07:56 AM EDT, 05/28/2025 (MT Newswires) -- Sabio ( SABOF ) , a Los Angeles-based adtech company, late on Tuesday said its first-quarter loss widened even as it booked double-digit revenue growth.

The loss grew to US$2.3 million for the three months ended March 31, compared with US$2.0 million a year-ago.

Revenue increased to US$9.1 million compared with US$6.4 million a year earlier, driven by strong advertiser demand, broader client adoption, expansion into new geographies and product offerings introduced in 2024.

The company added that it is currently on track to surpass its record-setting 2024 sales performance.

"With an expanded Sales Force and improved IT infrastructure in place, Sabio ( SABOF ) expects double-digit consolidated revenue gains to continue into Q2 2025," said the company in a statement.

Shares of the company closed up 8% to $0.57 on Tuesday on the TSX Venture Exchange.