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Elumeo swings to profit in Q1

Elumeo SE said its first-quarter normalized net income amounted to 6 euro cents per share, compared with a loss of 9 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 €235,630, compared with a loss of €373,750 in the prior-year period.

The normalized profit margin climbed to 1.2% from negative 2.4% in the year-earlier period.

Total revenue grew 26.9% year over year to €19.5 million from €15.4 million, and total operating expenses rose 19.6% on an annual basis to €19.1 million from €15.9 million.

Reported net income came to a loss of €658,000, or a loss of 16 cents per share, compared to income of €657,000, or 16 cents per share, in the prior-year period.