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Investing.com -- Nexxen International Ltd. (NASDAQ:NEXN) reported better-than-expected first quarter results on Tuesday, driven by strong growth in connected TV (CTV) revenue. The advertising technology company’s shares rose 3.3% following the earnings release.
Nexxen posted adjusted earnings per share of $0.16 for the first quarter, beating analyst estimates of $0.07. Revenue came in at $78.33 million, surpassing the consensus forecast of $73.2 million and representing a 5% YoY increase.
The company’s CTV revenue jumped 40% YoY to $26.4 million, accounting for 37% of programmatic revenue compared to 29% in the same quarter last year. Overall programmatic revenue grew 10% to $71.8 million.
"Our momentum continued in Q1 fueling record results driven by CTV, alongside significant Adjusted EBITDA growth," said CEO Ofer Druker. He added that the results reflect "the payoff from years of investment in our technology, data capabilities and brand."
Adjusted EBITDA nearly doubled to $23.1 million, up 95% YoY. The adjusted EBITDA margin expanded to 31% from 17% a year ago.
Nexxen reaffirmed its full-year 2025 guidance, projecting contribution ex-TAC of approximately $380 million and adjusted EBITDA of about $125 million. The company noted some softness in Q2 advertising amid economic uncertainty but remains confident in its full-year outlook barring significant macro deterioration.
The ad tech firm completed a $50 million share repurchase program and launched a new $50 million buyback initiative in April. Nexxen ended the quarter with $164.7 million in cash and no long-term debt.
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