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Cxense ASA Q1 loss widens 44.5% YOY

Cxense ASA said its normalized net income for the first quarter amounted to a loss of 27 cents per share, compared with a loss of 31 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 $1.7 million, compared with a loss of $1.2 million in the prior-year period.

The normalized profit margin declined to negative 30.4% from negative 29.9% in the year-earlier period.

Total revenue increased 61.4% on an annual basis to $6.3 million from $3.9 million, and total operating expenses climbed 51.0% from the prior-year period to $8.7 million from $5.8 million.

Reported net income came to a loss of $3.1 million, or a loss of 50 cents per share, compared to a loss of $1.9 million, or a loss of 50 cents per share, in the prior-year period.