Buy Or Sell Opportunity • Jul 01
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 24% to €0.35. The fair value is estimated to be €0.45, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.1% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to grow by 9.2% in 2 years. Earnings are forecast to grow by 94% in the next 2 years. Announcement • Apr 24
illumin Holdings Inc. to Report Q1, 2026 Results on May 08, 2026 illumin Holdings Inc. announced that they will report Q1, 2026 results Pre-Market on May 08, 2026 Announcement • Apr 21
illumin Holdings Inc., Annual General Meeting, Jun 11, 2026 illumin Holdings Inc., Annual General Meeting, Jun 11, 2026. Announcement • Apr 08
Illumin Holdings Inc. Announces CEO Changes, Effective April 7, 2026 illumin Holdings Inc. announced that Simon Cairns has stepped down as Chief Executive Officer to pursue other opportunities, effective April 7, 2026. The Board of Directors has appointed Tal Hayek as Chief Executive Officer, effective April 7, 2026. A co-founder of illumin, Mr. Hayek previously served as Chief Executive Officer and was instrumental in building the Company’s journey advertising platform and scaling it as a public company. Tal Hayek brings deep institutional knowledge and a strong track record of innovation and leadership to the role. A co-founder of illumin, Mr. Hayek previously served as Chief Executive Officer and was instrumental in the development of the Company’s journey advertising platform and its growth as a public company. Announcement • Feb 23
illumin Holdings Inc. to Report Q4, 2025 Results on Mar 13, 2026 illumin Holdings Inc. announced that they will report Q4, 2025 results Pre-Market on Mar 13, 2026 Announcement • Feb 03
illumin Holdings Inc. Announces Changes to Board of Directors and Committee Compositions illumin Holdings Inc. announced changes to its board of directors, reducing the number of directors from seven to five. The Board has received and accepted the resignations of directors Roger Dent, Michele Tobin, and Yishay Waxman, effective February 1, 2026. Bruce Barker was appointed as a director of the Company, effective February 2, 2026, to fill the remaining vacancy on the Board until the next annual meeting of shareholders. Mr. Barker brings more than 30 years of experience in capital markets to illumin, having worked across both the buy-side and sell-side. He previously served as Managing Director, Institutional Equities at TD Securities, retiring from the role in 2015. Since then, Mr. Barker has been an active investor in Canadian small and micro-cap companies. He holds a Chartered Financial Analyst (CFA) designation and a Bachelor of Arts in Economics from Wilfrid Laurier University. The Board has appointed Bruce Barker as a member of the Company’s Audit Committee and confirms that David Andrews (Chair of the Audit Committee) and Sheldon Pollack will remain as members of the Audit Committee. The Board also appointed Paul Khawaja as Chair of the CCGC and further appointed Tal Hayek and Bruce Barker as members of the CCGC. Announcement • Jan 27
illumin Holdings Inc. Announces Major Upgrade of Its Advertising Platform illumin Holdings Inc. announced a major upgrade of its advertising platform that delivers clear proof of programmatic performance, connecting advertising activity directly to meaningful business outcomes while budgets are active. The results are meaningful and measurable. illumin's ecosystem extends audience reach up to 50%, 40% lift in Connected TV performance, and 25% lower retargeting costs, resulting in clear incremental impact and stronger return on ad spend while budgets are still active. For years, marketers have been led to believe that advertising dollars directly translate to business outcomes. In reality, fragmentation, delayed insight, and disconnected measurement have made that difficult to prove at scale or with accuracy, leaving teams to justify results after the fact. illumin's platform upgrade eliminates post- campaign explanation by unifying execution, supply, its Identity Graph, and measurement into a single platform built for in-market learning. New platform enhancements, including Canvas, AI-powered Insights, and Impact, work together as one operating system designed for speed, scale, and control. Rather than adding more tools, illumin embeds performance visibility directly into the workflow, enabling marketers to move faster, learn sooner, and make confident decisions without relying on separate measurement layers. Announcement • Jan 08
