Thank you for standing by. My name is Janine, and I will be your conference operator for today. Welcome to Nexxen's third quarter earnings call. At this time, participants are in listen-only mode with a question-and-answer session to follow at the end of the presentation. This call is being recorded, and a replay of today's call will be made available on Nexxen's investor relations website. I will now hand the call over to Billy Eckert, Vice President of Investor Relations, for introductions and the reading of the Safe Harbor Statement. Billy, please go ahead. Thank you, Operator. Good morning, everyone, and welcome to Nexxen's third quarter earnings call. During today's call, we will discuss our financial and operating results for the three and nine months ended September 30th, 2024, as well as our forward-looking guidance. With us on today's call are Ofer Druker, Nexxen's Chief Executive Officer, and Sagi Niri, the company's Chief Financial Officer. This morning, we issued a press release which you can access on our IR website at investors.nexxen.com. During today's conference call, we will make forward-looking statements. All statements other than statements of historical fact could be deemed as forward-looking. We advise caution in reliance on forward-looking statements. These statements include, without limitation, statements and projections regarding our anticipated future financial and operating performance, market opportunity, growth prospects, strategy, financial outlook, partnership and anticipated benefits related to those partnerships, anticipated benefits related to the potential changes in the company's trading security structure, anticipated benefits related to the company's intended growth and platform investments, forward-looking views on macroeconomic and industry conditions, as well as any other statements concerning the expected development, performance, and market share or competitive performance relating to our products or services. All forward-looking statements are based on information available to us as of the date of this call. These statements involve known and unknown risks, uncertainties, and other factors that may cause our actual results to differ materially from those implied by these forward-looking statements, including unexpected changes in our business or unexpected changes in macroeconomic or industry conditions. More detailed information about these risk factors and additional risk factors are set forth in our filings with the U.S. Securities and Exchange Commission, including, but not limited to, those risks and uncertainties listed in the section entitled Risk Factors in our most recent annual report on Form 20-F. Nexxen does not intend to update or alter its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law. Additionally, the company's press release and management statements during this conference call will include discussions of certain measures and financial information in IFRS and non-IFRS terms. We refer you to the company's press release for additional details, including definitions of non-IFRS items and reconciliations of IFRS to non-IFRS results. At this time, it is my pleasure to introduce Ofer Druker, CEO of Nexxen. Ofer, please go ahead. Thanks, Billy. Since late last year, we significantly improved the company's performance. Our improvement is a direct byproduct of our hard work integrating the MobiZ technology, data assets, and talent base, which we accomplished amidst challenging macroeconomic conditions, as well as our rebrand to Nexxen, the combination of which has boosted our standing within the industry. Since early 2024, we achieved significantly better results than in 2023, as our business, sales teams, and markets are on better footing, as evidenced by our ability to generate record Q3 results and accelerate our growth prospects by winning partnerships with some of the world's top companies. After enhancing our tech products, data, and advanced CTV capabilities, Nexxen is being recognized as a strategic partner that can drive superior results regardless of how customers across the industry choose to work with us. It is clear Nexxen is now viewed as the data-first AdTech platform that enhances outcomes and solves key problems across the supply chain with data-driven video, advanced CTV, and audience-targeting capabilities unlike any other in the industry. Our strategy to seamlessly connect our robust data solution to our flexible platform to fuel better customer outcomes is a winning value proposition that is leading more and more partners to select Nexxen as the platform of choice. A key advantage for Nexxen is that we are one of the pioneers and leaders in the concept of owning and operating an end-to-end platform, a trend that others in AdTech are trying to catch up to. Operating a full-stack platform brings efficiency and simplicity to our partners and customers that adopt multiple solutions across our end-to-end ecosystem, typically saves costs while generating improved results and ROI. Our end-to-end platform includes a flexible, full-service, state-of-the-art DSP and SSP centered around a data platform, which is unique and differentiated in the marketplace, and our data strategy strongly complements and significantly advances the benefits created by our full-stack tech infrastructure. Through MobiZ, we gain even greater combined technology and data benefits and reach, which are now providing massive advantages for Nexxen and its customers in the market. Following the integration, our robust data is now fully intertwined into our advanced technology solution across