Nexxen International (NEXN) Company Report

Analyst Coverage

Research analysts who have asked questions during Nexxen International earnings calls.

Andrew Marok

Raymond James Financial

7 questions for NEXN

Also covers: BMBL, DSP, DV +10 more

Matthew Condon

Not Specified in Transcript

6 questions for NEXN

Also covers: ANGI, CTV, DSP +12 more

Barton Crockett

Rosenblatt Securities

5 questions for NEXN

Also covers: BATRA, DSP, EEX +14 more

Jason Kreyer

Craig-Hallum Capital Group LLC

5 questions for NEXN

Also covers: CDLX, CREX, DSP +15 more

Laura Martin

Needham & Company, LLC

5 questions for NEXN

Also covers: CTV, CURI, DSP +10 more

Matthew Swanson

RBC Capital Markets

5 questions for NEXN

Also covers: ADBE, DV, IBM +7 more

Maria Ripps

Morgan Stanley

3 questions for NEXN

Also covers: BARK, DSP, DV +13 more

Nathaniel Schindler

Scotiabank

3 questions for NEXN

Also covers: APP, DSP

Matt Condon

Citizens Financial Group, Inc.

2 questions for NEXN

Also covers: IAC

Matt Owen

Canaccord Genuity

2 questions for NEXN

Tyler DiMatteo

BTIG, LLC

2 questions for NEXN

Also covers: BLBD, CLSK, CORZ +3 more

Laura Martin

Needham & Company

1 question for NEXN

Also covers: CTV, FUBO, OB

Latest news

Recent press releases and 8-K filings for NEXN.

Nexxen Discusses Q4 Outlook, VIDAA Partnership, and Capital Allocation

NEXN

New Projects/Investments

Share Buyback

Guidance Update

Nexxen highlights its end-to-end platform as a key differentiator, enabling more efficient transactions and better performance for both advertisers and publishers in the digital advertising ecosystem.
Despite some Q4 macro uncertainties and softness in certain verticals like retail, Nexxen observes an increase in other verticals, leading to an overall healthier position. The company also experienced a short-term setback from a particular DSP customer in October/November, which impacted its full year/Q4 guide, but is now seeing a rebound.
The company views CTV market volatility and declining CPMs as an opportunity, driven by the shift towards programmatic transactions and its exclusive partnership with VIDAA for ACR data and home screen inventory.
Nexxen has invested $60 million in VIDAA, becoming its second-largest shareholder, with plans to expand its footprint in the US and Canada and leverage exclusive data and media assets for growth in 2026 and beyond.
Nexxen plans to continue its share repurchase program with a new $40 million authorization and will make an additional $15 million investment in VIDAA in Q3 2026.

Dec 9, 2025, 1:40 PM

Transcript

Nexxen Discusses Strategic Investments, Market Dynamics, and 2026 Outlook

NEXN

New Projects/Investments

Share Buyback

Demand Weakening

Nexxen operates an end-to-end platform that integrates both the buy and sell sides of digital advertising, which helps the company navigate macroeconomic uncertainties, such as softness in certain verticals like retail due to tariffs, by enabling higher margins and efficient media access.
The company has a strategic $60 million investment in VIDAA, securing exclusive access to ACR data through 2029 and programmatic smart TV home screen inventory, which is anticipated to accelerate business growth in 2026.
Nexxen is making significant investments in AI to enhance its data platform, improve performance for customers, and drive internal efficiencies, which is expected to benefit EBITDA and potentially reduce future hiring needs.
Regarding capital allocation, Nexxen is completing a $20 million share repurchase program and plans to launch a new $40 million program, viewing its current valuation at approximately 3x EBITDA as a compelling buying opportunity. The company also expressed interest in mobile in-app M&A to further future-proof its business.

