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AcuityAds Holdings reported total revenue of $28.3 million for Q2 2022, reflecting an 18.6% sequential increase. However, year-over-year revenue declined by 6.6% due to a transition in the sales team towards the new Journey Advertising platform, illumin. Revenue from illumin grew significantly, up 96.1% year-over-year to $10.2 million, contributing 36% of total revenue. Adjusted EBITDA fell to $1.5 million from $5.4 million in the previous year. The company repurchased 2.3 million shares worth $7.1 million during the quarter, reflecting confidence in long-term prospects.
AcuityAds Holdings Inc. (Nasdaq: ATY) announced that CEO Tal Hayek will present at the Canaccord Genuity 42nd Annual Growth Conference on August 11, 2022, in Boston. The event aims to connect institutional investors with promising growth companies across various sectors, including Technology and Healthcare. AcuityAds offers digital advertising solutions through its illumin™ platform, enhancing media planning and execution with AI capabilities. The company is headquartered in Toronto, operating globally in Canada, the U.S., Europe, and Latin America.
AcuityAds Holdings Inc. (TSX:AT, Nasdaq: ATY) will release its second quarter 2022 financial results on August 10, 2022, before market open. A live video webcast will follow at 8:30 AM ET, featuring CEO Tal Hayek and CFO Elliot Muchnik, including a Q&A session. AcuityAds provides targeted digital media solutions and utilizes its illumin™ technology for enhanced advertising performance. The company emphasizes its robust advertising ecosystem, focusing on privacy-protected data and effective brand safety measures.
AcuityAds Holdings announced the results of its annual and special meeting of shareholders held on June 16, 2022. All director nominees were successfully elected, with Sheldon Pollack expressing gratitude for past directors and welcoming new members Michele Tobin and Paul Khawaja. The meeting also approved the re-appointment of auditors and the Advance Notice By-Law. Notably, Tobin has extensive experience in consumer technology, while Khawaja leads OnX Canada. AcuityAds specializes in targeted digital media solutions and omnichannel advertising.
AcuityAds reported total revenue of $23.8 million for Q1 2022, showing a 13.4% decline year-over-year primarily due to a large client campaign in Q1 2021 that did not recur. However, revenue from the illumin platform surged 145% to $7.9 million, making up 33% of total revenue. The company's gross margin decreased to 50%, and it posted a net loss of $4.5 million compared to a net income of $1.4 million in the previous year. Operating cash flow stood at $1.8 million, while cash and cash equivalents were $99.5 million at quarter-end.
AcuityAds Holdings (TSX:AT, Nasdaq:ATY) announced approval from the Toronto Stock Exchange for a normal course issuer bid (NCIB) to repurchase up to 5,500,000 common shares, representing approximately 9.95% of its public float. The NCIB will commence on May 16, 2022, and run until May 15, 2023, allowing daily purchases of 140,680 shares, subject to block purchase exceptions. The company also plans to enter an automatic share purchase plan to facilitate these transactions. Management believes the NCIB benefits shareholders by increasing their proportional share interest.
AcuityAds Holdings Inc. (TSX:AT, Nasdaq:ATY) will participate in the 17th Annual Needham Virtual Technology & Media Conference on May 17, 2022, at 12:45 PM EDT. The company's Co-Founder and CEO, Tal Hayek, and CFO, Elliot Muchnik, will engage in a fireside chat led by Senior Analyst, Laura Martin. The conference, from May 16-19, aims to connect investors with various media and technology companies. AcuityAds specializes in targeted digital media solutions and its illumin™ platform integrates AI for effective advertising strategies.
AcuityAds Holdings Inc. (TSX:AT, Nasdaq: ATY) will report its Q1 2022 financial results on May 12, 2022, before market open. A live Zoom webcast is scheduled for the same day at 8:30 am ET, featuring CEO Tal Hayek and CFO Elliot Muchnik. Participants can register for the call via the company’s investor website. AcuityAds specializes in digital advertising technology, offering solutions to help advertisers connect with audiences across channels. The company leverages its proprietary AI technology, illumin™, to enhance advertising efficiency and effectiveness.
AcuityAds Holdings Inc. (TSX: AT, Nasdaq: ATY) announced its intention to initiate a normal course issuer bid (NCIB) to repurchase up to 5,350,000 common shares. This move comes as management believes the current market price does not reflect the shares' true value. The Board has approved the NCIB, pending Toronto Stock Exchange acceptance, aimed at enhancing shareholder value. Additionally, the company adopted an advance notice by-law for director nominations, ensuring a transparent process. Shareholders will vote on this by-law at the June 15, 2022 meeting.
AcuityAds Holdings reported fourth quarter revenue of $36.8 million, marking a 33.9% sequential increase and a 5% year-over-year increase. Illumin revenue reached $10.2 million in Q4, making up 28% of total revenue. Adjusted EBITDA for the quarter was $5.9 million, down from $7.8 million year-over-year. For the fiscal year, total revenue was $122.0 million, up 16.3% compared to 2020. Connected TV segment revenue grew approximately 251% year-over-year. The company ended the year with $102.2 million in cash, a significant increase from $22.6 million in 2020.
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