our platform, enabling our partners to better fulfill their needs, better service their clients, and win new accounts. As I will touch on later, we plan to incorporate GenAI more and more across our platform to further enhance our combined tech and data capabilities and competitive advantage to drive even better results and usability for our customers. Customer prospects continue to increasingly embrace our data-powered end-to-end approach. A great example is our partnership with Stagwell, who is continuing to adapt a growing number of solutions within our product suite as they are driving better results when leveraged together. Stagwell recently ran an analysis of our performance against another major DSP for one of its clients. Our combined data and technology offerings significantly outperformed, generating far superior returns on ad spend, a tremendous reduction in cost per customer acquisition, and a notable increase in CPM efficiencies. Data is a key element for the success of any advertising campaign. This is the main reason customers lately have been seeking to partner with Nexxen, as the company has robust and unique data capabilities and assets that fuel better results. Our tools like Nexxen Discovery enable advertisers to find and target audiences, unlock insights, visualize trends, and extend likely-to-engage or buy audience reach to achieve better returns. Advertisers are also able to onboard their first-party data onto our platform and enrich it with our data sets or any other data set of their choosing, improving their results when activating campaigns on Nexxen DSP by enhancing the power of our recently launched data platform. Our data platform combines our data assets, capabilities, and applications in one place and also features a unified ID graph solution. Our ID graph combines and deduplicates several identifiers into a merged graph, enabling increased scale, frequency capping, and better targeting and attribution at the person and household level while furthering our already strong positioning to address change in privacy and identity. We are also adding curated media capabilities to our roster of data offerings. In short, our differentiated ability to connect the data and AdTech supply chain through our data onboarding, audience enrichment activation, and measurement capabilities separate Nexxen from the pack. Our holistic set of data capabilities has also led to new opportunities in growth areas like commerce media. As Kinective Media by United Airlines recently selected Nexxen as a preferred data platform partner. The partnership extends first-party data from United's customers and MileagePlus program members to advertisers leveraging Nexxen for activation across premium offsite CTV, linear, and digital content. Our clients can leverage this data to layer AdTech insights onto campaigns, and Tinuiti, one of the leading performance agencies in the U.S., has been an early adopter, enabling its clients to reach new audiences. We strongly believe in the importance of CTV advertising as it reflects a critical conduit to better understand and more effectively reach likely-to-engage or buy audiences. Our full-stack platform benefits TV advertisers and streaming platforms as it brings unique demand and supply to each side of the transaction while enabling cost efficiencies. We also hold relationships with all the world's major CTV OEMs, provide access to premium supply for many of the largest streaming players, and possess exclusive TV data assets. Within our data offering, we stand out for our unique and advanced CTV data solution, such as our Discovery tool and exclusive global ACR data capabilities enabled by our partnership with VIDAA, which amplify the effectiveness and appeal of our TV-focused tech products. We have built these capabilities over several years, and as a result, today, Nexxen is a leader in CTV advertising data and technology. We believe we are well-positioned to capitalize over the long-term amidst continued growth in ad-supported TV content and live sports growing digital. Our differentiated TV data assets and capabilities led us to win a strategic partnership with The Trade Desk in Q3, resulting in our ACR data segments becoming available on their platform for activation in the U.S., U.K., Canada, and Australia. Nexxen segments enable The Trade Desk clients to unlock unique targeting capabilities that can enhance their TV advertising efforts, while we gain another channel to expand our data licensing revenue over time. We also recently entered a data partnership with StackAdapt, in which our ACR data segments became available for activation in the U.S. within their programmatic platform. The StackAdapt platform connects to our SSP, and this partnership creates increased data licensing revenue opportunities and serves as a testament to customers leveraging several solutions within our ecosystem, underscoring the strategic nature of our platform. Data licensing reflects a significant long-term opportunity for Nexxen. In addition to these recent wins, we are in advanced discussions with many others seeking to license our data, including some of the industry's largest and most recognized brands. As I mentioned, live sports is shifting to CTV, creating opportunities for Nexxen amid strong and growing advertiser demands. Our relationship with Fox, Fubo, and DIRECTV, among others, are driving sports-related tailwinds. For example, Fox has a plethora of live college football inventory, and Nexxen has been able to complement their sales efforts, enabling them to maximize yield and monetization. Additionally, other