illumin (ILLM) Wedbush Securities AdTech Conference summary

Business overview and recent performance

• Operates a CAD 120 million ad tech platform with 60% of sales from the U.S., 20% from Canada, and 20% international.

• Transitioned leadership in April 2024, bringing in a new CEO, head of marketing, and head of sales.

• Achieved two consecutive quarters of self-service revenue growth, with Q2 self-service up 61% and now 30% of total revenue.

• Q2 2024 revenue was CAD 29.2 million, with 33 new self-service customers onboarded and a gross margin of 48%.

• Adjusted EBITDA reached CAD 500,000, and net loss narrowed to CAD 1 million from CAD 5.6 million year-over-year.

Strategic direction and product evolution

• Focuses on both self-service and managed services, aiming for growth in both segments in 2025.

• Self-service platform targets brands seeking transparency, control, and faster insights across channels.

• Strategy includes leveraging AI, existing infrastructure, and balance sheet for market and customer acquisition.

• Product portfolio is being reconfigured to integrate self-service and managed services, enhancing customer value.

• CTV (connected TV) is a key growth channel, up 100% year-over-year in Q2.

Market trends and competitive positioning

• Industry shift toward transparency and omni-channel insights is driving demand for self-service solutions.

• Platform enables cross-channel campaign planning and full-funnel visibility, delivering higher ROI for clients.

• Positioned between commoditized DSPs and walled gardens, offering differentiated value through insights and control.

• Sees opportunity for growth through both organic improvements and potential acquisitions.

• Anticipates industry consolidation, with stronger players acquiring or taking share from weaker competitors.