Reco d Qua te ly Reve ue of $50.2 Millio , Up 52% Yea -ove -Yea DSP Delive ed Double-Digit G owth While Excha ge Reve ue G ew 108%Adjusted EBITDA Imp oved by $3.0 Millio Yea -ove -Yea to $2.0 Millio
TORONTO, Aug. 06, 2026 (GLOBE NEWSWIRE) — illumi Holdi gs I c. (TSX: ILLM a d OTCQB: ILLMF) (“illumi ” o the “Compa y”), the AI adve tisi g tech ology platfo m that e ables you to wi you ext custome , today a ou ced its fi a cial esults fo the seco d qua te e ded Ju e 30, 2026.
- Seco d qua te eve ue ose 52% to $50.2 millio f om $33.1 millio i the p io yea , d ive by highe Excha ge se vice eve ue g owth, as well as double-digit eve ue g owth i Ma aged se vice a d Self se vice. This g owth positio s the Compa y well i both the dema d side a d supply side of the p og ammatic ma keti g i dust y a d p ovides g eate eve ue esilie ce.
- Excha ge se vice eve ue i c eased 108% yea -ove -yea to a eco d $27.1 millio , d ive by co ti ued st o g dema d f om ew a d existi g custome s a d expa ded publishe pa t e ships.
- Combi ed Ma aged se vice a d Self se vice eve ue i c eased app oximately 15% yea -ove -yea to $23.1 millio , demo st ati g b oad-based g owth ac oss the Compa y’s dema d-side platfo m.
- Self se vice eve ue i c eased 18% yea -ove -yea to $10.8 millio a d ep ese ted 22% of total eve ue.
- Ma aged se vice eve ue i c eased 13% yea -ove -yea to $12.3 millio , p ima ily eflecti g highe spe d f om existi g custome s a d ew custome wi s.
- G oss ma gi was 35% compa ed to 43% i the p io yea pe iod, eflecti g i c eased co t ibutio f om Excha ge se vice a d highe volumes.
- Net eve ue, o g oss p ofit ( eve ue less media- elated costs), i c eased 24% yea -ove -yea to $17.6 millio .
- Ope ati g expe ses we e $18.7 millio , a dec ease of $0.5 millio compa ed to the p io yea . Howeve , excludi g the impact of eve ue- elated expe ses as a esult of the i c eme tal 52% i eve ue, these costs we e lowe by app oximately $2.4 millio , pa tially due to the est uctu i g i itiatives we u de took i the qua te .
- Adjusted EBITDA was $2.0 millio , a imp oveme t of $3.0 millio yea -ove -yea , p ima ily d ive by highe eve ue, pa tly offset by the eve ue mix a d highe sales costs associated with g owth.
- Net i come was $19 thousa d, compa ed to a et loss of $5.8 millio i Q2 2025, p ima ily eflecti g positive Adjusted EBITDA, a highe fo eig excha ge gai , a d lowe seve a ce a d sha e-based compe satio expe ses.
- O Decembe 31, 2025, the Compa y comme ced a o mal cou se issue bid (“NCIB”) to pu chase fo ca cellatio up to 3,858,045 of its outsta di g commo sha es. U de this NCIB, daily pu chases a e limited to 25,279 commo sha es. The NCIB may co ti ue to Decembe 30, 2026 o such ea lie time as the NCIB is completed o te mi ated at the optio of the Compa y. Du i g the six mo ths e ded Ju e 30, 2026, u de this NCIB, the Compa y pu chased a d ca celled 686,558 of its outsta di g commo sha es at a ave age p ice of $0.85 pe sha e totali g app oximately $0.6 millio .
- Cash a d cash equivale ts totaled $33.7 millio as at Ju e 30, 2026, p ovidi g substa tial liquidity to suppo t the Compa y’s st ategic g owth i itiatives. The $3.8 millio qua te -ove -qua te cha ge p ima ily eflected pla ed platfo m i vestme t, wo ki g capital timi g, a d lease payme ts, pa tially offset by the positive impact of fo eig excha ge o cash. Excludi g wo ki g capital timi g, the Compa y ge e ated positive cash f om ope atio s i the qua te , while wo ki g capital emai ed stable at $37.6 millio .
- The Compa y pa t e ed with Ci t G oup to i teg ate b a d lift measu eme t di ectly i to the platfo m wo kflow, helpi g ma kete s lau ch studies faste a d measu e campaig impact while campaig s a e active.
