Nexxen hits record programmatic revenue as smart TV partnerships scale

Nexxen International (NASDAQ:NEXN), a global ad-tech platform specializing in data and advanced TV, announced record financial results for the fiscal year ended December 31, 2025.

The company achieved an all-time high in "Contribution ex-TAC" (Contribution excluding Traffic Acquisition Costs) of $353.1 million, alongside record programmatic revenue of $340.6 million.

Despite a slight year-over-year dip in fourth-quarter Contribution ex-TAC to $97.8 million—largely attributed to a lack of cyclical political spending compared to the prior year—the company maintained a strong profitability profile.

Adjusted EBITDA for the quarter stood at $33.9 million, representing a healthy 35% margin on a Contribution ex-TAC basis.

Nexxen’s growth strategy is increasingly centered on its deepening partnership with V (formerly VIDAA), the Smart TV operating system powering millions of Hisense and Toshiba devices.

Management highlighted the successful adoption of Smart TV home-screen ad formats, which allow advertisers to engage viewers at the point of discovery.

The quarter also marked a milestone in industry collaboration, as Nexxen became one of the first partners to integrate with The Trade Desk’s Ventura Ecosystem.

This move is expected to streamline programmatic access to premium CTV inventory, enhancing transparency and fill rates for global advertisers.

Nexxen enters the new fiscal year with a pristine balance sheet, reporting $133.3 million in cash and cash equivalents and zero long-term debt.

The company continues to return value to shareholders through an ongoing share repurchase program, having already bought back approximately 38.5% of its outstanding shares since 2022.