illumin Holdings Inc. Announces Chief Financial Officer Changes illumin Holdings Inc. announced that Elliot Muchnik, Chief Financial Officer, is leaving the Company effective January 7, 2026 to pursue other opportunities. The Company may initiate a search process to assess potential internal and external candidates and expects to fill the permanent position of Chief Financial Officer in the coming months. In the interim, Michael Amaro has been appointed as Interim Chief Financial Officer. Mr. Amaro is a CPA and a seasoned senior financial executive with over 25 years of tech and media experience, including over three years with the Company, serving as Vice President, Finance. Announcement • Oct 22
illumin Holdings Inc. to Report Q3, 2025 Results on Nov 07, 2025 illumin Holdings Inc. announced that they will report Q3, 2025 results at 9:30 AM, US Eastern Standard Time on Nov 07, 2025 Announcement • Oct 15
illumin Holdings Inc. Welcomes Adtech Leader Brian Garrigan as Chief Revenue Officer illumin Holdings Inc. announced the appointment of Brian Garrigan as Chief Revenue Officer (CRO) ??effective immediately. He will report to illumin’s CEO, Simon Cairns. A proven adtech leader, Brian Garrigan brings more than a decade of experience leading high-performing sales organizations and driving scalable growth across enterprise, mid-market, and channel sales. Most recently, as SVP of Sales at Simpli.fi, he helped transform the company from an early-stage startup into a category leader recognized for its innovation in programmatic media and CTV. In his new role, Garrigan will oversee global sales, account management, and client success at illumin. He will focus on expanding illumin’s reach across North America, Latin America, and Europe while strengthening client relationships and revenue performance. Garrigan has a proven track record for developing teams that consistently deliver double-digit growth while maintaining a customer-first mindset. At illumin, he will focus on expanding enterprise partnerships, deepening channel relationships, and reinforcing a culture centered on people, process, and performance. Announcement • Oct 07
Illumin Holdings Inc. Ignites Bold New Era with Brand Overhaul and Platform Upgrades, Lighting Up New York During Advertising Week illumin Holdings Inc. unveiled a new brand identity and its rallying tagline, "See More. Achieve More." taking over the streets around Advertising Week New York. The brand reveal storm the streets of New York during Advertising Week, where illumin unleash five massive mobile digital billboards through Times Square, Hudson Yards, SoHo, Midtown, and the Javits Center--sending an unmistakable signal that a new era has begun driven by its unified journey advertising platform and AI-powered solutions. This high-impact takeover was the launch pad for a global omnichannel campaign spanning CTV, Digital Out-of-Home (DOOH), programmatic display, and Meta platforms--delivering the new illumin identity to live audiences, brands, and agencies worldwide. From its earliest days, illumin has been an innovator and a disruptor, challenging the status quo of the demand-side platform (DSP) category. Born with the customer in mind, illumin understands that marketers, especially challenger brands competing against deeper-pocketed rivals, need more than incremental improvements. They need a partner willing to make every advertising dollar work harder to drive measurable results. illumin's new identity reinforces its focus on market-leading technology and innovation. The Company's unified journey advertising platform provides real-time, data-driven insights and AI-powered optimization that flows into usable intelligence that brands and agencies can utilize to control the success of their marketing campaigns. Recent platform enhancements include the capability for customers to: Launch campaigns up to 40% faster with a more streamlined workflow; Create and edit campaigns, tactics, creatives, and audiences in one place; Take bulk actions that apply across entire campaign; and Utilize a new, first-of-its kind forecasting tool, providing advanced intelligence down to a tactical level. Announcement • Jul 18
illumin Holdings Inc. to Report Q2, 2025 Results on Aug 07, 2025 illumin Holdings Inc. announced that they will report Q2, 2025 results Pre-Market on Aug 07, 2025 Announcement • Apr 22
illumin Holdings Inc. to Report Q1, 2025 Results on May 09, 2025 illumin Holdings Inc. announced that they will report Q1, 2025 results Pre-Market on May 09, 2025 Announcement • Apr 11
illumin Holdings Inc., Annual General Meeting, Jun 11, 2025 illumin Holdings Inc., Annual General Meeting, Jun 11, 2025. Announcement • Feb 21