- The Compa y also pa t e ed with Audie ce Acuity to i teg ate audie ce i tellige ce that helps adve tise s discove , activate, a d measu e audie ces with g eate p ecisio .
“The seco d qua te ma ked my fi st full qua te si ce etu i g as CEO, a d I wa t to tha k the e ti e illumi team fo isi g to the challe ge a d delive i g st o g executio ac oss the busi ess. Ou pe fo ma ce was highlighted by eco d eve ue of $50.2 millio a d a etu to p ofitability.
We co ti ued to see st e gth i ou supply-side Excha ge busi ess a d solid g owth ac oss ou dema d-side platfo m, with both Ma aged se vice a d Self se vice achievi g double-digit g owth. This b oad-based pe fo ma ce u de sco es the esilie ce of ou busi ess model ac oss both sides of p og ammatic adve tisi g.
Although ou evolvi g eve ue mix affected g oss ma gi s, discipli ed cost ma ageme t demo st ated ou ability to scale efficie tly. At the same time, i teg atio s with pa t e s such as Ci t G oup fo b a d-lift measu eme t a d Audie ce Acuity fo AI-powe ed audie ce i tellige ce a e e ha ci g ou i tellige t adve tisi g platfo m a d layi g the g ou dwo k fo sustai able g owth.
We also look fo wa d to lau chi g ew AI-powe ed solutio s desig ed to simplify the custome expe ie ce a d delive st o ge busi ess outcomes. As we e te the thi d qua te , we expect to build o this mome tum a d achieve double-digit eve ue g owth compa ed with the p io yea .”
“The seco d qua te eflected the ea ly impact of ou st ategic g owth i itiatives a d the est uctu i g campaig we u de took to educe ou ope ati g expe ses. We achieved eco d qua te ly eve ue of ove $50 millio , su passi g this milesto e fo the fi st time, with the DSP se vice li es delive i g double-digit yea -ove -yea eve ue g owth a d Excha ge delive i g 108% g owth. We also etu ed to positive et i come fo the fi st time si ce Q4 2024. We emai focused o i vesti g i key a eas, i cludi g tech ological e ha ceme ts, that will suppo t lo g-te m g owth while e su i g we emai discipli ed with ou ope ati g costs. As we co ti ue to scale the busi ess, we believe the Compa y is movi g i the ight di ectio a d is well positio ed fo the futu e.”
| Th ee mo ths e ded | Six mo ths e ded | Ju e 30, | Ju e 30, | Ju e 30, | Ju e 30, | 2026 | 2025 | 2026 | 2025 | Net i come (loss) fo the pe iod | $ | 19 | $ | (5,814 | ) | $ | (3,174 | ) | $ | (7,668 | ) | Adjustme ts: | Fi a ce i come, et | (266 | ) | (309 | ) | (602 | ) | (646 | ) | Fo eig excha ge loss (gai ) | (716 | ) | 1,557 | (1,656 | ) | 1,246 | Dep eciatio a d amo tizatio | 1,743 | 1,491 | 3,363 | 2,873 | I come tax expe se (be efit) | (118 | ) | (435 | ) | 134 | (498 | ) | Sha e-based compe satio | 311 | 1,053 | 842 | 1,790 | Seve a ce expe ses | 974 | 1,415 | 1,009 | 1,449 | Othe o – ecu i g expe ses | 11 | 61 | 91 | 61 | Total adjustme ts | 1,939 | 4,833 | 3,181 | 6,275 | $ | 1,958 | $ | (981 | ) | $ | 7 | $ | (1,393 | ) |
To egiste fo the webcast a d p ese tatio , please visit:https://eve ts.illumi .com/q2-2026-ea i gs-call
Please co ect 15 mi utes p io to the co fe e ce call to e su e time fo a y softwa e dow load that may be eeded to hea the webcast. A eco di g of the co fe e ce call webcast will be available afte the call by visiti g the Compa y’s website at https://illumi .com/i vesto -i fo matio .
This p ess elease makes efe e ce to ce tai o -IFRS Accou ti g Sta da d measu es (“ o -IFRS measu es”). These measu es a e ot ecog ized measu es u de IFRS Accou ti g Sta da ds (“IFRS”), do ot have a sta da dized mea i g p esc ibed by IFRS, a d a e the efo e u likely to be compa able to simila measu es p ese ted by othe compa ies. Rathe , these measu es a e p ovided as additio al i fo matio to compleme t those IFRS measu es by p ovidi g fu the u de sta di g of ou esults of ope atio s f om ma ageme t’s pe spective. Acco di gly, these measu es should ot be co side ed i isolatio o as a substitute fo a alysis of ou fi a cial i fo matio epo ted u de IFRS. We use o -IFRS measu es i cludi g “ eve ue less media- elated costs”, “G oss ma gi ”, a d “Adjusted EBITDA” (as well as othe measu es discussed elsewhe e i this p ess elease).
