TrueContext Mobile Solutions Corporation Announces Q1 2013 Results
30 5월 2013 - 9:30PM
Marketwired Canada
TrueContext Mobile Solutions Corporation (TSX VENTURE:TMN) -
Highlights:
-- Q1'13 recurring subscription revenue growth of 105% over Q1'12
-- Five consecutive quarters of net loss reduction
-- Liquidity strengthened through sale of non-core patents for net proceeds
of US$570,000
TrueContext Mobile Solutions Corporation ("TrueContext" or "the Company"), a
mobile data solutions company today announced results for its three months ended
March 31, 2013. All amounts are stated in Canadian dollars unless otherwise
noted.
Operating Results for the Three Months Ended March 31, 2013
Three months ended
-----------------------------
December Increase Increase
March 31, 31, March 31, over over
2013 2012 2012 Q4'12 Q1'12
Total revenue $ 893,013 $ 704,504 $ 558,437 26.8% 59.9%
Subscription revenue $ 735,838 $ 585,490 $ 359,090 25.7% 104.9%
Operator subscription
revenue $ 491,253 $ 367,413 $ 218,630 33.7% 124.7%
Total revenue for the first quarter of 2013 represented a sequential increase of
approximately 27% over the 2012 fourth quarter and 60% growth over the
comparable first quarter of 2012.
-- Subscription revenue for the three months ended March 31, 2013 grew
sequentially by 26% and by 105% from the comparable 2012 first quarter,
while subscription revenue from operator channels increased sequentially
by 34% and by 125% from the comparable 2012 first quarter. Subscription
revenue growth for the first quarter of 2013 was unusually high as the
Company realized approximately $90,000 related to subscription usage
that occurred in prior periods for which agreement was received from a
large reseller in the first quarter of 2013.
-- Services revenue was $157,175 for the 2013 first quarter compared to
$119,014 in the fourth quarter of 2012 and $199,347 for the comparable
first quarter of 2012.
The Company's Q1 2013 net loss was $356,453 compared to the Q4 2012 net loss of
$378,051 and the comparable Q1 2012 net loss of $585,975.
As at March 31, 2013, the Company had cash and cash equivalents of $615,792 and
net working capital of $195,606. Subsequent to March 31, 2013, the Company
received the remaining BDC loan tranche of $250,000 and approximately US$570,000
of net proceeds from the sale of certain non-core patents.
"We are pleased that our 2013 first quarter results continue the trend towards
profitability by balancing spending with strong subscriber and revenue growth.
Throughout 2012 and now into 2013, we established a steady trend; subscriber and
revenue base growth, particularly through our operator partners, while at the
same time reducing our net loss. In addition, the proceeds from our recent sale
of non-core patents provide us with the liquidity to continue our plan and
enhance our opportunities for growth," said Alvaro Pombo, Chief Executive
Officer, TrueContext.
Mr. Pombo added: "TrueContext's foundation is based on innovation. After the
successful sale of two of our non-core patent families, we have nine families in
various stages of completion. ProntoForms(R) continues to be a leading product
in the marketplace and our relationships with top carriers and device vendors
demonstrate the strategic value of the application within the carrier ecosystem.
The ProntoForms product is deployed with more than 2,500 companies and we have
been able to track product adoption and use trends to adjust our strategy to
maximize the appeal of our product features for SMB and Enterprise businesses.
This broad customer and industry appeal, and ease of deployment helps operators
improve sales of related voice and data plans, as well as smartphones and
tablets, while reducing customer churn."
About ProntoForms(R) and TrueContext
ProntoForms is a mobile workflow solution used by over 2,500 business customers
to collect, receive and submit data in the field. Available for smartphones and
tablets, the ProntoForms solution incorporates a mobile device App, a Web
management portal to manage teams and data flow, and provides the ability to
export or connect data to the back office or to popular cloud services.
TrueContext, traded on the TSXV under the symbol TMN, has a powerful and
proprietary patent portfolio, from which the ProntoForms mobile App and Web
reporting portal have been developed. ProntoForms is the registered trademark of
TrueContext Corporation, a wholly-owned subsidiary of TrueContext.
Certain information in this press release may constitute 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.
There are a number of risk factors that could cause future results to differ
materially from those described herein, including but not limited to the
following: (i) there can be no assurance that the Company will earn any profits
in the future or that profitability, if achieved, will be sustained; (ii) if the
Company is not able to achieve profitability, it will require additional equity
or debt financing, and there can be no assurances that the Company will be able
to obtain additional financial resources on favourable commercial terms or at
all; (iii) the Company's quarterly revenues and operating results may fluctuate,
which may harm its results of operations; (iv) the loss of business from a major
customer, operator or other reseller could reduce the Company's sales and harm
its business and prospects; (v) a portion of the Company's sales are through
operators and other resellers, and an adverse change in the Company's
relationship with any of such operators or other resellers may result in
decreased sales; (vi) the market for software as a service is at a relatively
early stage of development, and if it does not develop or develops more slowly
than expected, the Company's business will be harmed; (vii) the Company faces
competition from other software solution providers, which may reduce its market
share or limit the prices it can charge for its software solutions; (viii) a
global economic downturn or market volatility may adversely affect our business
and/or our ability to complete new financings; (ix) the business of the Company
may be harmed if it does not continue to penetrate markets; (x) the success of
the business depends on the Company's ability to develop new products and
enhance its existing products;
(xi) the Company's growth depends in part on the success of its strategic
relationships with third parties; (xii) the financial condition of third parties
may adversely affect the Company; (xiii) the US dollar may fluctuate
significantly compared to the Canadian dollar, causing reduced revenue and cash
flow as most of our revenues are received in US dollars while most of our
expenses are payable in Canadian dollars; (xiv) subscription services which
produce the majority of the Company's revenue are hosted by a third party
service for the Company and any interruption in service could harm its results
of operations; (xv) the Company may be liable to its customers or third parties
if it is unable to collect data or it otherwise loses data; (xvi) the Company
may be liable for the handling of personal information; (xvii) intellectual
property claims against the Company may be time consuming, costly to defend, and
disruptive to the business; (xviii) the Company uses open source software in
connection with its products which exposes it to uncertainty and potential
liability; (xix) economic uncertainty and downturns in the software market may
lead to decreases in the Company's revenue and margins; (xx) any significant
changes in the technological paradigm utilized for building or delivering
applications in Smartphone devices could harm the Company's business and
prospects; and (xxi) if the Company loses any of its key personnel, its
operations and business may suffer. Please see "Risk Factors Affecting Future
Results" in the Company's annual management discussion and analysis dated April
2, 2013 found at www.sedar.com for a more complete discussion of these and other
risks. Readers are cautioned not to place undue reliance on forward-looking
statements. We undertake no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise,
except as required by applicable law.
FOR FURTHER INFORMATION PLEASE CONTACT:
TrueContext Mobile Solutions Corporation
Alvaro Pombo
Chief Executive Officer
613.599.8288 ext. 1111
apombo@truecontext.com
Prontoforms Corporation (TSXV:TMN)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024
Prontoforms Corporation (TSXV:TMN)
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부터 6월(6) 2023 으로 6월(6) 2024
