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AcuityAds Registers 9% Revenue Growth In Q4 Backed By illumin; Margins Contract Due To Strategic Investments

Author: Anusuya Lahiri | March 09, 2023 10:16am

AcuityAds Holdings Inc (NASDAQ:ATY) reported fourth-quarter FY22 revenue growth of 8.7% year-on-year to CA$40 million. Revenue grew 38.2% Q/Q due to illumin revenue growth.
illumin revenue was CA$22.5 million, up 120.7% Y/Y.
Gross margin declined by 360 bps to 48.4%. Adjusted EBITDA was CA$2.4 million, down from CA$5.9 million a year ago, reflecting strategic investments in R&D, sales, and marketing to bolster illumin’s success.
AcuityAds held CA$85.9 million in cash and equivalents.
CFO Elliot Muchnik commented, "We continue to invest capital in a targeted and strategic manner to support illumin's future growth and based on these latest results, we remain confident our investments are producing strong returns. We continue to monitor the macro economic environment and will reduce costs accordingly should we see any material deterioration in our customers spend."
Price Action: ATY shares traded higher by 8.75% at $1.74 in premarket on the last check Thursday.

Posted In: ATY