Tremor International .(US:TRMR)2025-03-05 12:45Financial Performance - Achieved all-time quarterly Contribution ex-TAC of $105.2 million, up 16% year-over-year[5] - Recorded all-time quarterly programmatic revenue of $98.7 million, up 15% year-over-year[5] - Generated all-time quarterly CTV revenue of $37.0 million, up 86% year-over-year[5] - Total revenues for 2024 increased to $365,477 thousand, up 10.5% from $331,993 thousand in 2023[29] - Revenue for Q4 2024 reached $112,284 thousand, representing a 17% growth from $95,916 thousand in Q4 2023[23] - Contribution ex-TAC for Q4 2024 was $105,162 thousand, reflecting a 16% increase from $90,524 thousand in Q4 2023[23] - Full year 2024 Contribution ex-TAC reached $343.5 million, up 9% year-over-year[5] - Full year 2024 programmatic revenue totaled $324.5 million, also up 9% year-over-year[5] Profitability Metrics - Attained Adjusted EBITDA of $44.3 million in Q4 2024, reflecting a 38% year-over-year growth and a 42% Adjusted EBITDA Margin on a Contribution ex-TAC basis[5] - Adjusted EBITDA for Q4 2024 was $44,269 thousand, up 38% from $32,042 thousand in Q4 2023[23] - Non-IFRS net income for Q4 2024 was $32,355 thousand, a 124% increase from $14,458 thousand in Q4 2023[24] - Operating profit for 2024 was $40,821 thousand, a significant recovery from an operating loss of $16,976 thousand in 2023[29] - The company reported a net income of $24,854 thousand for Q4 2024, a 670% increase from $3,227 thousand in Q4 2023[24] - Basic earnings per share improved to $0.51 in 2024, compared to a loss of $0.30 in 2023[29] Future Outlook - Management expects full year 2025 Contribution ex-TAC to be approximately $380 million[9] - The company expects continued growth in CTV revenue and data licensing revenue, positioning itself for accelerated growth in 2025 and beyond[17] - The anticipated impact of the Generative AI initiative is expected to contribute positively to the company's growth[17] - The company plans to enhance its investments in technology, data, and Generative AI in 2025 to attract higher customer spending[9] Shareholder Actions - Nexxen's Board approved a new $50 million Ordinary Share repurchase program following the completion of the current program[11] - The company plans to utilize its cash reserves for ongoing and future share repurchase programs[17] - The company acquired own shares worth $60,735 thousand in 2024, significantly higher than $9,518 thousand in 2023[33] Operational Efficiency - Net cash provided by operating activities reached $150,835 thousand, compared to $60,741 thousand in 2023, indicating improved operational efficiency[33] - Total assets decreased to $840,513 thousand in 2024, down from $904,803 thousand in 2023, reflecting a reduction in cash and cash equivalents[28] - Total liabilities decreased to $309,659 thousand in 2024, down from $361,255 thousand in 2023, primarily due to a reduction in long-term debt[28] - Shareholders' equity as of December 31, 2024, was $530,854 thousand, a slight decrease from $543,548 thousand in 2023[28] Investment in Innovation - Research and development expenses for 2024 were $49,992 thousand, slightly up from $49,684 thousand in 2023, indicating continued investment in innovation[29] - In Q4 2024, Nexxen onboarded 112 new actively spending first-time advertiser customers[12]