AcuityAds Announces Two New illumin Contracts Totaling $1.5 Million Majority of Revenue Focused on Connected TV

Rhea-AI Summary

AcuityAds Holdings Inc. (OTCQX: ACUIF) announced two new contracts totaling $1.5 million for its advertising automation platform, illumin. One contract is with a global pharmaceutical firm and extends over several quarters, while the second is with a global electronics manufacturer for one quarter. The success of illumin, which launched in October 2020, highlights its ability to adapt across various industries. CEO Tal Hayek noted strong momentum, especially in Connected TV, and expects further growth in Q2 2021.

Positive

• Signed two new contracts totaling $1.5 million.
• Contracts from notable sectors: pharmaceuticals and electronics.
• Illumin is gaining traction across industries since its launch in October 2020.
• CEO projects strong growth in Q2 2021 due to increased demand.

Negative

• None.

TORONTO and NEW YORK, March 29, 2021 /PRNewswire/ - AcuityAds Holdings Inc. (TSX: AT) (OTCQX: ACUIF) ("AcuityAds'' or "Company"), the leading technology company that enables advertisers to connect intelligently with audiences across digital advertising campaigns from a single platform, is pleased to announce that it has signed two new contracts totaling $1.5 million, for its advertising automation platform, illumin. One contract is with a leading global pharmaceutical company that extends over several quarters, and the second is with a leading global electronics manufacturer that encompasses one quarter. Both contracts are with new clients to the Company.

illumin, which officially launched on October 1, 2020, is the only advertising automation platform that offers planning, buying and omnichannel intelligence in a single platform. With illumin, advertisers have the ability to build and map the entire consumer journey and execute in real-time to achieve conversion. This is resulting in illumin's adoption across a wide range of industries.

Tal Hayek, Co-Founder and Chief Executive Officer of AcuityAds commented, "These new contracts demonstrate illumin's ability to flex to the needs of a diverse range of industries with unique demands and program requirements. It also illustrates the continued momentum we are not only seeing in illumin's breadth of clients and industries, but also in Connected TV. Illumin's strong momentum continues to surpass our internal expectations and we expect further strong growth in the second quarter of 2021. As importantly, we continue to gain valuable consumer journey insights across numerous verticals helping to establish us as the clear consumer journey experts in the marketplace. These insights will enable us to help brands across diverse industries better realize their specific and unique goals."

To learn more about illumin, contact press@acuityads.com or visit illumin.com

About AcuityAds:

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.

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. The Company's clients that have been mentioned in this press release have the right to exercise an out-clause at any time during the advertising campaign.

View original content:http://www.prnewswire.com/news-releases/acuityads-announces-two-new-illumin-contracts-totaling-1-5-million-majority-of-revenue-focused-on-connected-tv-301257202.html

SOURCE AcuityAds Holdings Inc.

FAQ

What are the new contracts announced by AcuityAds on March 29, 2021?

AcuityAds announced two new contracts totaling $1.5 million for its illumin advertising platform.

What does the illumin platform offer?

Illumin offers planning, buying, and omnichannel intelligence in a single advertising automation platform.

Who are the clients involved in AcuityAds' new contracts?

One contract is with a leading global pharmaceutical company, and the other is with a major global electronics manufacturer.

When was the illumin platform launched?

The illumin platform officially launched on October 1, 2020.

What is the expected growth for AcuityAds in 2021?

AcuityAds expects strong growth in Q2 2021, driven by continued momentum in client adoption.