(Alliance News) - Cube Labs Spa reported that it closed its first financial statements as a listed company with a portfolio value of investments of EUR52.3 million during the year ended Dec. 31, 2022.

Revenues amounted to EUR1.0 million from EUR1.1 million in the same period last year.

Loss amounted to EUR73,000 from a profit of EUR215,000 as of December 31, 2021.

Ebitda was EUR54,000 from EUR411,000 in the previous year.

Net debt as of December 31 was EUR3.3 million compared to EUR1.8 million as of December 31, 2021 and compared to EUR2.5 million as of June 30, 2022.

Filippo Surace, founder and CEO of Cube Labs, commented, "The recent entry on the Stock Exchange will allow us to implement the business plan and support the growth strategy, also at the international level, in a rapidly evolving sector in Italy and worldwide such as Life Science. The value of our portfolio of holdings testifies to the great potential that is recognized in our venture builder model, which is focused on the selection of high R&D start-ups, their development through managerial and operational support and their valorization in the medium to long term."

By Claudia Cavaliere, Alliance News reporter

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