New platform outpacing initial revenue projections, has robust new business pipeline
AcuityAds Holdings Inc. (TSX:AT, OTCQX:ACUIF) (“AcuityAds” or “Company”), a leading technology company that enables advertisers to connect intelligently with audiences across digital advertising campaigns from a single platform, provided an update today on its new advertising automation technology, illumin®.
Revenue attributable to illumin exceeded $1.5 million in the fourth quarter of 2020, less than 90 days after the platform’s highly anticipated launch on October 1, 2020. While the Company had initially anticipated revenue from the platform to positively impact its overall performance by the second half of 2021, this timeline has been accelerated. Demand for the platform, both from clients that participated in the beta testing as well as clients new to the platform, has been greater than expected, with strong positive feedback.
As a result of this higher demand, AcuityAds’ pipeline for the first quarter of 2021 is larger than expected, with business expected from new clients in industries such as home furnishings, finance & insurance, quick-serve restaurants and consumer packaged goods (CPG). Major brands representing industries such as direct-to-consumer (DTC) sales, health and wellness, finance, CPG, wine and spirits, and national restaurant chains, have already turned to illumin to close the gap between planning and execution of programmatic advertising. The Company’s pipeline is expected to contribute to significant sequential illumin revenue growth, with 85% of the pipeline demand from Fortune 1000 clients.
“While we did not expect illumin to generate its first million dollars in revenues in 2020, we are absolutely thrilled to have already appreciably exceeded this major benchmark, and we are actively ramping up the team to support demand from our customers,” said Tal Hayek, CEO and Co-Founder of AcuityAds. “We believed that illumin would have a meaningful impact within the programmatic industry at large, yet we could not have anticipated the demand coming to fruition so quickly. illumin clearly fills a gap in the industry, and there is no solution on the market that offers the same visibility and control of real-time advertising performance across the consumer journey.”
To learn more about illumin, contact firstname.lastname@example.org or visit illumin.com
AcuityAds is a leading technology company that provides marketers a one-stop solution for omnichannel digital advertising with best-of-category return on advertising spend. Its journey automation technology, illumin™, offers planning, buying and real-time intelligence from one platform. With proprietary Artificial Intelligence, illumin™ brings unique programmatic capabilities to close the gap between advertising planning and execution. The company brings an integrated ecosystem of privacy-protected data, inventory, brand safety and fraud prevention partners, offering trusted solutions with proven, above-benchmark outcomes for the most demanding marketers.
AcuityAds is headquartered in Toronto with offices throughout Canada, the U.S., Europe and Latin America. For more information, visit AcuityAds.com.
For further information, please contact
Chief Executive Officer AcuityAds Holdings Inc.
Chief Financial Officer
AcuityAds Holdings Inc.
Virtus Advisory Group Inc.
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.