Nexxen International (NEXN) Q3 2025 Earnings
How Did NEXN Stock React to Q3 2025 Earnings?
S&P 500 over the same 30 days: +1.02%.
Did NEXN Beat Earnings? Q3 2025 Results
No. Nexxen International reported Q3 2025 earnings of $0.20 a share on Nov 13, 2025, missing the $0.22 consensus estimate by 8.5%. Revenue was $94.8M against a $92.2M estimate.
Nexxen International delivered a mixed third quarter for fiscal 2025, beating revenue expectations while falling short on the bottom line, with a guidance cut stealing the spotlight from an otherwise solid operational performance. Revenue rose 5.1% year-over-year to $94.79 million, edging past the $92.22 million consensus, but non-IFRS EPS of $0.20 missed the $0.22 estimate by 8.51% as adjusted EBITDA slipped 11% to $28.20 million and IFRS net income fell sharply to $4.21 million from $14.54 million a year ago. The company did set Q3 records in both Contribution ex-TAC, at $92.60 million, and programmatic revenue, at $89.60 million, yet CTV revenue declined 17% to $24.50 million amid competitive pressures. The most consequential disclosure, however, was the lowered full-year outlook, with management now guiding for Contribution ex-TAC of $350 million to $360 million and adjusted EBITDA of $113 million to $117 million, citing unexpectedly reduced Q4 spending from certain third-party DSP partners and softness in non-core business lines, raising questions about whether its connected TV and programmatic growth narrative remains on track.
- Omnichannel growth driving record Q3 Contribution ex-TAC
- Rising enterprise DSP adoption
- Growing demand for data solutions
- Programmatic revenue increased to 94% of total revenue, up from 90% in Q3 2024
- Video revenue represented 70% of programmatic revenue
“We are pleased to have met our expectations for both Q3 and the first nine months of 2025, with performance driven by omnichannel growth, rising enterprise DSP adoption and growing demand for our data solutions. The renewal and expansion of our VIDAA partnership further differentiates Nexxen through exclusive CTV media and data and has enabled the launch of the industry's first solution for programmatic Smart TV home screen activation — unlocking a powerful, high-attention medium for advertisers through scaled OEM media previously inaccessible programmatically. This marks a major advancement for Nexxen and the CTV industry and is already generating strong interest. While we are disappointed with our reduced guidance, we are confident the initiatives underway to enhance our enterprise technology value proposition, strengthen resilience against disruptive trends and leverage our exclusive assets to capitalize on partnership opportunities will help mitigate extended impacts from headwinds affecting the business in Q4. Our conviction in our strategy and long-term growth prospects remains strong, and we believe Nexxen will emerge as a more resilient, strategic platform that industry leaders increasingly rely on in 2026 and beyond.”
Nexxen International CEO, on the earnings call
What Was Nexxen International's Outlook in Q3 2025?
Nexxen lowered its full-year 2025 guidance, now expecting Contribution ex-TAC of $350–$360 million (approximately 3% growth at the midpoint, or 6% excluding political), programmatic revenue representing approximately 95% of full-year revenue (approximately 6% growth at the midpoint, or 9% excluding political), and Adjusted EBITDA of $113–$117 million. The guidance reduction reflects lower-than-expected Q4 activity from certain third-party DSP partners in open and private marketplace channels, with one DSP customer expected to significantly reduce spending year-over-year in Q4 2025 (though this is expected to be isolated to Q4 and not materially affect 2026). The company has also observed lower spending in certain verticals and continued weakness in non-core, non-programmatic business lines. Management is shifting resources toward its DSP and data platform, enhancing CTV capabilities, pursuing new mobile in-app partnerships, and exploring smaller strategic acquisitions to accelerate programmatic revenue growth.
NEXN YoY Financials
| Metric | Q3 2025 | Q3 2024 | Year over year |
|---|---|---|---|
| Revenue | $94.8M | $90.2M | +5.1% |
| Gross Profit | $65.6M | $76.3M | −14.1% |
| Operating Income | $7.3M | $16.3M | −55.3% |
| Net Income | $4.2M | $14.5M | −71.1% |
NEXN Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.