Nexxen International Ltd.
- Open
- 9.10
- Day high
- 9.44
- Day low
- 9.04
- Prev close
- 9.03
- Volume
- 149K
- Mkt cap
- $523M
- P/E (TTM)
- 30.0
- EPS (TTM)
- $0.31
- P/B
- 1.1
- P/S
- 1.4
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$937K over the last 3 months (0 open-market buys, 12 sales)
- 🏛Institutions mixed (13F)
Nexxen International Ltd. (NEXN) is a Communication Services company listed on NASDAQ. The stock is down 14% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 12 sales (SEC Form 4).
Nexxen International Ltd. (NEXN) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 6 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
NEXN earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jun 16, 2026 | $0.04 | $0.06 | +50.0% | $85M | +9.6% |
| Mar 4, 2026 | $0.27 | $0.33 | +22.2% | $101M | +26.6% |
| Nov 13, 2025 | $0.22 | $0.20 | -9.1% | $95M | -5.6% |
| Aug 13, 2025 | $0.19 | $0.29 | +52.6% | $91M | -4.1% |
| Mar 5, 2025 | $0.32 | $0.48 | +50.0% | $112M | +48.4% |
| Nov 15, 2024 | $0.11 | $0.14 | +27.3% | $90M | -17.5% |
| Aug 22, 2024 | $0.09 | $0.09 | +0.0% | $89M | +4.7% |
| May 20, 2024 | $0.01 | $0.02 | +33.3% | $74M | +3.6% |
| Mar 6, 2024 | $0.23 | $0.10 | -56.5% | $96M | +8.4% |
| Nov 22, 2023 | $0.02 | $0.06 | +200.0% | $80M | +4.6% |
| Aug 17, 2023 | $0.15 | $0.03 | -80.0% | $84M | -5.9% |
NEXN insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 22, 2026 | Niri Sagiofficer: Chief Financial Officer | Sell | 2,098 | $8.78 |
| Jun 17, 2026 | Niri Sagiofficer: Chief Financial Officer | Sell | 30,436 | $8.77 |
| Jun 17, 2026 | Niri Sagiofficer: Chief Financial Officer | Sell | 2,214 | $8.91 |
| Jun 17, 2026 | Niri Sagiofficer: Chief Financial Officer | Sell | 1,160 | $8.71 |
| Jun 15, 2026 | Niri Sagiofficer: Chief Financial Officer | Sell | 200 | $8.70 |
| Jun 11, 2026 | Niri Sagiofficer: Chief Financial Officer | Sell | 5,922 | $8.74 |
| Jun 8, 2026 | Niri Sagiofficer: Chief Financial Officer | Sell | 13,164 | $8.54 |
| Jun 4, 2026 | Niri Sagiofficer: Chief Financial Officer | Sell | 1,027 | $8.58 |
| Jun 4, 2026 | Niri Sagiofficer: Chief Financial Officer | Sell | 16,756 | $8.52 |
| Jun 3, 2026 | Niri Sagiofficer: Chief Financial Officer | Sell | 33,393 | $8.63 |
| Jun 3, 2026 | Niri Sagiofficer: Chief Financial Officer | Sell | 364 | $8.70 |
| Jun 1, 2026 | Niri Sagiofficer: Chief Financial Officer | Sell | 1,486 | $8.50 |
| May 5, 2026 | Niri Sagiofficer: Chief Financial Officer | Grant | 100,865 | — |
Source: NEXN SEC Form 4 filings, latest Jun 22, 2026. For informational purposes only — not investment advice.
See the full NEXN insider & 13F page →Nexxen International Ltd. company profile
Overview
Nexxen International Ltd. (NASDAQ:NEXN) is an Israeli-based advertising technology company that provides end-to-end software platforms for digital advertising. Founded in 2007 and originally known as Tremor International Ltd., the company went public in June 2021 and rebranded to Nexxen in January 2024. The company operates from Tel Aviv-Yafo, Israel, and serves advertisers, agencies, brands, and digital publishers across global markets including the United States, Asia-Pacific, Europe, the Middle East, and Africa. Nexxen has grown through strategic acquisitions, most notably the 2022 acquisition of Amobee, which significantly expanded its connected TV (CTV) and linear television advertising capabilities.
Business
Nexxen operates in the digital advertising technology industry, specifically in the programmatic advertising space. Programmatic advertising refers to the automated buying and selling of digital advertising space in real-time through software platforms, replacing traditional manual negotiations between advertisers and publishers. The company provides three core technology platforms that form an integrated advertising ecosystem: 1. Demand Side Platform (DSP) - This platform enables advertisers, agencies, and brands to purchase digital advertising inventory across various channels including display, video, mobile, and connected TV. The DSP allows clients to target specific audiences, set bidding parameters, and execute campaigns in real-time across thousands of websites and apps simultaneously. Advertisers can choose between full-service managed campaigns or self-service options. 2. Supply Side Platform (SSP) - This technology helps publishers (websites, apps, streaming services) monetize their digital content by selling advertising space to the highest bidders. The SSP optimizes revenue by managing inventory, setting pricing floors, and connecting to multiple demand sources to maximize the value of each advertising impression. 3. Data Management Platform (DMP) - This solution integrates with both the DSP and SSP to enable data-driven advertising decisions. The platform collects, organizes, and analyzes audience data from various sources to help advertisers create more targeted campaigns and publishers better understand their audiences. The company's revenue is primarily generated through programmatic advertising, which represents approximately 90% of total revenue. Within programmatic, Connected TV (CTV) advertising has become increasingly important, representing 38% of programmatic revenue in Q4 2024. CTV refers to streaming television content delivered through internet-connected devices, which has grown rapidly as consumers shift from traditional cable TV to streaming services.
