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One Horizon Q1 loss widens 36.5% YOY

Touchpoint Group Holdings Inc. said its first-quarter normalized net income amounted to a loss of 14 cents per share, compared with a loss of 10 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 $793,130, compared with a loss of $581,250 in the year-earlier period.

The normalized profit margin declined to negative 130.2% from negative 78.0% in the year-earlier period.

Total revenue fell 18.3% on an annual basis to $609,000 from $745,000, and total operating expenses rose from the prior-year period to $1.7 million from $1.7 million.

Reported net income totaled a loss of $1.4 million, or a loss of 24 cents per share, compared to a loss of $998,430, or a loss of 18 cents per share, in the year-earlier period.