For the first quarter 2013 Onvia reported revenues of US$ 5.5 million which were flat compared to Q1 2012. Its client base shrunk 10% from 4300 in 2012 to 3850 in Q1. Annual contract value was up 2% to 18.9 million. The company reported a net loss of US$ 120,000 in Q1 compared to a net income of US$ 60,000 in Q1 2012.
The company has embarked on new initiatives to strengthen its client base and to improve the value of its database. In Q1 2013 it launched Onvia 6 with a workflow user interface as a step to improve the usability of its solutions. During 2013 Onvia will introduce vendor intelligence for competitor and partner analytics, improve the workflow of our lead generation service and expand the agency intelligence.
Onvia, Inc. (NASDAQ: ONVI) is a provider of comprehensive government-business market intelligence.
Source: Onvia Press Release