Bitdeer Technologies Group (BTDR) reported a Q1 loss Thursday of $0.37 per diluted share, swinging from a profit of $0.01 a year earlier.

Two analysts polled by FactSet expected a loss of $0.32.

Revenue for the quarter ended March 31 was $70.1 million compared with $119.5 million a year earlier.

Analysts surveyed by FactSet expected $67.7 million.

Shares of the company fell 3.5% in recent premarket activity.