NEXXEN INTERNATIONAL LTD COMMON STOCK

Nexxen presented an end-to-end platform centered on its own AI layer nexAI at the Rosenblatt Tech Summit, with a focus on Connected Television (CTV) and mobile in-app advertising. CTV revenue rose 33% in Q2 and now represents 40% of programmatic revenue; mobile grew 23%. The company holds USD 132 million in cash and is debt-free. Management expects heavy investments in 2026, a marked improvement in margins from 2027, and is targeting a long-term EBITDA margin of around 40%. Rosenblatt reiterated a buy rating with a USD 16 price target. » More on de.investing.com

Nexxen presented strong operational progress at the Canaccord Genuity Growth Conference: contribution ex-TAC rose in Q2 2024 by 11% (quarter record), programmatic revenues by 12% and Connected TV by 33% (best quarter). The number of enterprise customers grew from under 400 to over 750, and management raised its 2024 net revenue growth guidance three times to now 12%. Nexxen highlights a solid balance sheet with $132 million in cash, no long-term debt and a new $40 million share buyback program; additionally, AI tools like nexAI, homescreen partnerships (including Hisense VIDAA) and potential bolt-on acquisitions are driving further growth. » More on de.investing.com

Nexxen has appointed Chance Johnson as president and reshuffled its commercial leadership. Johnson, previously chief commercial officer, is expected to strengthen customer and partner relationships and work closely with CEO Ofer Druker. Kara Puccinelli was named chief commercial officer and will lead the enterprise business, while Kenneth Suh is the new chief business officer responsible for exchange, media and CTV initiatives. The reorganization aims to drive growth in the enterprise segment of the advertising platform. » More on de.investing.com