illumin Holdings Inc. to Report Q4, 2024 Results on Mar 14, 2025 illumin Holdings Inc. announced that they will report Q4, 2024 results Pre-Market on Mar 14, 2025 Announcement • Oct 04
illumin Holdings Inc. to Report Q3, 2024 Results on Nov 08, 2024 illumin Holdings Inc. announced that they will report Q3, 2024 results Pre-Market on Nov 08, 2024 Announcement • Aug 08
illumin Holdings Inc. Announces Executive Appointments illumin Holdings Inc. announced the additions of a new Chief Revenue Officer and new Senior Vice President of Marketing, effective August 2024. Liz Ritzcovan joins illumin as Chief Revenue Officer in August 2024, taking charge of all sales, account management and customer support across illumin’s operations worldwide. Prior to joining illumin, Ms. Ritzcovan served as Chief Revenue Officer of Hustle, a person to person reach platform used by brands, agencies, non-profits and governments to engage target audiences wherever and however they want to connect. Ms. Ritzcovan also served as CRO for Namagoo, Foursquare, Bazaarvoice, Sizmek and Parade Media Group – all leading companies in and around advertising and marketing in their respective spaces. Prior to her time as CRO, Ms. Ritzcovan held senior leadership positions in Yahoo Inc. and Time Inc, both in marketing solutions and client services. She started her career in advertising and eventually developed her own agency. Based in Connecticut, Ms. Ritzcovan started with the Company in August 2024. Bridget Westerholz joins illumin as SVP of Marketing in August 2024, leveraging off her direct experience inside of agencies and brands to take over the Company’s global marketing efforts. Prior to joining illumin, Ms. Westerholz served as VP of Marketing for SPUD, western Canada’s leading online and retail natural grocery retailer. At SPUD, she rebuilt their brand strategy, product marketing plans and transactional campaigns to deliver best-ever results with their customers. Prior to SPUD, Ms. Westerholz served as VP of Marketing and Sales for Happy Planet Foods, one of Canada’s larger and most loved natural food and juice companies. Before steering brands, Ms. Westerholz also served in several leadership positions inside advertising agencies including SVP and Managing Director of FUSE Create and VP of Client Services for DDB Canada. Announcement • Jul 10
illumin Holdings Inc. to Report Q2, 2024 Results on Aug 08, 2024 illumin Holdings Inc. announced that they will report Q2, 2024 results Pre-Market on Aug 08, 2024 Announcement • Apr 12
illumin Holdings Inc. to Report Q1, 2024 Results on May 09, 2024 illumin Holdings Inc. announced that they will report Q1, 2024 results Pre-Market on May 09, 2024 Announcement • Mar 27
Illumin Holdings Inc. Appoints Simon Cairns as Chief Executive Officer, Effective from April 15, 2024 illumin Holdings Inc. announced the appointment of Simon Cairns as Chief Executive Officer, effective April 15, 2024. Mr. Cairns is a highly experienced executive with a successful track driving growth and performance in technology, services, and SaaS platform companies. With over 24 years of strategic leadership, finance, marketing, operations, and business and corporate development experience, Mr. Cairns joins illumin at a pivotal point in the Company’s growth. Mr. Cairns most recently served as CEO of SPUD, western Canada’s largest online and omnichannel retailer of fresh foods and healthy products. At SPUD, he was responsible for returning the business to growth and high performance by focusing on continuously generating value for the customer, significantly increasing financial performance, organizational effectiveness, and brand value. Before SPUD, Mr. Cairns served as CEO and GM of PNI Media, an enterprise-class ecommerce and value-added services SaaS platform provider that drove creation, ordering, production, and value-add services for the world’s largest retailers. In the past, he has held senior executive roles at organizations including Staples, ESPN, Simple Star and ACD Systems. Mr. Cairns successfully completed the executive leadership program at Harvard Business School and holds a Bachelor’s degree from the University of Victoria. Mr. Cairns succeeds Tal Hayek, who as previously announced will transition to Non-Executive Vice Chairman on the Board of Directors of illumin Holdings. Announcement • Feb 13
illumin Holdings Inc. to Report Q4, 2023 Results on Mar 07, 2024 illumin Holdings Inc. announced that they will report Q4, 2023 results at 4:00 PM, US Eastern Standard Time on Mar 07, 2024 Announcement • Feb 06
