illumin Holdings Inc T.ILLM

Acuityads Market pitch (YouTube)

[Torontojay]

let's stay focused here.

Illumin is the hidden value and growing sequentially which is very likely and almost a certainty to grow by over 100% annually compared to 2021. If they can grow sales by $2.5 million per quarter (also without tier 1 integration) they will produce 2022 sales of at least ~ $12.5m + $15m + $17.5 m+ $20m =~ $65m. This would compare to ~ $25.8m in Illumin sales for 2021 which is a very conservative expected YoY growth of over 150% 

Check out Docebo for a similar comparison. They produced annual revenues of US $ 62.9m  in 2020 which is up from $ 41.4m in 2019 and they currently have a market cap in excess of $3b compared to Acuityads which has a market cap of around $320 m. Although Docebo is not in the advertising space it is fair to say that Illumin is growing at a much faster pace than Docebo and deserves a better price to sales multiple. 
 

Connected Tv will likely contribute $15m + in 2022 which makes sense given that just under 10% of sales in Q3 came from CTV. Also, growth was over 200% relative to last years quarter. This number will grow in the coming years and become more meaningful as it will represent a larger percentage of total revenue. 

Here is a recent investment pitch on Acuityads. 

 

https://m.youtube.com/watch?v=9niK3-1rd-w&feature=youtu.be

[Swiftstar]

Thanks torontojay for sharing. Interesting that he modelled based on a 12% cagr and that alone gets to 5-10x growing at just market growth rates. I'm with you on the easy 50% growth for next year. If this happens, it will quickly narrow the valuation gap with TTD, currently trading at 6 multiples to shares higher than AT. Just need a few good quarters. There are still so much catalyst that can

[timjim0417]

I agree with everything you said but you are forgetting we have bum boy Tal steering the ship downstream toward a waterfall instead of upstream

[Swiftstar]

Maybe hes inspired by Steve Jobs... always wearing a plain black shirt. The only thing I dont like about him is hes not good at navigating the investors calls and appears as though he doesnt know what's going on in his business. But other then that, I think the business is steering towards the right path. To me, the outcome of this business is going to be a result of a series of decisions they

[timjim0417]

I think they have not been transparent and have behaved very slyly as the big tech companies do. Their sp should never have hit 32, it probably shouldn't have even hit 20. Everyone was hyping this as a hyper growth stock when it really wasn't. So now when they drop the earnings, investors are disappointed and this thing goes into free fall and now mgmt in a pickle. They should have been