Business
illumin Reports Fourth Quarter and Full Year 2024 Financial Results
Fourth Quarter Revenue shows Growth Across All Service Lines by 35% YoY to $49.9 Million Fu...
About this update from Illumin Holdings Inc.
[{"type":"text","content":"illumin Reports Fourth Quarter and Full Year 2024 Financial Results\n\n\n\n\n Fourth Quarter Revenue shows Growth Across All Service Lines by 35% YoY to $49.9 Million\n \n\n\n Full Year Revenue Grows 11% YoY to $140.4 Million\n \n\n\n Self-Service Revenue Grew by 45% YoY for the Quarter and 78% for the Full Year\n \n\n\n Adjusted EBITDA Improved by 42% YoY for the Quarter and 104% for the Full Year\n \n\n\n\n\n (All monetary figures are expressed in Canadian dollars unless otherwise stated)\n \n\n\n\n TORONTO, March 14, 2025 (GLOBE NEWSWIRE) -- illumin Holdings Inc. (TSX: ILLM and OTCQB: ILLMF) (“illumin” or the “Company”), a journey advertising technology company that empowers marketers to make smarter decisions about communicating with online consumers, today announced its financial results for the fourth quarter and full year ended December 31, 2024.\n \n\n\n\n Fourth Quarter 2024 Highlights\n \n\n\n\n\n Revenue was $49.9 million, up 35% year-over-year, driven by increases across all three service lines.\n \n\n Self-service revenue was up 45% to $13.0 million, compared to $8.9 million in the year ago period and represented 26% of total revenue, up from 24% in Q4 2023.\n \n\n The Company onboarded 23 net new self-service clients during the quarter, reflecting sales initiatives targeting higher-spend clients and positioning the Company for continued self-service revenue growth.\n \n\n Managed service revenue was up 28% from the prior year to $23.7 million, increasing for the 3\n \n rd\n \n consecutive quarter.\n \n\n Exchange services revenue increased by 39% from prior year to $13.2 million.\n \n\n Gross margin was 45%, compared to 49% for the same period in 2023, and was lower mainly due to product mix.\n \n\n Net revenue, or gross profit (revenue less media-related costs), was $22.7 million, compared with $18.0 million in the same quarter of the prior year.\n \n\n Adjusted EBITDA was $3.9 million, compared to $2.8 million in the prior year period. The increase was primarily attributable to higher revenue and a strengthened US dollar.\n \n\n Net income was $4.1 million, compared to a net loss of $2.6 million in Q4 2023. The increase was primarily a result of higher revenue and a net foreign exchange gain versus a loss in the prior year period, partially offset by higher costs.\n \n\n Cash and cash ...