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illumin Holdings Inc
TSX:ILLM

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illumin Holdings Inc
TSX:ILLM
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Price: 0.99 CAD Market Closed
Market Cap: 51.1m CAD

illumin Holdings Inc
Investor Relations

Illumin Holdings, Inc. engages in the provision of digital advertising solutions. The company is headquartered in Toronto, Ontario and currently employs 226 full-time employees. The company went IPO on 2012-07-17. The firm provides marketers a solution for omnichannel digital advertising with category return on advertising spend. The company enables marketers to connect with audiences across video, mobile, social and online display advertising campaigns. Its journey automation technology, illumin, offers planning, buying and real-time intelligence from one platform. Artificial intelligence, illumin brings digital advertising capabilities to close the gap between planning and execution. Its Programmatic Marketing Platform offers solutions for analytics-led video and mobile targeting that leverage data. The firm enables marketers by offering near real-time reporting and analytics, bringing accountability to programmatic advertising to deliver business results and help solve challenges that digital advertisers face.

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ILLM
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Last Earnings Call
Fiscal Period
Q3 2025
Call Date
Nov 7, 2025
AI Summary
Q3 2025

Revenue Growth: illumin reported Q3 revenue of $38.2 million, up 15.4% from the previous quarter and 5.2% year-over-year, led by exceptional growth in Exchange service.

Exchange Surge: Exchange service revenue more than doubled year-over-year, rising 103% to $20.5 million and now makes up 54% of total sales.

Self Service Resilience: Self service revenue held steady at $8.3 million, but when excluding a large client that paused spending, underlying growth was 15% for the quarter and 34% year-over-year.

Managed Service Decline: Managed service revenue dropped to $9.4 million from $17.8 million a year ago, reflecting lower demand for full-funnel advertising amid market uncertainty.

Margin Compression: Gross margin fell to 38% from 47% last year due to a higher mix of lower-margin Exchange revenue, but is expected to rebound in Q4.

Cost Control: Operating expenses decreased year-over-year as restructuring and cost reduction measures began to take effect.

Profitability Pressure: Adjusted EBITDA dropped to $0.2 million from $1.9 million, and net loss widened to $2.1 million, mainly due to lower margin and higher severance costs.

Strategic Focus: The company is accelerating investments in AI, incrementality measurement, and operational efficiency, while targeting larger, premium clients to drive future growth.

Key Financials
Revenue
$38.2 million
Exchange service revenue
$20.5 million
Self service revenue
$8.3 million
Managed service revenue
$9.4 million
Gross profit
$14.4 million
Gross margin
38%
Operating expenses
$17.5 million
Operating expenses as percentage of revenue
45.8%
Adjusted EBITDA
$0.2 million
Net loss
$2.1 million
Cash balance
$43.2 million
Shares repurchased (Q3)
432,490
Total outstanding common shares
51,821,042
Fully diluted shares outstanding
55.9 million
Insider share ownership
25%
Self service clients onboarded
23
Earnings Call Recording
Other Earnings Calls

Management

Ms. Rachel Kapcan
Co-Founder & Chief Product Officer
No Bio Available
Mr. Elliot Muchnik C.A., CPA
Chief Financial Officer
No Bio Available
Mr. Oren Hisherik
Chief Information & Technology Officer
No Bio Available
Mr. Simon Cairns
Chief Executive Officer
No Bio Available
Dr. Nathan Mekuz Ph.D.
Co-Founder & VP of Artificial Intelligence
No Bio Available
Mr. Joe Ontman
Co-Founder, Chief Business Development Officer & Interim Chief Revenue Officer
No Bio Available
Ms. Bridget Westerholz
Senior Vice President of Marketing
No Bio Available
Mr. Seraj Bharwani
Chief Strategy Officer
No Bio Available
Ms. Sophie Denault
Head of Sales for Eastern Canada
No Bio Available
Ms. Kristen Oliver
Chief Empowerment Officer
No Bio Available

Contacts

Address
ONTARIO
TORONTO
70 University Ave., Suite 1200
Contacts
+14162189888
illumin.com