Benchmark Publishes H1 Update Note on TNL Mediagene (NASDAQ: TNMG), Maintains $3.50 Price Target

TOKYO and TAIPEI, Oct. 22, 2025 /PRNewswire/ -- TNL Mediagene (Nasdaq: TNMG) (the "Company"), a Tokyo-based next-generation digital media and data group in Asia, today announced that The Benchmark Company, LLC ("Benchmark") has published an update note with commentary on the Company's H1 2025 earnings results and recent notable developments and maintained its $3.50 per share price target on the Company's shares.

"The outlook for 2H25 remains largely unchanged, though we have observed some delays early in the year due to the rescheduling of media events. While these delays have pushed revenue opportunities to later periods rather than causing outright losses, we are maintaining our FY25 top-line and bottom-line projections. Strategically, the company is navigating a fluid macro and capital market environment, focusing on strengthening its fundamentals through expansion into new language markets, accelerating AI-driven performance, and enhancing content-commerce partnerships. Additionally, the recently announced digital asset treasury (DAT) initiative helps to enhance its financial flexibility. Furthermore, we view the imminent clearance of the CB obligation as a potential near-term catalyst for the stock. We maintain our Buy rating and price target of $3.50," Benchmark analyst Fawne Jiang wrote.

Benchmark initiated research coverage of the Company in May this year.

The report, including disclosures, can be found here.

Important Note Regarding Analyst Reports

Please note that any opinions, estimates or forecasts regarding TNL Mediagene's performance made by research analysts, including Benchmark, are theirs alone and do not represent opinions, forecasts or predictions of TNL Mediagene or its management. TNL Mediagene does not by its reference or distribution imply its endorsement of or concurrence with such information, conclusions or recommendations.

About Benchmark

Founded in 1988 and based in New York City with operations around the country, Benchmark covers institutional and corporate clients with research, sales & trading, and investment banking capabilities. Benchmark has built a reputation for delivering superior client service, market access, and in-depth market and industry expertise. Benchmark provides equity research on more than 400 companies in eight core sectors and across multiple industries with above average growth potential. Benchmark's research mission is to opportunistically expand its footprint in order to provide the unique industry and company insight and access critical to the investment decision-making process of its valued institutional client base.

https://www.benchmarkcompany.com/

About TNL Mediagene

Headquartered in Tokyo, TNL Mediagene was formed in May 2023 through the merger of Taiwan's The News Lens Co., Ltd. and Japan's Mediagene Inc., two of the region's leading independent digital media groups. The company's operations span original and licensed media brands in Japanese, Chinese, and English, covering topics such as news, business, technology, science, food, sports, and lifestyle. It also offers AI-driven advertising services, marketing technology platforms, e-commerce, and innovative solutions tailored to the needs of advertising agencies. Known for its political neutrality, appeal to younger audiences, and high-quality content, TNL Mediagene has approximately 500 employees across Asia, with offices in Japan, Taiwan, and Hong Kong.

https://www.tnlmediagene.com/

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are based on beliefs and assumptions and on information currently available to TNL Mediagene. Forward-looking statements generally relate to future events or TNL Mediagene's future financial or operating performance. In some cases, you can identify forward-looking statements by the following words: "may," "will," "could," "would," "should," "expect," "intend," "plan," "anticipate," "believe," "estimate," "predict," "project," "potential," "continue," "ongoing," "target," "seek" or the negative or plural of these words, or other similar expressions that are predictions or indicate future events or prospects, although not all forward-looking statements contain these words. Forward-looking statements in this communication include, but are not limited to, statements about TNL Mediagene's future business plan and growth strategies and statements by TNL Mediagene's management. Any statements that refer to expectations, projections or other characterizations of future events or circumstances, including strategies or plans, are also forward-looking statements. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by these forward-looking statements. Forward-looking statements in this communication or elsewhere speak only as of the date made. New uncertainties and risks arise from time to time, and it is impossible for TNL Mediagene to predict these events or how they may affect TNL Mediagene. In addition, risks and uncertainties are described in TNL Mediagene's filings with the Securities and Exchange Commission. These filings may identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. TNL Mediagene cannot assure you that the forward-looking statements in this communication will prove to be accurate. There may be additional risks that TNL Mediagene presently does not know or that TNL Mediagene currently does not believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by TNL Mediagene, its directors, officers or employees or any other person. Except as required by applicable law, TNL Mediagene does not have any duty to, and does not intend to, update or revise the forward-looking statements in this communication or elsewhere after the date of this communication. You should, therefore, not rely on these forward-looking statements as representing the views of TNL Mediagene as of any date subsequent to the date of this communication.

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SOURCE TNL Mediagene