Announcement • Feb 19
Nexxen International Ltd. to Report Q4, 2024 Results on Mar 05, 2025 Nexxen International Ltd. announced that they will report Q4, 2024 results Pre-Market on Mar 05, 2025 Announcement • Jan 06
Nexxen Launches Nexxen U, Connected Tv and Digital Convergence Nexxen, announced the launch of Nexxen U Connected TV (“CTV”) and digital convergence, taught by buy- and sell-side industry experts from KINESSO, LG Ad Solutions, Tinuiti, Philo and H/L, among others. An additional component of the program is an Honors Council comprised of rising industry thought leaders spanning agencies, brands, publishers, platforms and broadcasters including KINESSO, Tinuiti, Assembly, Philo and H/L. The council aims to forge cross-marketplace connections and shape Nexxen’s product roadmap to create unique value for clients throughout the company’s end-to-end platform. In 2024, Nexxen surveyed CTV and digital buyers and found that, despite being increasingly tasked with planning programmatic holistically across linear, CTV and digital, 56% of buyers feel they have little-to-no knowledge of the programmatic linear component, inclusive of addressable and data-driven linear. Only 37% feel “very comfortable” in putting together a programmatic linear, CTV and digital video plan. Strikingly, 48% say they are able to devote only one hour or less a week to learning. Nexxen U's designed outcomes for students range from a confident ability in building cross-channel media plans that address identity, media waste and measurement challenges to an intermediate-level understanding of the industry’s current state, including challenges, opportunities and solutions for advertisers, as well as the sell-side perspective. The courses are complemented by exclusive research reports, playbooks, SME interviews and webinars. Valuation Update With 7 Day Price Move • Nov 22
Investor sentiment improves as stock rises 31% After last week's 31% share price gain to UK£3.92, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 13x in the Media industry in the United Kingdom. Total loss to shareholders of 30% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at UK£7.69 per share. Reported Earnings • Nov 17
Third quarter 2024 earnings: EPS and revenues exceed analyst expectations Third quarter 2024 results: EPS: US$0.11 (up from US$0.01 loss in 3Q 2023). Revenue: US$90.2m (up 13% from 3Q 2023). Net income: US$14.5m (up US$15.7m from 3Q 2023). Profit margin: 16% (up from net loss in 3Q 2023). The move to profitability was primarily driven by higher revenue. Revenue exceeded analyst estimates by 1.7%. Earnings per share (EPS) also surpassed analyst estimates by 186%. Revenue is forecast to grow 8.9% p.a. on average during the next 3 years, compared to a 1.3% growth forecast for the Media industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 75 percentage points per year, which is a significant difference in performance. Announcement • Nov 15
Nexxen International Ltd. (AIM:NEXN) announces an Equity Buyback for $50 million worth of its shares. Nexxen International Ltd. (AIM:NEXN) announces a share repurchase program. Under the program, the company will repurchase up to $50 million worth of its shares. The program will continue until May 19, 2025, or until it has been completed. Announcement • Nov 06
Nexxen International Ltd. to Report Q3, 2024 Results on Nov 15, 2024 Nexxen International Ltd. announced that they will report Q3, 2024 results Pre-Market on Nov 15, 2024 Announcement • Oct 29
Nexxen Launches Deal Marketplace for Premium Video, TV and Display Nexxen announced the launch of Deal Marketplace, the newest feature within its demand-side platform, Nexxen DSP. With a centralized interface, Deal Marketplace is built to enable advertisers to better discover, visualize and activate preferred deals across connected TV, online video and display, reducing overall time spent planning and executing campaigns. The marketplace was designed to improve efficiency while also empowering advertisers to make data-backed decisions. Through Nexxen’s Deal Marketplace, advertisers gain transparency into a wide range of premium supply inventory, leveraging advanced audience-targeting capabilities. These deals include TV Audiences – custom audience segments accessible via Nexxen’s proprietary TV Intelligence solution, which combines both linear and streaming viewership data – as well as content-level targeting and first-to-market CTV high-attention and green media options. Deal Marketplace also offers inventory through contextually curated private marketplace (“PMP”) deals, crafted using a blend of content and audience-layered data. Reported Earnings • Aug 23
Second quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2024 results: EPS: US$0.02 (up from US$0.039 loss in 2Q 2023). Revenue: US$88.6m (up 5.1% from 2Q 2023). Net income: US$2.92m (up US$8.53m from 2Q 2023). Profit margin: 3.3% (up from net loss in 2Q 2023). Revenue exceeded analyst estimates by 1.7%. Earnings per share (EPS) missed analyst estimates by 14%. Revenue is forecast to grow 8.8% p.a. on average during the next 3 years, compared to a 2.2% growth forecast for the Media industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 74 percentage points per year, which is a significant difference in performance. Announcement • Aug 08
