As ProntoForms (TSX-V:PFM) expands its business with Fortune 500 customers, the Ottawa-based company continues to report solid growth in recurring revenues.
ProntoForms, which develops apps to help companies collect and analyze field data, announced Thursday that it brought in revenues of $3.84 million for the three-months ending Sept. 30 – an increase of 21 per cent year-over-year. Recurring revenue, which stood at $3.5 million, was the firm’s biggest growth segment in the period, up 26 per cent year-over-year and up six per cent quarter-to-quarter. (All figures in U.S. dollars unless otherwise stated.)
ProntoForms said in a release that its growth can be attributed to new deployments with Fortune 500 customers. One such enterprise client added $390,000 in annual recurring revenue this past quarter, bringing its ARR contributions to more than $1 million.
(Sponsored)
How The Ottawa Hospital uses AI tools to boost health outcomes and streamline clinical efficiency
Dr. Douglas Manuel says it all began with the Ottawa Ankle Rules algorithm, a set of clinical guidelines developed in the early 1990s by The Ottawa Hospital’s Dr. Ian Stiell
Local businesses face hiring obstacles due to immigration pullback, flawed screening
In his 39 years of practicing immigration law, Warren Creates (a rare Law Society Certified Specialist) has never seen an environment so challenging for employers looking to hire workers from
Net loss for ProntoForms’ third quarter was $420,000, down from $640,000 a year ago.
The local company also recently struck a deal to receive C$750,000 in funding from the federal government’s Industrial Research Assistance Program.
