A Global Top 20 Oil & Gas Enterprise Expands ProntoForms Deployment with Five-Year $2.5M Agreement

ProntoForms is the key technology enabling the customer to standardize asset service to achieve production objectives, all the while meeting regulatory commitments

OTTAWA, ON – December 12th, 2022 – ProntoForms Corporation (TSXV: PFM), the global leader in enterprise mobile forms, announced today that a global top 20 oil & gas enterprise expanded their deployment of ProntoForms to support their asset compliance, EHS, work standardization, and leak inspection workflows.

“The energy industry is under tremendous pressure to safely ramp production to meet a growing global demand. This expansion from approximately $200K to $500K of annualized recurring revenue (“ARR”), broadens their ProntoForms deployment into multiple new production use cases. ProntoForms workflow data from the field enables the organization to respond to challenges and rapidly deploy process updates to ensure they’re meeting their production goals. This expansion is a powerful example of the agility and scalability of our platform to meet business objectives,” said Alvaro Pombo, Founder and Chief Executive Officer of ProntoForms.

Mr. Pombo continued, “ProntoForms provided the scalability, agility in deploying use cases, and management capabilities needed for the customer requirement to manage production assets. Additionally, single sign-on; seamless integrations with Microsoft SharePointTM, ERP, and EHS systems; and the ability for non-technical staff to build and deploy forms were also key features that influenced the decision to expand.”

About ProntoForms Corporation

ProntoForms is the global leader in enterprise mobile forms. ProntoForms’ platform empowers organizations with field teams that perform complex work to rapidly deploy tailored mobile forms that intuitively guide field engineers to the most effective path to service completion. The platform offers the greatest depth and breadth of mobile forms integrations, enabling organizations to leverage data insights to drive quantifiable impacts in field productivity, operations, manufacturing, production, CSAT, and compliance.

The Company is based in Ottawa, Canada, and trades on the TSXV under the symbol PFM. ProntoForms is the registered trademark of ProntoForms Inc., a wholly owned subsidiary of ProntoForms Corporation.

Contact Information

Alvaro Pombo
co-Chief Executive Officer
TrueContext Corporation
613.599.8288 ext. 1111
[email protected]

Philip Deck
co-Chief Executive Officer
TrueContext Corporation
416.702.3974
[email protected]

Dave Croucher
Chief Financial Officer
TrueContext Corporation
613.286.9212
[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 revenues anticipated to be received by the Company from recent contracts referred to above 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, revenue anticipated from contracts may not be received due to many risks, including factors specific to the customer, 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 9, 2022 found at www.sedar.com for a discussion of such factors. ARR is calculated as the annual equivalent of the recurring elements of our contracts with customers that are in effect at the end of the period. It excludes one-time professional service fees and assumes that customers will renew the contractual commitments on a periodic basis as those commitments come up for renewal, unless such renewal is known to be unlikely at period end. Please also refer to the Company’s management discussion and analysis for the year ended December 31, 2022 for a description of how the Company determines and uses ARR. 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.