Acuityads Holdings (TSE:ILLM) has released an update.
Acuityads Holdings, a journey advertising technology company, announced a slight decline in first-quarter 2024 revenue to $25.0 million, a 5.8% decrease year-over-year, due to weaker managed service and programmatic revenues, particularly in Latin America. However, the company’s self-service platform, illumin, showcased a notable revenue surge, climbing 282% from the previous year, propelled by new customer acquisitions and enhanced platform usage. Despite the overall revenue dip, Acuityads has improved its net loss position to $1.1 million, down from $3.6 million in the same quarter last year, thanks to reduced operating costs and favorable currency exchange dynamics.
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