Business
illumin Reports First Quarter 2025 Financial Results
First Quarter Revenue of $29.1 Million up 17% YoY Exchange Service Revenue up 148% YoY ...
About this update from Illumin Holdings Inc.
[{"type":"text","content":"illumin Reports First Quarter 2025 Financial Results\n\n\n\n\n First Quarter Revenue of $29.1 Million up 17% YoY\n \n\n\n Exchange Service Revenue up 148% YoY\n \n\n\n\n\n (All monetary figures are expressed in Canadian dollars unless otherwise stated)\n \n\n\n\n TORONTO, May 09, 2025 (GLOBE NEWSWIRE) -- illumin Holdings Inc. (TSX: ILLM and OTCQB: ILLMF) (“illumin” or the “Company”), the advertising technology platform that enables you to win your next customer, today announced its financial results for the first quarter ended March 31, 2025.\n \n\n\n\n First Quarter 2025 Highlights\n \n\n\n\n\n First quarter 2025 revenue rose 17% year-over-year to $29.1 million, driven by higher Exchange service revenue, partially offset by lower Managed service revenue.\n \n\n Self-service revenue was $8.4 million, up slightly compared with the year ago period and represented 29% of total revenue.\n \n\n The Company on-boarded 18 net new Self-service clients during the quarter, reflecting sales initiatives targeting higher-spend clients and positioning the Company for continued long-term Self service revenue growth.\n \n\n Managed service revenue was $8.7 million compared to $11.8 million in the prior year, primarily reflecting more cautious marketing spend related to geo-political and macro-economic uncertainty.\n \n\n Exchange service revenue increased by 148% from the prior year to $12.0 million, resulting from increased demand from new customers, an enhanced supplier network, and platform improvements.\n \n\n Gross margin was 45% compared to 47% for the same period in 2024, reflecting the change in mix to service lines with lower margins, such as Exchange service.\n \n\n Net revenue, or gross profit (revenue less media-related costs), was $13.1 million, up 13% compared with $11.6 million in the prior year period.\n \n\n Adjusted EBITDA loss was $0.4 million, compared to $0.0 million in the prior year period, primarily attributable to higher operating costs due to higher sales, sales support functions, and marketing costs, partly offset by higher revenue.\n \n\n Net loss was $(1.9) million, compared to $(1.1) million in Q1 2024. The increase in the net loss was primarily a result of higher operating costs due to increased sales and marketing costs and a lower net foreign exchange gain compared to the prior year p...