“We are very pleased to report 55% revenue growth and 154% Adjusted EBITDA growth on a year-over-year basis for our second quarter. We saw strength throughout our business including some initial signs of recovery in COVID-affected industries such as travel, leisure and entertainment. This outstanding performance would not have been possible without the hard work of all our team members and I want to thank them for their efforts,” said Tal Hayek, Co-Founder and Chief Executive Officer of AcuityAds. “As we look to the third quarter, based on our current momentum, we expect to generate solid year-over-year revenue and EBITDA growth despite any normal seasonality.”
Mr. Hayek continued, “The biggest second quarter growth driver was illumin, which continues to surpass our expectations with sequential sales growth in excess of 60% and new clients growing over 135%. We continue to see rapidly increasing interest for illumin as evidenced by very significant pipeline growth in the quarter. Given this very strong pipeline growth, we expect illumin to experience strong sequential revenue growth in the second half of 2021 and continue to believe it is fundamentally changing the programmatic advertising landscape. With our latest illumin release, which further enhances the platform’s features and functionality, and the ongoing expansion of our consumer journey expertise, we are continuing to extend our leadership position in the marketplace.”
Jonathan Pollack, AcuityAds’ Chief Financial Officer, commented, “We are proud to report increasing year-over-year revenue and bottom-line growth for the quarter. Our revenues grew nearly 75% on a constant currency basis, while Adjusted EBITDA grew over 154% compared to the prior year. As a result of the strong cash flow generation and the proceeds from our recent cross-border public offering, our cash position grew to a record $93 million, providing significant financial strength to execute on our growth strategy. Finally, we successfully listed on Nasdaq, a significant milestone for the Company. We believe this listing will allow us to broaden our U.S. investor base.”
https://www.acuityads.com/press/acuityads-reports-second-quarter-2021-financial-results/
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