SciQuest, which has agreed to be acquired by Trinity Ventures, reported a loss of $3.1 million for the first quarter of this year.

SciQuest is being sold to Trinity for $25.5 million.

The company reported $1.9 million in revenue, an increase of $300,000 over the previous quarter and $200,000 for the same period of 2003. However, exepenses also climbed to $4.4 million, $500,000 more than the previous quarter. The total is $1.1 million less than the same period a year ago.