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Innofactor profit misses consensus by 67.7% in Q1

Innofactor PLC said its first-quarter normalized net income was €106,880, a decline of 34.2% from €162,500 in the prior-year period.

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

The normalized profit margin dropped to 0.7% from 1.5% in the year-earlier period.

Total revenue climbed 30.5% year over year to €14.6 million from €11.2 million, and total operating expenses rose 32.1% year over year to €14.3 million from €10.8 million.

Reported net income fell 34.4% from the prior-year period to €137,000, or 0 cents per share, from €209,000, or 1 cents per share.