TORONTO, March 24, 2015 /CNW/ - AcuityAds Holdings Inc. (TSXV:AT) ("AcuityAds" or "Company"), a technology company that has developed a proprietary "Programmatic Marketing Platform" to intelligently connect digital advertisers to consumers across online display, mobile, social and video advertising channels, and solve the key challenges that digital advertisers face, today announced fourth quarter (Q4) financial results for the three and twelve-month period ended December 31, 2014.
- Total revenue for Q4 2014 increased by 46% to $4,395,563, compared to $3,011,765 in Q4 2013, and increased by 34% to $13,652,246 in FY 2014, compared to $10,156,384 in FY 2013.
- Self-service revenue for Q4 2014 increased by 221% to $730,477, compared to $227,294 in Q4 2013, and increased by 241% to $1,798,962 in FY 2014, compared to $527,024 in FY 2013.
- US Revenue for Q4 2014 increased by 289% to $1,209,707, compared to $310,736 in Q4 2013, and increased by 217% to $2,959,238 in FY 2014, compared to $933,340 in FY 2013.
- Adjusted EBITDA of $(864,051) in Q4 2014, compared to $31,557 in Q4 2013, and $(4,857,692) for FY 2014, compared to $741,199 for FY 2013.
- Adjusted EBITDA loss improved by 34% from Q3 2014 to Q4 2014 respectively, from $(1,309,488) to $ (864,051).
- As at December 31, 2014, the Company's working capital was $2,105,240 compared to $2,088,273 as at December 31, 2013.
- During the quarter the Company increased its active licensees of its self-service technology (SaaS) to 19 from 9 in Q4 2013.
- As at December 31, 2014, the Company's total number of active advertisers increased to 411 in the year from 325 in 2013.
- During the quarter, Acuity was recognized as one of the fastest growing companies in Canada and North America, ranking 8th on the Deloitte Technology Fast 50TM and 26th on the Deloitte Technology Fast 500TM. Ranking was primarily due to the Company's growth rate of 6,589% over the past five years.
- Subsequent to the quarter, David Andrews, CPA, CA, joined the Company as the new Chief Financial Officer.
- Subsequent to the quarter, the Company entered into a partnership with SlimCut Media to deliver in-stream video ad units across SlimCut Media's video platform.
- Subsequent to the quarter, the Company reduced Operating Expenses by approximately $1,600,000 on an annualized basis.
"As part of our growth strategy for the year, we made a conscious decision to invest significantly into the US market and our SaaS-based self service offering, and we are delighted to see revenue growth from those initiatives that surpassed our expectations," said Tal Hayek, CEO of AcuityAds. "These investments contributed to a foundation that was necessary to be built for our company to continue growing aggressively in years to come, and as expected, the investments along with traditionally strong advertising spend during Q4, resulted in another quarter of impressive revenue growth. With continued focus on our top line growth and cost management, we expect to return to EBITDA positive in the next few quarters."
The Company also announces that it has granted an aggregate amount of 1,055,154 stock options on today's date to an officer and employees of the Company in accordance of the provisions of the Company's Stock Option Plan, subject to approval of the TSXV. Each option entitles the holder to purchase one common share of the Company at an exercise price of $0.98 for a period of five years. The options granted to the officer will vest in four equal instalments over the next 24 months, and options granted to employees will vest in equal instalments over the next 36 months.
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. With operations in New York, Toronto, Los Angeles, Montreal, and Boston, AcuityAds Holding's customers include both large Fortune 500
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.
For further information: Babak Pedram, Investor Relations, Virtus Advisory Group Inc., 416-644-5081, [email protected]; Tal Hayek, Chief Executive Officer, AcuityAds Holdings Inc., 416-218-9888, [email protected]