ABC News' Michael Falcone and Devin Dwyer report:

For the first time this year, Mitt Romney's campaign has bested President Obama's re-election effort in a one-month fundraising period, outraising the Democrats by more than $16 million in May.

The Romney campaign, along with the Republican National Committee and a joint fundraising committee set up between the two entities called Romney Victory, raised $76.8 million last month, the campaign announced on Thursday. The campaign and the RNC also reported ending the month with $107 million cash on hand.

That massive haul tops what the Obama campaign and the Democratic National Committee raised in May by more than $16 million, according to their figures announced Thursday morning.

"It is clear that people aren't willing to buy into 'hope & change' again," Romney's national finance chairman, Spencer Zwick,  said in a statement. "Voters are making an investment because they believe that it will benefit the country."

Romney and the RNC formed a joint fundraising committee in early April, but May was the first full month that the Republicans and Democrats went head-to-head on fundraising with Romney as the presumptive Republican nominee. GOP officials said last month's totals offer an "apples to apples" comparison - which they won.

"Our strong fundraising is a sign that Americans are tired of President Obama's broken promises and want a change of direction in the White House," RNC Chairman Reince Priebus said in a statement.

The Romney campaign noted that 93 percent of all donations received were $250 or less, for a total of $12 million. The campaign took in contributions from all 50 states.

But the Obama campaign and the DNC still raised more in May - $60 million - than they did in either of the last two months. Their May total is an improvement from $43.6 million they raised in April and $53 million reported in March. (The figures include funds raised by Obama for America, the DNC and two joint accounts.)

"We knew this day would come," Obama campaign spokesman Ben LaBolt told reporters on a conference call. "The RNC and Romney campaign just established their joint committee which means all the primary donors who had written the maximum contribution during the primary can now go back and make that same contribution for the general election. We anticipated that they would beat us this month."

"That should serve as a clarion call to our supporters and our donors to give now and give again," he added.

The Obama campaign declined on Thursday to release its cash-on-hand figure. The campaign and the DNC ended the month of April with $143 million in the bank.

Romney's resurgent fundraising comes even as President Obama continues to crisscross the country to collect cash at an unprecedented pace.

In the first week of June alone, Obama has spent four days fundraising at 14 events in four states. On Friday, Obama set a personal record for the most fundraisers crammed into one day with 6 in Minneapolis and Chicago. He raised more than $16 million for the Obama Victory Fund.

Compared with his four most recent predecessors, Obama is shattering records for time spent on the money trail.  He's held 156 fundraisers for his own re-election committee and the DNC during his first term, according to data compiled by ABC News and US Naval Academy political scientists Brendan Doherty. And there are more to come.

Romney has been no slouch on the fundraising circuit either, plowing through Texas this week and collecting more than $15 million over the course of two days.

This post has been updated.