illumin Holdings Inc. Announces Executive Changes illumin Holdings Inc. announced that effective February 5, 2024, Mr. Nadeem Ahmed, Chief Revenue Officer, is no longer with illumin. The Company is in the process of identifying Mr. Ahmed’s successor, and on an interim basis, his responsibilities will be assumed by Joe Ontman, the Company’s Chief Business Development Officer and Co-Founder. Announcement • Oct 28
Illumin Holdings Inc. Announces Resignation of Tal Hayek as CEO illumin Holdings announced the planned retirement of its Chief Executive Officer, Tal Hayek. Once a new CEO is hired, Mr. Hayek will transition from his current CEO role to Non-Executive Vice Chairman on the Board of Directors of illumin Holdings. As a pioneer in journey advertising technology, illumin empowers marketers to make data-driven decisions about engaging with online consumers. Tal Hayek, one of the co-founders of the company, has led illumin through significant growth, its transition to a public company, and the development of the revolutionary illumin journey advertising platform. The Board of Directors has initiated an executive search for illumins’ next CEO. While there is no specific timeline for the search process, it is expected to be completed during 2024. Once a new CEO is in place, Mr. Hayek will assume his role as Non-Executive Vice Chairman. Announcement • Oct 17
Illumin Holdings Inc. Introduces New Functionality for Its Journey Advertising Platform by Establishing A Fully Integrated Connection with Meta to Provide New Facebook and Instagram Capabilities Allowing End-To-End Social Advertising illumin Holdings Inc. introduced new functionality for its journey advertising platform by establishing a fully integrated connection with Meta to provide new Facebook and Instagram capabilities allowing end-to-end Social Advertising.With this latest product update, illumin expands connected journeys with its first social capabilities. The new feature brings Facebook and Instagram advertisements directly onto the intuitive journey advertising platform, offering consumers an enhanced experience while providing marketers with connected journey advertising intelligence. Marketers can now create, launch, manage, and report on their Facebook and Instagram campaigns within illumin and seamlessly pass their Open Web audiences into social campaigns through an intuitive, connected interface. Announcement • Sep 05
illumin Holdings Announces Intention to Voluntarily Delist from NASDAQ illumin Holdings Inc. announced that it has notified the NASDAQ Stock Market LLC ('NASDAQ') of its intention to voluntarily delist its common shares ('Shares') from The Nasdaq Stock Market ('NASDAQ'). Shares will continue to trade on the Toronto Stock Exchange ('TSX'). With the majority of its Shares trading on the TSX, illumin believes the costs and administrative requirements associated with maintaining a dual listing are not justified at this time. The decision to voluntarily delist the Shares from NASDAQ was first announced by the Corporation in a press release on July 26, 2023. The Corporation plans to file a Form 25 with the Securities Exchange Commissions (the 'SEC') and expects that its Shares will cease trading on NASDAQ on or about September 11, 2023. New Risk • Aug 17
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: €91.5m (US$99.8m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (CA$2.5m net loss in 2 years). Share price has been volatile over the past 3 months (8.0% average weekly change). Market cap is less than US$100m (€91.5m market cap, or US$99.8m). Reported Earnings • Aug 11
Second quarter 2023 earnings released: CA$0.10 loss per share (vs CA$0.02 profit in 2Q 2022) Second quarter 2023 results: CA$0.10 loss per share (down from CA$0.02 profit in 2Q 2022). Revenue: CA$33.2m (up 17% from 2Q 2022). Net loss: CA$5.61m (down CA$6.52m from profit in 2Q 2022). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 9.0% growth forecast for the Interactive Media and Services industry in Germany. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Announcement • Jul 23
illumin Holdings Inc. to Report Q2, 2023 Results on Aug 10, 2023 illumin Holdings Inc. announced that they will report Q2, 2023 results Pre-Market on Aug 10, 2023 Reported Earnings • May 12
First quarter 2023 earnings released: CA$0.06 loss per share (vs CA$0.074 loss in 1Q 2022) First quarter 2023 results: CA$0.06 loss per share (improved from CA$0.074 loss in 1Q 2022). Revenue: CA$26.5m (up 11% from 1Q 2022). Net loss: CA$3.56m (loss narrowed 21% from 1Q 2022). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 9.4% growth forecast for the Interactive Media and Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Mar 10
