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Model N fiscal Q2 loss widens YOY

Model N Inc. said its normalized net income for the fiscal second quarter ended March 31 was a loss of 20 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 25 cents per share.

The per-share loss increased year over year from 10 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $5.6 million, compared with a loss of $2.6 million in the prior-year period.

The normalized profit margin fell to negative 21.3% from negative 11.5% in the year-earlier period.

Total revenue grew 14.9% on an annual basis to $26.1 million from $22.7 million, and total operating expenses climbed 30.7% year over year to $35.0 million from $26.8 million.

Reported net income totaled a loss of $8.9 million, or a loss of 33 cents per share, compared to a loss of $4.6 million, or a loss of 18 cents per share, in the year-earlier period.