Nexxen hits record Q1 highs and lifts 2026 outlook on programmatic strength

Nexxen International (NASDAQ:NEXN), a global advertising technology platform, reported record-breaking financial results for the first quarter of 2026.

The company posted total revenue of $86.8 million, an 11% increase year-over-year, driven by a surge in high-margin programmatic activity.

Programmatic revenue reached a record $81.9 million (up 14% YoY), now accounting for 94% of total turnover, while Connected TV (CTV) revenue climbed 12% to $29.4 million.

The company’s preferred growth metric, Contribution ex-TAC, hit a record Q1 high of $84.5 million, representing 13% growth.

This top-line momentum trickled down to an adjusted EBITDA of $16.3 million, reflecting a 19% margin.

While Nexxen reported a GAAP operating loss of $4.9 million for the period, the results comfortably exceeded analyst expectations, leading the company to raise its full-year financial outlook.

Meanwhile, Nexxen’s balance sheet remains a fortress of liquidity.

The company ended the quarter with $94.6 million in cash and equivalents and zero long-term debt.

This financial flexibility allowed the board to expand its share repurchase capacity by an additional $40 million, following the successful buyback of 1.13 million shares earlier in the quarter.

Since 2022, Nexxen has repurchased nearly 40% of its outstanding shares, signaling management's strong conviction in the stock's valuation.

Strategically, Nexxen is deepening its "nexAI" investments and recently partnered with The Trade Desk and V (formerly Vizio) to integrate native CTV inventory into the Ventura ecosystem.