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illumin Holdings (TSE:ILLM)
TSX:ILLM
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illumin Holdings
(TSX:ILLM)
50Neutral
illumin Holdings (ILLM) vs. S&P 500 (SPY)
Market Cap
C$98.38M
Dividend YieldN/A
Average Volume (3M)82.51K
Price to Earnings (P/E)533.3
Beta (1Y)1.60
Revenue Growth15.82%
EPS GrowthN/A
CountryCA
Employees216
SectorCommunication Services
Sector Strength83
IndustryAdvertising Agencies
Share Statistics
EPS (TTM)-0.04
Shares Outstanding51,238,056
10 Day Avg. Volume154,873
30 Day Avg. Volume82,507
Financial Highlights & Ratios
PEG Ratio-6.23
Price to Book (P/B)1.27
Price to Sales (P/S)0.00
P/FCF Ratio155.91
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$3.08Price Target Upside60.42% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
illumin Holdings Business Overview & Revenue Model
Company Descriptionillumin Holdings Inc., a technology company, provides digital media solutions in the United States, Canada, Europe, Latin America, and internationally. The company offers a programmatic marketing platform that enables advertisers to connect with their audiences across online display, video, social, and mobile campaigns. Its platform also allows advertisers to manage their purchasing of online display advertising in real-time using programmatic ad buying. In addition, the company offers illumin, an advertising automation technology that provides planning, media buying, and omnichannel intelligence; and allows advertisers to map their consumer journey playbooks across screens and execute in real-time using programmatic technology. It serves Fortune 500 enterprises and small to mid-sized businesses. The company was formerly known as AcuityAds Holdings Inc. and changed its name to illumin Holdings Inc. in June 2023. illumin Holdings Inc. is headquartered in Toronto, Canada.
How the Company Makes Moneyillumin Holdings generates revenue through a multi-faceted approach, leveraging its diversified portfolio. Key revenue streams include subscription fees from its software as a service (SaaS) products, service fees from digital marketing campaigns, and consulting charges for data analytics services. The company also engages in strategic partnerships with other technology firms to expand its market reach and enhance its service offerings. These collaborations often result in joint ventures or shared revenue models that contribute significantly to its earnings.
illumin Holdings Financial Statement Overview
Summary
illumin Holdings displays mixed financial health. There is modest revenue growth but the company struggles with profitability, indicated by negative EBIT and low net profit margins. The balance sheet shows low leverage but declining assets and equity suggest challenges. Cash flow management is adequate, though free cash flow volatility highlights potential liquidity issues.Income Statement
The company has shown a modest revenue growth rate of 2.94% in the TTM compared to the previous year. However, profitability metrics are concerning, with a negative EBIT margin and a net profit margin of only 0.10% for the TTM period, indicating operating struggles. The gross profit margin remains stable but is overshadowed by persistent negative EBIT and EBITDA margins.45
Neutral
Balance Sheet
The balance sheet reflects a relatively strong equity position, with a high equity ratio of approximately 71.45% in the TTM period. The debt-to-equity ratio is low at 0.07, indicating minimal leverage and financial risk. However, the company has experienced declining total assets and equity over the years, suggesting potential challenges in asset management and growth.55
Neutral
Cash Flow
