Intouch Insight (TSX-V:INX) says investments made in its products in 2018 will set the stage for revenue growth in the coming years.
The Ottawa-based firm, which develops software to help clients track customer satisfaction and engagement, reported revenues of $14.9 million for the fiscal year ending Dec. 31 – up seven per cent from 2017.
The company posted a net loss of $2.7 million for 2018, nearly $2 million more than its loss the previous year. The company said in a release that development on new product lines, and associated expenses with selling those new products, pushed the firm deeper into the red.
OBJ360 (Sponsored)
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World Junior Championships set to boost Ottawa’s economy and global reputation
The World Junior Championships will kick off in Ottawa in December, bringing tens of millions of dollars of economic activity to the city, as well as a chance for local
CEO Cameron Watt said in a statement Thursday that thanks to the higher spending in 2018, the firm is expected to grow revenues 15 per cent to $17 million in the coming fiscal year. While he made no promise of turning a profit, Watt did say he expects the firm to be EBITDA positive in 2019.
Watt told OBJ last year that the company was ready to market a new product that uses artificial intelligence to discover “gaps” in the customer journey. He said then that the firm was targeting a market need that no other competitor in the space was addressing.