Company: Boardwalktech Software Corp.
Director and CEO: Andrew Duncan
Markets: TSX-V: BWLK, OTCQB: BWLK.F
Market Cap: US$6,930,297
Share Price: US$.48
52-week high/low: $0.34/$0.65
Based in Silicon Valley, Boardwalktech is an enterprise software SaaS provider that is transforming manual business processes like procurement, budgeting and risk management. Used by over 27 Fortune 500 companies, Boardwalktech’s patented Digital Ledger is a cloud-based platform that revolutionizes how companies work with both structured and unstructured data—automating information exchange and eliminating the need to manually attach spreadsheets or PDFs to emails.
“What Boardwalktech does is create a centralized form, a Digital Ledger,” explains Andrew Duncan, the company’s president and CEO. “Think about it as a spreadsheet where multiple stakeholders around the world can work on the same spreadsheet and data at exactly the same time with a complete history of every change ever made at the cell level.”
“Boardwalktech has several patents and several more that are pending, offering a full stack platform that allows customers to rapidly deliver applications to solve every-day problems.”
Greg Beckett, Senior Analyst and Chartered Investment Manager for the Richmond Club
Boardwalktech’s software gives companies the ability to collaborate interdepartmentally and externally with suppliers, manufacturers, even customers. Multiple users can work at the same time in the same ledger, which manages internal and external information flows in real time.
Every transaction is automatically time stamped, which gives clients greater accountability, traceability and auditability. “This technology is designed to help our clients make informed decisions in a shorter span of time, ultimately creating efficiencies, increasing revenues and saving them money. In fact, many of our customers realize a 3-5 times ROI in the first year of using our platform,” says Duncan.
The company’s client list is impressive and includes Apple, Ernst and Young, Levi’s, and Coca Cola. “Many of our clients have seen a three to five times return in the first year of using Boardwalktech,” says Duncan, adding that it’s part of what makes the company a leader in the digital transformation market. Reports by Deloitte, McKinsey, EY and Gartner have all identified this as a critical market and investment trend, which Boardwalktech is set to capitalize on.
The company announced in late January that its six-month pipeline has grown from US$5.3 million to US$7.1 million since November, and that it is continuing to reduce its aggregated debt. Year-to-date billings for the second quarter are up 80% over the same period last year, while EBITDA improved 35%. That means Boardwalktech is on track for achieving profitability by spring 2020.
“There is a surge in demand from companies that not only want to, but need to digitize their business,” says Greg Beckett, Richmond Club Senior Analyst and Chartered Investment Manager. Beckett picks stocks for the Richmond Club Index, which has averaged a return of 20.4% per year over the last 15 years. “Boardwalktech has several patents and several more that are pending, offering a full stack enterprise platform that allows customers to rapidly deliver applications to solve every-day problems.”
Beckett says now is the right time for investors to get in on the stock, because:
- Boardwalktech’s revenue and pipeline continue to grow fast — year-to-date billings are up 80% and since reporting its results in November, the company’s six-month pipeline has grown 35% to $7.1 million, which would more than double its revenue.
- The company is on track to be EBITDA positive this spring, through a combination of business growth and ongoing controlled operating expenses.
- Boardwalktech was first to market with an enterprise SaaS Digital Ledger with 90% gross margins and high recurring revenue.
- The company recently listed on the OTCQB, which will expand the brand reach, especially in the United States, and liquidity