Record Q3 Results and Growth
Nexon achieved record Q3 results with an increase in contribution ex tax to $85.5 million, marking a 12% growth from Q3 2023. Programmatic revenue grew by 10% year-over-year, driven by enhanced sales execution and scaling partnerships.
Significant CTV Revenue Growth
CTV revenue was $29.7 million in Q3, reflecting a 52% growth from Q3 2023. This was driven by the partnership with LG Ads and a continued shift by customers into premium CTV solutions.
Adjusted EBITDA Increase
The company reported adjusted EBITDA of $31.6 million, a 49% year-over-year increase from Q3 2023, with an adjusted EBITDA margin rising to 37%.
New Partnerships and Data Licensing Opportunities
Nexon secured partnerships with The Trade Desk and SpeckedUp, expanding data licensing revenue opportunities and increasing strategic collaborations.
Strong Financial Position
As of September 30, Nexon had $166.5 million in net cash and no long-term debt, along with a new $50 million share repurchase program approved.