Nexxen International (NASDAQ:NEXN) reported first-quarter results on Wednesday that came in ahead of analyst forecasts, while the company also raised its full-year revenue guidance following continued strength in its programmatic advertising business.
The company’s shares were little changed in after-hours trading after the announcement.
Revenue and earnings exceed forecasts
Nexxen posted adjusted earnings per share of $0.06 for the quarter, beating analyst expectations of $0.04 per share.
Revenue rose 11% year-on-year to $86.8 million, exceeding the consensus estimate of $76.97 million.
The company also reported record first-quarter Contribution ex-TAC of $84.5 million, up 13% from the prior year, alongside record programmatic revenue of $81.9 million, representing annual growth of 14%.
“We delivered a strong start to 2026, with record first-quarter results ahead of consensus estimates and continued strength to this point in the second quarter, enabling us to raise our full-year Contribution ex-TAC and programmatic revenue guidance,” said Ofer Druker, chief executive officer of Nexxen.
Company raises full-year guidance
Nexxen increased its full-year 2026 Contribution ex-TAC guidance to a range of $382 million to $397 million, compared with its previous outlook of $375 million to $390 million.
The midpoint of the revised range, at $389.5 million, implies approximately 10% year-on-year growth.
The company also lifted its full-year programmatic revenue forecast to between $374 million and $388 million, up from its prior range of $367 million to $381 million.
According to Nexxen, the midpoint of the updated range represents roughly 12% annual growth.
Adjusted EBITDA guidance remained unchanged at between $122 million and $132 million.
CTV business continues expanding
First-quarter adjusted EBITDA totaled $16.3 million, representing a margin of 19%, compared with $23.1 million in the same period a year earlier.
Nexxen also reported record connected TV (CTV) revenue of $29.4 million, up 12% year-on-year.
CTV accounted for 36% of the company’s total programmatic revenue during the quarter.