partners are granting Nexxen access to live NFL and other major sports inventory, driving better monetization for these customers while creating robust and unique opportunities for our advertiser clients. Our data-driven political solution, launched in Q3, also enables us to capitalize on the U.S. Election cycle, particularly in Q4, and generate what we believe will reflect record annual political contribution ex-TAC for Nexxen based on results we have seen to this point in the year. These tools empowered our political advertiser customers to gain deeper insights and maximize audience reach, and our data and audience capabilities drove better targeting and engagement with multicultural voters. This emerged as a key feature that we believe will serve us in the future as many companies increasingly focus on diversity and seek solutions to help them prudently address the topic. In Q3, we added an all-time high, 138 new actively spending first-time advertiser customers. This included 31 new enterprise self-service customers and two new independent agencies leveraging Nexxen's self-serve offering. We also added 61 new supply partners in Q3, highlighted by premium streaming customers and new audio customers like SoundCloud. Finally, we believe inclusive of GenAI and machine learning, Nexxen is uniquely situated to harness the full power of AI as we operate a full-stack platform connected by data, which benefits customers across all steps of their workflows. Over several years, we have developed deep machine learning, AI, and data capabilities, and by integrating GenAI, we can amplify the power of Nexxen's platform across planning, activation, and monetization. We believe Nexxen has an AI edge due to how many data signals we collect and utilize. AI solutions are dependent on robust data to generate accurate signals and exercise on a plethora of it. Because we operate an end-to-end full-stack platform, we can also incorporate AI very broadly and effectively. GenAI can benefit Nexxen across many use cases, including driving incremental opportunities, predictive analytics, data enrichment, customer support automation, content creation and personalization, creative ideation, and optimization. We are now actively integrating GenAI into our core products to drive better usability and customer retention. In recent months, we have built out a GenAI team and partnership roster featuring OpenAI and others to execute on this initiative. In the near future, within our data and planning solution, we anticipate releasing a GenAI-powered in-platform virtual assistant to help customers find and reach new audiences, generate audience segments, and seamlessly activate them on our DSP and SSP. Our first priority is to leverage GenAI to empower our Discovery tool to drive additional value and generate better results around audience creation, gaining granular insights on targets within those created audiences, extending likely-to-engage or buy audience reach, and activating those enhanced and extended audiences on our DSP. We expect this will make Discovery more user-friendly, widen its utility beyond video industry analysts, and further the differentiation and appeal of Nexxen's platform. On activation, we plan to introduce GenAI-powered co-piloting capabilities within our DSP as part of a new and enhanced user interface. These features will proactively extract key insights, find enhancement opportunities, and offer campaign optimization suggestions in real time. We believe these upgrades and others planned in the future will further position our platform technology and data capabilities as the primary driver of better customer results. Looking ahead, we are poised to continue accelerating our growth. In 2025, we expect our recently launched partnership and data licensing opportunities to scale, and our GenAI-fueled enhancement to attract more partners to our platform. This catalyst, alongside our data, CTV, and video capabilities, and flexible platform, positions us to continue capitalizing on large multi-solution revenue opportunities, grow our market share, and showcase our value as the best-in-class strategic partner for the industry. With that, I'm happy to turn the call to Sagi. Thank you, Ofer Druker. In Q3, we generated Contribution ex-TAC of $85.5 million, achieving 12% growth from Q3 2023. Programmatic revenue was $81.6 million in Q3, reflecting 10% growth from Q3 2023, while Contribution ex-TAC from our non-programmatic business line increased slightly year-over-year from a dollar perspective. Growth in Q3 was broad-based, driven by enhanced sales execution, scaling partnerships, and improved market conditions. We observed strength in CTV, video, display, mobile, and PMPs, and increases across 10 of our 11 industry verticals, with the biggest increases reflected in our government, finance, health, and automotive verticals. On the opposite side, in Q3, we observed a year-over-year decrease in our travel verticals. We achieved a major year-over-year increase in CTV revenue in Q3, generating $29.7 million in CTV revenue, which reflected 52% growth from Q3 2023. Q3 2024 was the second-best CTV revenue quarter in Nexxen's history, reflecting strong results for the second consecutive quarter, as CTV revenue represented 36% of programmatic revenue, up from 26% in Q3 2023. CTV revenue growth was driven by benefits related to our partnership with LG Ads, and strong sales execution amid a continued shift by new and existing customers into our premium CTV solutions. We strongly believe that our differentiated advanced TV technology and data