May 25 (SeeNews) - Romanian affiliate marketing company 2Performant [BSE:2P] said on Thursday that its net loss deepened by 44% year-on-year in the first three months of 2023, to 1.47 million lei ($318,720/296,980 euro) .
During January-March, the company achieved a turnover of 10.4 million lei, higher by 25% on the year, 2Performant said in a filing to the Bucharest Stock Exchange.
The company's earnings before interest, tax, depreciation, and amortisation (EBITDA) fell by an annual 24% to a negative 1 million lei during the first quarter. Expenses rose 30% year-on-year to 13.1 million lei during January-March.
The company's total assets decreased by 3% when compared to the end of 2022, mainly due to a 46% drop in receivables, to 13.1 million lei.
2Performant is a technology company established in 2010, which develops and manages its affiliate marketing platform. The company has been listed on the AeRO market of the Bucharest Stock Exchange since December 2020. Its shares traded 0.55% lower at 1.8 lei as of 1416 CET on Thursday on the Bucharest bourse.
(1 euro=4.95131 lei)