AcuityAds Holdings Inc.(CVE:WLD.P) has released its financial results for the fourth quarter and full year ended Dec. 31, 2015.
AcuityAds Holdings Inc. (TSXV:AT) has released its financial results for the fourth quarter and full year ended Dec. 31, 2015.
According to the press release:
“2015 was a year of significant achievements for our Company. We saw full year revenues climb by over 50% and in Q4, we posted our first EBITDA positive quarter as a public company,” said Tal Hayek, CEO of AcuityAds. “In Addition, the Company continues to be well positioned with a solid balance sheet, industry leading technology, a team of world-class professionals and hundreds of top-tier customers from all over the globe to help facilitate our continued growth.”
Fourth Quarter Financial Highlights
Total revenue for Q4 2015 increased by 73% to $7,591,957, compared to $4,395,563 in Q4 2014. Q4 is a seasonally strong quarter. The Company anticipates a seasonal revenue decline in the first quarter of 2016. SaaS-based Self-Service revenue for Q4 2015 increased by 400% to $3,658,461, compared to $730,477 in Q4 2014. SaaS-based Self-Service revenue represented 48% of overall revenue in Q4 2015 compared to 17% in the same period last year. US revenue for Q4 2015 increased by 132% to $2,811,258 compared to $1,209,707 in Q4 2014. Revenue less media costs remained strong at 46% for Q4 2015 and 49% for the twelve months ended December 31, 2015. While total revenue grew by 73% for the quarter, the operating expenses for the quarter remained flat compared to Q4 2014. The Company delivered a positive adjusted EBITDA of $261,506 in Q4 2015, compared to an adjusted EBITDA loss of $864,051 in Q4 2014. Net loss and comprehensive loss for Q4 2015 decreased by 47% to $784,733, compared to a net loss of $1,485,902 in Q4 2014. As at December 31, 2015, the Company’s cash and restricted cash balance was $4,502,754 compared to $1,003,626 as at September 30, 2015.