(Alliance News) - Cube Labs Spa reported Friday that it closed the first half of the year with revenues of EUR752,000, up from EUR533,000 in the same period last year.

In contrast, the value of the investment portfolio is EUR52.3 million.

Ebitda is negative EUR211,000 from the positive figure of EUR75,000 in the year before, due to lower operating profitability as a result of increased service costs related to the IPO and the strengthening of the company's organizational structure.

Net loss of EUR321,000 compares with net income of EUR4,000 a year earlier.

Debt declines to EUR1.3 million from EUR3.3 million as of Dec. 31, 2022, and adjusted debt drops to EUR1.6 million from EUR3.6 million.

Cube Labs' stock closed Friday unchanged at EUR2.11 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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