Boardwalktech Software (BWLK) AI Stock Analysis

• Market Cap: C$3.50M
• Dividend Yield: N/A
• Average Volume (3M): 210.72K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.75
• Revenue Growth: -21.48%
• EPS Growth: 4.59%
• Country: CA
• Employees: 50
• Sector: Technology
• Sector Strength: 88
• Industry: Software - Application
• EPS (TTM): -0.01
• Shares Outstanding: 69,936,646
• 10 Day Avg. Volume: 78,666
• 30 Day Avg. Volume: 210,724
• PEG Ratio: 0.17
• Price to Book (P/B): -1.34
• Price to Sales (P/S): 0.93
• P/FCF Ratio: -1.98
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 47 Neutral
• Price Target: C$0.05 ▲(63.33% Upside)

The score is held down primarily by weak financial performance (declining revenue, heavy losses, negative equity, and ongoing cash burn). Technicals provide a partial offset with improving short-term momentum, while valuation remains constrained by unprofitability and no provided dividend yield.

Positive Factors

High gross margins

An ~86% gross margin reflects the software-centric economics of Boardwalktech’s platform, enabling strong incremental profitability as revenue scales. Durable high gross margins give room to absorb sales and R&D investment and support long-term margin expansion if growth resumes.

Enterprise SaaS recurring revenue model

Boardwalktech’s core revenue comes from SaaS subscriptions and recurring support, a structural model that drives predictable revenue, customer retention value, and expansion opportunities. This durable model supports multi-year contracts and potential ARR growth with successful account expansion.

Improving free cash flow trend

While FCF is still negative, the stated TTM rebound indicates operating leverage is beginning to respond to actions taken. A sustained improvement in free cash flow over multiple quarters would reduce financing need and materially strengthen the company’s long-term financial flexibility.

Negative Factors

Declining revenue trend

Revenue contraction and steep multi-period growth declines indicate the company is losing commercial momentum or failing to scale adoption. Persistent top-line weakness undermines ability to leverage high gross margins and prolongs the path to operating profitability and sustainable cash generation.

Negative shareholders' equity / stressed balance sheet

A negative equity position and meaningful debt versus a small asset base signal high balance-sheet risk and limited capital buffers. This condition constrains strategic flexibility, increases refinancing risk, and may force dilutive or costly financing before sustained profitability is achieved.

Persistent operating losses and cash burn

Deeply negative margins and ongoing cash burn reflect that operating costs far exceed gross profit. Absent sustained revenue recovery or structural cost reductions, continued losses will necessitate external financing, which can dilute shareholders and distract management from long-term product and sales execution.

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) platform, which enables organizations to manage, share, and analyze data in a secure and efficient manner. Boardwalktech serves a variety of sectors, including supply chain, finance, and operations, offering solutions that enhance transparency, efficiency, and decision-making processes across complex business environments.

How the Company Makes Money

Boardwalktech Software primarily generates revenue through the licensing and subscription of its Digital Ledger Technology (DLT) platform. The company offers its platform as a software-as-a-service (SaaS) model, allowing businesses to subscribe to access and utilize its data management solutions. Additional revenue streams include consulting services to customize and integrate the platform into existing business processes, as well as ongoing support and maintenance fees. Strategic partnerships with major corporations and technology firms also contribute to its earnings, as these collaborations help expand its market reach and enhance its product offerings.

Boardwalktech Software Financial Statement Overview

Summary

Financial health is weak: TTM revenue declined (-7.284), profitability is deeply negative (net margin -75.8% with negative EBIT/EBITDA), equity is negative (high balance-sheet stress), and operating/free cash flow are negative (cash burn). Strong gross margin (~86%) is a positive, but it is not translating into sustainable earnings or cash generation.

Income Statement

TTM (Trailing-Twelve-Months) revenue declined (-7.284) and the business remains deeply unprofitable, with net margin at -75.8% (also negative EBIT and EBITDA margins). A clear positive is very strong gross margin (TTM ~86%), indicating the core product economics are solid, but operating costs continue to overwhelm gross profit and losses have persisted across the annual periods provided.

Balance Sheet

The balance sheet is highly stressed: stockholders’ equity is negative in TTM and recent annual periods (TTM equity -4.20M vs. assets 1.25M), which materially increases financial risk and limits flexibility. Debt is meaningful (TTM total debt ~3.07M) relative to the asset base, and the negative equity position makes leverage measures difficult to interpret, but the overall picture is a weak capitalization profile.

