Ottawa-based ProntoForms increased its revenue during the most recent fiscal year, helping to shrink the company’s net loss from 2012.
But it wasn’t enough to make the mobile data collection software company profitable.
The company reported revenue of almost $4.3 million for the fiscal year, which ended on Dec. 31. That’s up 75 per cent from the $2.5 million it recorded during the previous time period.
OBJ360 (Sponsored)
Contractor or employee? Ensure the role fits the classification, or risk liability
In these times of economic unpredictability, some business owners are seeking greater workforce flexibility by turning to different kinds of work arrangements. These might include using contractors instead of hiring
REDBLACKS linebacker loves playing in home city, but might love giving back more
As a linebacker for the Ottawa REDBLACKS, Ottawa native James Peter says he’s “extremely grateful” to be one of the rare CFL players with the opportunity to play high school,
The increase helped drop the company’s net loss from just under $2 million to $361,288. Also contributing to the lower net loss was one-time income of $875,000, which it brought in from the sale of patents in August.
The company also cut its losses from operations. That figure fell to $859,882 from $1.9 million in 2012.
ProntoForms credited that to the increase in revenue “combined with only an 18 per cent increase in operating expenses.”
For the fourth quarter of its fiscal year, ProntoForms reported revenue of $1.4 million. That’s up 18.9 per cent from the $1.15 million recorded during the previous quarter and up 93.9 per cent from the $704,504 it had during the same period last year.
The company’s net loss for the three-month period that ended Dec. 31 was $303,112. That’s compared with a net loss of $237,208 during the third quarter and a net loss of $378,051 during the same period last year.
