% CAGR in recurring revenue over the past three years, attributed to its 'land and expand' strategy with Fortune 500 customers.
Negative Updates
Revenue Decline
Total revenue for the second quarter of fiscal 2025 was $1.3 million, a 16% decrease from the previous year, due to a decline in software, subscription, and professional services revenue.
Read all updates
Q2-2025 Updates
Positive
Negative
Significant Growth in Recurring Revenue
The company has achieved a 44% CAGR in recurring revenue over the past three years, attributed to its 'land and expand' strategy with Fortune 500 customers.
Read all positive updates
Company Guidance
During the Boardwalktech Software Corporation's fiscal second quarter 2025 conference call, key guidance focused on the company's strategic initiatives and financial metrics. Boardwalktech emphasized its "land and expand" strategy, projecting a 44% CAGR in recurring revenue over the past three years. The company also highlighted its transition towards a partner teaming model, which aims to reduce customer acquisition costs and increase sales. Financially, the company reported a second-quarter revenue of $1.3 million, a 16% decrease from the previous year, but a 2% sequential increase. The gross margin was 88.6%, and adjusted EBITDA showed a loss of $366,000, marking a 10% sequential improvement. The company's net IFRS loss was $0.7 million, and it closed the quarter with $800,000 in cash. Looking forward, Boardwalktech is optimistic about its growth prospects, particularly in the financial services sector, anticipating higher growth rates and similar margins based on its sales pipeline visibility.Boardwalktech Software Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
18
Very Negative
Cash Flow
25
Negative
| Breakdown | TTM | Jun 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.83M | 4.80M | 5.97M | 6.47M | 4.37M | 4.34M |
| Gross Profit | 3.20M | 4.21M | 5.35M | 5.87M | 3.79M | 3.75M |
| EBITDA | -1.90M | -2.47M | -2.71M | -3.18M | -3.19M | -2.11M |
| Net Income | -2.99M | -3.20M | -3.13M | -3.58M | -3.56M | -3.61M |
Balance Sheet | ||||||
| Total Assets | 977.64K | 1.68M | 3.77M | 3.78M | 3.99M | 4.48M |
| Cash, Cash Equivalents and Short-Term Investments | 92.12K | 358.51K | 2.23M | 2.19M | 868.96K | 3.10M |
| Total Debt | 2.88M | 3.24M | 3.18M | 127.07K | 501.89K | 646.32K |
| Total Liabilities | 5.63M | 5.04M | 5.36M | 4.75M | 3.56M | 2.00M |
| Stockholders Equity | -4.60M | -3.32M | -1.59M | -961.67K | 426.75K | 2.48M |
Cash Flow | ||||||
| Free Cash Flow | -472.98K | -2.25M | -3.36M | 1.11M | -2.32M | -2.96M |
| Operating Cash Flow | -472.99K | -2.25M | -3.36M | 1.12M | -2.30M | -2.96M |
| Investing Cash Flow | 0.00 | 0.00 | -5.67K | -15.37K | -21.84K | -6.86K |
| Financing Cash Flow | 369.70K | 374.90K | 3.41M | 215.07K | 88.00K | 5.27M |
Boardwalktech Software Technical Analysis
Positive
0.03
Price Trends
0.04
Negative
0.04
Positive
0.06
Negative
Market Momentum
>-0.01
Negative
54.83
Neutral
50.00
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:BWLK, the sentiment is Positive. The current price of 0.03 is below the 20-day moving average (MA) of 0.04, below the 50-day MA of 0.04, and below the 200-day MA of 0.06, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 54.83 is Neutral, neither overbought nor oversold. The STOCH value of 50.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:BWLK.
Boardwalktech Software Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
57 Neutral | C$10.02M | 327.70 | 446.71% | ― | 15.42% | ― | |
53 Neutral | C$417.49M | -22.29 | -28.43% | ― | 0.86% | ― | |
50 Neutral | C$36.02M | 52,438.03 | ― | ― | 104.32% | 70.63% | |
46 Neutral | C$28.55M | -6.96 | 83.70% | ― | -59.22% | 83.08% | |
44 Neutral | C$2.81M | -1.02 | ― | ― | -21.48% | 4.59% |
* Technology Sector Average
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Boardwalktech Software Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Boardwalktech Raises C$384,800 in First Tranche of Private Placement
Positive
Apr 1, 2026
Boardwalktech Software Corp. has closed the first tranche of a non-brokered private placement, issuing 10,994,285 units at C$0.035 per unit for gross proceeds of about C$384,800, with each unit comprising one common share and a two-year warrant ex...
Business Operations and StrategyPrivate Placements and Financing
Boardwalktech to Raise Up to C$1.5 Million via Private Placement
Positive
Mar 23, 2026
Boardwalktech Software Corp. plans to raise up to C$1.5 million through a non-brokered private placement of up to 42,857,143 units priced at C$0.035 each, with each unit comprising one common share and a warrant exercisable at C$0.05 for two years...
Business Operations and Strategy
Boardwalktech Wins New Semiconductor Deal, Expands AI Platform at Global Chemical Client
Positive
Mar 18, 2026
Boardwalktech Software Corp. has secured a new contract with a Silicon Valley fabless semiconductor company to deploy its Digital Ledger Platform, which will automate and consolidate the client’s forecasting and planning processes. The rough...
Business Operations and StrategyExecutive/Board Changes
Boardwalktech Adds Veteran Risk Executive Steve Mills to Advisory Board to Drive Financial Services AI Growth
Positive
Mar 16, 2026
Boardwalktech Software has appointed senior financial services executive Steve Mills to its Corporate Advisory Board, adding deep expertise in internal audit, risk management, governance, and regulatory compliance as the company targets growth in ...
Business Operations and StrategyFinancial Disclosures
Boardwalktech Narrows Losses as Renewals, AI Controls Platform Bolster Enterprise Focus
Neutral
Feb 26, 2026
Boardwalktech reported third-quarter fiscal 2026 revenue of $1 million, flat sequentially but down 25% year over year following earlier non-renewals, while maintaining a robust gross margin of 86.9% and ARR of $3.8 million. The company narrowed it...
Business Operations and StrategyProduct-Related Announcements
Boardwalktech Unveils AI-Powered Verity Platform to Automate Enterprise Controls
Positive
Jan 20, 2026
Boardwalktech Software has launched Boardwalk Verity, an AI-driven intelligent controls platform designed to automate, test, and continuously monitor operational, financial, and compliance controls for large enterprises, particularly in highly reg...
Business Operations and Strategy
Boardwalktech Expands Velocity Platform Deployment at Top-Five U.S. Bank
Positive
Jan 6, 2026
Boardwalktech Software has expanded and extended its contract with a leading global IT services firm to broaden deployment of its Velocity platform at a top-five U.S. bank, a deal valued at more than US$250,000 for 2026 with potential upside as ad...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.