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15.08.2018 00:03:00

AcuityAds Reports Second Quarter 2018 Financial Results

AcuityAds Reports Second Quarter 2018 Financial ResultsCanada NewsWireTORONTO and NEW YORK, Aug. 14, 2018Sequential quarterly revenue growth of 50% and positive EBITDATORONTO and NEW YORK, Aug. 14, 2018 /CNW/ - AcuityAds Holdings Inc. (TSXV:AT) ("AcuityAds" or the "Company"), a technology leader that provides targeted digital media solutions by leveraging its proprietary AI technology to enable advertisers to connect intelligently with audiences across video, mobile, social and online display advertising campaigns, today announced its financial results for the second quarter ended June 30, 2018."We are very pleased with our second quarter results as we exceeded our expectations and the guidance that we provided earlier this year in terms of both revenue and EBITDA," said Tal Hayek, CEO of AcuityAds. "We grew our gross revenue by 50% and net revenue by 55%, saw an increase in Self-Serve revenue of 42%, and improved our Adjusted EBITDA by $2.4 million, all compared sequentially to the previous quarter. Furthermore, with the launch of our next-generation AI programmatic marketing platform, our gross margins continue to be positively impacted." Mr. Hayek continued, "We continue to focus on increasing our revenues through our realigned US sales team, the addition of ADman Media and our commitment to technology enhancements. Going forward, we continue to focus on increasing our revenue while further improving our operational efficiency to enhance margins and overall profitability."Key Items in the Quarter:Closed the acquisition of ADman Media and commenced their integration into our AI platform and pursuit of global cross-selling opportunitiesClosed the $4.6 million bought-deal financing as well as secured a new $7.3 million term loanSoCast, a newly signed Self-Serve partner, launched a new digital advertising solution for radio clients powered by AcuityAdsQ2 2018 Financial Highlights:Total revenue for the three months ended June 30, 2018 was $11,964,920 compared to $17,265,803 for the same period in 2017. The decrease in year over year revenue is primarily related to the removed partners previously disclosed. Compared to Q1 2018, total revenue grew 50%.Revenue less media costs ...Full story available on Benzinga.com
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