Nexxen Reports Quarterly Revenue of $102.9 Million, Up 9%
Key Facts
Nexxen International reported revenue of $102.9 million in the third quarter of 2026, up 9% from $94.8 million in the same period a year earlier. The results covered the three months ended September 30, according to the company’s statement. Diluted non-IFRS earnings per share rose to $0.32 from $0.20, a 60% year-over-year increase. Diluted IFRS earnings per share were $0.18, compared with $0.07 a year earlier, an increase of 150%. Nexxen reported the results on November 12, after its shares closed at $9.05 in the November 11 session, according to EL7 data.
On analyst estimates, Investing.com reported that quarterly earnings per share of $0.320 came in $0.03 below its estimate of $0.350. By contrast, the site said revenue exceeded its estimate of $100.14 million, with the company reporting $102.9 million. The comparison puts earnings per share and revenue on different sides of the site’s estimates. Contribution ex-TAC was $100.3 million, a third-quarter record. It rose 8% from $92.6 million in the third quarter of 2025.
Programmatic revenue was $97.8 million, a third-quarter record and a 9% year-over-year increase. Its share of total revenue rose to 95%, compared with 94% in the same period last year. Within this business, connected TV revenue reached $34.1 million, up 39% year over year. It accounted for 35% of programmatic revenue, versus 27% in the third quarter of 2025. The company said contribution ex-TAC from enterprise customers grew by more than 40% year over year in the quarter.
Adjusted EBITDA rose to $34.5 million, up 22% from $28.2 million a year earlier. Its margin on a contribution ex-TAC basis was 34%, up from 30%. The company also reported operating income of $12.7 million, compared with $7.3 million in the third quarter of 2025, an increase of 75%. Net income margin on a gross profit basis was 15%, versus 6% in the same period. However, operating income for the first nine months of 2026 was $12.0 million, down 38% from $19.4 million in the same period last year.
As of September 30, 2026, Nexxen had $152.9 million in cash and cash equivalents, no long-term debt and $50 million available under an undrawn revolving credit facility. The company reaffirmed its 2026 guidance ranges, including contribution ex-TAC of between $388 million and $402 million and programmatic revenue of between $380 million and $393 million. It also maintained its adjusted EBITDA outlook of between $122 million and $132 million. Management said it expects the fourth quarter to be a record for contribution ex-TAC and programmatic revenue. It based its initial assessment on October being, in its words, “the best revenue month ever.”
Management also expects record connected TV revenue in the fourth quarter, driven by momentum in its solutions in this area and continued expansion of Nexxen’s TV home screen service, which it said is tracking in line with expectations. It added that it expects adjusted EBITDA to grow sequentially and year over year, alongside margin expansion in the quarter. The company said it benefited from political advertising related to the U.S. midterm elections in the third quarter and early fourth quarter of 2026. However, it does not expect political revenue comparisons to be a significant headwind to growth in 2027. Nexxen said it extended its share repurchase program authorization to up to $40 million and expects to resume purchases in the second half of the fourth quarter.