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Engagement Labs Q1 loss narrows YOY

Engagement Labs Inc. said its first-quarter normalized net income amounted to a loss of 2 Canadian cents per share, compared with a loss of 4 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of C$1.1 million, compared with a loss of C$1.2 million in the year-earlier period.

The normalized profit margin climbed to negative 79.3% from negative 149.9% in the year-earlier period.

Total revenue climbed 66.6% on an annual basis to C$1.3 million from C$800,340, and total operating expenses climbed 11.3% year over year to C$3.0 million from C$2.7 million.

Reported net income came to a loss of C$1.7 million, or a loss of 3 cents per share, compared to a loss of C$2.1 million, or a loss of 7 cents per share, in the prior-year period.