ProntoForms Corporation Announces Q2 2015 Results
Achieves 56% Year over Year Growth in Recurring Revenues
OTTAWA, Canada - August 28, 2015 - ProntoForms Corporation (“ProntoForms” or the “Company”) (TSXV: PFM), a leading provider of mobile data collection and analytics platforms for enterprises, and small to medium sized businesses, today announced the second quarter (Q2) financial results for the three and six-month period ended June 30, 2015.
“We are pleased to announce that our continuing focus on increasing recurring revenue has resulted in year over year growth of 56%,” said Alvaro Pombo, CEO of ProntoForms.
“Our direct and channel sales strategy has gained positive traction with strong predictable growth and we continue to invest to expand our market share via these routes and acquire new customers in the mid-tier to enterprise space,” continued Mr. Pombo. “As previously profiled, we have increased investment in sales and marketing to expand our footprint into new markets. We have already secured access to these markets with our SMB solution available in 2,200 retail stores of America’s largest telecommunications company, plus we have received further validation of our strategic investment working with Apple. ProntoForms was recently featured in a Wall Street Journal article as one of a handful of business solution developers selected by Apple.”
- During the quarter, ProntoForms began developing a go-to-market strategy with Apple to target Apple’s enterprise clients.
- Subsequent to the quarter:
- The Company earned the Frost & Sullivan North American Mobile Forms Competitive Strategy Innovation and Leadership Award.
- The Company's technology was integrated with Google for Work.
- ProntoForms announced the selection of its platform by a leading utilities provider to improve quality of service and operational compliance.
The Company agreed to extend a loan in the amount of $37,500 to its Chief Executive Officer, Alvaro Pombo, the proceeds of which will be used by Mr. Pombo to fund the costs of exercising previously granted ProntoForms options. The loan has a one year term and is secured by a pledge of ProntoForms common shares held by Mr. Pombo.
ProntoForms is a mobile workflow platform used by more than 3,500 businesses to collect and analyze field data with smartphones and tablets. Our product delivers an intuitive, secure and scalable solution for mobilizing business processes, with a very low total cost of ownership. Our customers harness the solution to increase productivity and reduce cost, improve quality of service and mitigate risks.
ProntoForms is the winner of the 2015 Frost & Sullivan Competitive Strategy Innovation and Leadership Award for the Mobile Forms Industry.
The company trades on the TSXV under the symbol PFM. ProntoForms is the registered trademark of ProntoForms Inc., a wholly owned subsidiary of ProntoForms Corporation.
Certain information in this press release may constitute forward-looking information. For example, statements about the Company's future growth or value are forward-looking information. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to the Company.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Chief Executive Officer
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