New platform revenue grows over 75% sequentially to approximately $2.7 million with further strong sequential growth expected throughout 2021
TORONTO and NEW YORK, April 13, 2021 /PRNewswire/ - AcuityAds Holdings Inc. (TSX: AT) (OTCQX: ACUIF) ("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 Q1 2021, revenue attributable to illumin increased over 75% versus the fourth quarter of 2020 to approximately $2.7 million. Demand for the platform continues to be very robust with strong growth in its sales pipeline. As such, the Company believes illumin's revenue will experience strong sequential growth again in Q2 2021.
"For the second quarter in a row, illumin exceeded our internal expectations. We ended the first quarter with 17 illumin clients and we believe this number will increase significantly in the quarters ahead. Customer feedback continues to be very positive and the majority of illumin revenues are 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 continued strong momentum throughout the rest of the year."
To learn more about illumin, contact [email protected] or visit illumin.com
AcuityAds is a leading technology company that provides marketers a powerful and holistic solution for digital advertising across all ad formats and screens to amplify reach and Share of Attention® throughout the customer journey. Via its unique, data-driven insights, real-time analytics and industry-leading activation platform based on proprietary Artificial Intelligence technology, AcuityAds leverages an integrated ecosystem of partners for data, inventory, brand safety and fraud prevention, offering unparalleled, trusted solutions that the most demanding marketers require to be successful in the digital era.
AcuityAds is headquartered in Toronto with offices throughout 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. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Investors are cautioned not to put undue reliance on forward-looking statements. Except as required by law, AcuityAds does not intend, and undertakes no obligation, to update any forward-looking statements to reflect, in particular, new information or future events.
SOURCE AcuityAds Holdings Inc.