Revenue increase attributed to strong sequential revenue growth from Illumin, which more than offset lower advertising spend partly related to supply chain disruptions from some of their legacy customers. Revenue growth was also aided by newer emerging verticals such as pharmaceutical, technology, automotive and direct-to-consumer brands.
What’s driving the Illumin growth today? Let’s hear strait from Tal:
“Mid-market. Mid-market is what’s driving the revenue of Acuity today, or Illumin, I would say, today. So mid-market are still large brands but not as large as the Fortune 1000 brands and they’re more flexible and they move faster and they tried Illumin, and there’s been a success with Illumin and they’re increasing their spend on Illumin. And so we’re turning a little bit more attention to them as well. So we can see even bigger growth from that market. I’d like to share some examples of those mid-market companies. So there was an e-commerce company that started using Illumin in Q1 of this year; they spent $22,000. They liked it so much that in Q3 they spent $152,000; a clothing retailer, that spent only $5,000 in Q1, spent $175,000 in Q3; a large auto manufacturer started with $98,000 and in last quarter spent $216,000 on this; and a healthcare company who spent $194,000 in Q1, spent $648,000 in Q3. Purina, which we’re vocal about before spent $49,000 in Q1 and $169,000 in Q3. So as you can see, it’s working, they try it, they really like it, they see the ability to control the consumer to have it as a conversation with their consumer and then they see the insights and those learnings they get from it, all of that with a fact that it’s very easy to use, very intuitive, brings them back for more and spending more and more and more, and we expect that trend to continue.”
That’s 5 clients increasing spend from $368k to $1.36M in two quarters, a 370% increase.