Nexxen sees FY24 contribution ex-TAC revenue $340M-$345M

Consensus $357.29M. Sees Full year 2024 Adjusted EBITDA of approximately $100 million;Full year 2024 programmatic revenue to reflect approximately 90% of full year 2024 revenue. Management anticipates increased Contribution ex-TAC, programmatic revenue and Adjusted EBITDA, as well as Adjusted EBITDA Margin expansion in H2 2024 vs. H1 2024 and H2 2023, driven by enhanced sales execution and recently launched partnerships scaling. Management remains confident the Company will achieve CTV revenue growth for full year 2024 vs. full year 2023, with acceleration anticipated in H2 2024 vs. H1 2024 and H2 2023, driven by a broader customer shift into its premium suite of CTV solutions, and increasing CTV revenue related to its partnership with Alphonso and LG Electronics. Management believes the Nexxen Data Platform launch positions the Company to achieve data licensing revenue growth in full year 2024 vs. full year 2023, with further acceleration expected in 2025. Management believes the Company’s robust suite of technology and data offerings reflect a core advantage and differentiator for Nexxen. To expand upon its advantage, and further enhance its capabilities, management has begun accelerating Nexxen’s investment in product innovation, and expanded the Company’s generative AI and machine learning utilization. Management expects generative AI to reflect an important product investment focus in 2025.