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May 30, 2023

Licensing help Renoworks revenues

Renoworks Software Inc., a lead generation technology for the home renovation and new construction sector, had revenues of $1.4 million in the first quarter of 2023, an increase of 3% compared to revenues of $1.3 million in the first quarter of 2022. Growth was primarily driven by a 44% increase in libraries (products) revenue and a 12% increase in hosting and licensing revenues. Gross margin for the quarter was 73% compared to gross margin of 63% in the year-ago period. The company had a net loss of $384,653 compared to a net loss of $332,546 in the same period in 2022.

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