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IMINT Image Intelligence Q1 loss widens YOY

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IMINT Image Intelligence Q1 loss widens YOY

IMINT Image Intelligence AB (publ.) said its first-quarter normalized net income amounted to a loss of 21 Swedish öre per share, compared with a loss of 19 öre per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 1.6 million kronor, compared with a loss of 733,750 kronor in the prior-year period.

The normalized profit margin fell to negative 79.4% from negative 54.2% in the year-earlier period.

Total revenue climbed 51.7% on an annual basis to 2.1 million kronor from 1.4 million kronor, and total operating expenses rose 88.3% year over year to 4.7 million kronor from 2.5 million kronor.

Reported net income came to a loss of 2.6 million kronor, or a loss of 33 öre per share, compared to a loss of 1.2 million kronor, or a loss of 31 öre per share, in the year-earlier period.

As of May 27, US$1 was equivalent to 8.34 Swedish kronor.