ProntoForms sees higher revenues, lower net loss

OBJ Staff
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First-quarter revenue at Ottawa’s ProntoForms Corporation was up compared with last year, the company announced Thursday, but the firm saw a slight decline from the previous quarter.

(Stock image)

ProntoForms (TSX-V:PFM), which markets mobile data collection software, reported revenue of $1,360,730 during the three-month period that ended on March 31. That’s up from $893,013 during the same period last year, but down from $1,365,851 during the previous quarter.

However, the company’s share of recurring revenue from its software-as-a-service products was up, increasing from $986,342 during the fourth quarter of 2013 to $1,069,923. It’s also up from $735,838 during the first quarter of 2013.

The increased year-over-year revenue shrunk the company’s net loss from $356,453 last year to $176,645.

"The focus of our business is building a global recurring revenue base and we are pleased with our continued growth in this area. Our recurring revenue was up 8 per cent over the previous quarter and 45 per cent over the first quarter in 2013,” Alvaro Pombo, the company’s CEO, said in a release.

“We continue to see strong interest in professional and other services, particularly from our device vendor and operator partners. We are encouraged by our prospects for growth and we are increasing our investment in customer revenue acquisition and new partner sales opportunities."

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