solution, robust CTV and OEM partnerships, platform's ability to flexibly cater to both sides of the CTV advertising ecosystem, and access to premium supply positions us to capitalize on what we believe to be a long-term CTV growth opportunity still in early innings. Video revenue continued to account for most of our programmatic revenue, expanding to 71% in Q3 2024 from 66% in Q3 2023. This year-over-year increase was driven by video revenue strength fueled by CTV, outpacing programmatic revenue growth. We continue to expect video revenue to be a primary growth driver over time and for Nexxen to remain one of the most heavily indexed ad tech companies to video on the open internet. Our advanced TV offering and audience extension capabilities across the video advertising ecosystem have emerged as key reasons for major industry players to increasingly choose to partner with Nexxen for their video advertising needs. Elsewhere, Contribution ex-TAC from display grew 21% year-over-year in Q3, while self-service Contribution ex-TAC increased 15%. Contribution ex-TAC from PMPs grew 52%, and Contribution ex-TAC from mobile grew 4% year-over-year. On political Contribution ex-TAC, while we didn't see much of a lift in Q3, as we anticipated, in Q4, we saw this number increase sharply heading into Election Day in the U.S. To this point in 2024, we generated approximately $10 million in political Contribution ex-TAC, which we believe will ultimately result in an annual political Contribution ex-TAC record for Nexxen. In Q3, we also generated Adjusted EBITDA of $31.6 million, which reflected a 49% year-over-year increase from Q3 2023. Our Adjusted EBITDA growth was a byproduct of higher Contribution ex-TAC, improving cost efficiencies and our platform model's ability to generate significant operating leverage, particularly as an increasing number of customers choose to adopt multiple solutions within our ecosystem. Our Adjusted EBITDA margin in Q3 increased to 37% as a percentage of Contribution ex-TAC from 28% in Q3 2023, and we remain confident in our ability to further expand our Adjusted EBITDA margin over time. In Q3, we generated over three times more net cash from operating activities year-over-year, generating $39.9 million in net cash from operating activities compared to $13.1 million in Q3 2023. As of September 30, we had $166.5 million in net cash, $90 million undrawn on our revolving credit facility, and no long-term debt. We also reported non-IFRS diluted earnings per ordinary share of $0.14 in Q3 2024 compared to $0.09 in Q3 2023. During Q3, we repurchased roughly 5.1 million ordinary shares, reflecting an investment of GBP 14.1 million or $18.3 million. From March 1, 2022, through September 30, 2024, we invested around $137.2 million in our repurchase program, buying back roughly 33.4 million ordinary shares or 21.6% of shares outstanding. We received approval to launch a new $50 million ordinary share repurchase program, which is expected to begin on November 19 and expected to continue until May 19 for completion. Our previous program expired on November 1. If shares remain at prices the board believes continue to reflect a discount to fair value following the end of the upcoming program, we will consider initiating an additional one thereafter. With that, I'll turn to our outlook. For full year 2024, we are reaffirming our guidance for contribution ex-TAC in a range of approximately $340 million-$345 million and for programmatic revenue to reflect approximately 90% of full year 2024 revenue. We are also now raising our full year 2024 Adjusted EBITDA guidance to approximately $107 million from approximately $100 million. In Q4 2024, we anticipate achieving a strong quarter from a Contribution ex-TAC and Adjusted EBITDA perspective as we continue to see momentum from Q3 carrying over into the fourth quarter. Our debt-free balance sheet and cash-generating abilities also enable us to continue investing in share repurchases in Q4 2024 and 2025, which we view as one of our key capital allocation priorities, assuming our shares continue to trade at or around levels our board deemed to reflect a discount to fair value. As Ofer mentioned in Q4 2024 and 2025, we will also boost our data and technology investments to further our platform's differentiation and advantages, with a core focus on increasing our AI edge by incorporating GenAI across our core products. Looking ahead, we will continue focusing on expanding revenue relationships with customers through increased spending and multi-solution adoption, attracting new partners to our platform, and growing our data licensing and CTV revenue opportunities. Through a combination of our flexible end-to-end platform's ability to service the industry holistically across formats, devices, and the data and AdTech supply chain, as well as our collective robust and unique data and technology solutions, which help attract and drive better ROI for customers, we believe we remain well-positioned for sustainable long-term growth, expanded profitability, and AdTech leadership. Finally, this morning, we announced that our board approved submission of several changes to our stock exchange structure for shareholders to consider and vote on at our upcoming AGM in December. If the proposal is approved, we believe this evolved structure can significantly benefit Nexxen and its shareholders over the long term. If shareholders approve the proposal, the company intends to exchange its NASDAQ-listed ADRs to NASDAQ-listed ordinary shares and terminate the ADR facility, conduct a reverse stock split at a 2-for-1 ratio, which will allow for a 1-to-1 exchange for ADRs to ordinary shares and delist from the exchange. We believe these proposed changes are beneficial for several reasons. These reasons include, among others, increasing the potential to attract U.S. investors, reducing the complexity of the company's reporting and regulatory compliance structure, consolidating and likely increasing liquidity, and possible inclusion in major indices which the company's shares are precluded from due to its current ADR structure. Additionally, we also believe these proposed changes better align our stock with other U.S.