Nexxen International Ltd. to Report First Half, 2024 Results on Aug 22, 2024 Nexxen International Ltd. announced that they will report first half, 2024 results on Aug 22, 2024 Recent Insider Transactions • Jul 12
CEO & Executive Director recently sold UK£190k worth of stock On the 9th of July, Ofer Druker sold around 82k shares on-market at roughly UK£2.31 per share. This transaction amounted to 1.8% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Ofer has been a net seller over the last 12 months, reducing personal holdings by UK£214k. Recent Insider Transactions Derivative • Jun 27
Key Executive exercised options and sold UK£116k worth of stock On the 22nd of June, Yaniv Carmi exercised options to acquire 48k shares at no cost and sold these for an average price of UK£2.42 per share. This trade did not impact their existing holding. Since September 2023, Yaniv's direct individual holding has increased from 1.87m shares to 2.05m. Company insiders have collectively sold UK£606k more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • May 21
First quarter 2024 earnings released: US$0.05 loss per share (vs US$0.12 loss in 1Q 2023) First quarter 2024 results: US$0.05 loss per share (improved from US$0.12 loss in 1Q 2023). Revenue: US$74.4m (up 3.8% from 1Q 2023). Net loss: US$6.87m (loss narrowed 62% from 1Q 2023). Revenue is forecast to grow 8.3% p.a. on average during the next 2 years, compared to a 2.5% growth forecast for the Media industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 53 percentage points per year, which is a significant difference in performance. Announcement • May 09
Nexxen International Ltd. to Report Q1, 2024 Results on May 20, 2024 Nexxen International Ltd. announced that they will report Q1, 2024 results Pre-Market on May 20, 2024 Recent Insider Transactions Derivative • Mar 29
Key Executive exercised options and sold UK£93k worth of stock On the 25th of March, Yaniv Carmi exercised options to acquire 48k shares at no cost and sold these for an average price of UK£1.93 per share. This trade did not impact their existing holding. Since June 2023, Yaniv's direct individual holding has increased from 1.82m shares to 2.00m. Company insiders have collectively sold UK£599k more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • Mar 07
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: US$0.15 loss per share (down from US$0.15 profit in FY 2022). Revenue: US$332.0m (down 1.0% from FY 2022). Net loss: US$21.5m (down 195% from profit in FY 2022). Revenue exceeded analyst estimates by 1.0%. Earnings per share (EPS) missed analyst estimates by 91%. Revenue is forecast to grow 7.6% p.a. on average during the next 2 years, compared to a 4.2% growth forecast for the Media industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 35 percentage points per year, which is a significant difference in performance. Announcement • Mar 06
Nexxen International Ltd. Provides Earnings Guidance for the Year 2024 Nexxen International Ltd. provided earnings guidance for the year 2024. For the year, the company expects full year 2024 Programmatic revenue to reflect approximately 90% of full year 2024 revenue. Announcement • Feb 27
Nexxen International Ltd. to Report Q4, 2023 Results on Mar 06, 2024 Nexxen International Ltd. announced that they will report Q4, 2023 results Pre-Market on Mar 06, 2024 Announcement • Jan 31
Nexxen Appoints Gretchen Johnson as Chief People Officer Nexxen announced the appointment of Gretchen Johnson as Chief People Officer. In the role, Johnson will lead Nexxen’s Human Resources and Talent Acquisition teams, focusing on culture and employee development to ensure the company continues to hire and retain best-in-class talent. Previously, Johnson served as Chief People Officer at Siprocal, a gaming distribution, monetization and engagement platform. She also holds prior experience in the advertising technology sphere, as Senior Vice President, Human Resources Director at Aegis Media, acquired by Dentsu; and Vice President and Group Director of Talent Management at Digitas, the integrated marketing services brand within Publicis Groupe. Announcement • Jan 17
Nexxen International Ltd. Announces Board Appointments Nexxen International Ltd. announces that, following approval at the Company's Annual General Meeting and the completion of its Nominated Adviser's due diligence, Rhys Summerton and Daniel Kerstein have been appointed to the Board as Non-Executive Directors. Rhys Summerton has 17 years of investment industry experience and was previously the Global Head of Emerging Markets research at Citi where he provided ideas to some of the world's most well-known value investors. Rhys created the Milkwood Fund in 2013 as an independent, contrarian asset manager. The Milkwood Fund is global, long-biased and highly concentrated, with some activism and advisory taking place in smaller names. Daniel Kerstein has 27 years of investment banking experience and was previously a Managing Director in Mergers and Acquisitions at Barclays Investment Bank and Global Head of Activist Defense and ESG Advisory. Daniel has previous investment banking experience at Lehman Brothers and Merrill Lynch. Announcement • Jan 11
