By Terell Wright

Shares of Nexxen slid to a new 52-week low after the company lowered its full-year forecast.

Shares declined 21% to $6.32 on Thursday and are down 42% year to date.

The advertising technology company lowered its adjusted earnings before interest, taxes, depreciation and amortization forecast to a range of $113 million to $117 million, compared with a prior view of around $125 million.

Nexxen also expects its fiscal 2025 contribution, excluding traffic-acquisition costs between $350 million and $360 million.

The company said it has observed lower-than-expected spending from certain customers and within specific verticals, as well as continued weakness in its non-core, non-programmatic business lines. It said it is actively evaluating all available options for its non-programmatic businesses.

The company said it is shifting sales, product and commercial resources toward its demand-side platform and data platform to boost sales and reduce reliance on third-party partners.

Nexxen's third-quarter profit fell to $3.8 million, or 7 cents a share, from $16.5 million, or 21 cents a share, in the same period a year earlier.

Adjusted earnings were 20 cents a share, matching analysts' estimates, according to FactSet.

Revenue rose roughly 5% to $94.8 million, beating Wall Street's forecast of $92.4 million.

Write to Terell Wright at terell.wright@wsj.com

(END) Dow Jones Newswires

November 13, 2025 11:31 ET (16:31 GMT)

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