Revenue model
Nexxen operates on a take rate business model common in advertising technology. The company earns revenue by taking a percentage of the advertising spend that flows through its platforms, while the remainder (called Traffic Acquisition Costs or TAC) is passed to publishers. The primary revenue streams include: 1. Programmatic Advertising Commissions - The company earns a percentage of every advertising dollar spent through its DSP platform. When advertisers purchase digital advertising inventory, Nexxen retains typically 10-30% of the spend as its fee, with the remainder paid to publishers. 2. Data Licensing - Nexxen monetizes its proprietary data assets, particularly Automatic Content Recognition (ACR) data from smart TV partnerships. This data, which tracks viewing behaviors, is licensed to other advertising platforms and represents a high-margin revenue stream with 102% year-over-year growth in Q4 2024. 3. Managed Services - The company provides full-service campaign management for advertisers who prefer not to use self-service tools, charging premium rates for these white-glove services. The company's customers are primarily advertising agencies, brands, and advertisers who purchase digital advertising, as well as publishers who sell advertising inventory. Major customer segments include independent advertising agencies, enterprise brands, and political advertisers during election cycles. Factors that positively impact margins include the shift toward higher-value CTV advertising (which commands premium rates), growth in data licensing revenue (which has minimal incremental costs), operational efficiencies from platform automation, and the integration of acquired companies like Amobee. Margin pressures can arise from increased competition in programmatic advertising, economic downturns that reduce advertising spending, platform fees paid to major tech companies, and the need for continuous technology investment to remain competitive.
Competitive moat
Nexxen's competitive moat is moderate but strengthening through its integrated data and technology assets. The company's primary competitive advantages stem from its comprehensive data platform and strategic partnerships rather than traditional network effects or switching costs. The strongest element of Nexxen's moat is its proprietary data assets, particularly exclusive global ACR data rights through partnerships with smart TV manufacturers like LG, TCL, and VIDAA through 2026. This data provides unique insights into viewing behaviors that competitors cannot easily replicate, creating value for both advertisers seeking better targeting and other platforms willing to license this data. The company's end-to-end platform integration provides some defensive characteristics, as clients benefit from unified campaign management across DSP, SSP, and data management functions. This integration creates mild switching costs and operational efficiencies that pure-play competitors cannot match. However, Nexxen faces significant competitive pressures. The programmatic advertising industry is dominated by much larger players including Google's Display & Video 360, Amazon's DSP, and The Trade Desk, all of which have substantially greater resources and market reach. The company also competes with numerous specialized players in specific verticals like CTV advertising. The moat is further limited by the commoditized nature of much programmatic advertising technology and the relatively low barriers to entry for new competitors. While data partnerships provide differentiation, the rapid evolution of privacy regulations and potential changes in data availability (such as cookie deprecation) could erode some competitive advantages. The company's moderate scale compared to industry giants also limits its negotiating power with both advertisers and publishers.
Risks & safety
Nexxen demonstrates a strong financial safety profile with minimal solvency risk and attractive valuation metrics. **Liquidity and Debt:** - Strong cash position of $187 million with minimal debt (debt-to-equity ratio of 0.07) - Positive free cash flow of $127 million for full year 2024 - Current ratio of 1.44 indicating adequate short-term liquidity - No significant cash burn concerns given profitable operations **Valuation Metrics:** - Price-to-earnings ratio of 3.5x (Q4 2024) indicating potential undervaluation - EV/EBITDA of 3.4x, well below industry averages - Price-to-book ratio of 0.65x suggesting trading below book value - Graham number of 7.9 compared to current price of $9.50 **Other Considerations:** - Consistent profitability with 38% adjusted EBITDA margins - Strong customer retention rate of 102% - Growing contribution per customer ($526,000, up 69% year-over-year) - Active share repurchase program demonstrating management confidence
Recent development
Over the past few years, Nexxen has undergone significant strategic transformation focused on three key areas: integration and rebranding, data platform development, and connected TV expansion. The company completed the integration of its major 2022 acquisition, Amobee, which added substantial CTV and linear TV advertising capabilities. This integration culminated in the January 2024 rebranding from Tremor International to Nexxen International, representing a strategic shift toward a unified, end-to-end advertising platform identity. Data platform development has become central to the company's strategy. Nexxen launched its proprietary Data Management Platform with a unified identity graph designed to address the impending deprecation of third-party cookies. The company secured exclusive global ACR data rights through partnerships with smart TV manufacturers and invested $25 million in VIDAA to strengthen these capabilities. Data licensing has emerged as a high-margin revenue stream, growing 102% year-over-year in Q4 2024. The company has significantly expanded its Connected TV footprint, with CTV revenue growing 86% year-over-year to $37 million in Q4 2024, now representing 38% of programmatic revenue. Key partnerships with Roku, LG, TCL, and The Trade Desk have enhanced CTV inventory access and data capabilities. Artificial Intelligence integration represents the latest strategic initiative, with plans to launch generative AI innovations across the platform in 2025. This includes AI-powered discovery tools, DSP Copilot virtual assistants, and enhanced audience targeting capabilities designed to simplify platform usage and improve campaign performance. Strategic partnerships have accelerated growth, including commerce media partnerships with United Airlines' Kinective Media, data partnerships with Stagwell Marketing Cloud and Experian, and technology partnerships with The Trade Desk for ACR data licensing. These partnerships expand market reach while leveraging Nexxen's core data and platform capabilities.
NEXN company profile · for informational purposes only — not investment advice.
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