The cash flow statement shows positive operating cash flow in the TTM, but free cash flow has sharply declined compared to the previous period, indicating pressure on liquidity. The operating cash flow to net income ratio is healthy, suggesting efficient cash generation relative to net earnings. However, the volatility in free cash flow growth is a concern.60
Neutral
| Breakdown | |||||
| TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 144.52M | 140.39M | 126.32M | 121.04M | 122.03M | 104.89M | Gross Profit |
| 65.67M | 65.46M | 60.30M | 60.79M | 63.56M | 54.09M | EBIT |
| -4.95M | -5.03M | -11.38M | -5.52M | 9.39M | 6.99M | EBITDA |
| -851.00K | 323.00K | -5.89M | -665.00K | 19.01M | 15.75M | Net Income Common Stockholders |
| 151.00K | 867.00K | -10.99M | -753.44K | 11.75M | 3.69M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 55.45M | 55.95M | 55.45M | 85.94M | 102.21M | 22.64M | Total Assets |
| 116.89M | 125.82M | 116.89M | 141.65M | 149.83M | 72.43M | Total Debt |
| 7.99M | 6.26M | 7.99M | 10.87M | 11.01M | 17.15M | Net Debt |
| -47.46M | -49.69M | -47.46M | -75.07M | -91.20M | -5.49M | Total Liabilities |
| 36.20M | 46.79M | 36.20M | 38.52M | 36.77M | 40.38M | Stockholders Equity |
| 80.70M | 79.03M | 80.70M | 103.13M | 113.06M | 32.05M |
| Cash Flow | Free Cash Flow | ||||
| 631.00K | 4.18M | -6.63M | -2.05M | 17.37M | 13.98M | Operating Cash Flow |
| 6.55M | 10.13M | -1.39M | 1.78M | 19.69M | 19.29M | Investing Cash Flow |
| -5.92M | -5.95M | -5.24M | -3.83M | -2.33M | -5.32M | Financing Cash Flow |
| -5.52M | -7.54M | -22.99M | -19.35M | 58.81M | 1.25M |
illumin Holdings Technical Analysis
Neutral
1.92
Price Trends
2.11
Negative
2.31
Negative
2.01
Negative
Market Momentum
-0.07
Negative
48.67
Neutral
53.19
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:ILLM, the sentiment is Neutral. The current price of 1.92 is above the 20-day moving average (MA) of 1.89, below the 50-day MA of 2.11, and below the 200-day MA of 2.01, indicating a neutral trend. The MACD of -0.07 indicates Negative momentum. The RSI at 48.67 is Neutral, neither overbought nor oversold. The STOCH value of 53.19 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TSE:ILLM.
illumin Holdings Peers Comparison
Overall Rating
UnderperformOutperform
Sector (60)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | C$59.46M | 9.94 | 9.94% | ― | 25.69% | ― | |
60 Neutral | $14.09B | 6.89 | -3.35% | 3.69% | 2.42% | -36.25% | |
50 Neutral | C$98.38M | 533.33 | 0.19% | ― | 15.82% | ― | |
49 Neutral | C$20.03M | ― | -15.32% | ― | -18.13% | 60.10% | |
34 Underperform | C$70.99M | ― | -451.55% | ― | -1.14% | 84.82% |
* Communication Services Sector Average
Performance Comparison
TSE:ILLM
illumin Holdings
1.92
0.38
24.68%
TSE:EQ
EQ Inc
1.02
-0.08
-7.27%
TSE:TBRD
Thunderbird Entertainment Group Inc
1.40
-0.40
-22.22%
TSE:PNC.A
Postmedia Ntwrk C J
1.44
0.07
5.11%
TSE:SPN
Snipp Interactive
0.07
-0.04
-36.36%
ZMDTF
Zoomd Technologies
0.59
0.54
1080.00%
illumin Holdings Earnings Call Summary
Earnings Call Date:May 09, 2025
(Q3-2024)
| % Change Since: -4.00%|
Next Earnings Date:Aug 07, 2025
Earnings Call Sentiment Neutral
The earnings call reflects strong revenue growth across all business segments, particularly in illumin self-service and programmatic revenue, alongside a significant increase in adjusted EBITDA. However, the company faced challenges with a net loss for the quarter and increased operating expenses, despite a decrease in cash reserves. The positive revenue trends and strategic initiatives indicate an optimistic outlook for future growth, though financial challenges remain.Q3-2024 Updates
Positive Updates
Record Total Revenue
Reported record total revenue of $36.3 million, a 23% increase year-over-year.
illumin Self-Serve Revenue Growth
illumin self-service revenue increased by 64% compared to Q3 2023, reaching $8.4 million and representing 23% of total revenue.
