AcuityAds Registers 34% Sequential Revenue Growth In Q4 Aided By illumin, Post Pandemic Recovery

• AcuityAds Holdings Inc (NASDAQ:ATY) reported fourth-quarter FY21 revenue growth of 8.3% year-on-year (CC) to $36.8 million. Revenue grew 33.9% Q/Q due to both illumin and legacy revenue growth.
• illumin revenue was $10.2 million, up 37% Q/Q. The total Connected TV segment revenue grew 171% Y/Y and 19% Q/Q.
• The gross margin remained stable at 52%. The adjusted EBITDA margin plunged 1,500 bps to 16%, reflecting the company's investments.
• AcuityAds held $102.2 million in cash and equivalents and generated $3.6 million in operating cash flow.
• Elliot Muchnik, CFO, commented, "Despite ongoing global supply chain issues, we grew 2021 revenues by over 16% both from rapid illumin growth and the continuing post-pandemic economic recovery."
• Price Action: ATY shares closed higher by 9.16% at $2.74 on Wednesday.