-listed tech companies, help reduce price volatility that can result from being dually listed, and save costs. Our AGM circular provides greater detailed information on this proposal, the timing of the proposed changes, and its effect on trading for our U.S. and U.K. investors. We also intend to host calls for both U.S. and U.K. investors and analysts ahead of our AGM to provide greater details on the proposed changes, timing of those changes, and our strategic rationale. Over the last several quarters, we've enhanced our tech, data, and CTV capabilities, rebranded to clarify our platform's value proposition, and boosted our sales efforts and teams, the combination of which has improved our results, standing within the industry and long-term growth positions. Following these milestones, we believe it is now time for our trading structure to also undergo advancements to further align our business improvements and stronger results with our future capital appreciation potential. We look forward to continuing to work hard to serve our customers, partners, and shareholders, and are excited about these potential changes and for what lies ahead. Operator will now take questions. Thank you. Ladies and gentlemen, we will now begin the question and answer session. I would like to remind everyone for one question, one follow-up. Should you have a question, please press star followed by one on your touch-tone phone, and you will hear a prompt that your hand has been raised. Should you wish to withdraw, please press star followed by the number one again. If you are using a speakerphone, please lift the handset before pressing any keys. Our first question comes from the line of Matt Swanson from RBC Capital Markets. Please go ahead. Hi, thank you guys so much for taking my question. Ofer, I really appreciated the Stagwell example of the head-to-head DSP. Yeah, example. I guess with all these new capabilities and then everything else that you guys are now investing in around data and GenAI, can you just talk a little bit more about how you get customers and advertisers to see the new Nexxen and to kind of go to market with all these new capabilities? Of course. Good morning, Matt. I think that the entry point for us that we are now presenting to new advertisers and clients is our discovery tool. Our discovery tool is a very powerful tool that we basically acquired through the acquisition of Amobee. It's a very amazing ability to basically connect and integrate a lot of data sets into one platform in order to learn about audiences. And basically what we are doing, we are showing through this platform an ability for the advertiser to learn about his potential audience, to learn about the insights and sentiment of the audience regarding his product or service that he's trying to offer, to create audiences, and to activate in very simple, in a very simple mode on our platform, basically on our SSP or DSP that he wants to, and even measure results. So everything is basically now all the data efforts that we are doing, the ability to run and to follow a campaign from end to end and to follow the journey of the campaign across all the systems are basically translated to a very powerful capability on the discovery tool that basically enables the advertisers to do what I just mentioned. And this is how we are basically demonstrating it to them. Of course, advertisers' reaction is very good to the platform and to the ability because it's giving them a lot of capabilities that they cannot find in any other manner in other platforms. Also, the simplicity of the activation of the audience and the learning on our platform is very meaningful because they don't need to take the data out and find a place to activate it, which usually is very complicated, or to upload data. The second thing that we are enabling on the discovery is basically for leading advertisers to upload their data, first-party data in, and enrich it with our data. I will give just one example, which is our TV data that enables them to basically match their data and enrich it with our TV data. It's giving them a lot of insights in order to push more campaigns to CTV, more campaigns to linear if they choose to do that, and so on. It's a unique and very powerful tool. This is basically the window that we are giving to advertisers in order to choose and to understand our capabilities that are getting more mature lately. We feel that we are in the right place and the right time in order to serve our clients both sides, by the way, advertisers and major publishers. I hope that I answered your question. Yeah, no, that's perfect. Maybe this answer is similar, but I think on first blush when people saw the strong growth you had in CTV, the assumption would be maybe there was political contribution, but it sounds like that wasn't really the case in Q3. So could you talk a little bit more just kind of about where you guys are seeing success that led to such a strong growth right there? Of course, so political was