TORONTO and NEW YORK, March 11, 2016 /CNW/ – AcuityAds Holdings Inc. (TSXV:AT) (“AcuityAds” or “Company”), a technology leader that provides targeted digital media solutions enabling advertisers to connect intelligently with audiences across online display, video, social and mobile campaigns, today announced financial results for the fourth quarter and full year ended December 31, 2015.
“2015 was a year of significant achievements for our Company. We saw full year revenues climb by over 50% and in Q4, we posted our first EBITDA positive quarter as a public company,” said Tal Hayek, CEO of AcuityAds. “In Addition, the Company continues to be well positioned with a solid balance sheet, industry leading technology, a team of world-class professionals and hundreds of top-tier customers from all over the globe to help facilitate our continued growth.”
Fourth Quarter Financial Highlights
- Total revenue for Q4 2015 increased by 73% to $7,591,957, compared to $4,395,563 in Q4 2014. Q4 is a seasonally strong quarter. The Company anticipates a seasonal revenue decline in the first quarter of 2016.
- SaaS-based Self-Service revenue for Q4 2015 increased by 400% to $3,658,461, compared to $730,477 in Q4 2014.
- SaaS-based Self-Service revenue represented 48% of overall revenue in Q4 2015 compared to 17% in the same period last year.
- US revenue for Q4 2015 increased by 132% to $2,811,258 compared to $1,209,707 in Q4 2014.
- Revenue less media costs remained strong at 46% for Q4 2015 and 49% for the twelve months ended December 31, 2015.
- While total revenue grew by 73% for the quarter, the operating expenses for the quarter remained flat compared to Q4 2014.
- The Company delivered a positive adjusted EBITDA of $261,506 in Q4 2015, compared to an adjusted EBITDA loss of $864,051 in Q4 2014.
- Net loss and comprehensive loss for Q4 2015 decreased by 47% to $784,733, compared to a net loss of $1,485,902 in Q4 2014.
- As at December 31, 2015, the Company’s cash and restricted cash balance was $4,502,754 compared to $1,003,626 as atSeptember 30, 2015.
2015 Financial Highlights
- Full year revenue ending December 31, 2015 increased by 52% to $20,693,664 compared to $13,652,246 in 2014.
- SaaS-based Self-Service revenue increased by 300% to $7,200,177 in the twelve months ended December 31, 2015, compared to$1,798,962for in 2014.
- For 2015, adjusted EBITDA loss was $1,442,669 compared to an adjusted EBITDA loss of $4,857,692 for 2014. The substantial improvement in adjusted EBITDA comes as a result of higher sales performance, increased operating leverage attributable to our SaaS-based Self-Service offering and the continuation of the Company’s focus on rigorous cost management.
- Net loss and comprehensive loss for 2015 decreased by 41% to $3,912,642, compared to a net loss of $6,579,564 in 2014.
Fourth Quarter Operational Highlights
- The Company closed $7,000,000 of debt financing led by Silicon Valley Bank.
- AcuityAds signed a multi-year strategic alliance with Adobe to enable AcuityAds to market Adobe Audience Manager, the industry leading Data Management Platform (DMP), alongside the AcuityAds programmatic platform.
- The Company closed the year with 64 licensees utilizing the Company’s SaaS-based Self-Service technology, up from 19 at the close of the previous year.
- The Company was recognized for the 2nd year in a row in 2015 as one of North America’s fastest growing technology companies, ranking 9th on the Deloitte Fast 50TM and ranking 76th on the Deloitte Fast 500TM.
Subsequent To The Quarter
- AcuityAds was recognized as a top three finalist for Cantech Letter’s 2015 TSX Venture Tech Stock of the Year Award.
- AcuityAds was recognized in the TSX Venture 50TM as one of the Top 10 best performing technology companies on the TSX Venture Exchange.
On March 10th, the Company issued an aggregate of 88,500 Deferred Share Units (“DSUs”) pursuant to the Company’s Deferred Share Unit Plan to the six independent directors of the Company, in lieu of quarterly cash compensation. In addition, an aggregate of 223,800 DSUs were issued to certain executives of the Company, in lieu of cash bonus compensation.
AcuityAds 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 sales operations in New York,Boston, Los Angeles, Toronto and Montreal, Acuity’s customers range from large Fortune 500 enterprises to small and 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. 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.
SOURCE AcuityAds Inc.
For further information: Babak Pedram, Investor Relations, Virtus Advisory Group Inc., 416-644-5081, firstname.lastname@example.org; Tal Hayek, Chief Executive Officer, AcuityAds Holdings Inc., 416-218-9888, email@example.com