illumin (ILLM) Q2 2026 earnings summary

Executive summary

• Achieved record quarterly revenue of CAD 50.2 million in Q2 2026, a 52% year-over-year increase, driven by strong growth in Exchange and demand-side platform services.

• Exchange business led growth with CAD 27.1 million in revenue, up 108% year-over-year, supported by new and existing customer demand and expanded publisher partnerships.

• DSP business rebounded with managed service and self-serve revenues of CAD 12.3 million and CAD 10.8 million, respectively, both showing year-over-year growth.

• Returned to profitability with net income of CAD 19,000, compared to a net loss of CAD 5.8 million in Q2 2025.

• Strategic partnerships expanded, including integrations with Synth Group, Cint Group, and Audience Acuity for enhanced platform capabilities.

Financial highlights

• Q2 2026 revenue reached CAD 50.2 million, up from CAD 33.1 million in Q2 2025.

• Gross profit was CAD 17.6 million, a 24% increase year-over-year, with gross margin at 35.1% versus 42.9% last year due to revenue mix shift.

• Adjusted EBITDA was CAD 2.0 million, compared to a loss of CAD 1.0 million in Q2 2025.

• Operating expenses decreased to CAD 18.7 million from CAD 19.2 million, reflecting cost containment and lower share-based compensation.

• Cash and cash equivalents stood at CAD 33.7 million as of June 30, 2026.

Outlook and guidance

• Continued investment in AI-powered platform enhancements aimed at simplifying workflows and improving marketer efficiency.

• Expects to maintain momentum and achieve double-digit revenue growth in Q3 2026 compared to the prior year.

• Focus remains on sustainable, profitable growth and disciplined capital allocation.