Financial Data and Key Metrics Changes - In Q1, the company generated contribution ex TAC of $75 million, representing an 8% year-over-year growth [17] - Programmatic revenue reached a Q1 record of $71.8 million, reflecting a 10% increase compared to Q1 2024 [17] - Adjusted EBITDA was $23.1 million, a 95% increase from Q1 2024, with an adjusted EBITDA margin increasing to 31% from 17% [19] - Non-IFRS diluted earnings per share were $0.16 in Q1 2025 compared to $0.02 in Q1 2024 [20] - The company reported $19.3 million in net cash from operating activities, down from $37.7 million in Q1 2024 [20] Business Line Data and Key Metrics Changes - CTV revenue reached a record $26.4 million, reflecting 40% year-over-year growth and accounting for 37% of programmatic revenue, up from 29% in Q1 2024 [18] - Self-service contribution ex TAC grew by 32%, while PMP revenue rose by 12% year-over-year [19] - Contribution ex TAC from display decreased by 22%, largely due to declines in non-core, non-programmatic business lines [19] Market Data and Key Metrics Changes - The company is well-positioned to capitalize on the shift of advertising budgets from linear TV to CTV, supported by growing relationships with leading CTV advertisers and streaming platforms [11][12] - The company added 101 new actively spending first-time advertising customers in Q1, including 15 new enterprise self-service customers [14] Company Strategy and Development Direction - The company emphasizes a unified end-to-end platform that enhances simplicity, control, and efficiency, leveraging proprietary data and AI capabilities [7][8] - The launch of NextAI is seen as a transformational step, enhancing the advertising journey through generative AI and machine learning [9][10] - The company aims to expand its self-service footprint and focus on larger customers to improve contribution ex TAC durability [25] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving full-year guidance despite macroeconomic uncertainties, citing ongoing spend consolidation and sustained CTV revenue strength [23][24] - The company remains cautious about potential impacts from macroeconomic shocks or policy shifts but believes it is more resilient to volatility than in the past [25][26] - The recent Google AdTech antitrust case verdict could benefit the company by creating a more level playing field for independent platforms [26] Other Important Information - The company has no long-term debt and plans to continue allocating capital to share repurchases, having repurchased approximately 29.2% of outstanding shares since initiating buyback programs [20][22] - The company is committed to building on its momentum through active investor engagement and upcoming events [15][28] Q&A Session Summary Question: Can you elaborate on the macro comments and specific verticals showing strength or weakness? - Management noted some softness in April but emphasized diversification across verticals, which mitigates risks [34] Question: Is the guidance conservative due to macro conditions or related to AI investments? - Management indicated that the adjusted EBITDA beat was due to several factors, including top-line growth and better utilization, while maintaining caution regarding yearly guidance [35] Question: What feedback are you receiving from customers unfamiliar with Nexon? - Management highlighted improved messaging and the rising importance of data as key factors in attracting new customers [40] Question: Will there be incremental investments to take advantage of the Google outcome? - Management stated that no extra investment is needed, as growth can be achieved with current resources [44] Question: Can you provide more detail on CTV segment growth versus platform improvements? - Management anticipates reaching around 40% CTV revenues out of programmatic revenue, while remaining cautious about external factors [49] Question: What partnerships are driving growth? - Management emphasized diversification across partners and verticals, indicating resilience against reliance on any single partner [71] Question: What percentage of DSP buys go through your SSP? - Management indicated that approximately 50% of DSP buys are facilitated through their exchange, with potential for growth [74]