Full year 2022 earnings released: CA$0.01 loss per share (vs CA$0.18 profit in FY 2021) Full year 2022 results: CA$0.01 loss per share (down from CA$0.18 profit in FY 2021). Revenue: CA$121.0m (flat on FY 2021). Net loss: CA$753.4k (down 107% from profit in FY 2021). Revenue is forecast to grow 9.6% p.a. on average during the next 3 years, compared to a 9.0% growth forecast for the Interactive Media and Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Jan 12
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 7.8%. The fair value is estimated to be €1.86, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 22% in 2 years. Earnings is forecast to decline by 161% in the next 2 years. Recent Insider Transactions • Jan 04
Co-Founder recently bought €142k worth of stock On the 29th of December, Tal Hayek bought around 100k shares on-market at roughly €1.42 per share. This transaction amounted to 4.3% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Tal has been a buyer over the last 12 months, purchasing a net total of €579k worth in shares. Buying Opportunity • Dec 10
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 24%. The fair value is estimated to be €2.03, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 22% in 2 years. Earnings is forecast to decline by 162% in the next 2 years. Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: CA$0.049 (vs CA$0.055 in 3Q 2021) Third quarter 2022 results: EPS: CA$0.049 (down from CA$0.055 in 3Q 2021). Revenue: CA$28.9m (up 5.3% from 3Q 2021). Net income: CA$2.80m (down 17% from 3Q 2021). Profit margin: 9.7% (down from 12% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Interactive Media and Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 87% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 11
Third quarter 2022 earnings released: EPS: CA$0.05 (vs CA$0.055 in 3Q 2021) Third quarter 2022 results: EPS: CA$0.05 (down from CA$0.055 in 3Q 2021). Revenue: CA$28.9m (up 5.3% from 3Q 2021). Net income: CA$2.80m (down 17% from 3Q 2021). Profit margin: 9.7% (down from 12% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Interactive Media and Services industry in Europe. Over the last 3 years on average, earnings per share has increased by 87% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 11
Second quarter 2022 earnings released: EPS: CA$0.02 (vs CA$0.058 in 2Q 2021) Second quarter 2022 results: EPS: CA$0.02 (down from CA$0.058 in 2Q 2021). Revenue: CA$28.3m (down 6.7% from 2Q 2021). Net income: CA$910.8k (down 73% from 2Q 2021). Profit margin: 3.2% (down from 11% in 2Q 2021). The decrease in margin was primarily driven by lower revenue. Over the next year, revenue is forecast to grow 22%, compared to a 16% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 108% per year but the company’s share price has only increased by 47% per year, which means it is significantly lagging earnings growth. Board Change • Jul 31
High number of new directors Independent Director Paul Khawaja was the last director to join the board, commencing their role in 2022. Recent Insider Transactions • Jun 17
Co-Founder recently bought €125k worth of stock On the 13th of June, Tal Hayek bought around 57k shares on-market at roughly €2.19 per share. In the last 3 months, there was an even bigger purchase from another insider worth €359k. Tal has been a buyer over the last 12 months, purchasing a net total of €328k worth in shares. Valuation Update With 7 Day Price Move • Jun 14
Investor sentiment deteriorated over the past week After last week's 16% share price decline to €2.11, the stock trades at a forward P/E ratio of 39x. Average forward P/E is 19x in the Interactive Media and Services industry in Europe. Total returns to shareholders of 119% over the past three years. Board Change • Jun 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 2 highly experienced directors. Independent Director Lisa Donohue was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • May 31
Co-Founder recently bought €136k worth of stock On the 27th of May, Tal Hayek bought around 63k shares on-market at roughly €2.16 per share. This was the largest purchase by an insider in the last 3 months. Tal has been a buyer over the last 12 months, purchasing a net total of €203k worth in shares. Valuation Update With 7 Day Price Move • May 20
