ProntoForms Corp reports 28.2% revenue growth in FY2016
09.03.2017 • About ProntoForms Corp (
$PFM) • By InTwits
ProntoForms Corp reported FY2016 financial results today. Overall the company's long term financial model is characterised by the following facts:
- EBITDA Margin is relatively stable: in FY2016 vs. -27.8% in FY2015 vs. -77.2% in FY2012
- ProntoForms Corp spends a lot for Stock Based Compensation (SBC): average SBC/Revenue for FY2012-FY2016 is 0.0%. Average EBITDA Margin for the same period was -19.0%0
- It operates with high leverage: Net Debt/EBITDA is -1.5x while industry average is -4.9x
Below you can find a comprehensive analysis of the key data driving the company's performance and stock price.
ProntoForms Corp ($PFM) key annual financial indicators
| mln. CAD | 2012 | 2013 | 2014 | 2015 | 2016 | 2016/2015 |
|---|
P&L
|
|---|
| Revenue | 2.488 | 4.363 | 6.277 | 9.192 | 11.788 | 28.2% |
| Gross Profit | 2.392 | 4.279 | 6.151 | 7.302 | | -100.0% |
| SG&A | 2.692 | 3.146 | 4.752 | 7.111 | | -100.0% |
| EBITDA | -1.921 | -0.829 | -1.162 | -2.560 | | |
| Net Income | -1.981 | -0.361 | -1.350 | -2.609 | -3.722 | |
Balance Sheet
|
|---|
| Cash | 0.630 | 0.896 | 2.306 | 3.987 | | -100.0% |
| Short Term Debt | 0.000 | 0.000 | 0.000 | 0.000 | | |
| Long Term Debt | 0.254 | 0.583 | 0.668 | 0.764 | | -100.0% |
Cash flow
|
|---|
| Capex | 0.027 | 0.036 | 0.223 | 0.176 | | -100.0% |
Ratios
|
|---|
| Revenue growth | 59.9% | 75.4% | 43.9% | 46.4% | 28.2% | |
| EBITDA growth | -29.7% | -56.8% | 40.0% | 120.4% | | |
| Gross Margin | 96.1% | 98.1% | 98.0% | 79.4% | | -79.4% |
| EBITDA Margin | -77.2% | -19.0% | -18.5% | -27.8% | 0.0% | 27.8% |
| Net Income Margin | -79.6% | -8.3% | -21.5% | -28.4% | -31.6% | -3.2% |
| SG&A, % of revenue | 108.2% | 72.1% | 75.7% | 77.4% | | -77.4% |
| CAPEX, % of revenue | 1.1% | 0.8% | 3.6% | 1.9% | | -1.9% |
| ROIC | -1,223.6% | -751.1% | -94.4% | -86.9% | | 86.9% |
| ROE | | | | -113.5% | | 113.5% |
ProntoForms Corp ($PFM) key quoterly financial indicators
| mln. CAD | FY16Q1 | FY16Q2 | FY16Q3 | FY16Q4 | YoY change |
|---|
P&L
|
|---|
| Revenue | 3 | 3 | 3 | 3 | 52.9% | 34.0% | 25.4% | 9.6% |
| EBITDA | -1 | -1 | -1 | -1 | | | | |
| Net Income | -1 | -1 | -1 | -1 | | | | |
Balance Sheet
|
|---|
| Cash | 3 | 3 | 4 | 4 | 42.4% | 58.6% | -10.4% | -3.2% |
| Short Term Debt | 0 | 0 | 0 | 1 | | | | |
| Long Term Debt | 1 | 1 | 2 | 2 | 14.5% | 14.5% | 234.6% | 115.8% |
Ratios
|
|---|
| Gross Margin | 81.4% | 81.7% | 82.1% | 82.6% | 1.7% | 4.4% | -15.2% | 3.4% |
| EBITDA Margin | -29.0% | -26.9% | -22.0% | -28.3% | 8.7% | -1.2% | 2.4% | -2.5% |
| Net Income Margin | -39.5% | -30.0% | -23.7% | -33.4% | -5.4% | 3.0% | -0.5% | -8.0% |
Revenue and profitability
ProntoForms Corp's Revenue surged on 28.2%. Revenue growth showed slow down in FY16Q4 - it was 9.6% YoY.
Net Income marign decreased on 3.2 pp from -28.4% to -31.6% in FY2016.
Appendix 1: Peers in Technology
Below you can find ProntoForms Corp benchmarking vs. other companies in Technology industry. It's shown for the period of 5 years for the key financial metrics. Each table has median value for all the companies in the industry together with individual financial data of the top-5 companies in the industry by particular financial metric.
