Renoworks Software (TSE:RW) has released an update.
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Renoworks Software Inc. reports a 6% increase in annual revenue to $6.29 million for 2023, along with a significant decrease in net loss from $1.32 million in 2022 to $497,771, attributed to a 20% increase in licensing and hosting revenue and improved operational efficiencies. The company also saw a 31% increase in recurring revenue during the fourth quarter, with strong gross margins maintained year over year.
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