06:47 AM EDT, 06/21/2024 (MT Newswires) -- Martello Technologies Group ( DRKOF ) , a software maker, late on Thursday reported a wider net loss in the fiscal fourth quarter as sales dropped 5%.

The company reported a fiscal fourth-quarter net loss of $1.7 million, compared with a loss of $1.3 million a year earlier.

Sales for the quarter ended March 31 were $3.8 million, down from $4 million a year ago.

The adjusted Ebitda loss for fiscal Q4 was $791,000, wider than a loss of $549,000 a year earlier.

Martello ( DRKOF ) said Nicolae Lungu has been appointed interim chief financial officer, effective June 21. Lungu has led Martello's ( DRKOF ) accounting team since 2018 as director of corporate accounting.