Dec 9, 2025, 1:40 PM

Transcript

Nexxen Discusses Q4 Trends, VIDAA Partnership, and Capital Allocation

NEXN

Demand Weakening

New Projects/Investments

Share Buyback

Nexxen's end-to-end platform helps manage macroeconomic uncertainty, offsetting softness in certain verticals like retail (due to tariffs) with higher margins and efficient media access for advertisers.
The company is experiencing a rebound in DSP spend following short-term headwinds in October and November, establishing a new baseline with low future risk.
Nexxen has a strategic partnership with VIDAA, involving a $60 million commitment (including a recent $35 million increase, with $20 million deployed in Q3 and $15 million planned for Q3 2026), providing exclusive access to ACR data and programmatic smart TV home screen inventory.
Capital allocation priorities include a new $40 million share repurchase program and strategic investments in AI and potential mobile in-app M&A, noting the company's current valuation at approximately 3x EBITDA compared to peers.

Dec 9, 2025, 1:40 PM

Transcript

Nexxen International Reports Q3 2025 Results and Lowers Full-Year Guidance

NEXN

Guidance Update

Earnings

New Projects/Investments

Nexxen International reported a Q3 2025 record contribution ex-TAC of $92.6 million, an 8% increase year-over-year, and programmatic revenue of $89.6 million, up 10% year-over-year. Adjusted EBITDA for the quarter was $28.6 million, representing a 30% adjusted EBITDA margin.
The company lowered its full-year 2025 guidance, now expecting contribution ex-TAC in the range of $350-$360 million and adjusted EBITDA between $113-$117 million. This revision is attributed to near-term headwinds, including softness in select channels, a shift in a leading DSP customer's SPO strategy, and competitive CTV CPMs.
Key strategic developments include the renewal and expansion of the VIDAA partnership through 2029, which provides exclusive global access to ACR data and third-party ad monetization exclusivity on North American media. Nexxen also launched the industry's first solution for programmatic smart TV on-screen activation.
Nexxen continues to invest in its omnichannel DSP, proprietary data assets like Nexxen Discovery, and AI integration (NexxAI), which are driving enterprise DSP adoption and strengthening end-to-end revenue opportunities. The company aims for lower double-digit programmatic activity growth in 2026.

Nov 13, 2025, 2:00 PM

Transcript

Nexxen Reports Q3 2025 Results and Lowers Full-Year Guidance

NEXN

Earnings

Guidance Update

Product Launch

Nexxen reported Q3 2025 contribution ex-TAC of $92.6 million, an 8% year-over-year increase, and programmatic revenue of $89.6 million, up 10% year-over-year.
The company lowered its full year 2025 guidance, now projecting contribution ex-TAC between $350-$360 million and adjusted EBITDA of $113-$117 million, primarily due to lower-than-expected Q4 activity from a major DSP partner and increased CTV CPM competition.
Strategic initiatives include the renewal and expansion of the VIDAA partnership through 2029, granting exclusive global ACR data access and North American ad monetization, and the launch of the industry's first programmatic smart TV on-stream activation solution.
Despite a 17% year-over-year decline in Q3 2025 CTV revenue, Nexxen is focusing on its omnichannel DSP, proprietary data assets like Nexxen Discovery, and new mobile in-app partnerships to drive enterprise adoption and long-term growth.

Nov 13, 2025, 2:00 PM

Transcript

Nexxen Reports Q3 2025 Results and Lowers Full-Year Guidance

NEXN

Earnings

Guidance Update

Demand Weakening

Nexxen reported Q3 2025 financial results, with contribution ex-TAC reaching $92.6 million (an 8% increase year-over-year) and programmatic revenue at $89.6 million (up 10% year-over-year). Adjusted EBITDA was $28.6 million, and non-IFRS diluted earnings per share were $0.20.
The company lowered its full-year 2025 guidance, now expecting contribution ex-TAC in the range of $350 million-$360 million and Adjusted EBITDA between $113 million-$117 million.
This revised guidance is due to near-term headwinds in Q4 2025, including lower-than-expected activity from certain third-party DSP partners, a shift in a leading DSP customer's SPO strategy, more competitive CTV CPMs, and macro softness.
Strategically, Nexxen renewed and expanded its VIDAA partnership through 2029, gaining exclusive global ACR data and North American ad monetization exclusivity, and launched the industry's first solution for programmatic smart TV on-screen activation. The company also repurchased approximately 1.8 million shares for $18.1 million in Q3 2025.

