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

Nexxen (NEXN) provides the following financial guidance for full year 2024: Reaffirming full year 2024 Contribution ex-TAC in a range of approximately $340 – $345 million; Raising full year 2024 Adjusted EBITDA to approximately $107 million from approximately $100 million; Reaffirming full year 2024 programmatic revenue to reflect approximately 90% of full year 2024 revenue; Management expects the Company to increase its technology, data, AI and Generative AI investments in Q4 2024 and full year 2025 to further its platform and data advantages.