The te m “G oss ma gi ” efe s to the amou t that “ eve ue less media- elated costs” ep ese ts as a pe ce tage of total eve ue fo a give pe iod. G oss ma gi is used fo i te al ma ageme t pu poses as a i dicato of the pe fo ma ce of the Compa y’s solutio i bala ci g the goals of delive i g excelle t esults to adve tise s while meeti g the Compa y’s ma gi objectives a d, acco di gly, the Compa y believes it is useful suppleme tal i fo matio . “Adjusted EBITDA” efe s to et i come (loss) afte adjusti g fo fi a ce costs (i come), impai me t loss, fai value gai , i come taxes, fo eig excha ge loss (gai ), dep eciatio a d amo tizatio , sha e-based compe satio , acquisitio a d elated i teg atio costs, seve a ce expe ses, adjustme ts to the ca yi g value of i vestme t tax c edits eceivable, a d othe o – ecu i g items. The Compa y believes that Adjusted EBITDA is useful suppleme tal i fo matio as it p ovides a i dicatio of the esults ge e ated by the Compa y’s mai busi ess activities befo e taki g i to co side atio how those activities a e fi a ced a d taxed a d p io to taki g i to co side atio dep eciatio of p ope ty a d equipme t a d ce tai othe items listed above. It is a key measu e used by the Compa y’s ma ageme t a d boa d of di ecto s to u de sta d a d evaluate the Compa y’s ope ati g pe fo ma ce, to p epa e a ual budgets a d to help develop ope ati g pla s.
These o -IFRS measu es a e used to p ovide i vesto s with suppleme tal measu es of ou ope ati g pe fo ma ce a d thus highlight t e ds i ou busi ess that may ot othe wise be appa e t whe elyi g solely o IFRS measu es. We believe that secu ities a alysts, i vesto s, a d othe i te ested pa ties f eque tly use o -IFRS measu es i the evaluatio of issue s, a d that these o -IFRS measu es a e eleva t to thei a alysis of the Compa y.
illumi is edefi i g how ma kete s pla , execute a d measu e digital adve tisi g, b i gi g eve y stage of the campaig lifecycle i to o e st ategic platfo m. Th ough a i tuitive d ag-a d-d op Ca vas, ma kete s ca visually co ect st ategy, activatio a d outcomes, a d exte d live audie ces f om p og ammatic adve tisi g i to social cha els. Combi i g AI-powe ed i tellige ce with t a spa e t i sights, illumi gives b a ds a d age cies the cla ity to make bette decisio s, optimize with co fide ce a d p ove busi ess impact. With offices i No th Ame ica, Eu ope, a d South Ame ica, illumi suppo ts b a ds a d age cies ac oss global ma kets. Fo mo e i fo matio , visit www.illumi .com.
See Mo e. Achieve Mo e.
Ce tai stateme ts i cluded he ei co stitute “fo wa d-looki g stateme ts” withi the mea i g of applicable secu ities laws. Fo wa d-looki g stateme ts a e ecessa ily based upo a umbe of estimates a d assumptio s that, while co side ed easo able by ma ageme t at this time, a e i he e tly subject to sig ifica t busi ess, eco omic a d competitive u ce tai ties a d co ti ge cies. I vesto s a e cautio ed ot to put u due elia ce o fo wa d-looki g stateme ts. Except as equi ed by law, the Compa y does ot i te d, a d u de takes o obligatio , to update a y fo wa d-looki g stateme ts to eflect, i pa ticula , ew i fo matio o futu e eve ts.
