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.
OBJ360 (Sponsored)

Don’t get left behind: Keep pace with the job market by AI upskilling at uOttawa
uOttawa’s Paula Branco was a math teacher in Portugal for more than a decade before deciding to boost her career by going back to school. “I’m one of those people

Why your next investment should be Canadian art
Ahead of its highly anticipated Give to Get Art Auction on May 29th, the Ottawa Art Gallery (OAG) offers some expert advice on investing in art. Art can inspire, spark
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.