(Alliance News) - CrowdFundMe Spa reported Monday that it closed 2023 with a loss of EUR941,384, which compares with a loss of EUR399,297 in the previous year. This result was affected by EUR680,000 in depreciation and amortization and an increase in expenses in technological innovations, the company explained in a note.

Production value amounted to EUR1.8 million from EUR1.2 million in the previous year, thus increasing by 10 percent.

Ebitda is negative EUR276,575 from negative EUR121,212 in 2022.

Ebit is also negative, by EUR963,369 worsening from EUR398,547 in the previous year.

Net cash position positive EUR81,852 from EUR434,788 as of Dec. 31, 2022.

The company also released its performance for the first quarter of 2024 with data updated as of March 25, reporting revenues of EUR506,000 and projection at EUR530,000 as of March 31, compared to EUR340,000 in the same period of 2023. Group fundraising is EUR9.5 million versus EUR7.7 million in 2023, and group campaigns launched are 32, versus 26 in the same period in 2023.

CrowdFundMe closed at a par at EUR2.06 per share.

By Chiara Bruschi, Alliance News reporter

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