With growth, Quisitive is starting to think about looking for M&A targets. “We are actively working to engage with acquisition in targets,” Mike Rheinhart, CEO of the Toronto, Ont.-based company. said during this week’s earnings webcast. He noted there has been little M&A activity in the last few months. The company lost $5.8 million for the quarter, compared to  loss of $1.8 million for last year’s correspond period. The loss stemmed from a quarterly revaluation of option value of the convertible loan that was part of the payment for Menlo. That led to a non-cash charge of $5.3 million with the value of the derivative loss at slightly less than $8.5 million for the half. Quisitive saw a mild impact from the effects of the COVID-19 outbreak.” Wesaw strong utilization and bookings in the quarter,” Rheinhart said, although he noted there was some offset on what he termed a “one-time license impact.” The virtual halt to travel has led to some expense savings, which he said was not material to results. With working parents at home and children not in school, there was a higher rate of utilization. Because of the utilization level, Quisitive will need to continue hiring to produce growth. In addition, the company received a Paycheck Protection Program loan of  $2.9 million in the United States. The Dynamics reseller is also working with Microsoft for the develop of what Reinhart called “advanced Azure capabilities.”