Nexxen International Ltd. (NEXN)
NASDAQ:NEXN
Top Page
Nexxen International
(NASDAQ:NEXN)
Select Model
Select Model
Rating:70Outperform
Price Target:
$7.50
▲(9.01% Upside)
Action:UpgradedDate:03/07/26
The score is driven primarily by resilient fundamentals (profitability recovery, strong cash generation, and a low-leverage balance sheet) and a generally positive FY2026 outlook from management. These strengths are tempered by weak recent revenue/margin trends and 2025 operating headwinds, while technicals look overbought in the near term despite improving momentum.
Positive Factors
Balance-sheet strength
A strong liquidity position with no long-term debt and an undrawn revolver gives Nexxen durable financial flexibility to fund product investment, weather ad-market cyclicality, and sustain shareholder returns. Low leverage reduces refinancing risk and supports strategic optionality over the next 2–6 months.
Negative Factors
Top-line weakness
Stalled or declining revenue undermines operating leverage and future margin expansion. Persistent top-line softness limits the payoff from prior infrastructure investments, forces tougher expense trade-offs, and increases sensitivity to customer-specific spending shifts over the coming quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance-sheet strength
A strong liquidity position with no long-term debt and an undrawn revolver gives Nexxen durable financial flexibility to fund product investment, weather ad-market cyclicality, and sustain shareholder returns. Low leverage reduces refinancing risk and supports strategic optionality over the next 2–6 months.
Read all positive factors
Nexxen International (NEXN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$383.36M
Dividend YieldN/A
Average Volume (3M)380.45K
Price to Earnings (P/E)15.6
Beta (1Y)0.62
Revenue Growth1.63%
EPS GrowthN/A
CountryUS
Employees854
SectorCommunication Services
Sector Strength97
IndustryAdvertising Agencies
Share Statistics
EPS (TTM)0.33
Shares Outstanding55,720,780
10 Day Avg. Volume250,752
30 Day Avg. Volume380,450
Financial Highlights & Ratios
PEG Ratio-0.88
Price to Book (P/B)0.82
Price to Sales (P/S)1.07
P/FCF Ratio3.99
Enterprise Value/Market Cap0.74
Enterprise Value/Revenue0.77
Enterprise Value/Gross Profit1.08
Enterprise Value/Ebitda2.84
Forecast
1Y Price Target
$9.25Price Target Upside34.45% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering7
EPS Forecast (FY)1.07
Revenue Forecast (FY)$381.61M
Nexxen International Business Overview & Revenue Model
Company Description
Nexxen International Ltd. provides end-to-end software platform that enables advertisers to reach relevant audiences and publishers. The company's demand side platform (DSP) offers full-service and self-managed marketplace access to advertisers an...
How the Company Makes Money
Nexxen makes money primarily by facilitating digital advertising transactions and providing advertising-technology services. Key revenue streams generally include: (1) Platform and transaction revenue from programmatic media buying/selling, where ...
Nexxen International Earnings Call Summary
Earnings Call Date:Mar 04, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 20, 2026
Earnings Call Sentiment Positive
The call balanced clear strategic progress and product/partnership momentum with notable near-term operational headwinds. Management highlighted meaningful 2025 investments (doubled SSP capacity, Next.AI, enterprise focus, and a programmatic smart-TV home-screen solution) and reported very strong early-2026 pacing and constructive FY2026 guidance (~8%–10% growth at midpoints). However, 2025 results showed modest organic growth (≈3% contribution ex-TAC), declines in key formats (CTV -19% YoY in Q4), lower retention, EPS and cash flow deterioration, and short-term customer/tariff pressures. Overall, the narrative is one of strategic positioning and improving momentum offsetting recent execution and macro challenges.Positive Updates
Strong start to 2026 and positive guidance
Record January and February; Q1 contribution ex-TAC and programmatic revenue trending ahead of initial expectations. FY2026 guidance: contribution ex-TAC $375M–$390M (≈>8% YoY at midpoint), programmatic revenue $370M–$381M (≈10% YoY at midpoint), adjusted EBITDA $122M–$132M (≈33% margin at midpoint).
Negative Updates
Q4 contribution ex-TAC and programmatic revenue declines
Q4 contribution ex-TAC $97.8M, down 7% YoY (down 1% ex-political). Q4 programmatic revenue $94.3M, down 4% YoY (up 2% ex-political). Management attributed part of the weakness to a large DSP customer's reduced spending and absence of political spend.
Read all updates
Q4-2025 Updates
Positive
Negative
Strong start to 2026 and positive guidance
Record January and February; Q1 contribution ex-TAC and programmatic revenue trending ahead of initial expectations. FY2026 guidance: contribution ex-TAC $375M–$390M (≈>8% YoY at midpoint), programmatic revenue $370M–$381M (≈10% YoY at midpoint), adjusted EBITDA $122M–$132M (≈33% margin at midpoint).
