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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.
EPS
$0.42
Revenue
$364.8M
Net Income
$25.0M
Gross Margin
71.0%
Gross Profit
$258.9M
Operating Income
$32.4M
operating margin
8.9%