illumin revenue grows over 60% sequentially to
$5.2 million with further sequential
growth expected throughout the second half of 2021
TORONTO and NEW YORK, July 15,
2021 /CNW/ - AcuityAds Holdings Inc. (TSX: AT) (NASDAQ: ATY)
("AcuityAds'' or "Company"), the leading technology company that
enables advertisers to connect intelligently with audiences across
digital advertising campaigns from a single platform, provided an
update today on the recent performance of its new advertising
automation technology, illumin.
In Q2 2021, revenue attributable to illumin increased over 60%
versus the first quarter of 2021 to $5.2
million. Demand for the platform continues to be very robust
with strong growth in its sales pipeline. As a result, the Company
believes illumin's revenue will experience sequential growth in Q3
2021.
"illumin revenue and pipeline growth exceeded our internal
expectations once again. We ended the second quarter with 40
illumin clients up over 135% versus the first quarter and we
believe this number will continue to increase significantly in the
quarters ahead. Our clients tell us they love the ease of use of
the illumin platform and the great data-driven insights they can
get via their consumer journeys. Once again, the vast
majority of illumin revenues came from clients which are new to the
Company," said Tal Hayek, CEO and
Co-Founder of AcuityAds. "Given our rapidly increasing backlog and
pipeline, we believe illumin's sequential revenue growth will see
solid momentum throughout the second half of the year."
To learn more about illumin, contact press@acuityads.com or
visit illumin.com
About AcuityAds:
AcuityAds is a leading technology
company that provides marketers a one-stop solution for omnichannel
digital advertising with best-of-category return on advertising
spend. Its journey automation technology, illumin™, offers
planning, buying and real-time intelligence from one platform. With
proprietary Artificial Intelligence, illumin™ brings unique
programmatic capabilities to close the gap between advertising
planning and execution. The Company brings an integrated ecosystem
of privacy-protected data, inventory, brand safety and fraud
prevention partners, offering trusted solutions with proven,
above-benchmark outcomes for the most demanding marketers.
AcuityAds is headquartered in Toronto with offices throughout Canada, the U.S., Europe and Latin
America. For more information, visit AcuityAds.com.
Disclaimer in regards to Forward-looking Statements
Certain statements included herein constitute "forward-looking
statements" within the meaning of applicable securities laws. These
statements relate to the Company's anticipated revenue from its
illumin platform. Forward-looking statements can be
identified by terms such as "may", "will", "intend", "believe",
"estimate", "consider", "expect" "anticipate" and "objective" or
other similar expressions concerning matters that are not
historical facts.
Forward-looking statements are necessarily based upon a number
of estimates and assumptions, including with respect to expected
growth, results of operations, performance and business prospects
and opportunities. While these estimates and assumptions are
considered reasonable by management at this time, they involve a
number of significant known and unknown risks and uncertainties,
any of which could cause actual results, performance or
achievements to be materially different from any future results,
performance or achievements that may be expressed or implied by
such forward-looking statements, including, without limitation, the
ultimate effect of the COVID-19 pandemic on our business and
operations; our ability to retain existing customers and attract
new customers, including under the illumin platform; our ability to
expand into additional advertising channels and expand our customer
base in Canada, the U.S. and
globally; our ability to attract and retain key personnel; the
effect of legislative and regulatory actions, including legislation
and regulation related to online advertising and online data
collection and usage, and our ability to comply with such laws and
regulations; our ability to protect our intellectual property; and
other factors affecting our business beyond our control, including,
without limitation, general economic and market conditions.
The above list of factors is not exhaustive, and you should refer
to the risks discussed under the "Risk Factors" section of the
Company's Annual Information Form dated March 1, 2021 for the fiscal year ended
December 31, 2020.
Except as required by law, AcuityAds does not intend, and
undertakes no obligation, to update any forward-looking statement
to reflect, in particular, new information or future events.
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content:https://www.prnewswire.com/news-releases/acuityads-provides-q2-2021-update-on-its-advertising-automation-platform-illumin-301334645.html
SOURCE AcuityAds Holdings Inc.