Kubient Inc: Slumps on bigger Q2 loss as COVID-19 hits business

Kubient

24/09/2020 13:17

** Shares of cloud-based software platform for digital
advertising  KBNT.O  drop ~22% to $3.05 premarket
    ** Company reports a bigger loss of 42 cents in Q2, compared
to 32 cents a year earlier  urn:newsml:reuters.com:*:nPn8Vhn54a
    ** Operating expenses jumped 16% to $1.2 mln, primarily due
to higher technology expenses 
    ** KBNT's operations were impacted by COVID-19 in Q2 as
several customers and prospects temporarily decreased their
advertising budgets - CEO Peter Bordes
    ** Company's shares have fallen ~22% since it went public in
August

 (Reporting by C Nivedita in Bengaluru)
 ((C.Nivedita@thomsonreuters.com;))