Michael Ama oI te im Chief Fi a cial Office illumi Holdi gs I c.416-218-9888 (x5414)i vesto s@illumi .com
Please ote that the followi g fi a cial i fo matio is a ext act f om the Compa y’s Co solidated Fi a cial Stateme ts fo the th ee a d six mo ths e ded Ju e 30, 2026 a d 2025 (the “Fi a cial Stateme ts”) p ovided fo eade s’ co ve ie ce a d should be viewed i co ju ctio with the Notes to the Fi a cial Stateme ts, which a e a i teg al pa t of the stateme ts. The full Fi a cial Stateme ts a d MD&A fo the pe iod may be fou d by accessi g SEDAR+ at www.seda plus.ca.
| Cash a d cash equivale ts | $ | 33,682 | $ | 43,820 | Accou ts eceivable | 43,020 | 36,094 | I come tax eceivable | 740 | 463 | P epaid expe ses a d othe | 2,422 | 2,186 | 79,864 | 82,563 | Othe assets | 81 | 113 | P ope ty a d equipme t | 7,731 | 7,835 | I ta gible assets | 16,407 | 14,766 | Goodwill | 4,870 | 4,870 | 108,953 | 110,147 | Accou ts payable a d acc ued liabilities | 41,588 | 39,154 | I come tax payable | 25 | 274 | Lease obligatio s | 629 | 598 | 42,242 | 40,026 | Lease obligatio s | 3,774 | 4,072 | 46,016 | 44,098 | 62,937 | 66,049 | 108,953 | 110,147 |
| | | | | Reve ue | $ | 50,207 | $ | 33,124 | $ | 85,222 | $ | 62,205 | Media- elated costs | 32,586 | 18,947 | 55,197 | 35,088 | 17,621 | 14,177 | 30,025 | 27,117 | Sales a d ma keti g | 8,012 | 7,471 | 15,398 | 14,819 | Tech ology | 4,503 | 4,513 | 8,487 | 8,645 | Ge e al a d admi ist ative | 4,133 | 4,650 | 7,233 | 6,556 | Sha e-based compe satio | 311 | 1,053 | 842 | 1,790 | Dep eciatio a d amo tizatio | 1,743 | 1,491 | 3,363 | 2,873 | 18,702 | 19,178 | 35,323 | 34,683 | (1,081 | ) | (5,001 | ) | (5,298 | ) | (7,566 | ) | (266 | ) | (309 | ) | (602 | ) | (646 | ) | (716 | ) | 1,557 | (1,656 | ) | 1,246 | (982 | ) | (1,248 | ) | (2,258 | ) | 600 | (99 | ) | (6,249 | ) | (3,040 | ) | (8,166 | ) | (118 | ) | (435 | ) | 134 | (498 | ) | 19 | (5,814 | ) | (3,174 | ) | (7,668 | ) | 0.00 | (0.11 | ) | (0.06 | ) | (0.15 | ) | Items that may be subseque tly eclassified to et i come (loss): | Excha ge (loss) gai o t a slati g fo eig ope atio s | (133 | ) | 15 | (199 | ) | (373 | ) | (114 | ) | (5,799 | ) | (3,373 | ) | (8,041 | ) |
| | | Net loss fo the pe iod | $ | (3,174 | ) | $ | (7,668 | ) | Adjustme ts to eco cile et loss to et cash flows | Dep eciatio a d amo tizatio | 3,363 | 2,873 | Fi a ce i come, et | (602 | ) | (646 | ) | Sha e-based compe satio | 842 | 1,790 | Fo eig excha ge (gai ) loss | (1,656 | ) | 1,246 | U paid seve a ce expe se | 353 | 1,449 | I come tax expe se (be efit) | 134 | (498 | ) | Cha ge i o -cash ope ati g wo ki g capital | Accou ts eceivable | (7,558 | ) | 14,553 | P epaid expe ses a d othe | 306 | (432 | ) | Othe assets | 35 | 4 | Accou ts payable a d acc ued liabilities | 2,495 | (12,940 | ) | I come taxes paid, et | (573 | ) | (534 | ) | I te est eceived, et | 762 | 813 | (5,273 | ) | 10 | Additio s to p ope ty a d equipme t | (586 | ) | (1,177 | ) | Additio s to i ta gible assets | (4,079 | ) | (4,858 | ) | (4,665 | ) | (6,035 | ) | Repayme t of i te atio al loa s | – | (52 | ) | Payme t of leases | (446 | ) | (1,034 | ) | Repu chase of commo sha es fo ca cellatio | (581 | ) | (548 | ) | P oceeds f om the exe cise of stock optio s | – | 188 | (1,027 | ) | (1,446 | ) | (10,965 | ) | (7,471 | ) | 827 | (214 | ) | 43,820 | 55,952 | 33,682 | 48,267 | U paid additio s to p ope ty a d equipme t, et | 235 | 313 |
