Revenue and profits were up for Ottawa-based Intouch Insight during the company’s second quarter.
The company, which changed its name from In-Touch Survey Systems in July, reported revenue of $3,514,718 during the three-month period that ended on June 30, 2016. That’s a 57 per cent increase from revenues of $2,234,662 it reported during the same period last year.
Net earnings before taxes were also up, rising to $115,841 from $69,973 during the same period last year.
However, gross margin was down slightly to 52 per cent from 54 per cent last year. The company attributed that to changes in its product mix.
"We are pleased with the outcome of the quarter having delivered the highest Q2 revenue in the history of the company. We are also very happy to have delivered net earnings and EBITDA despite significant investments in marketing and product development,” Cameron Watt, the company’s president and CEO, said in a release. “We will continue to invest in product development throughout 2016 as we transition our acquired and legacy technology platforms to a common standard alongside our newer product lines.”
Company-defined EBITDA was up 27 per cent from $262,000 last year to $332,000.
The company also reported an 18 per cent increase in recurring revenue, which rose to $565,620 during the second quarter from $480,276 during the same period last year.