illumin Reports First Quarter 2025 Financial Results

Core Insights - illumin Holdings Inc. reported a 17% year-over-year increase in revenue for Q1 2025, reaching $29.1 million, driven primarily by a 148$1.9 million, attributed to increased operating costs and a lower net foreign exchange gain [4][6] Financial Performance - Total revenue for Q1 2025 was $29.1 million, up from$24.95 million in Q1 2024 [4][17] - Exchange service revenue increased to $12.0 million, a 148$8.7 million from $11.8 million [4][17] - Self-service revenue was$8.4 million, representing 29% of total revenue, showing slight year-over-year growth [4][17] Operational Highlights - Gross margin for Q1 2025 was 45%, down from 47% in the same period last year, reflecting a shift towards lower-margin services [4][17] - Adjusted EBITDA loss was $0.4 million, compared to a break-even result in Q1 2024, due to higher sales and marketing expenses [4][6] - The company maintained a strong cash position with cash and cash equivalents at$54.0 million as of March 31, 2025 [4][17] Strategic Initiatives - The company is focusing on a customer-centric portfolio platform approach, allowing clients to select their support options [3][4] - Continued investments in the Self-service platform and Exchange service are being balanced with liquidity and cost management efforts [3][4] - The company has initiated a normal course issuer bid (NCIB) to repurchase up to 3,914,167 common shares, representing approximately 10% of its public float [4]