Dear All,
As the Coronavirus pandemic continues to impact communities across the globe, I wanted to personally update you on how we are responding to the situation at AcuityAds.
First and foremost, the health and safety of our employees, families, customers and partners is paramount, and our hearts go out to everyone who has been affected by this public health emergency, whether directly or indirectly. But despite the challenges we face, we believe our business continuity plan will enable us to continue to deliver our services to our customers and with the highest quality, without compromising the safety of anyone involved.
We have the necessary tools to keep our employees connected and productive, whether they are physically in the office or not, and continue to closely monitor bookings and stay in close contact with our customers on a daily basis. That said, we believe all advertising-related businesses will see some impact from the Coronavirus pandemic.
As we have communicated during our previous two investor conference calls, we actively strengthened our business prior to this global outbreak by improving our gross margins, enhancing our cost controls and focusing on generating free cash flow. We will continue to maintain a tight focus on cost control and gross margins to ensure the business is in the best possible position regardless of the economic environment.
Programmatic advertising has become an important pathway for many businesses to reach their target audience with greater efficiencies, and realize a compelling return on investment.
Strategically, we plan to continue to capitalize on the secular growth of programmatic advertising and will continue to invest in our platform. Our efforts to dramatically simplify programmatic advertising will also continue. To this end, we remain excited about the beta testing of our new self-serve DSP platform, which we believe has the potential to revolutionize the industry.
We would be remiss to not also mention the growing Connected TV market, which also enjoys very strong, longer-term secular growth drivers, particularly including that fact that it accounts for 30% of total TV viewing hours but only 3% of total advertising dollars spent.
I look forward to providing you further updates on our progress.
Stay safe and healthy.
Sincerely,
Tal Hayek
Co-Founder and Chief Executive Officer
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About AcuityAds:
AcuityAds is a leading technology company that provides marketers a more 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 machine learning 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, Canada with sales offices in New York City, Boston, Chicago, Los Angeles, San Francisco, San Diego, Vancouver, Calgary and Montreal. For more information, visit AcuityAds.com.
For further information, please contact:
Babak Pedram
Investor Relations
Virtus Advisory Group Inc.
416-644-5081
bpedram@virtusadvisory.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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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