illumin Holdings reported a larger-than-expected quarterly loss, despite year-over-year revenue growth and expansion in its advertising exchange.
illumin Holdings Inc. (TSX: ILLM) reported results for the third quarter ended September 30, 2026. Calendar EPS was negative C$0.0286, compared with an estimate of negative C$0.02, a 43% miss. Revenue rose 12% year over year to C$42.7 million, and adjusted EBITDA was C$1.1 million. For Canadian investors, the key question is whether revenue growth and exchange momentum can lead to more consistent profits.
Recent earnings trend
illumin Holdings Inc.
ILLM.TO
ILLM.TO
illumin Holdings Inc.
WealthAwesomeMarket cap
$27.82M
52W high
$1.13
52W low
$0.53
1W change
-11.67%
Beta
1.17
Analyst Price Targets
Based on analyst covering ILLM · as of Sep 17, 2026
Wall Street analysts forecast ILLM stock price to rise 149.1% over the next 12 months.
Consensus
BullishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$1.32
+149.1% Upside
Current Price
C$0.53
Last close
Targets are snapshotted when they change. Unchanged figures keep their original date. Not financial advice.
Wealth Awesome Price Forecast
WA ModelStatistical 90-day price range based on ILLM's historical volatility
30-Day Vol
68.1%
Annualized
90-Day Vol
78.5%
Annualized
Trend (90d)
-50.0%
Annualized drift
90d Mean
C$0.44
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$0.50 | C$0.39 – C$0.63 |
| 60 trading days | C$0.47 | C$0.34 – C$0.66 |
| 90 trading days | C$0.44 | C$0.30 – C$0.67 |
Methodology: Range is calculated using 30-day realized volatility via geometric Brownian motion (log-normal model). 68% band = ±1σ, 95% band = ±2σ. This is a statistical model, not a prediction. Past volatility does not guarantee future results. Not financial advice.
Analyst coverage: 1 analyst(s) cover this name; upcoming EPS consensus is available.
Beat estimates in 2 of the last 4 comparable quarter(s).
| Fiscal period | Report date | Actual EPS | Estimate | Surprise |
|---|---|---|---|---|
| 2026-09-30 | 2026-11-05 | -0.0286 | -0.0200 | -43.0% |
| 2026-06-30 | 2026-08-06 | 0.0200 | -0.0800 | +125.0% |
| 2026-03-31 | 2026-05-08 | -0.0600 | -0.0700 | +14.3% |
| 2025-12-31 | 2026-03-13 | -0.0900 | 0.0200 | -550.0% |
| 2025-09-30 | 2025-11-07 | -0.0400 | 0.0100 | -500.0% |
| 2025-06-30 | 2025-08-07 | -0.1100 | -0.0200 | -450.0% |
Investor takeaway: Revenue grew and beat the calendar consensus of C$39.41 million, but EPS fell short of expectations. The company reported a net loss of C$1.8 million and cash of C$30.3 million. ILLM has beaten EPS estimates in two of its last four comparable quarters, so the latest result adds to a mixed earnings record. Visit the ILLM stock page for company and share information.
C$42.7 million in third-quarter revenue
Revenue increased 12% year over year and topped the C$39.41 million calendar consensus. But calendar EPS of negative C$0.0286 missed the negative C$0.02 estimate by 43%, highlighting the gap between sales growth and per-share profitability.
Bull case
Revenue growth is a positive sign. Third-quarter revenue rose 12% year over year, while Exchange revenue increased 24% to C$25.5 million, according to the company. Adjusted EBITDA was C$1.1 million. The question is whether this growth can lead to stronger earnings over time. Analyst price targets are well above the recent close, but they are estimates, not guarantees.
Bear case
The EPS miss and net loss show that revenue growth has not yet delivered consistent profits. ILLM’s trailing EPS was negative C$0.19, and its profit margin was negative 5.75%. The shares closed at C$0.53, below their 50-day and 200-day moving averages and at the reported 52-week low. These figures point to significant execution and share-price risks.
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