Nexxen International NEXN Q3 2026: CTV Surge Powers a Double Beat

Nexxen International reported Q3 2026 revenue of $102.9 million, beating the $100.7 million consensus estimate by 2.23%, while adjusted non-GAAP EPS of $0.32 cleared the $0.30 analyst forecast by 6.21%. The quarter marked the continuation of a strong beat streak: going back to Q4 2024, Nexxen has topped EPS expectations in six of the past eight quarters, with only Q3 2025 and Q1 2026 falling short.

The standout number inside the report was connected television revenue, which surged 39% year over year to $34.1 million. CTV expanded its share of programmatic revenue from 27% a year earlier to 35%, signaling that the format is becoming an increasingly structural rather than opportunistic part of the business. Programmatic revenue overall rose 9% to $97.8 million, and enterprise customers using the Nexxen DSP on a self-service or platform-managed basis generated over 40% Contribution ex-TAC growth year over year.

Profitability improved sharply alongside the top-line growth. Adjusted EBITDA climbed 22% to $34.5 million at a 34% margin, while operating income rose 74.8% year over year and net income nearly tripled, up 147.88%. Cash and equivalents stood at $152.9 million, up 31% from a year earlier, giving the company financial flexibility heading into what management projects will be a record quarter.

CEO Ofer Druker said October was preliminarily the company's best top-line month ever, and management expects Q4 to be an all-time record quarter for Contribution ex-TAC, programmatic revenue, and CTV revenue. Full-year 2026 guidance was reaffirmed, calling for Contribution ex-TAC of $388 million to $402 million and Adjusted EBITDA of $122 million to $132 million, figures that had already been raised three times earlier in the year.

Nexxen also announced it expects to resume share repurchases in the second half of Q4 2026, under a program authorized for up to $40 million. Since March 2022, the company has repurchased approximately 30.9 million shares, representing roughly 39.9% of shares outstanding, for about $265.3 million. The combination of a record-month signal from management and a resuming buyback gives investors two near-term catalysts to monitor as Q4 results take shape.