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Digitalist Q1 loss widens 34.7% YOY

Digitalist Group PLC said its normalized net income for the first quarter was a loss of €1.8 million, compared with a loss of €1.3 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 dropped to negative 45.1% from negative 28.5% in the year-earlier period.

Total revenue decreased 14.9% on an annual basis to €3.9 million from €4.6 million, and total operating expenses decreased 6.4% year over year to €6.1 million from €6.6 million.

Reported net income totaled a loss of €2.8 million, or a loss of 1 cents per share, compared to a loss of €2.1 million, or a loss of 1 cents per share, in the year-earlier period.