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AcuityAds Q1 loss narrows YOY

AcuityAds Holdings Inc. said its first-quarter normalized net income was a loss of 1 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 4 cents per share.

The per-share loss decreased 68.7% year over year from 4 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of C$339,520, compared with a loss of C$898,750 in the prior-year period.

The normalized profit margin climbed to negative 6.5% from negative 29.5% in the year-earlier period.

Total revenue increased 70.6% year over year to C$5.2 million from C$3.0 million, and total operating expenses rose 37.6% year over year to C$5.7 million from C$4.2 million.

Reported net income totaled a loss of C$549,820, or a loss of 2 cents per share, compared to a loss of C$1.4 million, or a loss of 7 cents per share, in the prior-year period.