AcuityAds Holdings Inc. (TSXV:AT) (“AcuityAds” or “Company”), a leader in online and mobile advertising, today announced that its fourth quarter (Q4 2014) unaudited revenue, for the period ended on December 31, 2014, grew by 46% to $4.4 million, compared to $3.0 million in Q4 2013. Although the Company has yet to complete its year-end audit, it is anticipating at this time that the EBITDA loss will be less than that reported in the third quarter of 2014.
“The significant growth in our quarterly top-line results is a clear testament to the success of our growth strategy,” said Tal Hayek, CEO of AcuityAds. “We are seeing our revenue growth accelerating as the result of our earlier investments in both the US market and our SaaS self-service offerings. While our revenues have continued to increase on a year over year basis, we have recently intensified our focus on cost management with a view to positive EBITDA in the next few quarters following our significant, but very important investments made in the US market.”
The Company is also pleased to announce the hiring of David Andrews CA who will be assuming the role of Chief Financial Officer of the Company, effective February 2nd, 2015. Mr. Andrews has more than 30 years of experience in the information technology sector, working with a wide range of companies, from Fortune 500 companies to Canadian ‘small cap’ companies. He was the former Chief Financial Officer of Redline Communications, Sun Microsystems of Canada, OnX Enterprise Solutions, Insystems Technologies and Compaq Computers Canada. He was also the former Chief Operating Officer of Coss Systems, and Managing Partner at Magna Partners Ltd. Mr. Andrews will be replacing the Company’s current Chief Financial Officer, Cathy Steiner.
“We appreciate Cathy’s many contributions to Acuity’s growth, and I speak for the broader management team and Board of Directors in wishing her the best of success with her future endeavours,” continued Mr. Hayek. “We are also very excited to have Dave join our team. Dave has wealth of experience and success working with public and private companies, and we believe that his experience and hands on approach will add significant value to our future growth as one of Canada’s fastest growing technology companies.”
AcuityAds Holdings has developed a programmatic marketing platform powered by proprietary machine learning technology that allows advertisers to target and connect intelligently with their audiences across online display, video, social and mobile campaigns. With operations in New York, Toronto, Los Angeles, Montreal, Chicago, Boston and Dallas, AcuityAds Holdings’ customers include both large Fortune 500 enterprises and small to mid-sized businesses. For more information, visit www.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. In particular, but without limitation, statements contained in this release concerning unaudited preliminary financial results are subject to adjustment upon the completion of the year end audit and such adjustments may be material. In addition, the Company’s ability to achieve positive EBITDA in the near to medium term is uncertain. 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.
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