(Alliance News) - Datrix Spa reported Friday that it closed the first half of the year with revenues substantially in line with those of the same period last year, at EUR7.0 million from EUR7.1 million.

Revenues were driven mainly by organic growth in the Data Monetization lines of 73 percent and Machine Learning Model Serving for Industrial of 59 percent as well as the contribution of the EUR100,000 acquisition of Aramis.

Consistent with the new definition of the offering underway in Martech, which is characterized by a focus on a higher value-added product and solution offering, the first-half numbers were impacted by the decision to completely eliminate the part of revenues characterized by a low margin, in particular, in relation to an incumbent customer.

Ebitda was negative EUR800,000 from the previous year's negative figure of EUR900,000, with margin on revenues negative 12 percent from the negative 13 percent figure a year earlier.

Net loss widened to EUR2.5 million from EUR1.6 million in liabilities last year.

Available cash was EUR3.5 million as of June 30 from EUR5.3 at the end of 2022. In line with the plan, the company invested EUR1.5 million in R&D for the development of its products. Datrix points out that while maintaining a high level of investment, cash absorption in the first half of the year was down 15 percent compared to the same period last year.

Datrix's stock is up 0.5 percent at EUR2.00 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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