Nexxen International Ltd.(NasdaqGM:NEXN) dropped from NASDAQ Composite Index Nexxen International Ltd. has been dropped from Nasdaq Composite Index. Recent Insider Transactions Derivative • Dec 28
Key Executive exercised options and sold UK£91k worth of stock On the 22nd of December, Yaniv Carmi exercised options to acquire 48k shares at no cost and sold these for an average price of UK£1.89 per share. This trade did not impact their existing holding. Since March 2023, Yaniv's direct individual holding has increased from 1.78m shares to 1.95m. Company insiders have collectively sold UK£495k more than they bought, via options and on-market transactions in the last 12 months. Announcement • Dec 27
Tremor International Ltd. Appoints Daniel Kerstein and Rhys Summerton as Non-Executive Director Tremor International Ltd. at its AGM held on 27 December 2023, approved the appointment of Daniel Kerstein and Rhys Summerton as Non-Executive Director. Announcement • Dec 19
Tremor International Ltd (AIM:TRMR) announces an Equity Buyback for $20 million worth of its shares. Tremor International Ltd (AIM:TRMR) announces a share repurchase program. Under the program, the company will repurchase up to $20 million worth of its shares. The shares will be repurchased at a maximum price of no more than 105% of the average middle market closing price of a share on the AIM, for the five business days preceding the date of purchase. The program will be funded through its existing cash resources/reserves. The repurchased shares will be reclassified as dormant shares under the Israeli Companies Law and will be held in treasury. The program will continue until either until June 18, 2024, or until it has been completed. Reported Earnings • Nov 24
Third quarter 2023 earnings: EPS exceeds analyst expectations Third quarter 2023 results: US$0.01 loss per share (in line with 3Q 2022). Revenue: US$80.1m (up 13% from 3Q 2022). Net loss: US$1.20m (loss widened 25% from 3Q 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 75%. Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Media industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Announcement • Nov 24
Nexxen Launches Tv Viewership Audiences in U.K., Expands Tv Intelligence Offering in U.S Nexxen announced the launch of TV Viewership Audiences across the United Kingdom, as well as the expansion of its broader TV Intelligence offering in the United States - a suite of targeting, planning and measurement capabilities, rooted in contextual and exclusive automatic content recognition data. Both the launch and expansion are the result of the consolidation and integration of TV targeting and measurement solutions into the company's Nexxen Discovery platform and demand-side platform ("DSP"). As consumer preferences evolve and streaming services continue to gain traction, particularly in the U.K., advertisers must adapt to effectively reach and engage audiences across linear and streaming platforms. Built to enable brands to reach and measure audiences with precision and scale, Nexxen's TV Viewership Audiences leverages exclusive ACR data to create custom segments based on linear and streaming behaviours, in line with the fast-changing media landscape. It is one of three key pillars within Nexxen's TV Intelligence offering, which include: TV Planning & Insights - Proprietary planning tools that help solve the challenge of who to reach and where to reach them across linear and streaming environments. TV Viewership Audiences (also known as TV Activations) - Robust TV targeting offerings that deliver precise, representative and scalable reach leveraging TV viewership data, in-content-based attributes or media adjacency within linear, CTV and over-the-top ("OTT") TV Measurement - A blend of in-house and partner-supported measurement solutions that tie campaign activation to marketing goals across linear, CTV and digital screens as well as those who want to understand the impact of their linear and digital campaigns on key business outcomes (e.g., tune-in, foot traffic, conversions, actions). TV Planning and Insights and TV Measurement are both expected to launch in the U.K. in 2024. Announcement • Nov 23
Tremor International Ltd, Annual General Meeting, Dec 27, 2023 Tremor International Ltd, Annual General Meeting, Dec 27, 2023, at 12:30 Israel Standard Time. Location: 82 Yigal Alon Street, Tel Aviv, 6789124 Tel Aviv Israel Agenda: To change the Company's name from Tremor International Ltd. to Nexxen International Ltd. (or similar name approved by the Israeli Companies Registrar), including the replacement of all references to Tremor International Ltd. with Nexxen International Ltd. in the articles of association of the Company, be and is hereby approved; to increase the maximum size of the Board of Directors to eleven directors; to re-elect Christopher Stibbs as an independent non-executive director; and to consider other matters. Announcement • Nov 10
