04:35 PM EDT, 05/06/2025 (MT Newswires) -- Thinkific Labs ( THNCF ) , whose shares dropped 37%% in regular trade Tuesday, after trade said it swung to a modest profit in the first quarter as revenue met the high end of its guidance range.

The company, which operates a cloud-based software platform, said it earned US$0.4 million, or $0.01 per share, in the period, compared to a year-prior loss of $1.1 million, or $0.01. The result beat a FactSet forecast of $0.00.

Revenue increased 12% year over year to $17.8 million, compared to the guided range of $17.5- $17.8 million. FactSet forecast $17.7 million.

In its outlook for the second quarter, the company expects revenue of $17.7-$18.0 million which represents 9% to 11% growth compared to the second quarter of 2024. FactSet forecasts $17.9 million.

The company said it plans to continue growth-focused investments in line with revenue growth and expects its Adjusted EBITDA margin to be consistent with prior quarters.

Thinkific ( THNCF ) shares closed down $1.63 to $2.72 on the Toronto Stock Exchange.