Nexxen International-Nexxen Reports Fourth Quarter and Full Year 2024 Financial Results

Core Insights - Nexxen International Ltd. achieved all-time quarterly records in Contribution ex-TAC, programmatic revenue, and CTV revenue in Q4 2024, with year-over-year growth rates of 16%, 15%, and 86% respectively [1][5] - The company reported a 38% year-over-year growth in Adjusted EBITDA for Q4 2024, increasing the Adjusted EBITDA Margin on Contribution ex-TAC to 42% from 35% [1][5] - Nexxen's Board of Directors approved a new $50 million Ordinary Share repurchase program following the completion of the ongoing program [1][11] Q4 2024 Financial Highlights - Contribution ex-TAC reached$ 105.2 million, a 16% increase from Q4 2023 [5][12] - Programmatic revenue was $98.7 million, reflecting a 15% year-over-year growth [5][12] - CTV revenue hit$ 37.0 million, marking an 86% increase year-over-year [5][12] - Adjusted EBITDA for Q4 2024 was $44.3 million, up 38% from the previous year [5][12] - The company had cash and cash equivalents of$ 187.1 million as of December 31, 2024, with no long-term debt [5][12] Full Year 2024 Financial Highlights - Total revenue for 2024 was $365.5 million, a 10% increase from 2023 [5][12] - Annual Contribution ex-TAC was$ 343.5 million, up 9% year-over-year [5][12] - Annual programmatic revenue reached $324.5 million, also a 9% increase [5][12] - CTV revenue for the full year was$ 113.8 million, reflecting a 33% increase from 2023 [5][12] - Adjusted EBITDA for the full year was $114.6 million, a 38% increase compared to 2023 [5][12] Operational Highlights - The company simplified its trading structure by transitioning to a single U.S. Ordinary Share listing on Nasdaq [1][9] - Nexxen's DSP added 112 new actively spending first-time advertiser customers in Q4 2024 [9][6] - The company onboarded 73 new supply partners across various verticals in Q4 2024 [9][6] - Nexxen launched a Deal Marketplace within its DSP to enhance campaign planning and execution [9][6] Financial Guidance for 2025 - Nexxen anticipates Contribution ex-TAC of approximately$ 380 million for the full year 2025 [9] - Programmatic revenue is expected to represent about 90% of total revenue in 2025 [9] - Adjusted EBITDA is projected to be around $125 million for 2025 [9] - The company plans to increase investments in technology, data, and Generative AI in 2025 [9]