20-F - Nexxen International Ltd. | StockGist

AI Analysis

AI-generated analysis. Always verify with the original filing.

Nexxen International Ltd. (NEXN) reported FY 2025 revenues of $364.8M, a slight 0.2% decline from $365.5M in FY 2024, driven by a 41.1% drop in non-core Performance revenue offset by 5.0% Programmatic growth. Video revenue rose 4.2% to $242.0M (71% of Programmatic), while CTV fell 3.8% to $109.4M amid competitive CPMs, reduced DSP spending from SPO, and absence of 2024 political ads. Operating profit decreased 20.5% to $32.4M, with total comprehensive income down 21.3% to $27.9M (7.6% margin vs. 9.7%). Adjusted EBITDA edged up 0.5% to $115.1M (31.6% margin). Contribution ex-TAC grew 2.8% to $353.1M. Balance sheet strengthened with $133.3M cash (no long-term debt), total assets $756.1M, and equity $474.7M. Cash from operations was $110.1M, financing outflows $117.5M mainly from $101.7M share repurchases. Growth constrained by macro uncertainty, tariffs, and geopolitics, but positioned for CTV/Video expansion via V partnership.

Key Takeaways

1Revenues $364.8M, down 0.2% YoY from $365.5M

2Net profit $25.0M, down 29.3% YoY from $35.4M

3Adjusted EBITDA $115.1M, up 0.5% YoY

4Cash $133.3M, no long-term debt outstanding

5Share repurchases $101.7M during FY 2025

Key Financial Metrics

EPS

$0.42

$0.51 prior year

Revenue

$364.8M

-0.2%

Net Income

$25.0M

-29.3%

Gross Margin

71.0%

70.3% prior year

Gross Profit

$258.9M

+0.7%

Operating Income

$32.4M

-20.5%

operating margin

8.9%

Business Segments

ProgrammaticCore end-to-end platform

$340.6M+5.0% YoY

PerformanceNon-core non-programmatic

$24.2M-41.1% YoY

Video71% of Programmatic revenue

$242.0M+4.2% YoY

CTV32% of Programmatic revenue

$109.4M-3.8% YoY