PointClickCare files for IPO

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Cloud-based software company PointClickCare has filed a registration statement with the U.S. Securities and Exchange Commission for an initial public offering. It hopes to raise up to $100 million.

In its filing, the company says its total revenue increased from $82.1 million in fiscal year 2013 to $102.2 million in fiscal year 2014, representing a 24% year-over-year increase. Also, revenues increased from $48.2 million in the six months ended April 30, 2014, to $58.7 million in the six months ended April 30, 2015, representing a 22% period-over-period increase.

"Our subscription and support revenue increased from $70.5 million in fiscal 2013 to $90.6 million in fiscal 2014, representing a 29% year-over-year increase, and increased from $41.7 million in the six months ended April 30, 2014 to $54.6 million in the six months ended April 30, 2015, representing a 31% period-over-period increase," the company wrote. "Subscription and support revenue represented 86%, 89% and 93% of total revenue in fiscal 2013, fiscal 2014 and the six months ended April 30, 2015, respectively. We had a net loss of $3.3 million in fiscal 2013 and a net loss of $11.0 million in fiscal 2014. Our net loss for the six months ended April 30, 2014 was $5.3 million and we generated net income of $0.3 million in the six months ended April 30, 2015."

PointClickCare plans to list its common shares on NASDAQ under the ticker symbol PCLK.

The company, based in Mississauga, Ontario, also filed a preliminary prospectus with the securities regulatory authorities in each of the provinces of Canada except Québec. On the Toronto Stock Exchange, it will list its common shares under the ticker symbol PCC.

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