ProntoForms’ Q1 revenue jumps 21% as demand ‘surges’ for software platform amid COVID-19

Alvaro Pombo
ProntoForms CEO Alvaro Pombo. File photo

Ottawa’s ProntoForms says it expects interest in its software platform to rise as more of its target customers seek to find efficiencies in their field operations in the aftermath of the COVID-19 pandemic.

The Kanata-based company, which develops platforms for field workers to build their own apps and manage their workflows and was named one of Techopia’s tech firms to watch in 2020, said Thursday that its first-quarter revenues grew 21 per cent year-over-year to $4.2 million. The firm also trimmed its quarterly loss to $170,000, an improvement on its $780,000 loss during the same period a year earlier.

ProntoForms said the pandemic is causing “challenges” for some of its customers in certain industries, but added it’s seeing a “surge in demand” from other sectors that are facing greater complexities and more stringent operational requirements during the COVID-19 crisis.

“We believe the current business climate will accelerate digital transformation in the field as many organizations are facing a greater sense of urgency to improve their operations and customer interactions while also monitoring and ensuring technician health and safety,” ProntoForms CEO Alvaro Pombo said in a statement.

The company said it secured several new enterprise customers – which it declined to name – in the first quarter, including two medical equipment manufacturers, an engineering services company and a solar energy provider that will use ProntoForms to perform onsite inspections, maintenance reports and quality assurance audits.

ProntoForms’ stock price was unchanged at 75 cents per share on the TSX Venture Exchange Thursday.