- SaaS-based Self-Service Revenue Increased by
289% -
- Closed $7.0M
of New Debt Financing Led by Silicon Valley Bank -
TORONTO and NEW YORK, Nov. 18,
2015 /CNW/ - AcuityAds Holdings Inc. (TSXV:AT) ("AcuityAds"
or "Company"), a leading provider of targeted digital media
solutions, enabling advertisers to connect intelligently with
audiences across online display, video, social and mobile
campaigns, today announced third quarter (Q3) financial results for
the three and nine-month period ended September 30, 2015.
"We had a record quarter that saw our previous investments into
the U.S. and SaaS-based self-service businesses contribute
significantly to our overall revenue growth," said Tal Hayek, CEO of AcuityAds. "In the third
quarter, the Acuity team continued to execute effectively on our
plan to deliver significant revenue growth, while maintaining a
clear path to near-term profitability. Revenues for the quarter
increased by 66% while operating expenses decreased by 19% over the
same period last year. This revenue growth, coupled with the
decrease in our operating expenses, is also a strong indicator of
the operational leverage afforded by our business model. We are
seeing more and more marketers embracing programmatic as a key
enabler of their digital marketing arsenal as they strive to grow
their brand and market share and Acuity is benefiting from this
growth."
Financial Highlights
- Total revenue for Q3 2015 increased by 66% to $5,476,982, compared to $3,289,830 in Q3 2014, and increased by 42% to
$13,101,707 for nine months ended
September 30, 2015, compared to
$9,256,684 for the comparable period
in 2014.
- SaaS-based self-service revenue for Q3 2015 increased by 289%
to $1,880,884, compared to
$483,651 in Q3 2014, and increased by
276% to $3,541,716 for nine months
ended September 30, 2015, compared to
$942,356 for the comparable period in
2014.
- US Revenue for Q3 2015 increased by 87% to $1,669,428 compared to $892,046 in Q3 2014, and increased by 134% to
$4,098,701 for nine months ended
September 30, 2015, compared to
$1,749,531 for the comparable period
in 2014.
- Gross margins remain strong at 47% in Q3 2015 and 50% for nine
months ended September 30, 2015.
- The operating expenses for the quarter decreased by 19% to
$2,974,752 compared to $3,651,858 in Q3 2014 and decreased by 4% to
$9,010,599 for nine months ended
September 30, 2015, compared to
$9,353,036 for the comparable period
in 2014.
- Adjusted EBITDA loss decreased by 81% to $254,609 in Q3 2015, compared to an adjusted
EBITDA loss of $1,309,488 in Q3 2014,
and decreased by 43% to adjusted EBITDA loss of $1,704,176 for nine months ended September 30, 2015, compared to adjusted EBITDA
loss of $3,004,846 for the comparable
period in 2014.
- Net loss and comprehensive loss for Q3 2015 decreased by 73% to
$586,337, compared to a net loss of
$2,182,731 in Q3 2014.
- As at September 30, 2015, the
Company's cash balance was $1,003,626
compared to $1,916,262 as at
June 30, 2015.
- Subsequent to the quarter, the Company closed a $7.0 million debt financing, led by Silicon
Valley Bank as announced on November 13,
2015. As a result of this new debt financing, the Company
was able to retire $4,000,000 of high
interest secured debt with a significantly lower blended interest
rate.
Operational Highlights
- During the quarter, the Company increased its SaaS-based
self-service licensees to 60, an increase of 87.5% year over
year.
- During the quarter, AcuityAds received follow-on orders from a
leading North American automotive dealer and a global appliance
company for a total amount of over $690,000, to deliver strategic advertising
campaigns over a period of two to four months.
- During the quarter, the Company announced the hiring of
Renzo Dipasquale as Vice President,
Self-Serve and Enterprise, to lead the Company's high growth
SaaS-based Self-service business.
- Subsequent to the quarter, AcuityAds presented at the
2nd annual StableView Asset Management TECH15
Conference.
- Subsequent to the quarter, the Company was recognized as one of
the fastest growing technology companies in Canada and North
America, ranking 9th on the prestigious Deloitte Technology
Fast 50TM and 76th on the Deloitte Technology Fast
500TM for 2015. Ranking was primarily due to the
Company's growth rate of 1,123% over the past four years.
About AcuityAds:
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. In 2015, for the second year in a row, AcuityAds was
recognized as one of the fastest growing North American technology
companies by finishing in the top 10 in Deloitte's 2015 Technology
Fast 50™ program and in the top 100 in Deloitte's 2015 Technology
Fast 500™ program. With sales operations in New York, Boston, Los
Angeles, Toronto, and
Montreal, AcuityAds 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. 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.