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illumin Holdings Inc. (TSX: ILLM) reported its first quarter 2024 financial results, with total revenue of $25.0 million. Self-service revenue saw a substantial 282% growth year-over-year, driven by new customer relationships and increased platform utilization. The company onboarded 23 net new self-serve clients during the quarter. Gross margin remained steady at 47%, with adjusted EBITDA improving to $0.01 million from a loss of $0.8 million in Q1 2023. Net loss decreased to $1.1 million from $3.6 million in the previous year, attributed to lower operating costs and a favorable foreign exchange gain due to a strengthened US dollar. illumin initiated a new Normal Course Issuer Bid to purchase and cancel common shares, reflecting a commitment to returning value to shareholders.
