11:35 AM EST, 02/26/2025 (MT Newswires) -- Avante (XX.V) was up 10% on last look after the company on Wednesday reported a modest third-quarter loss even as revenue surged 21%, helped by acquisitions that gave the company confidence to maintain a "positive" outlook for Fiscal 2025.

For its third fiscal quarter ended Dec. 31, Avante recorded a net loss of $155,000. The company incurred an impairment expense of $383,000 for software expenses relating to an ERP system and is seeking reimbursement from the vendor and has also referred the matter to legal counsel.

Within continuing operations, Avante reported revenue increased 21% to $8.4 million. The increase was due to the acquisition of NSSG, Avante Black growth and organic growth of its domestic business.

Management is maintaining a "positive" outlook for fiscal 2025.

The company's shares were last seen up $0.12 to $1.19 on the TSX Venture Exchange.

Price: 1.19, Change: +0.13, Percent Change: +12.26