TEL AVIV, Israel - Nexxen International Ltd., a company specializing in computer programming and data processing services with impressive gross profit margins of 82.29%, has disclosed the outcomes of its Annual General Meeting (AGM) held today. The company, which has demonstrated strong market performance with a 91.7% year-to-date return according to InvestingPro data, provided the details in a Form 6-K filing with the U.S. Securities and Exchange Commission.
The AGM, which took place at the company's principal executive office at 82 Yigal Alon Street, Tel Aviv, Israel, resulted in the passage of resolutions laid out for shareholder approval. The specific resolutions approved were not detailed in the filing.
This event follows the company's previous name change from Tremor International Ltd. to Nexxen International Ltd., which occurred on March 4, 2021. InvestingPro analysis indicates the company maintains a strong financial position, with more cash than debt on its balance sheet and a healthy current ratio of 1.43.
The information contained in the Form 6-K is also incorporated by reference into the company's registration statement on Form S-8, according to the filing. This incorporation is effective from today, the date of the report's submission, and will be a part of the registration statement to the extent that it is not superseded by subsequent documents or reports filed or furnished.
Nexxen International, listed under the Central Index Key 0001849396, operates under the Standard Industrial Classification code 7370, which covers various computer-related services. The company's fiscal year-end is December 31.
The filing was duly signed by Sagi Niri, the Chief Financial Officer of Nexxen International Ltd., confirming the accuracy and authorization of the report.
Investors and stakeholders can refer to this SEC filing for official documentation of the AGM results. The company's business address and contact information remain the same as previously listed, with no changes reported in this filing.
This news is based on the latest Form 6-K filing by Nexxen International Ltd. with the U.S. Securities and Exchange Commission.
In other recent news, Nexxen International has outperformed expectations with its third-quarter results for 2024, leading Needham to maintain a Buy rating and raise the stock's price target to $9.50.
The company has also initiated a $50 million share repurchase program as part of its strategy to manage capital allocation and shareholder value. Moreover, Nexxen has expressed its intention to delist from the AIM market, a decision to be discussed at the upcoming Annual General Meeting.
RBC Capital maintains confidence in Nexxen's future, maintaining an Outperform rating and raising its price target from $9 to $11. Needham's analysis indicates that Nexxen's revenue and earnings per share are expected to grow significantly, with a projection of a 10% net revenue growth and a 69% EPS growth rate for Nexxen in 2025.
The company plans to increase its end-to-end revenues, which include Demand-Side Platform and Supply-Side Platform revenues, from 50% to 60% of total revenues. Nexxen also plans to expand its revenue streams by incorporating new VIDAA Automatic Content Recognition Connected TV data revenues through collaborations. These are all recent developments in Nexxen's financial journey.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.