Nexxen International Ltd
Q1 2026 Earnings
Market Reaction
S&P 500 over the same 30 days: +1.69%.
Did NEXN Beat Earnings? Q1 2026 Results
Nexxen International delivered a mixed but largely encouraging first quarter for 2026, posting revenue of $86.84 million, up 11% year-over-year, and non-IFRS diluted EPS of $0.06, while the company characterized results as ahead of consensus estimates. The headline growth, however, masked a meaningful profitability squeeze: IFRS operating loss widened to $4.86 million from operating profit of $3.45 million a year ago, and adjusted EBITDA fell 30% to $16.27 million, as deliberate investment in AI infrastructure, CTV, and mobile in-app capabilities drove expenses sharply higher. Programmatic business, now representing 94% of total revenue, continued to lead the way, with CTV revenue climbing 12% to $29.40 million and a Unity SDK integration accelerating mobile in-app momentum. The spending-heavy quarter has drawn investor attention to whether margin recovery can materialize, though Nexxen moved to reassure markets by raising its full-year 2026 Contribution ex-TAC guidance to $382 million to $397 million while reaffirming adjusted EBITDA guidance of $122 million to $132 million, noting that quarter-to-date Q2 results have already exceeded initial expectations.
- Programmatic revenue growth of 14% YoY driven by accelerating enterprise adoption and end-to-end platform utilization
- CTV revenue growth of 12% YoY supported by Nexxen TV Home Screen adoption across major DSPs and CTV OEMs
- Programmatic revenue mix increased to 94% of total revenue from 92% in Q1 2025
- Revenue mix shift with video representing 65% of programmatic revenue vs 75% in Q1 2025, indicating diversification
“We delivered a strong start to 2026, with record Q1 results ahead of consensus estimates and continued strength to this point in Q2, enabling us to raise our full-year Contribution ex-TAC and programmatic revenue guidance. The strategy we adopted is generating results, with revenue mix improving and growth accelerating across our core programmatic business lines.”
Nexxen International CEO, on the earnings call
Forward Guidance & Outlook
Nexxen raised full-year 2026 Contribution ex-TAC guidance to $382–$397 million (from $375–$390 million) and programmatic revenue guidance to $374–$388 million (from $367–$381 million), representing approximately 10% and 12% year-over-year growth at midpoints respectively. Adjusted EBITDA guidance was reaffirmed at $122–$132 million, representing approximately 10% year-over-year growth and a 33% Adjusted EBITDA margin on a Contribution ex-TAC basis at midpoint. Q2 2026 quarter-to-date Contribution ex-TAC and programmatic revenue have exceeded initial expectations, driven by broad-based strength across programmatic business lines, particularly CTV, mobile and data products. Growth is expected to be driven by AI-resilient media channels including CTV and mobile in-app, scaling enterprise adoption, increasing end-to-end platform utilization, accelerating mobile in-app revenue, the exclusive CTV media and data partnership with V, and growing traction with Nexxen TV Home Screen. The company plans continued investment in AI, data, infrastructure, CTV and mobile in-app. An Investor Day is scheduled for June 16, 2026.
NEXN YoY Financials
NEXN Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.