Nov 13, 2025, 2:00 PM

Transcript

Nexxen Reports Q3 2025 Financial Results and Updates Full Year Guidance

NEXN

Earnings

Guidance Update

Share Buyback

Nexxen reported Q3 2025 financial highlights, including $28.2 million in Adjusted EBITDA and $0.20 Non-IFRS Diluted EPS.
The company achieved 8% year-over-year Contribution ex-TAC growth (or 14% excluding political advertising) and 10% year-over-year programmatic revenue growth (or 15% excluding political advertising) in Q3 2025.
Nexxen updated its Full Year 2025 guidance, projecting Contribution ex-TAC between $350 million and $360 million and Adjusted EBITDA between $113 million and $117 million.
Capital allocation included repurchasing approximately 1.8 million shares in Q3 2025, completing a $50 million share repurchase program, and launching a new $20 million program.
The company launched a first-to-market programmatic Smart TV home screen ad activation solution and is focusing resources on its DSP, data platform, and nexAl for greater enterprise adoption.

Nov 13, 2025, 2:00 PM

Presentation

Tremor International (Nexxen) Reports Q3 2023 Financial Results and Announces New Share Repurchase Program

NEXN

Earnings

Guidance Update

Share Buyback

Tremor International, operating as Nexxen, reported Q3 2023 Contribution ex-TAC of $76.6 million, an 18% year-over-year increase, and Programmatic Revenue of $74.2 million, up 23% year-over-year.
The company's Adjusted EBITDA for Q3 2023 was $21.3 million, with a 28% Adjusted EBITDA Margin.
Nexxen provided Full Year 2023 financial guidance, expecting Contribution ex-TAC between ~$310-315 million and Adjusted EBITDA between ~$80-85 million.
As of September 30, 2023, the company held a net cash balance of $98.9 million and reported Non-IFRS Diluted EPS of $0.09 for Q3 2023.
The company intends to launch a new $20 million ordinary share repurchase program, to be financed through existing cash resources.

Nov 13, 2025, 2:00 PM

Presentation

Nexxen Reports Third Quarter 2025 Financial Results and Lowers Full Year Guidance

NEXN

Earnings

Guidance Update

Demand Weakening

Nexxen International Ltd. reported record Q3 2025 Contribution ex-TAC of $92.6 million, an 8% year-over-year increase, and Adjusted EBITDA of $28.2 million, an 11% year-over-year decrease.
The company lowered its full year 2025 financial guidance, now projecting Contribution ex-TAC between $350 million and $360 million and Adjusted EBITDA between $113 million and $117 million. This revision is due to lower-than-expected activity from certain third-party DSP partners and weakness in non-core, non-programmatic business lines in Q4 2025.
Nexxen renewed and expanded its strategic ACR data and ad monetization partnership with VIDAA, including an additional $35 million investment. The company also completed a $50 million Ordinary Share repurchase program and launched a new $20 million program during Q3 2025, with $116.7 million in cash and cash equivalents as of September 30, 2025.

Nov 13, 2025, 1:45 PM

6-K

Nexxen outlines strategic vision, strong FY 2024 results, and 2025 outlook at Investor Day

NEXN

Guidance Update

Product Launch

Share Buyback

Nexxen presented its strategic vision as an end-to-end AdTech platform focused on programmatic video, CTV, and omnichannel advertising, highlighting its unified data- and AI-driven suite and recent nexAl launches.
The company reported robust FY 2024 financial results, including +33% CTV Revenue Growth ($113.8 M), +9% Contribution ex-TAC Growth ($343.5 M), and +38% Adjusted EBITDA Growth ($114.6 M).
Nexxen projects Contribution ex-TAC of $380.0 M for FY 2025 and set medium-term financial goals including a ~10% Contribution ex-TAC CAGR and an Adjusted EBITDA Margin of ~40%.
As of March 31, 2025, Nexxen held $164.7 M in cash and plans to invest at least $88M in share repurchase programs in 2025, contributing to a total of at least $245M from 2022-2025.
The company signed a non-binding Memorandum of Understanding (MOU) with VIDAA to potentially extend their partnership beyond 2026 and further invest in expanding VIDAA's smart TV footprint in the U.S..