On Form: ProntoForms Sees Revenue Increase 8% in Q2 Amid Accelerated Marketing Campaign

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ProntoForms said its increased marketing efforts paid off in the second quarter, with the Ottawa-based software company’s revenue up 8% year-over-year.

The company, which trades on the TSX Venture Exchange, reported total revenue of $5.21 million for the three-month period ending June 30, up from $4.84 million a year. earlier.

ProntoForms, which derives most of its revenue from monthly subscription fees to its platform, said its recurring revenue rose 9% in the second quarter to $4.97 million from $4.55 million. at the same time in 2021.

The company reported a net loss of $1.34 million, down from $1.12 million a year earlier. ProntoForms said the increase was primarily due to its decision to invest more money in sales and marketing.

ProntoForms’ platform helps customers develop custom mobile apps that enable field workers to perform complex tasks safely and more efficiently. The company said it continues to target enterprise customers in four key verticals: medical equipment, heavy manufacturing, utilities, and oil and gas.

While revenue grew year-over-year, CEO Alvaro Pombo said second-quarter results “did not reflect the volume we expected.” He said the company’s efforts to bolster its marketing staff will bear more fruit as 2022 progresses.

“We are seeing more new and expansion business and are confident that we have a capable enterprise go-to-market structure that scales as our enterprise vendors grow,” Pombo said in a statement. .

Shares of ProntoForm rose one cent to 54 cents by mid-afternoon Thursday on the TSX Venture Exchange. Year-to-date, the company’s shares have fallen 31 cents, or nearly 37%.

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