Investor sentiment improved over the past week After last week's 15% share price gain to €2.32, the stock trades at a forward P/E ratio of 46x. Average forward P/E is 21x in the Interactive Media and Services industry in Europe. Total returns to shareholders of 134% over the past three years. Reported Earnings • May 13
First quarter 2022 earnings released: CA$0.07 loss per share (vs CA$0.025 profit in 1Q 2021) First quarter 2022 results: CA$0.07 loss per share (down from CA$0.025 profit in 1Q 2021). Revenue: CA$23.8m (down 13% from 1Q 2021). Net loss: CA$4.49m (down 429% from profit in 1Q 2021). Over the next year, revenue is forecast to grow 24%, compared to a 24% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 117% per year but the company’s share price has only increased by 32% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 11
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: CA$0.18 (up from CA$0.074 in FY 2020). Revenue: CA$122.0m (up 16% from FY 2020). Net income: CA$10.6m (up 186% from FY 2020). Profit margin: 8.7% (up from 3.5% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 21%, compared to a 30% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 119% per year but the company’s share price has only increased by 31% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 09
Investor sentiment deteriorated over the past week After last week's 18% share price decline to €2.10, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 24x in the Interactive Media and Services industry in Europe. Total returns to shareholders of 76% over the past three years. Valuation Update With 7 Day Price Move • Jan 25
Investor sentiment deteriorated over the past week After last week's 19% share price decline to €2.30, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 28x in the Interactive Media and Services industry in Europe. Total returns to shareholders of 152% over the past three years. Buying Opportunity • Jan 20
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 54%. The fair value is estimated to be CA$3.50, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% per annum over the last 3 years. The company has become profitable over the last 3 years. Recent Insider Transactions • Dec 31
Co-Founder recently bought €67k worth of stock On the 29th of December, Tal Hayek bought around 20k shares on-market at roughly €3.36 per share. In the last 3 months, there was an even bigger purchase from another insider worth €69k. Despite this recent buy, Tal has been a net seller over the last 12 months, reducing personal holdings by €7.2m. Recent Insider Transactions • Dec 16
Chief Financial Officer recently bought €69k worth of stock On the 10th of December, Elliot Muchnik bought around 23k shares on-market at roughly €2.98 per share. This was the largest purchase by an insider in the last 3 months. This was Elliot's only on-market trade for the last 12 months. Valuation Update With 7 Day Price Move • Nov 10
Investor sentiment deteriorated over the past week After last week's 26% share price decline to €3.48, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 28x in the Interactive Media and Services industry in Europe. Total returns to shareholders of 352% over the past three years. Reported Earnings • Nov 04
Third quarter 2021 earnings released: EPS CA$0.06 (vs CA$0.018 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CA$27.5m (up 5.4% from 3Q 2020). Net income: CA$3.36m (up 265% from 3Q 2020). Profit margin: 12% (up from 3.5% in 3Q 2020). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 111% per year but the company’s share price has only increased by 81% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 21
Investor sentiment deteriorated over the past week After last week's 15% share price decline to CA$6.50, the stock trades at a forward P/E ratio of 43x. Average forward P/E is 35x in the Interactive Media and Services industry in Europe. Total returns to shareholders of 1,005% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €8.44 per share. Reported Earnings • Aug 11
Second quarter 2021 earnings released: EPS CA$0.058 (vs CA$0.032 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CA$30.3m (up 55% from 2Q 2020). Net income: CA$3.36m (up CA$4.96m from 2Q 2020). Profit margin: 11% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 97% per year but the company’s share price has increased by 122% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jun 10
AcuityAds Holdings Inc. has completed a Follow-on Equity Offering in the amount of $50.000006 million. AcuityAds Holdings Inc. has completed a Follow-on Equity Offering in the amount of $50.000006 million.
