We expect to emphasize these themes throughout 2024, as we remain focused on driving revenue growth and profitability, innovating our product offering, and delivering exceptional value to our stakeholders.” The following table presents a reconciliation of net loss to Adjusted EBITDA for the periods ended: (Unaudited, in thousands of Canadian dollars) Three months ended March 31, March 31, 2024 2023 Net loss for the period $(1,138) $(3,562)Adjustments: Finance income, net (506) (717)Foreign exchange loss (gain) (1,386) 54 Depreciation and amortization 1,365 1,491 Income tax expense 378 70 Share-based compensation 699 1,342 Severance expenses 90 43 Nasdaq-related costs1 423 513 Other expenses 89 - Total adjustments 1,152 2,796 Adjusted EBITDA $14 $(766) (1) Nasdaq-related costs are listing fees and directors’ and officers’ insurance specific to the Company’s Nasdaq listing and have been reclassed below Adjusted EBITDA as they are not recurring.
Condensed Interim Consolidated Statements of Financial Position(Unaudited; Expressed in thousands of Canadian dollars)For the three months ended March 31, 2024 and 2023 March 31,2024 December 31,2023Assets Current assets Cash and cash equivalents $55,540 $55,455 Accounts receivable 22,011 32,136 Income tax receivable 3,517 3,301 Prepaid expenses and other 4,569 4,123 85,637 95,015 Non-current assets Other assets 64 63 Property and equipment 8,590 9,329 Intangible assets 8,024 7,618 Goodwill 4,870 4,870 107,185 116,895 Liabilities Current liabilities Accounts payable and accrued liabilities 19,251 26,488 Income tax payable 1,116 717 Borrowings 131 131 Lease obligations 1,733 1,726 22,231 29,062 Non-current liabilities Borrowings 14 47 Deferred tax liability 1,092 1,001 Lease obligations 5,661 6,087 28,998 36,197 Shareholders’ equity 78,187 80,698 107,185 116,895 illumin Holdings Inc.
Total First Quarter Revenue of $25.0 millionillumin Self-Service Revenue up 282% YoY (All monetary figures are expressed in Canadian dollars unless otherwise stated) TORONTO, May 09, 2024 (GLOBE NEWSWIRE) -- illumin Holdings Inc.(TSX: ILLM) ("illumin” or "Company”), a journey advertising technology company that empowers marketers to make smarter decisions about communicating with online consumers, today announced its financial results for the first quarter ended March 31, 2024.
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