Cash Flow

Cash generation is a key concern: TTM operating cash flow and free cash flow are both negative (-1.10M), following negative free cash flow in the most recent annual periods as well. There is improvement versus the prior annual period (TTM free cash flow growth shows a sizable rebound), but the company is still cash-burning overall, which can increase reliance on financing until profitability improves.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	4.14M	4.80M	5.97M	6.47M	4.37M	4.34M
Gross Profit	3.57M	4.21M	5.35M	5.87M	3.79M	3.75M
EBITDA	-2.34M	-2.47M	-2.71M	-3.18M	-3.19M	-2.11M
Net Income	-3.14M	-3.20M	-3.13M	-3.58M	-3.56M	-3.61M
Balance Sheet
Total Assets	1.25M	1.68M	3.77M	3.78M	3.99M	4.48M
Cash, Cash Equivalents and Short-Term Investments	38.17K	358.51K	2.23M	2.19M	868.96K	3.10M
Total Debt	3.07M	3.24M	3.18M	127.07K	501.89K	646.32K
Total Liabilities	5.50M	5.04M	5.36M	4.75M	3.56M	2.00M
Stockholders Equity	-4.20M	-3.32M	-1.59M	-961.67K	426.75K	2.48M
Cash Flow
Free Cash Flow	-1.10M	-2.25M	-3.36M	1.11M	-2.32M	-2.96M
Operating Cash Flow	-1.10M	-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	950.14K	374.90K	3.41M	215.07K	88.00K	5.27M

Boardwalktech Software Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.03
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: 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 0.07, indicating a neutral trend. The MACD of <0.01 indicates Negative momentum. The RSI at 61.80 is Neutral, neither overbought nor oversold. The STOCH value of 62.22 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

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
RW	57 Neutral	C$18.37M	73.77	446.71%	―	15.42%	―
RSS	51 Neutral	C$36.42M	-104.76	―	―	104.32%	70.63%
REAL	51 Neutral	C$475.87M	-11.52	-22.15%	―	0.86%	―
BWLK	47 Neutral	C$3.50M	-0.66	―	―	-21.48%	4.59%
NTAR	41 Neutral	C$35.46M	-6.28	―	―	-59.22%	83.08%

Boardwalktech Software Corporate Events

Boardwalktech Unveils AI-Powered Verity Platform to Automate Enterprise Controls

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 regulated sectors such as banking and insurance. By replacing labor-intensive, manual, point-in-time testing with continuous, real-time automation and analytics, Verity aims to cut audit and operational costs by millions of dollars annually, strengthen regulatory compliance through immutable audit trails and early-warning risk intelligence, and position the company as an early mover in modernizing enterprise controls—an opportunity underscored by interest from several top-tier U.S. banks.

The most recent analyst rating on (TSE:BWLK) stock is a Hold with a C$0.04 price target. To see the full list of analyst forecasts on Boardwalktech Software stock, see the TSE:BWLK Stock Forecast page.

Boardwalktech Expands Velocity Platform Deployment at Top-Five U.S. Bank

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 additional processes are migrated. The move underscores growing demand among large financial institutions to replace thousands of manual, Excel-based workflows with automated, compliant systems, reinforcing Boardwalktech’s position in governance, risk and compliance technology and signaling further revenue and footprint growth opportunities in the financial services sector as banks seek scalable, regulator-aligned solutions.

The most recent analyst rating on (TSE:BWLK) stock is a Hold with a C$0.03 price target. To see the full list of analyst forecasts on Boardwalktech Software stock, see the TSE:BWLK Stock Forecast page.

Boardwalktech Reports Q2-FY26 Financial Results with Positive Outlook

Boardwalktech Software Corp. reported a 4% increase in revenue for Q2-FY26 compared to the previous quarter, although it experienced a 25% decrease year-over-year due to customer non-renewals. Despite challenges in revenue growth, the company anticipates improved performance in the second half of the year, driven by expanding customer deployments and AI-enhanced capabilities. Cost-reduction initiatives and ongoing product development efforts are expected to help the company reach EBITDA break-even soon.

Boardwalktech Reports Strong Shareholder Support at 2025 AGM

Boardwalktech Software Corp. announced the results of its 2025 Annual General Meeting, where shareholders voted on key corporate matters. The election of directors saw high approval rates, with Andrew T. Duncan receiving 95.810% of votes. MNP LLP was appointed as the company’s auditors with overwhelming support, and the equity incentive plan was approved by a majority. The meeting, which had a 16.32% participation rate of the company’s issued and outstanding common shares, reflects strong shareholder engagement and support for the company’s strategic direction.

Boardwalktech Expands Global Enterprise Contracts, Boosting Revenue

Boardwalktech Software Corp. has announced the renewal and expansion of contracts with major global enterprises, including the world’s largest social media company, a multinational IT services firm, and a leading chemical manufacturer. These expansions signify increased recurring revenue and deeper integration of Boardwalktech’s technology into these enterprises, highlighting the growing trust in their digital ledger platform. The expansions are expected to drive organic growth and support the company’s long-term growth objectives by delivering tangible results across diverse industries.

Boardwalktech Expands Global Partnerships, Boosting Recurring Revenue

Boardwalktech Software Corp. has announced the renewal and expansion of contracts with several major global enterprises, enhancing its recurring revenue. The world’s largest social media company has extended its partnership with Boardwalktech, while a major IT services firm has increased its user base and functionality of its pricing application on Boardwalktech’s platform. Additionally, a global chemical manufacturer is expanding its use of Boardwalktech’s Unity Central product to optimize supply chain operations. These expansions reflect the growing trust in Boardwalktech’s technology across diverse industries, driving organic growth and reinforcing its market position.