12:02 PM EDT, 04/26/2024 (MT Newswires) -- RenoWorks Software ( ROWKF ) on Friday said its net loss for the quarter ended December 31 narrowed as revenue rose.

The company reported a loss of C$0.2 million, or C$0.01 per share, an improvement over the loss of C$0.75 million, or C$0.01, in the year-prior quarter.

Revenue rose to C$1.5 million from C$1.2 million. RenoWorks said recurring revenue increased 31% to C$0.62 million.

"Our financial results are a direct outcome of our focused investments in AI-driven solutions, partner integrations, Renoworks Pro through key partnerships, and resource management," said Doug Vickerson, CEO. "These initiatives are helping to drive the adoption of our platform and brand awareness across the industry."

RenoWorks, which sells digital visualization software for the remodeling and new home construction industry, was last seen unchanged at $0.20 on the TSX Venture Exchange.