Achieves Q4 72% Recurring Revenue Growth
OTTAWA, ON--(Marketwired - March 10, 2016) - ProntoForms Corporation (TSX VENTURE: PFM), a leading provider of mobile data collection and analytics platforms for enterprises, and small to medium sized businesses, today announced its annual and fourth quarter (Q4) financial results for periods ended December 31, 2015.
"We are pleased to report 46% growth in total revenue and 64% growth in recurring revenue for the 2015 year, including 72% recurring revenue growth in the fourth quarter over the 2014 comparable fourth quarter," said Alvaro Pombo, CEO of ProntoForms. "Our 2015 growth was evidence of the success of increased investments in sales and support for our channel partners. We continue to focus on growth in our core business and we are building new paths to market with complementary solutions."
Financial Highlights -- 2015 Year
Financial Highlights -- 2015 Fourth Quarter
Operational Highlights
Option Grant
Options to purchase up to 708,000 common shares of the Company were approved for grant by the Board of Directors, including 575,000 to certain directors and officers. The options were approved for grant to be effective as of March 15, 2016 pursuant to the terms of the Company's stock option plan and are exercisable for a period of five years from the effective date at an exercise price to the closing price of the common shares on March 14, 2016. Stock option grants are subject to necessary regulatory approvals.
About ProntoForms Corporation
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.
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 9, 2016 found at www.sedar.com for a discussion of such factors.
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]
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