part of that, but it's not the major force, of course, that generated this growth. This growth is coming from a few elements. One of them is that we are working on technology for CTV for the last more than five years now, from 2019, and I think that we got to a point that we can really offer to advertisers and to publishers a very strong tech stack that enables them to run their campaign in the most efficient manner, and also to publishers to offer their media in the most efficient manner and to sell audiences and not just media. This is, of course, integrated with a lot of algorithm and machine learning that we built over the years that are optimizing our capability to run on CTV. If you will check back in the last five years, we are talking about it, and we are demonstrating that, basically. The second point is also the fact that we are increasing always the publisher list that we got and the partner list that we got on the CTV front from ability to reach additional users and additional audiences in the market. And it's working very well because point one that I said, our technology capabilities that basically we can prove to these publishers that we can add to them value and we can add to them more revenues that they don't see from other connections that they got through other SSPs because we have also our own sales team. And the third element that helped us this year is also the LG settlement that basically enabled us to acquire much more media, much more quality media in the market, and enabled us to grow our revenues. So this is the major three elements. And the fourth one is what I said before, which is the discovery that basically today people are choosing to buy more CTV. So if you are able to show them the discovery tool, teach them or work with them about their audiences and enable them to learn about their insights and sentiment and also direct it to CTV, it's, of course, an important element that helps us. And the last point, which is not connected to us but connected to the market, I think that the market now is in a better shape. So it's helping people to, in a good market condition, people direct more spend also to CTV. Thank you. Question comes from the line of Laura Martin from Needham. Please go ahead. I'll open it up for you, Ofer. So the first thing you talked a lot about was your end-to-end platform, and you think that gives you competitive advantage. But I would just point out that most of the end-to-end platforms during the quarter grew 12%, and the single-sided platforms, Viant and Trade Desk, grew 25%. So right now, it looks like the single-sided platforms have a big competitive advantage in terms of being adopted by new clients. So if you could talk about why you think end-to-end platforms have an advantage, and if they do, why their growth rate isn't closer to the single-sided platform, I'd be interested in that answer. And then you basically use the word data in almost every sentence. And so if data is important, that means scale is important because The Trade Desk wins. If data is important, it just goes bigger. So is there something you bring to data? Because you don't have as much of it as you're not that big. So is there something you bring to the data that adds value, or do you need to be buying things because you need to be double and triple your current size? Thank you. Thank you, Laura. I will start with your second point about data. You are mentioning data in every sentence because it's incorporated about 90% of our campaigns. Usually now, advertisers are running campaigns, and they're using data in order to enhance basically their performance and enable to get the results that they are looking for. And we basically, already for the last few years, are implementing data. And also we have a very strong DMP, ID Graph, curated media that we're launching that is all about data because we believe that this is the future. That's why I'm mentioning it a lot. And yes, we have a lot of unique stuff that we are having on the data side. I think that we are one of the only companies in the open web that has basically an agreement with the OEM to harvest their ACR data and utilize it in order to get targeting. And we are very dominant and active in the TV world, meaning to gain this data and incorporate it and enrich other data sets in order to get more insights for advertisers about their audiences related to TV. So I think that when you're looking at these two points, meaning more than 90% of our campaigns are using data in a very big manner in order to achieve better results. The second thing, we have a lot of unique data sets. Also to remind you about United that choose to upload their data about MileagePlus on another platform. And we are getting a lot of other sources of data from our activity and from other companies that are basically launching their campaigns, of course, with consent. So I think that on the data element, it's good that we are mentioning it because this is a very important part of what we are doing. Regarding your first point about one-sided campaigns, I think that when you are including The Trade Desk, it's a little bit changing the picture. But The Trade Desk themselves also operate with an SPO, which means that they're already achieving more and more what we call end-to-end capabilities. And also other companies are doing the same in the sector, meaning they are adding different capabilities in order to close the loop and to be able to touch side to side. I think that our advantage comes from the fact that we have fully functional DSP and fully functional SSP on the other side, which