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Moovly Media Q1 loss widens YOY

Moovly Media Inc. said its first-quarter normalized net income was €240,500, compared with a loss of €118,590 in the prior-year period.

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

The normalized profit margin declined to negative 150.6% from negative 140.2% in the year-earlier period.

Total revenue grew 88.8% year over year to €159,670 from €84,570, and total operating expenses rose 65.3% year over year to €451,600 from €273,250.

Reported net income came to a loss of €384,810, compared with a loss of €189,750 in the prior-year period.