Tremor International Ltd to Report Q3, 2023 Results on Nov 22, 2023 Tremor International Ltd announced that they will report Q3, 2023 results at 8:00 AM, GMT Standard Time on Nov 22, 2023 Recent Insider Transactions Derivative • Sep 28
Key Executive exercised options and sold UK£69k worth of stock On the 22nd of September, Yaniv Carmi exercised options to acquire 48k shares at no cost and sold these for an average price of UK£1.43 per share. This trade did not impact their existing holding. Since December 2022, Yaniv's direct individual holding has increased from 1.73m shares to 1.82m. Company insiders have collectively sold UK£933k more than they bought, via options and on-market transactions in the last 12 months. New Risk • Aug 18
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 10% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Significant insider selling over the past 3 months (UK£105k sold). Announcement • Aug 09
Tremor International Ltd to Report Q2, 2023 Results on Aug 17, 2023 Tremor International Ltd announced that they will report Q2, 2023 results Pre-Market on Aug 17, 2023 Recent Insider Transactions • Jul 30
CEO & Executive Director recently sold UK£105k worth of stock On the 26th of July, Ofer Druker sold around 37k shares on-market at roughly UK£2.88 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Ofer has been a net seller over the last 12 months, reducing personal holdings by UK£291k. Recent Insider Transactions Derivative • Jul 06
CEO & Executive Director exercised options and sold UK£65k worth of stock On the 30th of June, Ofer Druker exercised options to acquire 24k shares at no cost and sold these for an average price of UK£2.75 per share. This trade did not impact their existing holding. For the year to December 2018, Ofer's total compensation was 4% salary and 96% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since September 2022, Ofer's direct individual holding has decreased from 3.88m shares to 3.86m. Company insiders have collectively sold UK£1.0m more than they bought, via options and on-market transactions in the last 12 months. Board Change • Jul 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 3 highly experienced directors. Independent Non-Executive Director Lisa Klinger was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Jun 02
First quarter 2023 earnings: EPS exceeds analyst expectations First quarter 2023 results: US$0.12 loss per share (down from US$0.07 profit in 1Q 2022). Revenue: US$71.7m (down 11% from 1Q 2022). Net loss: US$17.9m (down 258% from profit in 1Q 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 10.0%. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 5.9% growth forecast for the Media industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • May 31
Consensus EPS estimates fall by 21% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from US$0.223 to US$0.177 per share. Revenue forecast steady at US$419.2m. Net income forecast to grow 16% next year vs 38% growth forecast for Media industry in the United Kingdom. Consensus price target of UK£12.97 unchanged from last update. Share price rose 8.5% to UK£2.80 over the past week. Valuation Update With 7 Day Price Move • May 22
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to UK£2.55, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 16x in the Media industry in the United Kingdom. Total returns to shareholders of 79% over the past three years. Announcement • May 19
Tremor International Ltd to Report Q1, 2023 Results on May 30, 2023 Tremor International Ltd announced that they will report Q1, 2023 results Pre-Market on May 30, 2023 Recent Insider Transactions • Mar 29
Key Executive recently sold UK£107k worth of stock On the 23rd of March, Yaniv Carmi sold around 48k shares on-market at roughly UK£2.22 per share. This transaction amounted to 2.6% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Yaniv has been a net seller over the last 12 months, reducing personal holdings by UK£1.5m. Major Estimate Revision • Mar 14
Consensus revenue estimates fall by 15% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from US$491.4m to US$417.8m. EPS estimate fell from US$0.424 to US$0.176 per share. Net income forecast to grow 40% next year vs 37% growth forecast for Media industry in the United Kingdom. Consensus price target down from UK£16.97 to UK£15.04. Share price fell 2.2% to UK£2.63 over the past week. Reported Earnings • Mar 08
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: US$0.15 (down from US$0.51 in FY 2021). Revenue: US$335.3m (down 2.0% from FY 2021). Net income: US$22.7m (down 69% from FY 2021). Profit margin: 6.8% (down from 21% in FY 2021). The decrease in margin was primarily driven by higher expenses. Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) also missed analyst estimates by 6.3%. Revenue is forecast to grow 20% p.a. on average during the next 2 years, compared to a 5.2% growth forecast for the Media industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Mar 07
