TSX Shariah screener · October 2026
Is illumin Holdings Inc. (ILLM) Halal?
illumin Holdings Inc. · TSX: ILLM · Technology
The short answer
No — illumin Holdings (ILLM) fails this Shariah stock screen on the cash gate. Its digital advertising business (the illumin demand-side platform) is permissible and debt is low, but cash of C$33.682M at June 30, 2026 is about 98.7% of its C$34.11M market cap — far over the ~33% ceiling. (Nasdaq-delisted September 2023; the TSX listing is the active one.) No Zoya, Musaffa, or ShariaPortfolio rating was found for this ticker — honestly reported as absent, not invented.
Gate 1 — Business activity: PASS
illumin Holdings Inc. (TSX:ILLM) is a digital advertising company (the illumin demand-side platform); formerly AcuityAds, renamed June 2023. Its Nasdaq listing was voluntarily delisted in September 2023 — the TSX listing is the active one. No alcohol, pork, gambling, conventional interest-based lending, tobacco, cannabis, weapons, or adult-entertainment lines were disclosed. Gate 1 passes. Facts only.
Gate 2 — Debt and cash: PASS
Debt is only lease obligations of C$4.403M — about 12.9% of the C$34.11M market cap (C$0.65, October 1, 2026), under the ~33% ceiling. Gate 2 passes. Facts only.
Gate 3 — Non-compliant income: FAIL (cash gate)
Cash of C$33.682M at June 30, 2026 — about 98.7% of the C$34.11M market cap — far over the ~33% cash-and-securities ceiling. This gate fails, and it is decisive. Q2 2026 revenue was C$50.207M; interest income has no separate income-statement line (the cash-flow statement shows 'Interest received, net' of C$762K for 6 months), which is moot given the cash-gate failure. Facts only.
Key figures used
- Cash: C$33.682M at Jun 30, 2026 ≈ 98.7% of market cap — FAIL vs ~33%
- Market cap: ~C$34.11M (C$0.65, Oct 1, 2026)
- Debt: lease obligations C$4.403M only ≈ 12.9% of market cap — PASS
- Q2 2026 revenue: C$50.207M; interest income has no separate income-statement line — moot
- Formerly AcuityAds (renamed Jun 2023); Nasdaq-delisted Sep 2023, TSX-only since — no haram segments
Frequently asked questions
Is illumin Holdings (ILLM) halal?
No. illumin Holdings fails this Shariah stock screen on the cash gate. Its digital advertising business (the illumin demand-side platform) is permissible and debt is low, but cash of C$33.682M at June 30, 2026 is about 98.7% of its C$34.11M market cap — far over the ~33% ceiling. (Nasdaq-delisted September 2023; the TSX listing is the active one.) This is a factual screen, not a religious ruling — consult a qualified scholar for personal guidance.
What is illumin Holdings' cash-to-market-cap ratio?
About 98.7%. Cash of C$33.682M at June 30, 2026, against a market cap of roughly C$34.11M (C$0.65, October 1, 2026) — far over the ~33% ceiling.
What does illumin Holdings do?
illumin Holdings Inc. (TSX:ILLM) is a digital advertising company (the illumin demand-side platform); formerly AcuityAds, renamed June 2023. Its Nasdaq listing was voluntarily delisted in September 2023 — the TSX listing is the active one.
What is illumin Holdings' debt-to-market-cap ratio?
About 12.9%. Debt is only lease obligations of C$4.403M, against a market cap of roughly C$34.11M — under the ~33% ceiling.
Where can I find more technology stock screeners?
See halal-stock-verdicts.html for the full list of stock screeners, including the other technology-sector entries.
Sources
- illumin Holdings — Q2 2026 interim filing (filed Aug 6, 2026): C$33.682M cash; C$4.403M lease obligations; C$50.207M revenue
- Finnhub — ILLM.TO quote (C$0.65, Oct 1, 2026)
Screened 2026-10-01 from published company figures and market data. Figures change; this page is educational, not financial advice and not a religious ruling.