Top companies by Revenue growth, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Intrinsyc Technologies Corp ($ITC) | | -21.7% | 70.8% | 24.5% | 39.2% |
| Kinaxis Inc ($KXS) | | 30.3% | 15.2% | 30.3% | 27.0% |
| NexJ Systems Inc ($NXJ) | | 4.3% | -12.6% | 19.7% | 17.3% |
| Constellation Software Inc/Canada ($CSU) | | 35.9% | 37.9% | 10.1% | 15.6% |
| Espial Group Inc ($ESP) | | -5.5% | 59.4% | 24.2% | 15.3% |
| |
|---|
| Median (11 companies) | | -1.0% | 11.5% | 10.1% | 10.0% |
|---|
| ProntoForms Corp ($PFM) | | 75.4% | 43.9% | 46.4% | 28.2% |
Top companies by Gross margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Constellation Software Inc/Canada ($CSU) | 86.2% | 85.5% | 86.1% | 86.2% | 87.1% |
| Espial Group Inc ($ESP) | 77.5% | 81.7% | 78.5% | 74.3% | 74.7% |
| Halogen Software Inc ($HGN) | 72.0% | 74.8% | 71.8% | 73.8% | 76.2% |
| Kinaxis Inc ($KXS) | 71.8% | 70.4% | 70.4% | 71.8% | 69.1% |
| Symbility Solutions Inc ($SY) | 80.6% | 79.9% | 81.0% | 70.7% | |
| |
|---|
| Median (11 companies) | 62.8% | 46.3% | 53.5% | 53.0% | 71.9% |
|---|
| ProntoForms Corp ($PFM) | 96.1% | 98.1% | 98.0% | 79.4% | |
Top companies by EBITDA margin, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Wi-LAN Inc ($WIN) | 40.9% | 12.2% | 56.2% | 53.2% | 57.8% |
| Kinaxis Inc ($KXS) | 18.7% | 23.0% | 19.2% | 28.0% | 17.6% |
| Constellation Software Inc/Canada ($CSU) | 20.9% | 20.1% | 21.8% | 25.2% | 26.0% |
| Intrinsyc Technologies Corp ($ITC) | -10.5% | -38.8% | 2.2% | 10.8% | |
| Mitel Networks Corp ($MNW) | 10.2% | 10.0% | 7.0% | 7.7% | |
| |
|---|
| Median (13 companies) | 8.5% | 5.5% | 4.5% | 2.1% | 7.1% |
|---|
| ProntoForms Corp ($PFM) | -77.2% | -19.0% | -18.5% | -27.8% | |
Top companies by CAPEX/Revenue, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Kinaxis Inc ($KXS) | 2.9% | 2.3% | 5.0% | 4.7% | 5.0% |
| Halogen Software Inc ($HGN) | 4.9% | 9.0% | 8.4% | 2.9% | 2.6% |
| Espial Group Inc ($ESP) | 1.6% | 0.2% | 1.9% | 2.1% | 1.5% |
| Critical Control Energy Services Corp ($CCZ) | | 0.5% | 1.0% | 1.6% | |
| Data Group Ltd ($DGI) | 0.6% | 0.7% | 1.0% | 1.4% | 1.0% |
| |
|---|
| Median (13 companies) | 1.2% | 1.2% | 1.2% | 1.1% | 1.0% |
|---|
| ProntoForms Corp ($PFM) | 1.1% | 0.8% | 3.6% | 1.9% | |
Top companies by ROIC, %
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Constellation Software Inc/Canada ($CSU) | 45.9% | 22.4% | 24.7% | 38.5% | 40.5% |
| Kinaxis Inc ($KXS) | | 61.8% | 63.6% | 44.0% | 22.6% |
| Halogen Software Inc ($HGN) | | -28.4% | -45.9% | -40.5% | 12.6% |
| Wi-LAN Inc ($WIN) | 2.6% | -7.6% | 8.9% | 7.4% | 8.4% |
| NexJ Systems Inc ($NXJ) | | -44.6% | -19.8% | -13.9% | 4.5% |
| |
|---|
| Median (13 companies) | -2.4% | -12.5% | 0.9% | 0.1% | 8.4% |
|---|
| ProntoForms Corp ($PFM) | -1,223.6% | -751.1% | -94.4% | -86.9% | |
Top companies by Net Debt / EBITDA
| Top 5 | FY2012 | FY2013 | FY2014 | FY2015 | FY2016 |
|---|
| Mitel Networks Corp ($MNW) | 3.7x | 3.8x | 2.6x | 6.2x | |
| Pivot Technology Solutions Inc ($PTG) | | -0.4x | 1.1x | 4.8x | |
| Constellation Software Inc/Canada ($CSU) | 0.0x | 1.6x | 0.6x | 0.4x | -0.0x |
| Wi-LAN Inc ($WIN) | -4.9x | -12.1x | -2.3x | -1.7x | -2.0x |
| Kinaxis Inc ($KXS) | 1.9x | 4.7x | -4.2x | -3.9x | -6.3x |
| |
|---|
| Median (7 companies) | 0.9x | 1.5x | -0.8x | -1.7x | -6.3x |
|---|
