05:02 PM EDT, 05/14/2024 (MT Newswires) -- Healwell AI (AIDX.TO) on Tuesday said its first-quarter loss narrowed on higher revenue.

The company said it lost $6 million, or $0.06 per share, in the period, compared with a loss of $6.8 million, or $0.13, in the year-prior quarter.

Revenue more than doubled over the same period, from $2 million, to $4.6 million.

Healwell said that since its relaunch in Q4-2023 and its acquisition of Intrahealth, an enterprise class EHR service provider on February 1, annual revenue run rate has more than doubled to over $20 million with the largest component of revenues now coming from SaaS and services.

The company's shares closed up $0.08 to $1.50 on the Toronto Stock Exchange.