Lotto24 AG said its third-quarter normalized net income amounted to a loss of €196,880, compared with a loss of €2.2 million in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to negative 3.1% from negative 56.2% in the year-earlier period.

Total revenue increased 64.4% on an annual basis to €6.4 million from €3.9 million, and total operating expenses declined 9.4% year over year to €6.6 million from €7.3 million.

Reported net income came to €64,000, or 0 cents per share, compared to a loss of €3.2 million, or a loss of 13 cents per share, in the year-earlier period.