CUPERTINO, Calif., Feb. 26, 2026 /CNW/ - (TSXV:BWLK) (OTCQB:BWLKF), Boardwalktech Software Corp. ("Boardwalktech" or the "Company"), a leading digital ledger platform and enterprise software solutions company, is pleased to report its financial results for the three-month period ended December 31, 2025 ("Q3-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 Unaudited Condensed Consolidated Financial Statements and Management's Discussion and Analysis ("MD&A") for the three-month period ended December 31, 2025, filed on SEDAR+ at www.sedarplus.ca for more information.

Financial Highlights:

Revenues for Q3-FY26 totaled $1 million, unchanged from $1 million of revenue reported in Q2-FY26. Revenues for Q3-FY26 decreased 25% from $1.3 million of revenue in Q3-FY25, primarily due to a decline in software and subscription services revenue from two previously disclosed non-renewals in Fiscal 2025.

Annual Recurring Revenue ("ARR"), a non-IFRS measure, at December 31, 2025 was $3.8 million. The Company defines ARR, as the annual recurring revenue expected based on trailing quarterly revenue from license subscriptions and certain recurring services.

Gross margin for Q3-FY26 was 86.9%, versus 86.7% in Q2-FY26 and 88.4% in Q3-FY25. The improvement over Q2-FY26 is due to a decrease in cost of sales, primarily hosting costs that are anticipated to continue at a lower rate. The decrease from Q3-FY25 is due to lower revenue levels.

Adjusted EBITDA for Q3-FY26 was a loss of $(0.2) million, which was a 35% improvement versus $(0.4) million of adjusted EBITDA in Q2-FY26 and a 19% improvement over $(0.4) million in Q3-FY25.

Net loss for Q3-FY26 was $(0.4) million ($(0.01) per basic and diluted share), versus a $(0.5) million loss in Q2-FY26 ($(0.01) per basic and diluted share), and a $(0.6) million loss in Q3-FY25 ($(0.01) per basic and diluted share). This represented an 18% sequential improvement over Q2-FY26 due to an increase in revenues and a decrease in costs. Total selling, general and administration ("SG&A") expenses in Q3-FY26 totaled $1.1 million, a $0.1 million decrease from $1.2 million reported in Q2-FY26 and a $0.3 million decrease from the $1.4 million reported in Q3-FY25, as the Company continues to recognize savings from previously announced cost alignment efforts.

Non-IFRS net loss for Q3 Fiscal 2026 (as defined in the Non-IFRS ...