As the company upgrades its AI algorithm, customer ROI’s are showing improvements. It states this will be a key driver going into 2020.
AcuityAds Holdings (TSX:AT), a digital media company that generates audience metrics and insights through its artificial intelligence (AI) platform announced record third quarter results. Revenues increased by 55 percent compared to the third quarter of 2018 to C$26.9 million, while net loss figures improved to negative C$1.4 million.
As quoted in the press release:
Mr. Hayek continued, “The recently announced enhancements to our AI algorithm continue to show very positive results on customer ROI and campaign performance. In addition, the recent alpha launch of our new Self-Serve platform is generating significant interest and excitement and we expect this to be an important driver for growth in 2020.”
Third Quarter 2019 Highlights
Total revenue for the three months ended September 30, 2019 was $26.9 million compared to $17.3 million for the same period in 2018, an increase of 55%. Total revenue for the nine months ended September 30, 2019 was $80.6 million compared to $37.3 million for the same period in 2018, an increase of 116%. Total trailing twelve-month revenues are $113.5 million for the period ending September 30, 2019.
Total Self-Serve revenue for the three months ended September 30, 2019 increased 52% to $6.7 million, compared to $4.4 million for the same period in 2018. Total Self-Serve revenue for the nine months ended September 30, 2019 increased 89% to $20.1 million compared to $10.6 million for the same period in 2018.