08:40 AM EDT, 05/09/2025 (MT Newswires) -- illumin Holdings (ILLM.TO), an advertising technology platform, on Friday said its first-quarter net loss widened on higher operating costs.

The advertising technology platform said the net loss widened to $1.9 million, or $0.04 per share, from $1.1 million, or $0.02 per share, in the prior-year period. The increase was due to higher sales and marketing costs

Revenue rose 17% to $29.1 million. Exchange service revenue jumped 148% to $12 million, resulting from increased demand from new customers, an enhanced supplier network, and platform improvements, the company said.

"Our first quarter revenue rose 17% even after a slower start to the period than we anticipated," said Chief Executive Simon Cairns. "We responded by adjusting our marketing tests week to week and made several advances in our selling process and sales team, which enabled us to exit the quarter with solid growth, led by a 148% rise in our Exchange service revenue and supported by solid performance in Self-service."