Achieves 10% Annual Growth in Recurring Revenue and Fourth Quarter Growth of 7% over Q3 2017
OTTAWA, March 19, 2018 (GLOBE NEWSWIRE) -- ProntoForms Corporation (TSXV:PFM), the global leader in smart mobile forms for enterprise, today announced its annual and fourth quarter (Q4) financial results for the periods ended December 31, 2017.
“We finished 2017 on a high note with 7% sequential growth in Q4 recurring revenue and the addition of Fortune 50 customer contracts totalling over $1 Million in committed value,” said Alvaro Pombo, CEO of ProntoForms. “In 2017 we proved that our platform is built for the enterprise, with the scalability, security and cloud integrations that major global enterprises require. The changes we have made to our direct sales teams are allowing us to sign new enterprise customers and to achieve significant expansion from existing customers. In addition, our growing roster of channel partners is bringing us to opportunities where enterprise grade cloud-based mobile workflows are needed.
Mr. Pombo continued, "Our Rapid Mobile Application Development (RMAD) solution has been deployed successfully for a range of business processes in enterprise, including safety automation; enterprise asset management; and field service management, either as a standalone solution or as a mobile extension of existing solutions. The no-code platform, increasingly recognized by leading industry analysts, allows easy adoption by non-technical line-of-business owners in enterprise, scales with IT requirements, and co-exists very well with solutions provided by our expanding partner ecosystem.”
Financial Highlights – 2017 Year
Financial Highlights – 2017 Fourth Quarter
Recent Operational Highlights
About ProntoForms Corporation
ProntoForms is a leading provider of smart mobile forms for enterprise. The Company's platform is used to collect and analyze field data with smartphones and tablets, and offers a low total cost of ownership. The Company’s 3,000+ customers harness the intuitive, secure and scalable solution to increase productivity, improve quality of service, and mitigate risks.
ProntoForms has received a number of prominent industry awards, including the 2016 Deloitte Technology Fast 50, the 2016 CIX Public Top 20, the Ottawa Chamber of Commerce 2016 Employees' Choice Award and 2016 Best Ottawa Business Award, and 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.
For additional information, please contact:
Alvaro Pombo Chief Executive Officer ProntoForms Corporation 613.599.8288 ext. 1111 [email protected] | Babak Pedram Investor Relations Virtus Advisory Group Inc. 416-644-5081 [email protected] |
Certain information in this press release may constitute forward-looking information. For example, statements about the Company’s future growth or value, the lead flow the Company may receive from its partnering strategy and anticipated market trends 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’s business and value may not grow as anticipated or at all, its partnering strategy may not generate increasing lead flow or maintain current lead flow levels and anticipated market trends may not occur or continue. Historical growth levels and results may not be indicative of future growth levels or results. 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. There are a number of risk factors that could cause future results to differ materially from those described herein. Please see “Risk Factors Affecting Future Results” in the Company’s annual management discussion and analysis dated March 16, 2018 found at www.sedar.com for a discussion of such factors.
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.
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