Fresh off being named one of Ottawa’s fastest-growing companies for 2016 by OBJ, it looks as if ProntoForms is showing no signs of slowing down.
The mobile data collection and analytics platform provider Thursday reported a 53 per cent year-over-year increase in first-quarter revenue.
“This is further evidence of the success of increased investments in sales operations, and support of our existing routes to market,” CEO Alvaro Pombo said in a statement. “We continue to focus on growth in our core business and we are building new paths for our leading mobile forms platform to become an industry standard.”
(Sponsored)
OCOBIA eyes Ottawa BIA expansion as it gears up for election year
Michelle Groulx says it’s not difficult to spot the Ottawa neighbourhoods with their own business improvement area (BIA). That’s because, she says, BIAs are a visual and experiential representation of
Iconic spaces, lasting impressions
The Canadian Museum of History and the Canadian War Museum offer more than beautiful spaces; they provide meaningful settings celebrating heritage, culture and design. An architectural landmark overlooking Parliament Hill
ProntoForms (TSX VENTURE: PFM) posted first-quarter revenue of $2.9 million, up from $1.9 million for the same quarter last year.
At $2.6 million, the company’s recurring revenue was up 56 per cent from the same quarter last year and up four per cent from the fourth quarter of 2015.
The firm’s gross margin for the first quarter was 81 per cent of total revenue, while gross margin on recurring revenue was 89 per cent.
ProntoForms posted a first-quarter operating loss of $898,878, an increase from the losses posted in the previous quarter and the same quarter last year, with the company attributing that to its “conscious approach to invest more in operational and sales productivity.”
The company’s net loss in the first quarter was $1.1 million, up from $636,349 in the same quarter last year.
As of March 31, ProntoForms had $3.3 million in cash.