Read all positive updates
Company Guidance
Nexxen guided FY2026 contribution ex‑TAC of $375M–$390M (implying >8% YoY growth at the midpoint) and programmatic revenue of $370M–$381M (≈10% YoY at the midpoint), with adjusted EBITDA of $122M–$132M (≈33% of contribution ex‑TAC at the midpoint); management said contribution ex‑TAC and programmatic revenue are already trending ahead in Q1 after record January and February. The outlook assumes growth from enterprise, data and CTV (including the V home‑screen product and expanded mobile in‑app), plus scalable benefits from Next.AI, while OpEx as a percent of contribution ex‑TAC is expected to decrease modestly, R&D to remain roughly flat, D&A and S&M to tick down slightly as a percent, and G&A and stock‑based comp to rise. For context, Q4/2025 contribution ex‑TAC was $97.8M (down 7% YoY, 1% ex‑political), programmatic revenue $94.3M (down 4% YoY, up 2% ex‑political), CTV revenue $30.1M (down 19% YoY, 12% ex‑political), desktop video +21% YoY, data products contribution ex‑TAC +51% YoY, full‑year 2025 retention 92% (from 102%), contribution ex‑TAC per active customer ≈ $563k (+7% YoY), Q4 adjusted EBITDA $33.9M (35% margin vs. contribution ex‑TAC), cash $133.3M, no long‑term debt, $50M undrawn revolver, Q4 buybacks 1.44M shares for ~$10.8M (≈$258.2M repurchased since Mar‑2022, ~38.5% of shares), ~$2M remaining on the current repurchase authorisation and a new $40M program approved to follow.Nexxen International Financial Statement Overview
Summary
Income Statement
63
Positive
Balance Sheet
78
Positive
Cash Flow
71
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 364.78M | 365.48M | 331.99M | 335.25M | 341.94M |
| Gross Profit | 246.68M | 304.46M | 269.72M | 274.50M | 270.29M |
| EBITDA | 95.57M | 106.15M | 69.50M | 89.74M | 115.20M |
| Net Income | 25.04M | 35.44M | -21.49M | 22.74M | 73.22M |
Balance Sheet | |||||
| Total Assets | 756.07M | 840.51M | 904.80M | 956.16M | 802.74M |
| Cash, Cash Equivalents and Short-Term Investments | 133.31M | 187.07M | 234.31M | 217.50M | 367.72M |
| Total Debt | 31.93M | 37.20M | 136.13M | 127.88M | 14.99M |
| Total Liabilities | 281.40M | 309.66M | 361.25M | 404.55M | 230.36M |
| Stockholders Equity | 474.67M | 530.85M | 543.55M | 551.62M | 572.38M |
Cash Flow | |||||
| Free Cash Flow | 97.99M | 127.31M | 41.12M | 67.83M | 161.74M |
| Operating Cash Flow | 110.11M | 150.84M | 60.74M | 83.01M | 170.09M |
| Investing Cash Flow | -48.35M | -21.21M | -16.96M | -232.99M | -16.49M |
| Financing Cash Flow | -117.52M | -174.74M | -26.55M | 3.06M | 116.86M |
Nexxen International Technical Analysis
Negative
6.88
Price Trends
6.49
Positive
6.48
Positive
7.99
Negative
Market Momentum
>-0.01
Positive
48.54
Neutral
64.39
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NEXN, the sentiment is Negative. The current price of 6.88 is above the 20-day moving average (MA) of 6.82, above the 50-day MA of 6.49, and below the 200-day MA of 7.99, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 48.54 is Neutral, neither overbought nor oversold. The STOCH value of 64.39 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for NEXN.
Nexxen International Risk Analysis
Nexxen International disclosed 1 risk factors in its most recent earnings report. Nexxen International reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Nexxen International Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | $383.36M | 15.61 | 5.19% | ― | 1.63% | ― | |
68 Neutral | $703.88M | 4.07 | 24.45% | ― | 43.12% | ― | |
67 Neutral | $946.82M | 5.65 | 13.04% | ― | 0.32% | 69.78% | |
67 Neutral | $1.76B | 16.00 | 17.85% | ― | 6.27% | 226.16% | |
65 Neutral | $685.54M | -945.84 | -3.69% | ― | 31.28% | -22.05% | |
62 Neutral | $1.66B | 37.07 | 4.42% | ― | 6.76% | 1841.46% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% |
* Communication Services Sector Average
NEXN
Nexxen International
6.88
-1.64
-19.25%
STGW
Stagwell
6.53
1.41
27.54%
QNST
Quinstreet
12.35
-2.94
-19.23%
CRTO
Criteo SA
18.51
-10.50
-36.19%
MGNI
Magnite
12.16
2.42
24.85%
MNTN
MNTN, Inc Class A
9.28
-18.43
-66.51%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.