10:11 AM EDT, 05/15/2024 (MT Newswires) -- Else Nutrition Holdings ( BABYF ) was at last look down more than 8% on Wednesday after it reported a first-quarter net loss of $5.5 million, or $0.04 per share, narrower than a loss of $7.9 million, or $0.07 per share, a year earlier.

The decrease in the net loss was mainly because of a reduction in the operation expenses and the Cost of Goods Sold expenses, the company said.

Revenue for the quarter ended March 31 was $2.1 million, down 27% from $2.9 million a year earlier. The decrease was primarily due to delays in shipments of products to retailers. The company said Amazon sales increased by about 92% and 330% over the same quarter last year in the US and Canada, respectively.

Among other highlights, operating expenses for Q1 2024 decreased 15% to $4.2 million compared to $4.9 million in Q1 2023. EBITDA loss for Q1 was $4.1 million versus a loss of $4.5 million a year earlier.

The company's shares were down more than 10% on last look Wednesday in Canada.

Price: 0.26, Change: -0.04, Percent Change: -13.33