05:41 PM EDT, 09/04/2024 (MT Newswires) -- D2L (DTOL.TO) a learning technology company, on Wednesday said its second-quarter loss narrowed as revenue rose.

The distance-learning company said it lost US$0.3 million, or $nil per share, in the quarter ended July 31, narrowing from US$4.8 million or US$0.09,, last year. The esults included US$1.2 million in non-recurring expenses and transaction-related costs. These expenses are net of a gain of US$0.9 million on the disposal of D2L's majority ownership stake in SkillsWave.

Revenue increased 11% to US$49.2 million.

D2L also updated its 2025 revenue guidance, increasing it slightly to $199 million to $202 million, from $197 million to $201 million.

D2L closed up $0.50 to $13 on the Toronto Stock Exchange.