is connected to our DMP, which not a lot of companies that we just mentioned got them. So I think that eventually you have so many advantages to have end-to-end solutions which are fully functional because of efficiency, because of privacy, because of data synchronization, because when we talk about GenAI, when you have the ability to basically follow the signals of the data end-to-end, it's giving you a lot of more capabilities to integrate the machine learning and the algorithm that we already built and to utilize them through the GenAI in a much more perfect manner when you are controlling end-to-end solutions. So I strongly believe in that. And I cannot argue with your numbers, but I think that end-to-end solution has a lot of advantages. And in general, I think that the other companies are basically building these capabilities and using different names for that. Those are super helpful. And Sagi, one for you. If you're going to delist basically offshore and be a Nasdaq-listed company, any thoughts about moving to US GAAP out of IFRS at some point? Yes, it's a good question. Yes, we are considering that. We may lose our FPI status going forward. So we acknowledge that somewhere in the timeline, we should move to US GAAP. So it's something that we are taking into consideration. And of course, it will help us to get into more index side. So it's something that is on the table, and probably we will move to that in some point of time. Okay. Thanks very much, guys. Great numbers. Thanks. Thank you. Thank you. Thank you. Our next question comes from the line of Andrew Marok from Raymond James. Please go ahead. Thanks for taking my questions. Maybe one that I think you've touched on in a couple of your previous answers. But Sagi, I heard the phrase strong sales execution a couple of times in your remarks. I guess what's changing there? Is it really just the result of the broader product offering you're able to sell, or are there some maybe internal measures that drove either better efficiency or anything you can call out there? And kind of how does that play into your investment priorities for the sales force over the near term? I will take this one. I think that after the acquisition of Amobi, what we saw is that we needed enough for the rebranding that basically we done last year. We needed to basically sharpen our message in the market. And as you know, when you are just making a move and changing your messaging and changing your not having yet a very sharp message, it's of course affecting your sales teams because they need a very sharp understanding about what you are basically offering and how it will be basically communicated with the tech stack that you got and what are the unique capabilities that we got. So I think that in the last nine months, we see a really good improvement on that. So our sales team are more aligned with our offering. I think that our sales materials, our messaging outside, our rebranding, everything is getting more mature and more sharpened. And it's helping, of course, our salespeople to drive better results. So we didn't change the metrics. We are counting cash and sales basically. But I think that we have a much sharper message inside and outside that is helping us to achieve better results. Again, you want to? Great. No, no, that's fine. Yeah. Okay. I appreciate it. Maybe one quick one on 4Q and Political, if I could. We'd heard from some other companies in the industry maybe a little bit of a crowding out in October as Political kind of heated up. Doesn't sound like that's the case from your neck of the woods. So I guess what's kind of embedded in the 4Q guide in terms of post-election macro assumptions and things like that if you're coming off of a strong Political in October and early November? Thank you. Andrew, I think that as we said earlier, it was on a full year 2024, Political contribution ex-TAC were a record for Nexxen. Having said that, it's not a lot. Some of it, of course, came in Q3, and some of it came in Q4. I think as Ofer mentioned, we are seeing the trend of Q3 carrying into Q4, and we really don't see any drop post political election day revenues, and of course, we have a tight forecast that we are maintaining and a tight pipeline. I think as Ofer mentioned, the growth drivers that are within our company for a long time is now materializing, and I think as Ofer mentioned, data is a huge opportunity, of course. CTV, we are well positioned as we grew more than 50% year over year, and of course, we think our TV capabilities, full stack, clean supply, end-to-end footprint make this a key growth driver that does amazingly with the customers, so I think nothing changed. Political was nice for us. It's not material, and we are moving full steam ahead. Appreciate it. Thank you. Thank you. Thank you. Our next question comes from the line of Matt Condon from Citizens JMP Securities. Please go ahead. One moment. I will put him back on the queue. Please give me one moment. I guess I accidentally dropped him. My apologies. Okay. For now, we will jump to Mark Kelly from Seaport Research Partners. Please go ahead. Great. Thank you. Good morning, everyone. Maybe just two for me. I guess the first one just on the political side. Appreciate the color there. And I know you guys don't really consider it material. But I guess how do we think about seasonality as we go from Q4 to Q1 as we take that political out? That's my first question. And then the second one is, at what point do you think we might see your CTV growth outpace PMP growth, which would imply that we're seeing more open exchange