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to UK£2.69, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 20x in the Media industry in the United Kingdom. Total returns to shareholders of 77% over the past three years. Major Estimate Revision • Nov 21
Consensus EPS estimates fall by 42% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from US$366.4m to US$332.8m. EPS estimate also fell from US$0.25 per share to US$0.14 per share. Net income forecast to grow 5.7% next year vs 7.6% growth forecast for Media industry in the United Kingdom. Consensus price target down from UK£16.97 to UK£15.06. Share price was steady at UK£2.86 over the past week. Reported Earnings • Nov 16
Third quarter 2022 earnings: EPS and revenues miss analyst expectations Third quarter 2022 results: US$0.01 loss per share (down from US$0.078 profit in 3Q 2021). Revenue: US$70.9m (down 19% from 3Q 2021). Net loss: US$959.0k (down 108% from profit in 3Q 2021). Revenue missed analyst estimates by 12%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 28% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Media industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 22
Investor sentiment improved over the past week After last week's 16% share price gain to UK£3.43, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 17x in the Media industry in the United Kingdom. Total returns to shareholders of 133% over the past three years. Major Estimate Revision • Sep 14
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast increased from US$324.7m to US$366.5m. EPS estimate fell from US$0.34 to US$0.25. Net income forecast to grow 15% next year vs 8.3% growth forecast for Media industry in the United Kingdom. Consensus price target down from UK£17.82 to UK£17.27. Share price rose 7.5% to UK£3.40 over the past week. Valuation Update With 7 Day Price Move • Sep 05
Investor sentiment deteriorated over the past week After last week's 16% share price decline to UK£3.13, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 20x in the Media industry in the United Kingdom. Total returns to shareholders of 106% over the past three years. Major Estimate Revision • Aug 23
Consensus revenue estimates fall by 11% The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from US$374.8m to US$335.2m. EPS estimate fell from US$0.41 to US$0.31 per share. Net income forecast to grow 13% next year vs 4.4% growth forecast for Media industry in the United Kingdom. Consensus price target down from UK£16.99 to UK£13.09. Share price rose 11% to UK£3.74 over the past week. Reported Earnings • Aug 17
Second quarter 2022 earnings: EPS and revenues miss analyst expectations Second quarter 2022 results: EPS: US$0.047 (down from US$0.17 in 2Q 2021). Revenue: US$75.8m (down 6.8% from 2Q 2021). Net income: US$7.27m (down 70% from 2Q 2021). Profit margin: 9.6% (down from 30% in 2Q 2021). The decrease in margin was primarily driven by higher expenses. Revenue missed analyst estimates by 11%. Earnings per share (EPS) also missed analyst estimates by 44%. Over the next year, revenue is forecast to grow 11%, compared to a 4.8% growth forecast for the Media industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 16
Investor sentiment deteriorated over the past week After last week's 23% share price decline to UK£3.38, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 21x in the Media industry in the United Kingdom. Total returns to shareholders of 95% over the past three years. Valuation Update With 7 Day Price Move • Jun 16
Investor sentiment deteriorated over the past week After last week's 24% share price decline to UK£3.40, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 22x in the Media industry in the United Kingdom. Total returns to shareholders of 184% over the past three years. Valuation Update With 7 Day Price Move • Jun 01
Investor sentiment improved over the past week After last week's 16% share price gain to UK£5.01, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 20x in the Media industry in the United Kingdom. Total returns to shareholders of 282% over the past three years. Reported Earnings • May 18
First quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2022 results: EPS: US$0.07 (down from US$0.096 in 1Q 2021). Revenue: US$80.9m (up 14% from 1Q 2021). Net income: US$11.4m (down 12% from 1Q 2021). Profit margin: 14% (down from 18% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) exceeded analyst estimates by 62%. Over the next year, revenue is forecast to grow 12%, compared to a 10% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has only increased by 46% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • May 02
