Shares of 1-Page Ltd (ASX: 1PG) have continued to decline today after the tech-hopeful released its preliminary results for fiscal year 2015 yesterday. The shares are down 3.2% since the results were released, and down almost 79% since peaking at $5.69 in September.

In short, 1-Page is a company that provides cloud-based human resources from a Software-as-a-Service (SaaS) platform, which it believes can save its customers time and costs when hiring and promoting talent. It has the potential to revolutionise the industry, but investors appear to be getting unnerved by the slow progress being made by the business thus far – at least when it comes to financial results.

In its preliminary results announcement yesterday, the group highlighted an increase in new bookings from $178,800 in FY14 to $4.2 million in FY15, while revenue also grew 221% from the prior corresponding period.

The trouble is, that was off a very low base, with revenue for the latest full-year at just $412,600 (meanwhile, receipts from customers, which reflects actual cash received, was $309,200). Those figures compare to an operating loss of $14.3 million in FY15 and a loss of $11.3 million in FY14.

Indeed, the company does have $48.8 million in cash and cash equivalents on its balance sheet as at the end of January – mostly thanks to a capital raising late last year. That will help the company to fund its planned cash burn of (USD) $2 million per month – half of which will be on sales and marketing – but investors are at the point where they need to see solid progress being made before they can regain their confidence.

There is certainly potential for 1-Page to grow significantly from here. However, it is also a risky proposition, especially considering how young the business is (and its lack of earnings results thus far). While it could be worth a look for long-term Fools with a higher risk tolerance, others may prefer to look at the more established players in the field, including the likes of SEEK Limited (ASX: SEK).

Of course, there are plenty of other great technology businesses outside of the human resources industry you can also buy. Our top analysts have recently selected their TOP stock idea for 2016, and with share prices falling, it could be the BEST time to buy! This relatively unknown technology share is growing rapidly and offers a fat, fully franked dividend!

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Motley Fool contributor Ryan Newman owns shares of 1-Page Ltd. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.