Monitor Q1 2026 execution closely — if early strength in programmatic and CTV continues, the stock could re-rate on improved sentiment. Watch for adoption metrics on the V and The Trade Desk integration as key growth drivers.
Price Chart
Executive Summary
Nexxen reported mixed Q4 and full-year 2025 results with declining headline financials — revenue down 10% YoY and Adjusted EBITDA down 23% — but provided optimistic 2026 guidance projecting ~8% Contribution ex-TAC and ~10% programmatic revenue growth. Early Q1 2026 performance has exceeded expectations, driven by strength in programmatic and CTV initiatives, including its Smart TV home screen solution and expanded V partnership.
Key Financial Metrics
Key Facts
- Q4 2025 Contribution ex-TAC: $97.8M, down 7% YoY
- Full-year 2025 programmatic revenue: $340.6M, up 5% YoY
- Adjusted EBITDA for 2025: $115.1M, up 1% YoY
- Guidance for 2026: $375–390M Contribution ex-TAC (~8% growth at midpoint), $367–381M programmatic revenue (~10% growth)
- Q1 2026 results to date have exceeded management's initial expectations
- Launched expanded partnership with V and integrated Smart TV home screen ad activation with The Trade Desk’s Ventura Ecosystem
- Repurchased 1.44M shares in Q4 at ~$7.47 avg price; $2M remaining on current buyback, $40M new program approved
Financial Impact
Full-year 2025 revenue flat at $364.8M but down 10% in Q4; 2026 guidance implies modest recovery with $382.5M midpoint revenue equivalent. Adjusted EBITDA margin compressed from 42% to 35% in Q4.
Risk Factors
- Q4 2025 results showed significant declines in CTV (-19% YoY) and Adjusted EBITDA (-23% YoY)
- Contribution ex-TAC retention rate dropped to 92% from 102% in 2024, indicating customer churn pressure
- Forward guidance relies heavily on new product adoption and partnerships, which may not scale as expected
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3249247 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 13, 2026 14d ago | 6-K | $9.06 | awaiting T+20 | — | $8.58 (−5.30%) |
Sep 30, 2026 27d ago | 6-K | $9.00 | awaiting T+20 | — | $8.58 (−4.67%) |
Aug 19, 2026 9w ago | 6-K | $10.05 $8.98 | ▼ −10.65% | ▼ −8.70% | $8.58 (−14.63%) |
Aug 12, 2026 10w ago | 6-K | $10.74 $9.20 | ▼ −14.34% | ▼ −12.44% | $8.58 (−20.11%) |
Aug 12, 2026 10w ago | Press Release | $10.74 $9.20 | ▼ −14.34% | ▼ −12.44% | $8.58 (−20.11%) |
Jun 18, 2026 18w ago | Press Release | $8.60 $10.38 | ▲ +20.70% | ▲ +20.16% | $8.58 (−0.23%) |
Jun 16, 2026 19w ago | Press Release | $8.75 $9.92 | ▲ +13.37% | ▲ +13.17% | $8.58 (−1.94%) |
May 13, 2026 23w ago | 6-K | $7.61 $8.59 | ▲ +12.88% | ▲ +13.49% | $8.58 (+12.75%) |
May 13, 2026 23w ago | Press Release | $7.61 $8.59 | ▲ +12.88% | ▲ +13.49% | $8.58 (+12.75%) |
Apr 29, 2026 25w ago | Press Release | $7.38 $8.46 | ▲ +14.63% | ▲ +8.59% | $8.58 (+16.26%) |
US Market Status
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