Business
Nexxen Reports Second Quarter 2024 Financial Results
Generated record Q2 Contribution ex-TAC, programmatic revenue and CTV revenue Achieved 27% year-over-year Adjusted EBITDA growth in Q2 2024 while expanding
About this update from Nexxen International Ltd.
[{"type":"text","content":"Generated record Q2 Contribution ex-TAC, programmatic revenue and CTV revenue Achieved 27% year-over-year Adjusted EBITDA growth in Q2 2024 while expanding Adjusted EBITDA Margin as a percentage of Contribution ex-TAC to 32% from 26% in Q2 2023 Reaffirming full year 2024 Contribution ex-TAC and Adjusted EBITDA guidance Launched $50 million Ordinary Share repurchase program and fully repaid the Company’s outstanding long-term debt in Q2 2024 NEW YORK, Aug. 22, 2024 (GLOBE NEWSWIRE) -- Nexxen International Ltd. (AIM/NASDAQ: NEXN) (“Nexxen” or the “Company”), a global, flexible advertising technology platform with deep expertise in data and advanced TV, announced today its financial results for the three and six months ended June 30, 2024. Q2 2024 Financial Highlights Record Q2 Contribution ex-TAC of $83.1 million, up 4% year-over-yearRecord Q2 programmatic revenue of $78.6 million, up 3% year-over-yearRecord Q2 CTV revenue of $28.2 million, up 14% year-over-yearCTV revenue reflected 36% of programmatic revenue, up from 32% in Q2 2023Programmatic revenue reflected 89% of revenue, compared to 91% in Q2 2023Adjusted EBITDA of $26.8 million, up 27% year-over-year, representing a 32% Adjusted EBITDA Margin on a Contribution ex-TAC basis (30% on a revenue basis), compared to 26% (25% on a revenue basis) in Q2 2023Video revenue reflected 74% of programmatic revenue, up from 71% in Q2 2023$151.9 million net cash as of June 30, 2024, alongside $90 million undrawn on the Company’s revolving credit facilityCompleted $20 million Ordinary Share repurchase program and launched new $50 million Ordinary Share repurchase programFully repaid the Company’s outstanding $100 million long-term debt H1 2024 Financial Highlights Record H1 Contribution ex-TAC of $152.8 million, up 4% year-over-yearRecord H1 programmatic revenue of $144.2 million, up 4% year-over-yearRecord H1 CTV revenue of $47.0 million, up 2% year-over-yearCTV revenue reflected 33% of programmatic revenue in H1 2024 and H1 2023Programmatic revenue reflected 88% of revenue, compared to 89% in H1 2023Adjusted EBITDA of $38.7 million, up 29% year-over-year, representing a 25% Adjusted EBITDA Margin on a Contribution ex-TAC basis (24% on a revenue basis), compared to 20% (19% on a revenue basis) in H1 2023Video revenue reflected 70% of programmatic revenue, compared to 73% in H1 2023 “In th...