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acuity AcuityAds Reports Fourth Quarter and Full Year 2020 Financial Results Generated $ 35.1 million in Fourth Quarter Revenue , $ 7.8 million in Fourth Quarter Adjusted EBITDA and $ 15.8 million in Full Year 2020 Adjusted EBITDA Self - Serve Advertising Automation Platform , illumin , Exceeded Initial Expectations TORONTO and NEW YORK March 02 , 2021 - AcuityAds Holdings Inc. ( TSX : AT ) ( OTCQX : ACUIF ) ( " AcuityAds " or " Company " ) , a technology leader that provides targeted digital media solutions enabling advertisers to connect intelligently with audiences across all digital advertising channels , today announced its financial results for the three and twelve months ended December 31 , 2020 . Fourth Quarter 2020 Highlights • Total revenue for the three months ended December 31 , 2020 was $ 35.1 million , a decrease of 9 % compared to the same period in 2019 , but an increase of 35 % from the third quarter of 2020 . The decrease , when compared to the same period in 2019 was attributable to the continued impact COVID - 19 has had on certain industries including travel , leisure , and entertainment , which had been very strong contributors in Q4 2019. Combined , the year - over - year decline in these sectors was approximately $ 5.5 million . • • • • • • Net revenue or gross profit ( revenue less media costs ) for the three months ended December 31 , 2020 was $ 18.3 million compared to $ 19.6 million for the same period in 2019 . Net revenue margin ( gross margin ) for the three months ended December 31 , 2020 was 52.1 % compared to 50.8 % for the same period in 2019 , an increase of 130 basis points . Adjusted EBITDA increased over 30 % to $ 7.8 million for the three months ended December 31 , 2020 compared to $ 6.0 million for the three months ended December 31 , 2019. Adjusted EBITDA margin as a percentage of total revenue was 22 % and as a percentage of net revenue was 43 % . Total Connected TV segment revenue for the three months ended December 31 , 2020 grew approximately 227 % year - over - year and 42 % sequentially from the third quarter of 2020 . Illumin Q4 revenue was in excess of $ 1.5 million , well ahead of initial expectations , as previously announced on January 11 , 2021 . Net income for the three months ended December 31 , 2020 increased 109 % to $ 4.2 million compared to net income of $ 2.0 million for the three months ended December 31 , 2019 . • Adjusted Net Income for the three months ended December 31 , 2020 increased over 35 % to $ 7.1 million compared to Adjusted Net Income of $ 5.2 million in the prior year period . • • • Operating cash flow for the three months ended December 31 , 2020 was $ 3.3 million compared to operating cash flow of $ 5.7 million for the same period in 2019 . As of December 31 , 2020 , the Company had cash and cash equivalents of $ 22.6 million compared to $ 7.4 million as of December 31 , 2019 . As of December 31 , 2020 , the Company had working capital of $ 26.8 million , compared to $ 1.7 million as of December 31 , 2019 . Fiscal Year 2020 Highlights . Total revenue for the year ended December 31 , 2020 was $ 104.9 million , a decrease of 12 % compared to the same period in 2019. The decrease was attributable to the continued impact COVID - 19 has had on certain industries including travel , leisure and entertainment , which had been very strong contributors in 2019 . • Net revenue or gross profit ( revenue less media costs ) for the year ended December 31 , 2020 was $ 54.1 million compared to $ 57.4 million for the same period in 2019 .