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 4,926,109
Price\Range: $10.15
Transaction Features: New Market Listing Reported Earnings • May 12
First quarter 2021 earnings released: EPS CA$0.03 (vs CA$0.004 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: CA$27.5m (up 13% from 1Q 2020). Net income: CA$1.36m (up CA$1.16m from 1Q 2020). Profit margin: 5.0% (up from 0.8% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 80% per year but the company’s share price has increased by 176% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions • Mar 28
Co-Founder & VP of Client Operations recently sold €9.0m worth of stock On the 26th of March, Rachel Kapcan sold around 706k shares on-market at roughly €12.71 per share. This was the largest sale by an insider in the last 3 months. Rachel has been a seller over the last 12 months, reducing personal holdings by €15m. Recent Insider Transactions • Mar 24
Independent Director recently sold €274k worth of stock On the 15th of March, Roger Dent sold around 21k shares on-market at roughly €13.07 per share. In the last 3 months, they made an even bigger sale worth €918k. Insiders have been net sellers, collectively disposing of €31m more than they bought in the last 12 months. Reported Earnings • Mar 04
Full year 2020 earnings released: EPS CA$0.07 (vs CA$0.12 loss in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: CA$104.9m (down 12% from FY 2019). Net income: CA$3.69m (up CA$9.30m from FY 2019). Profit margin: 3.5% (up from net loss in FY 2019). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has increased by 180% per year, which means it is tracking significantly ahead of earnings growth. Analyst Estimate Surprise Post Earnings • Mar 04
Revenue beats expectations Revenue exceeded analyst estimates by 0.7%. Over the next year, revenue is forecast to grow 23%, compared to a 46% growth forecast for the Interactive Media and Services industry in Germany. Is New 90 Day High Low • Feb 21
New 90-day high: €20.80 The company is up 410% from its price of €4.08 on 20 November 2020. The German market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Interactive Media and Services industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €4.44 per share. Is New 90 Day High Low • Jan 26
New 90-day high: €14.10 The company is up 346% from its price of €3.16 on 28 October 2020. The German market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Interactive Media and Services industry, which is down 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €4.46 per share. Recent Insider Transactions • Dec 26
Chief Financial Officer recently sold €6.6m worth of stock On the 22nd of December, Jonathan Pollack sold around 500k shares on-market at roughly €13.15 per share. This was the largest sale by an insider in the last 3 months. Jonathan has been a seller over the last 12 months, reducing personal holdings by €8.1m. Recent Insider Transactions • Dec 20
Chief Financial Officer recently sold €833k worth of stock On the 15th of December, Jonathan Pollack sold around 100k shares on-market at roughly €8.33 per share. In the last 3 months, there was an even bigger sale from another insider worth €2.1m. Jonathan has been a seller over the last 12 months, reducing personal holdings by €1.5m. Recent Insider Transactions • Dec 09
Co-Founder recently sold €2.1m worth of stock On the 4th of December, Tal Hayek sold around 545k shares on-market at roughly €3.93 per share. This was the largest sale by an insider in the last 3 months. Tal has been a seller over the last 12 months, reducing personal holdings by €2.1m. Announcement • Dec 06
AcuityAds Holdings Inc. has completed a Follow-on Equity Offering in the amount of CAD 20.008 million. AcuityAds Holdings Inc. has completed a Follow-on Equity Offering in the amount of CAD 20.008 million.
