Summary by Moomoo AI
XBP Europe Holdings, a pan-European integrator of bills, payments, and related solutions, reported a decrease in net revenue for the first quarter of 2024. The company's net revenue declined by 5.7% to $40.4 million compared to $42.8 million in the same period last year. The Bills & Payments segment experienced a 14.0% drop in revenue, while the Technology segment saw a 24.3% increase. The company's net loss improved slightly, with a reported net loss of $2.2 million in Q1 2024 compared to a net loss of $2.5 million in Q1 2023. The cost of revenue decreased by 8.8%, and selling, general, and administrative expenses also saw a reduction. XBP Europe Holdings continues to focus on digital transformation, offering a suite of products centered around finance and accounting solutions, as well as...Show More