Renoworks Growth Margins Remain Strong

Renoworks Software Inc., a provider of visualization and lead generation technology for the home renovation and new construction sector, had revenue of $1.2 million for the three months ended December 31, 2022, versus $1.3 million for the quarter ended the previous December. Gross margins continue to be strong at 62 per cent for the quarter. It saw growth in design services and enterprise sales, which grew by 11 per cent and 13 per cent, respectively. Furthermore, its Pro solution is re-establishing itself as a tool for contractors and remodelers and has evolved to meet the needs of its customers and the market. Initial results and feedback on its new features has been strong.