AcuityAds Reports First Quarter 2017 Financial Results

About this update from Illumin Holdings Inc.

[{"type":"text","content":"\n\n\n\nAcuityAds Reports First Quarter 2017 Financial Results\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO and NEW YORK, May 9, 2017\n\n\n\nRevenue Increased 122% to $11.5M with Positive Adjusted EBITDA \n\n\n\nTORONTO and NEW YORK, May 9, 2017 /CNW/ - AcuityAds Holdings Inc. (TSXV:AT, OTCQB:ACUIF) (\"AcuityAds\" or \"Company\"), a technology leader that enables advertisers to connect intelligently with audiences across video, mobile, social and online display advertising campaigns, today announced its financial results for the first quarter of 2017. \n\n\"We are delighted with both the revenue increase and positive EBITDA we were able to deliver in what is typically the weakest period of the year for the advertising industry,\" stated Tal Hayek, CEO of AcuityAds. \"Q1 was extremely busy for the Company as we announced the closing of the acquisition of Visible Measures, the concurrent $11.7M bought deal financing and securing a revised $10.0M USD debt facility from Silicon Valley Bank. Also during the quarter, considerable effort was spent developing our strategies on the Visible Measures acquisition including the identification and execution of cost and revenue synergies which have been substantially completed as we entered Q2.\"\n\n First Quarter Financial Highlights:\n\n\nTotal revenue for Q1 2017 increased 122% to $11,526,767, compared to $5,202,647 in Q1 2016. The acquisition of Visible Measures closed on March 31, 2017 and therefore, no revenue from this acquisition has been recorded in the period.\nAcuityAds grew its Self-Serve partner base by adding 32 new platform partners in Q1 2017. Total Partners of the Company's SaaS-based Self-Serve programmatic platform now stands at 193 compared to 78 at the end of Q1 2016.\nSelf-Serve revenue for Q1 2017 increased 137% to $6,307,752, compared to $2,660,481 in Q1 2016 and represented 55% of overall revenue compared to 51% in the same period last year.\nUS revenue for Q1 2017 increased 276% to $4,749,485 compared to $1,264,826 in Q1 2016.\nEMEA revenue fo...

More updates from Illumin Holdings Inc.