Edtech company Edyoutec reported a significant decline in revenue and a swing to negative EBITDA in the first quarter compared to the same period last year.

Net sales amounted to 0.04 million (4.8).

Operating profit was -1.6 million (-2.9), while EBITDA came in at -0.9 million (0.3). Profit after financial items improved to -0.9 million (-6.1).

Earnings per share amounted to -0.01 (-0.10). Cash flow during the quarter was -0.2 million (-0.2).

CEO Eric de Basso highlights that the company is now in a phase of commercial readiness, with the technical integration with Skiply completed.

'The platform is ready, the partnership is established, and our assessment is that Skiply can act quickly when market conditions allow', says the Edyoutec CEO.

Furthermore, it is stated that work continues to reduce the cost base and streamline operations toward proprietary products and recurring SaaS revenue. The company has also decided to gradually wind down its German subsidiaries to focus resources on international SaaS expansion.