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NEXT Group Holdings Q1 loss widens YOY

Cuentas Inc. said its first-quarter normalized net income was a loss of $462,050, compared with a loss of $29,690 in the year-earlier period.

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

Total revenue declined 46.2% on an annual basis to $82,300 from $153,050, and total operating expenses rose on an annual basis to $533,390 from $200,540.

Reported net income totaled a loss of $754,180, or a loss of 0 cents per share, compared to a loss of $47,500, or a loss of 0 cents per share, in the prior-year period.