PFM ProntoForms Corporation

ProntoForms(R) Corporation (TSX VENTURE:PFM) ("ProntoForms" or "the Company"), a
mobile data solutions company, today announced results for its first quarter
ended March 31, 2014. All amounts are stated in Canadian dollars unless
otherwise noted.


Alvaro Pombo, Chief Executive Officer, ProntoForms, said, "The focus of our
business is building a global recurring revenue base and we are pleased with our
continued growth in this area. Our recurring revenue was up 8% over the previous
quarter and 45% over the first quarter in 2013. At the same time, our
professional and other services revenue can fluctuate from quarter to quarter
and this caused a slight decrease in total revenue in our first quarter. We
continue to see strong interest in professional and other services, particularly
from our device vendor and operator partners. We are encouraged by our prospects
for growth and we are increasing our investment in customer revenue acquisition
and new partner sales opportunities."


Operating Results for the Three Months Ended March 31, 2014 

Total revenue for the first quarter of 2014 of $1,360,730 represented an
increase of approximately 52.4% over the comparable 2013 first quarter and a
slight decrease of 0.4% from the fourth quarter of 2013. 


Revenue details are as follows:



                                                             Change from    
                                                        --------------------
                             Three months ended          Previous Comparable
                    -----------------------------------                     
                    -----------------------------------                     
                                    December                                
                       March 31,         31,  March 31,   2013 Q4    2013 Q1
                            2014        2013       2013                     
Recurring revenue                                                           
Subscription revenue $ 1,069,923 $   986,342 $  735,838      8.5%      45.4%
Maintenance               19,412      19,412     17,397      0.0%      11.6%
                    -----------------------------------                     
                       1,089,335   1,005,754    753,235      8.3%      44.6%
                    -----------------------------------                     
Professional and                                                            
 other services          271,395     360,097    139,778    -24.6%      94.2%
                    -----------------------------------                     
Total revenue        $ 1,360,730 $ 1,365,851 $  893,013     -0.4%      52.4%
                    -----------------------------------                     
                                                                            
Other revenue                                                               
 details                                                                    
Operator channel                                                            
 subscription                                                               
 revenue             $   678,486 $   632,732 $  491,253      7.2%      38.1%



Recurring revenue of $1,089,335 grew by 8.3% from the fourth quarter of 2013 and
by 44.6% from the comparable first quarter of 2013. Within recurring revenue,
subscription revenue grew 8.5% from the fourth quarter of 2013 and by 45.4% from
the comparable first quarter of 2013. Subscription revenue from operator
channels increased 7.2% over the 2013 fourth quarter and by 38% over the
comparable 2013 first quarter. 


Professional and other services revenue of $271,395 grew by 94.2% from the
comparable first quarter of 2013 but decreased by 24.6% from the fourth quarter
of 2013. The professional and other services revenue earned in 2013 was much
higher towards the end of the year. 


The 2014 first quarter professional and other services revenue included
approximately $235,000 from large contracts with major operators and mobile
device vendors while the Q42013 professional and other services revenue included
$280,000 and the Q12013 professional and other services revenue included
approximately $128,000 from this same group. Revenue from these larger contracts
is recognized as the services are performed and is subject to variability due to
the availability of contracts from customers and resources to perform the work. 


Loss from operations was reduced to $124,056 for the three months ended March
31, 2014 from $334,227 for the three months ended March 31, 2013 representing an
improvement of $210,171 or 63%. The decreased operating loss in the first
quarter of 2014 compared to 2013 relates primarily to the achievement of a 52%
increase in revenue with only a 21% increase in operating expenses. 


The Company had a net loss of $176,645 for the three months ended March 31, 2014
compared to a net loss of $356,453 for the three months ended March 31, 2013
representing a decrease of approximately 50%.


As at March 31, 2014, the Company had cash and cash equivalents of $1,611,149
and net working capital of $1,623,474. 


About ProntoForms(R) and ProntoForms Corporation 

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 portal
to manage teams and data flow, and provides the ability to export or connect
data to the back office, popular cloud services or other data destinations.
ProntoForms is the Frost & Sullivan winner of the North American Customer Value
Leadership Award for Mobile Forms.


ProntoForms Corporation, has a powerful and proprietary patent portfolio, from
which the ProntoForms mobile App and Web reporting portal have been developed.
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. www.prontoforms.com


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
the TSXV nor its Regulation Services Provider (as that term is defined in the
policies of the TSXV) 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, 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 March 12, 2014 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.


The pro forma revenue adjustment table and related pro-forma revenue information
contained in this press release represent a non-GAAP presentation of financial
information. Please refer to the section entitled "Non-GAAP and Additional GAAP
Measures" in ProntoForms' Summary Financial Information and Management's
Discussion and Analysis of Results of Operations and Financial Condition for the
first quarter of 2014 for more information about the purpose of using this
non-GAAP financial measure and its limitations.


FOR FURTHER INFORMATION PLEASE CONTACT: 
ProntoForms Corporation
Alvaro Pombo
Chief Executive Officer
613.599.8288 ext. 1111
apombo@truecontext.com

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