Illumin Holdings Inc. reported third-quarter revenue of $38.2 million, a 5% increase year-over-year, driven by growth in Exchange service revenue. The company also appointed a new Chief Revenue Officer as part of a transition to an outcomes-based platform approach. Despite a decrease in Managed service revenue, Self service revenue remained stable at $8.3 million. Adjusted EBITDA was $0.2 million, down from $1.9 million in the prior year period. The company also initiated a normal course issuer bid for its common shares. Additionally, illumin plans to focus on scaling Exchange and Self service, investing in product innovation, and driving profitability in 2026.

The company’s CEO, Simon Cairns, highlighted the strategic pivot towards an integrated outcomes-based platform, with Exchange service revenue doubling in the quarter. Illumin aims to attract new customers to its Exchange service offering and shift towards Self service options for advertisers. The market is moving away from traditional demand-side platforms, and illumin plans to deliver on the promise of ad tech in 2026 with generative AI-powered Self service edition. The company is confident that its strategy will lead to sustainable, profitable growth.

Illumin’s CFO, Elliot Muchnik, noted continued momentum in Exchange service revenue and cost reduction initiatives contributing to improved profitability. Despite changes in product mix affecting gross margin, the company is streamlining operations and expects benefits from restructuring efforts. The company’s financial results and non-IFRS measures provide insight into its operating performance and strategic focus for future growth. The full financial statements and MD&A for the period are available for review on SEDAR+.

Read more at GlobeNewswire: illumin Reports Third Quarter 2025 Financial Results