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Lotto24 Q3 loss narrows YOY

Lotto24 AG said its normalized net income for the third quarter came to a loss of 9 euro cents per share, compared with a loss of 13 cents 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 €2.2 million, compared with a loss of €2.6 million in the year-earlier period.

The normalized profit margin increased to negative 56.2% from negative 133.8% in the year-earlier period.

Total revenue grew year over year to €3.9 million from €1.9 million, and total operating expenses increased 18.9% from the prior-year period to €7.3 million from €6.1 million.

Reported net income came to a loss of €3.2 million, or a loss of 13 cents per share, compared to a loss of €4.2 million, or a loss of 21 cents per share, in the prior-year period.