The call highlighted strong growth in Exchange and adjusted Self service revenues, but these were offset by significant declines in Managed services and gross margins, alongside an increased net loss. The strategic pivot and leadership changes are promising, but challenges in Managed services and profitability remain substantial.

Company Guidance

During the third quarter of 2025, illumin Holdings reported a 5% year-over-year revenue increase to $38.2 million, primarily driven by a 103% surge in Exchange service revenue, which now comprises 54% of total sales at $20.5 million. Self service revenue was relatively stable at $8.3 million, representing 22% of total revenue; however, when excluding the impact of a large client who paused spending, Self service sales grew by 15% for the quarter and 34% year-over-year. Managed service revenue declined to $9.4 million due to market conditions impacting advertisers' willingness to market on a full-funnel basis. Gross profit for the quarter was $14.4 million, with a gross margin of 38%, down from 47% in the same period last year, influenced by a product mix shift. Operating expenses decreased slightly to $17.5 million, constituting 45.8% of revenue, while adjusted EBITDA was $0.2 million, a decline from $1.9 million in Q3 2024. The company reported a net loss of $2.1 million, attributed to lower adjusted EBITDA and higher depreciation, amortization, and severance expenses. Looking forward, illumin aims to scale its Exchange and Self service lines, focusing on product innovation and operational restructuring to drive profitability, with an emphasis on incrementality measurement and AI-powered optimization.

Exchange Service Revenue Surge

Exchange service revenue rose 103% year-over-year to $20.5 million, now representing 54% of total sales. This growth reflects the company's successful strategic pivot towards outcomes-based platforms.

Self Service Revenue Growth Adjusted for Client Exit

Self service revenue was $8.3 million, appearing flat due to a large client pause. Excluding this, the revenue grew by 15% for the quarter and 34% year-over-year, with 23 new clients onboarded.

Operational Restructuring and Cost Management

Implemented cost containment and restructuring initiatives to drive profitability and platform leverage, with operating expenses decreasing from $18 million in Q3 2024 to $17.5 million in Q3 2025.

New Leadership to Drive Growth

Appointment of Brian Garrigan as Chief Revenue Officer to lead global sales and drive scalable growth.

illumin Holdings (ILLMF) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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ILLMF Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Mar 05, 2026	2025 (Q4)	0.03 / -	0.057	―	―	―
Nov 07, 2025	2025 (Q3)	<0.01 / -0.03	-0.014	-100.00% (-0.01)	―	―
Aug 07, 2025	2025 (Q2)	-0.02 / -0.08	-0.014	-450.00% (-0.06)	―	―
May 09, 2025	2025 (Q1)	-0.02 / -0.03	-0.014	-100.00% (-0.01)	―	―
Mar 14, 2025	2024 (Q4)	0.02 / 0.06	-0.036	260.00% (+0.09)	―	―
Nov 08, 2024	2024 (Q3)	>-0.01 / -0.01	0.007	-300.00% (-0.02)	―	―
Aug 08, 2024	2024 (Q2)	-0.03 / -0.01	-0.071	80.00% (+0.06)	―	―
May 09, 2024	2024 (Q1)	-0.04 / -0.01	-0.043	66.67% (+0.03)	―	―
Mar 07, 2024	2023 (Q4)	-0.02 / -0.04	-0.007	-400.00% (-0.03)	―	―
Nov 09, 2023	2023 (Q3)	-0.03 / <0.01	0.036	-80.00% (-0.03)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

ILLMF Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 07, 2025	$0.81	$0.74	-8.98%
Aug 07, 2025	$1.57	$1.22	-22.54%
May 09, 2025	$1.48	$1.22	-17.96%
Mar 14, 2025	$1.79	$1.77	-0.90%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does illumin Holdings (ILLMF) report earnings?

illumin Holdings (ILLMF) is schdueled to report earning on Mar 05, 2026, After Close (Confirmed).

What is illumin Holdings (ILLMF) earnings time?

illumin Holdings (ILLMF) earnings time is at Mar 05, 2026, After Close (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is ILLMF EPS forecast?

ILLMF EPS forecast for the fiscal quarter 2025 (Q4) is 0.03.

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