Boardwalktech Reports Fourth Quarter and Annual Fiscal 2026 Financial Results

Cupertino, California--(Newsfile Corp. - July 30, 2026) - Boardwalktech Software Corp. (TSXV: BWLK) (OTCQB: BWLKF) ("Boardwalktech" or the "Company"), a leading digital ledger platform and enterprise software solutions company, is pleased to report its financial results for the fiscal year ended March 31, 2026 ("FY26"). All figures are reported in U.S. dollars, unless otherwise indicated. Boardwalktech's financial statements are prepared in accordance with International Financial Reporting Standards ("IFRS"). Please refer to the Company's March 31, 2026 Audited Consolidated Financial Statements as well as the Management's Discussion and Analysis ("MD&A") for the three months and year ended March 31, 2026, filed on SEDAR+ at www.sedarplus.ca for more information.

Financial Highlights for three-months ended March 31, 2026 ("Q4-FY26"): * Revenue for Q4-FY26 was $0.8 million, an 18% decrease from $1 million in Q4-FY25, primarily due to a decline in software and subscription services revenue from two previously disclosed non-renewals in FY-25. * The Company defines annual recurring revenue ("ARR") as the recurring revenue expected based on annual license subscriptions and recurring services. ARR is a non-IFRS measure. ARR at March 31, 2026 was $3.5 million. * Gross margin for Q4-FY26 was 83.5%, versus 86.9% in Q3-FY26 and 85.3% in Q4-FY25. The decrease from Q3-FY26 is due lower revenues combined with a slight increase in data center fees. The decrease from Q4-FY25 is due to lower revenue levels. * Adjusted EBITDA for Q4-FY26 was a loss of $(0.3) million, a 19% decrease versus $(0.2) million of adjusted EBITDA in Q3-FY26, but a 63% improvement over $(0.8) million in Q4-FY25. * Net loss for Q4-FY26 was $(0.9) million ($(0.01) per basic and diluted share), versus a $(0.4) million loss in Q3-FY26 ($(0.01) per basic and diluted share), and a $(1.1) million loss in Q4-FY25 ($(0.02) per basic and diluted share). The increase over Q3-FY26 is due to a lower gross margin combined with $0.2 million for the derecognition of lease liability and impairment of right-of-use assets, $0.1 million severance costs and a $0.1 loan amendment fee. * Total selling, general and administration ("SG&A") expenses in Q4-FY26 totaled $1 million, a $0.1 million decrease from $1.1 million reported in Q3-FY26 and a $0.6 million decrease from the $1.6 million reported in Q4-FY25, as the Company continues to recognize savings from previously announced cost alignment efforts. * Non-IFRS net loss for Q4 Fiscal 2026 totaled $(0.4) million ($(0.01) per basic and diluted share), versus $(0.3) million in Q3 Fiscal 2026 ($(0.00) per basic and diluted share) and $(0.9) million in Q4 Fiscal 2025 ($(0.02) per basic and diluted share). * As of March 31, 2026, Boardwalk had $140 thousand of cash plus $180 thousand of collectible receivables. Subsequent to year end, the Company closed a non-brokered private placement for C$1.5 million. * Outstanding debt as at March 31, 2026 was $2.5 million which was drawn against the previously announced $4 million line of credit from Celtic Bank.