illumin Market Research Report



Company Overview


  • Name: illumin

  • Mission: Illuminate the path for brands to connect with their customers through the power of data-driven advertising.

  • Founded: 2009 (originally as AcuityAds)

  • Founders: No specific information on individual founders.

  • Key People:

  • Simon “Smith” Cairns, CEO

  • Elliot Muchnik, CFO

  • Rachel Kapcan, Co-Founder, Chief Product Officer

  • Oren Hisherik, Chief Information Technology Officer

  • Joe Ontman, Co-Founder, Chief Business Development Officer

  • Kristen Oliver, Chief Empowerment Officer

  • Seraj Bharwani, Chief Strategy Officer

  • Dr. Nathan Mekuz Ph.D., Co-Founder, VP of Artificial Intelligence

  • Josep Tribó, SVP, Latin America & Europe

  • Headquarters: Toronto, Canada

  • Number of Employees: No information is available.

  • Revenue: For Q2 2024, revenue was $29.2 million.

  • Known For: Transforming online advertising by combining media planning and buying into an interactive, journey-focused platform.


Products



illumin Platform


  • Description: The only journey advertising platform that brings media planning and buying together in an interactive and intuitive interface.

  • Key Features:

  • Journey Canvas: A visualization tool for planning and executing the complete customer journey.

  • Audience Engagement Map: A top-down analysis of an entire campaign’s performance.

  • Pathlight Analysis: Identifies optimal routes and high-performing sequences in campaigns.


Channels Supported


  • Native: Matches the form and function of the platform upon which it appears, available in both display and video formats.

  • Display: Consists of banners, text, images, video, and audio ads.

  • Video: Covers online display ads with video content.

  • Connected TV (CTV): Ads shown before, during, or after streaming content on smart TVs.

  • Digital Out-of-Home (DOOH): Digital media run outside the home such as digital billboards.

  • Audio: Ads delivered in audio format through online platforms.

  • Social Media: Advertising on platforms like Facebook and Instagram.

  • Email Integration: Syncs first-party email audiences to open web campaigns based on user behavior.


Recent Developments



Recent Financial Performance


  • Q2 2024 Revenue: $29.2 million compared to $33.2 million in Q2 2023.

  • Net Revenue (Gross Profit) for Q2 2024: $14.0 million compared to $15.9 million in Q2 2023.

  • Adjusted EBITDA for Q2 2024: $0.5 million, an increase of 11% compared to Q2 2023.

  • Q2 2024 Net Loss: $1.0 million compared to a net loss of $5.6 million in Q2 2023.


Recent Corporate Changes


  • New CEO (2024): Simon “Smith” Cairns.

  • Rebrand (2023): From AcuityAds to illumin.

  • New Roles: Addition of Chief Revenue Officer and SVP of Marketing in August 2024.


Product and Market Expansion


  • Upgraded Trading: The company's shares were upgraded from the OTC Pink Market to the OTCQB Venture Market in the United States in June 2024.

  • Self-Service Revenue Growth: Achieved 61% year-over-year growth in self-service revenue, representing 30% of total revenue in Q2 2024.


Partnerships and Integrations


  • Integration with Meta: Enabled connected social advertising.

  • Political Campaign Enhancements: Enhanced illumin Elect with L2 for political campaign advertising.


Operational Changes


  • Normal Course Issuer Bid (NCIB): Commenced a new NCIB to purchase and cancel outstanding common shares, purchasing 2,490,686 of common shares under this bid by June 30, 2024.


This report focuses solely on data available and excludes any additional commentary or assumptions.