Ottawa-based ProntoForms’ revenues jump 30% in Q3


ProntoForms (TSX-V:PFM) trimmed its losses while growing revenues in the third quarter of 2018.

The Ottawa-based firm, which develops a mobile workflow and analytics platform, reported revenues of $3.1 million for the three-month period ending Sept. 30, an increase of 30 per cent from last year. Most of that comes from recurring revenue, which accounted for $2.7 million of income and grew 24 per cent year-over-year and six per cent month-over-month.

ProntoForms cut its losses this past quarter as well, reporting a net loss of $642,066 compared with more than $1 million in the third quarter of 2017.

OBJ360 (Sponsored)

CEO Alvaro Pombo gave a straightforward explanation for the improved results in a statement: The firm is reducing its losses through an efficient model of growth; operating losses are coming down as the firm brings in new sales while reducing churn.

Following its earnings report, ProntoForms saw a decent bump in share price on Thursday. Shares were trading at 37 cents at market close on the TSX Venture exchange, an increase of almost three cents on the day.

Get our email updates

Get up-to-date news about the companies, people and issues that impact businesses in Ottawa and beyond.

By signing up you agree to our Terms of Use and Privacy Policy. You may unsubscribe at any time.