Financial Data and Key Metrics Changes - For Q4 2025, the company reported Contribution ex-TAC of $97.8 million, reflecting a 7% year-over-year decrease or a 1% decrease excluding political revenue [19] - Programmatic revenue was $94.3 million, down 4% year-over-year but up 2% excluding political revenue [19] - Adjusted EBITDA for Q4 was $33.9 million, representing a 35% margin as a percentage of Contribution ex-TAC [22] - Non-IFRS diluted earnings per share was $0.33 in Q4 compared to $0.48 in Q4 2024 [23] - For the full year 2026, the company expects Contribution ex-TAC in the range of $375 million-$390 million, representing over 8% year-over-year growth at the midpoint [26] Business Line Data and Key Metrics Changes - Contribution ex-TAC from the non-programmatic business line declined by approximately $3 million year-over-year [20] - CTV revenue declined 19% year-over-year in Q4 to $30.1 million, but the company expects CTV to represent a core long-term growth engine [21] - Desktop video revenue increased 21% year-over-year, while mobile video revenue declined 9% [20] - Contribution ex-TAC from data products increased 51% year-over-year [20] Market Data and Key Metrics Changes - The company noted that over 80% of mobile ad spend occurred in apps in 2025, with mobile expected to account for over two-thirds of total digital ad spend by 2027 [11] - The company is focusing on expanding its partnerships in the mobile in-app ecosystem to support long-term growth and revenue durability [11] Company Strategy and Development Direction - The company plans to continue investing in enterprise solutions and has doubled its enterprise customer base in 2025 [7] - The launch of a programmatic Smart TV on-screen advertising solution is expected to create a new growth channel for advertisers [8] - The company is focusing on building relationships with leading DSPs and enhancing its data capabilities to drive enterprise adoption [11] - The company aims to capitalize on major advertising events in 2026, including the FIFA World Cup and US midterm elections [30] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to expand margins over time through Contribution ex-TAC growth and disciplined cost management [22] - The company is optimistic about the early momentum in 2026, driven by strong January and February results [5][27] - Management highlighted the importance of AI integration and infrastructure investments made in 2025 to support long-term growth [14][28] Other Important Information - The company repurchased 1.44 million shares in Q4, investing approximately $10.8 million [23] - The company plans to invest an additional $50 million in its partnership with V in Q3 2026, expecting to hold a 6% equity stake [24][25] Q&A Session Summary Question: Can you provide more details on how AI is reshaping the open internet and its impact on 2025 results? - Management noted that browsing is decreasing as users turn to AI for answers, prompting a shift towards CTV and in-app mobile, which are less affected by AI [34][35] Question: What is the current revenue stream for data and how does it contribute to growth? - Management indicated that data is integrated into over 80% of campaigns, enhancing media spend and generating high-margin revenue [52] Question: What portion of growth is expected from political advertising in 2026? - Management stated that political advertising is not a major focus for growth projections but has seen success in previous cycles due to strong segmentation tools [93]

Nexxen International (NasdaqGM:NEXN) Q4 2025 Earnings call March 04, 2026 09:00 AM ET Company ParticipantsAndrew Marok - Director of InternetBilly Eckert - VP of Investor RelationsMaria Ripps - Managing Director in Equity ResearchOfer Druker - CEO and Executive DirectorSagi Niri - CFOConference Call ParticipantsBarton Crockett - Managing Director and Senior Research AnalystJason Kreyer - Senior Research AnalystLaura Martin - Senior AnalystMatthew Swanson - Software AnalystOperatorWelcome to Nexxen's Fourth ...

Nexxen International (NasdaqGM:NEXN) Q4 2025 Earnings call March 04, 2026 09:00 AM ET Speaker8Welcome to Nexxen's fourth quarter earnings call. At this time, participants are in a listen-only mode with a question and answer session to follow at the end of the presentation. This call is being recorded, and a replay of today's call will be made available on Nexxen Investor Relations website. I will now hand the call over to Billy Eckert, Vice President of Investor Relations, for introductions and the reading ...