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 3,280,000
Price\Range: CAD 6.1
Discount Per Security: CAD 0.366 Is New 90 Day High Low • Nov 27
New 90-day high: €4.90 The company is up 212% from its price of €1.57 on 28 August 2020. The German market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Interactive Media and Services industry, which is down 15% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.99 per share. Analyst Estimate Surprise Post Earnings • Nov 16
Revenue beats expectations Revenue exceeded analyst estimates by 9.5%. Over the next year, revenue is forecast to grow 14%, compared to a 33% growth forecast for the Interactive Media and Services industry in Germany. Reported Earnings • Nov 16
Third quarter 2020 earnings released: EPS CA$0.018 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: CA$26.1m (down 3.0% from 3Q 2019). Net income: CA$921.2k (up CA$2.28m from 3Q 2019). Profit margin: 3.5% (up from net loss in 3Q 2019). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has increased by 61% per year, which means it is tracking significantly ahead of earnings growth. Analyst Estimate Surprise Post Earnings • Nov 12
Revenue beats expectations Revenue exceeded analyst estimates by 9.5%. Over the next year, revenue is forecast to grow 13%, compared to a 33% growth forecast for the Interactive Media and Services industry in Germany. Reported Earnings • Nov 12
Third quarter 2020 earnings released: EPS CA$0.02 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: CA$26.1m (down 3.0% from 3Q 2019). Net income: CA$921.2k (up CA$2.28m from 3Q 2019). Profit margin: 3.5% (up from net loss in 3Q 2019). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has increased by 70% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Nov 05
AcuityAds Holdings Inc. to Report Q3, 2020 Results on Nov 11, 2020 AcuityAds Holdings Inc. announced that they will report Q3, 2020 results at 9:00 AM, Eastern Standard Time on Nov 11, 2020 Is New 90 Day High Low • Oct 26
New 90-day high: €2.98 The company is up 192% from its price of €1.02 on 28 July 2020. The German market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Interactive Media and Services industry, which is down 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.19 per share. Announcement • Oct 04
AcuityAds Unveils New Advertising Automation Platform, Illumin AcuityAds Holdings Inc. revealed the new, highly anticipated advertising automation platform, illuminTM. The illumin platform is now available to advertisers, enabling planning, buying and omnichannel intelligence in a single platform for seamless visualization and management of the consumer journey. illumin allows advertisers to map their consumer journey playbooks across screens and execute in real- time using programmatic technology. A natural evolution stemming from the notable growth of AcuityAds over the last several years, illumin is the first standalone brand to grow from within the AcuityAds ecosystem following over $100 million invested in the brand's technology offerings. The platform offers a simple, intuitive user experience for marketing teams of all sizes and experience, guiding marketers in their decision making process in a way that can be personalized to their unique goals. Key benefits of the illumin platform include: Reduced organizational silos: Over a quarter (26%)1 of marketing budgets for advertising are squandered due to disconnects between the ad placement strategy and creative strategy. illumin enables advertisers to reduce these organizational silos for maximum budget efficiency. Decreased setup time and cost: On average, it takes 300 hours to get DSP systems running for one individual within the organization. With illumin, this time is significantly decreased. Better ad attribution: Advertisers waste $82 billion in spend every year due to poor attribution within the marketplace. illumin offers full visibility and control of real-time advertising performance across channels and types of creative. Is New 90 Day High Low • Oct 02
New 90-day high: €2.42 The company is up 246% from its price of €0.70 on 03 July 2020. The German market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Interactive Media and Services industry, which is up 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €10.62 per share. Recent Insider Transactions • Oct 01
Chief Financial Officer recently sold €645k worth of stock On the 28th of September, Jonathan Pollack sold around 300k shares on-market at roughly €2.15 per share. This was the largest sale by an insider in the last 3 months. This was Jonathan's only on-market trade for the last 12 months. Announcement • Jul 31
AcuityAds Holdings Inc. to Report Q2, 2020 Results on Aug 13, 2020 AcuityAds Holdings Inc. announced that they will report Q2, 2020 results at 9:00 AM, Eastern Standard Time on Aug 13, 2020