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Elumeo Q3 loss narrows YOY

Elumeo SE said its normalized net income for the third quarter amounted to a loss of 24 euro cents per share, compared with a loss of 39 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 €1.3 million, compared with a loss of €2.1 million in the year-earlier period.

The normalized profit margin climbed to negative 10.0% from negative 14.4% in the year-earlier period.

Total revenue grew 25.7% year over year to €18.5 million from €14.7 million, and total operating expenses increased 13.4% from the prior-year period to €20.4 million from €18.0 million.

Reported net income came to a loss of €2.9 million, or a loss of 52 cents per share, compared to a loss of €3.4 million, or a loss of 61 cents per share, in the prior-year period.