programmatic inventory in CTV? Thank you. Hey, Mark. Thank you for the question. Good morning. I think if we are taking Political, I'm not sure the comparison between Q4 and Q1 is a legit one. As you know, Q1 is the softest Q within the calendar year, and Q4 is the strongest. I think that what we will see, and we talked about it earlier, is that our growth drivers are in place. We are putting a lot of emphasis on new initiatives around AI and GenAI in 2025. We are going to invest there. I think that all the capabilities Ofer mentioned regarding our discovery tools, data sets, end-to-end, and other capabilities that we have in place that brought us to this point of time that we are seeing the growth quarter over quarter. I'm sure that Q1 2025 will be better or much better than Q1 2024 if that's what you are asking. So I think we have all the capabilities we need in place. And as we mentioned on other calls, now it's all around execution. And we are doing a great job on the offense with the team, of course. And we will see greater revenue generation going forward. On your other question about when CTV will bypass PMP, it's not like an apples-to-apples competition. But in general, CTV is making a meaningful part of our PMP activity, basically. But I feel that PMP will be always bigger because on PMP, you have also other activities that are coming from other DSPs in our case that are not buying just CTV. They are buying also video, online video, and they are buying also display. So in general, I don't think that it's like an apple-to-apple competition. And I think that CTV is growing very fast. But I think that PMP is also, in our case, is growing very fast because this is basically following the trend of the market. And the agencies and the advertisers are now buying more programmatic than they used to. So the PMP will continue to grow. But of course, there are other opportunities in the market also. Okay. Thank you both. Thank you. Our last question comes from the line of Matt Condon from Citizens JMP Securities. Please go ahead. Thank you so much for taking my question. My first one is just on the potential for additional commerce media partnerships. It's nice to see the partnership with United. But can you just remind us or update us on the pipeline of additional companies that you are potentially looking to partner with? So it's basically you need a few examples in order to start selling it. And I think that we started now because of the discovery tool that I mentioned before, because of the end-to-end solution, because of our deep reach in media, which is CTV and also other formats. It's becoming more interesting for these types of clients basically to choose to work with us. Because of the fact that we are putting emphasis on our DMP, basically data management platform, that is very robust and enables them basically to load their data, to enrich it with TV data or other data that they choose to bring in or for us to connect and to be able to better target and to better utilize their media. I cannot, of course, share with you the pipeline because it's not something that we can do in this session. There is a very healthy pipeline of companies that are reaching out. We are reaching out to them in order to build it because we feel that people are looking exactly for the solution that we are offering, which is very strong DMP, enabling to upload your data, enrich it, utilize it very easily, and get more insight and sentiment about your audience, and even measure your results after running the campaign. Sorry that I didn't say the correct name, but we can go there. Okay. Yeah. That's great. That's very helpful. My second one is just on your partnership with The Trade Desk. I just wanted to hear if there's any early indications of demand coming through that channel or maybe when we can expect that to start contributing to results potentially in 2025. The relationship with The Trade Desk around the data just started last quarter. And it's building up, meaning we started mostly in Australia, but it's building up. People need to get educated. The traders got, of course, a lot of data sets on their platforms, and we are one of them. But we are building traction with them and with their clients. And it's becoming more and more interesting. And the idea is to open more and more markets together globally because this is basically our strategy. And it's matching some of their strategy. I cannot tell you that it's the full strategy because I'm not representing them. But in general, in this case, they want to expand with us internationally. And that's what we will do in the near future. Thank you so much. Thank you. That concludes our Q&A session. I would now like to turn the call over to Ofer for closing remarks. Thank you. Thank you, everyone, for getting on this call this morning. We strongly believe we made the right strategic decision in the past few years. We got really good tech products to cover what is important to our industry today, which we believe is data, CTV, privacy, GenAI, and very strong programmatic capabilities. Next year, we believe we got what we need from tech and product perspective. And we will put attention back to innovation and execution. And good luck. And we are excited about the future. And I want to use this opportunity to thank our teams and our employees around the globe that are working very hard in the past few months and in general in order to achieve these goals. And we are excited about it. So thank you, everyone, and have a nice weekend. Thank you for joining the conference call for today. You may now disconnect.