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SharpSpring Q1 loss narrows YOY

SharpSpring Inc. said its first-quarter normalized net income amounted to a loss of 7 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 7 cents per share.

The per-share loss narrowed 52.9% year over year from 15 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $497,460, compared with a loss of $795,290 in the prior-year period.

The normalized profit margin increased to negative 33.8% from negative 41.3% in the year-earlier period.

Total revenue climbed on an annual basis to $4.2 million from $1.9 million, and total operating expenses rose 60.8% year over year to $5.1 million from $3.1 million.

Reported net income came to a loss of $725,250, or a loss of 10 cents per share, compared to a loss of $1.4 million, or a loss of 26 cents per share, in the year-earlier period.