CEO & Executive Director recently sold UK£532k worth of stock On the 27th of April, Ofer Druker sold around 108k shares on-market at roughly UK£4.94 per share. In the last 3 months, there was an even bigger sale from another insider worth UK£1.4m. Ofer has been a seller over the last 12 months, reducing personal holdings by UK£4.3m. Recent Insider Transactions • Apr 27
CEO & Executive Director recently sold UK£810k worth of stock On the 19th of April, Ofer Druker sold around 160k shares on-market at roughly UK£5.06 per share. In the last 3 months, there was an even bigger sale from another insider worth UK£1.4m. Ofer has been a seller over the last 12 months, reducing personal holdings by UK£5.6m. Board Change • Apr 27
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Lisa Klinger was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Apr 22
CEO & Executive Director recently sold UK£810k worth of stock On the 19th of April, Ofer Druker sold around 160k shares on-market at roughly UK£5.06 per share. In the last 3 months, there was an even bigger sale from another insider worth UK£1.4m. Ofer has been a seller over the last 12 months, reducing personal holdings by UK£5.6m. Recent Insider Transactions Derivative • Mar 30
CEO & Executive Director exercised options and sold UK£608k worth of stock On the 22nd of March, Ofer Druker exercised options to acquire 109k shares at no cost and sold these for an average price of UK£5.56 per share. This trade did not impact their existing holding. For the year to December 2018, Ofer's total compensation was 4% salary and 96% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since June 2021, Ofer's direct individual holding has increased from 2.75m shares to 4.03m. Company insiders have collectively sold UK£12m more than they bought, via options and on-market transactions in the last 12 months. Major Estimate Revision • Mar 03
Consensus EPS estimates increase by 12% The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from US$367.0m to US$382.9m. EPS estimate increased from US$0.37 to US$0.42 per share. Net income forecast to shrink 11% next year vs 42% growth forecast for Media industry in the United Kingdom . Consensus price target broadly unchanged at UK£17.26. Share price rose 10% to UK£5.90 over the past week. Reported Earnings • Feb 25
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: US$0.51 (up from US$0.016 in FY 2020). Revenue: US$341.9m (up 61% from FY 2020). Net income: US$73.2m (up US$71.1m from FY 2020). Profit margin: 21% (up from 1.0% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 6.2%. Earnings per share (EPS) missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 9.9%, compared to a 13% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 48% per year whereas the company’s share price has increased by 53% per year. Recent Insider Transactions Derivative • Dec 26
CEO & Executive Director exercised options and sold UK£594k worth of stock On the 22nd of December, Ofer Druker exercised options to acquire 109k shares at no cost and sold these for an average price of UK£5.43 per share. This trade did not impact their existing holding. For the year to December 2020, Ofer's total compensation was 11% salary and 89% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since March 2021, Ofer's direct individual holding has increased from 1.83m shares to 2.74m. Company insiders have collectively sold UK£12m more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions • Nov 13
CFO & Executive Director recently sold UK£365k worth of stock On the 10th of November, Sagi Niri sold around 48k shares on-market at roughly UK£7.61 per share. This was the largest sale by an insider in the last 3 months. This was Sagi's only on-market trade for the last 12 months. Reported Earnings • Nov 12
Third quarter 2021 earnings released: EPS US$0.078 (vs US$0.10 in 3Q 2020) The company reported a decent third quarter result with improved revenues, although earnings and profit margins were weaker. Third quarter 2021 results: Revenue: US$87.0m (up 131% from 3Q 2020). Net income: US$11.9m (down 13% from 3Q 2020). Profit margin: 14% (down from 36% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 30% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Nov 11
Investor sentiment improved over the past week After last week's 16% share price gain to UK£7.92, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 34x in the Media industry in the United Kingdom. Total returns to shareholders of 151% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at UK£13.62 per share. Recent Insider Transactions Derivative • Oct 07
CEO & Executive Director exercised options and sold UK£1.0m worth of stock On the 1st of October, Ofer Druker exercised options to acquire 109k shares at no cost and sold these for an average price of UK£9.54 per share. This trade did not impact their existing holding. For the year to December 2020, Ofer's total compensation was 11% salary and 89% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since December 2020, Ofer's direct individual holding has increased from 1.67m shares to 2.75m. Company insiders have collectively sold UK£12m more than they bought, via options and on-market transactions in the last 12 months. 