Adjusted EBITDA Increase
Adjusted EBITDA rose by 200% compared to the same period in 2023.
Programmatic Revenue Growth
Programmatic revenue grew by 39% during the quarter.
Managed Services Revenue Growth
Managed services revenue experienced year-over-year growth for the first time in over a year.
Negative Updates
Net Loss for the Quarter
Reported a net loss of $1.1 million compared to a profit of $800,000 in the same period last year, mainly due to a net foreign exchange loss and lower income taxes.
Cash and Cash Equivalents Decrease
Cash and cash equivalents decreased to $51.4 million from $55.5 million at the end of 2023, primarily due to share repurchases and investments.
Higher Operating Expenses
Total operating expenses for the third quarter were approximately $18 million, up from $16.8 million during the same period in 2023.
Company Guidance
During the third quarter 2024 earnings call for ILLM.TO, the company reported a record total revenue of $36.3 million, marking a 23% increase on a year-over-year basis. The illumin self-service business was a significant contributor, with revenue reaching $8.4 million—a 64% rise from Q3 2023—and representing 23% of the total company revenue. Programmatic revenue also grew by 39%, while managed services revenue saw a 3% increase, marking the first year-over-year growth for managed services in over a year. Adjusted EBITDA witnessed a substantial 200% improvement compared to the same period in 2023, driven by enhanced sales initiatives targeting higher spend customers and improvements in the platform's reporting and automation tools. The company onboarded 29 new illumin self-service clients, benefiting from integrations with walled gardens and CTV support. Despite higher operating expenses, the gross margin remained consistent at 47%. The call concluded with an optimistic outlook for solid fourth-quarter revenue growth, attributed to recent organizational and strategic changes.illumin Holdings Corporate Events
Business Operations and StrategyFinancial Disclosures
illumin Holdings Sees 17% Revenue Growth in Q1 2025, Bolstered by Exchange Services
Positive
May 9, 2025
illumin Holdings reported a 17% increase in first-quarter revenue for 2025, reaching $29.1 million, driven by a significant 148% rise in Exchange service revenue. Despite a decrease in Managed service revenue due to geopolitical and macroeconomic uncertainties, the company successfully onboarded 18 new Self-service clients, indicating a strategic focus on high-spend clients and long-term growth. The company continues to invest in its Self-service and Exchange platforms while managing costs and maintaining liquidity, aiming to enhance marketing and sales performance and product differentiation in a competitive market.
Spark’s Take on TSE:ILLM Stock
According to Spark, TipRanks’ AI Analyst, TSE:ILLM is a Neutral.
illumin Holdings is on a recovery path with positive revenue growth and a stronger financial position, though it faces challenges from operational inefficiencies and inconsistent cash flow. Technical indicators suggest the stock is in a bearish phase, and the valuation is high, raising concerns about overvaluation. The lack of recent earnings call data and corporate events means these factors don’t contribute to the current assessment.
To see Spark’s full report on TSE:ILLM stock, click here.
Financial Disclosures
illumin Holdings to Announce Q1 2025 Financial Results
Neutral
Apr 22, 2025
illumin Holdings Inc. has announced that it will release its first quarter 2025 financial results on May 9, 2025, before the market opens. A live webcast will be held on the same day, where the CEO and CFO will discuss the results, followed by a Q&A session. This announcement is significant for stakeholders as it provides an opportunity to gain insights into the company’s financial performance and strategic direction, potentially impacting its market positioning and investor confidence.
Spark’s Take on TSE:ILLM Stock
According to Spark, TipRanks’ AI Analyst, TSE:ILLM is a Neutral.
illumin Holdings presents a mixed outlook. The company is recovering financially with revenue growth and a strong balance sheet, which are significant positives. However, technical indicators suggest bearish momentum, and the high P/E ratio raises concerns about overvaluation. The recent partnership with Adsquare provides a strategic boost, but consistent profitability remains crucial for sustained growth.
To see Spark’s full report on TSE:ILLM stock, click here.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.