MGNI
Magnite, Inc.16.54
+0.70+4.42%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
CTV drivers, shifts detailed; OpenPath resolved
Q&A unpacked CTV's 32% ex-political surge as broad-based across SMBs like MNTN, brands shifting from linear, and performance marketers, with live events gaining share—organic growth clocked 20% before a $8-9M Q1 DV+ spend shift turbocharged it. OpenPath drag resolved with big buyers, proving no existential threat. AI agents draw high interest but minimal volume, reinforcing infrastructure moats over disruption. Management expects behavioral Google remedies soon, still a share-gain tailwind. CTV derisks the model. Watch antitrust timelines and agency ClearLine ramps.
Key Stats
Market Cap
2.38BP/E (TTM)
41.35Basic EPS (TTM)
0.40Dividend Yield
0%Recent Filings
10-K
FY2025 results
Magnite delivered FY2025 revenue of $714M, up 7% y/y, with CTV surging 9% to $346M and Contribution ex-TAC climbing 17% to $304M, fueled by programmatic CTV momentum. Q4 accelerated the trend, as CTV outpaced annual growth while desktop eked out 1% gains amid open web headwinds. Net income swung to $145M profit from $23M, boosted by a one-time $74M tax benefit from releasing U.S. valuation allowances on sustained profitability. Debt refinanced twice, cutting rates to SOFR+3%; $553M cash supports $205M note maturity in 2026. Macro ad demand swings threaten quarterly momentum.
8-K
Q4 beats, CTV booms, buyback
Magnite posted Q4 revenue of $205.4M, up 6% YoY, with Contribution ex-TAC at $195.1M, up 8% (16% ex-political), driven by CTV surging 20% (32% ex-political) to $93.6M. Adjusted EBITDA hit $83.8M at 43% margin; board greenlit $200M buyback through 2028. CTV now dominates. Q1 guides $157-161M Contribution ex-TAC.
10-Q
Q3 FY2025 results
Magnite posted Q3 revenue of $179M, up 11% y/y, fueled by CTV at 49% of total and up 15% y/y while mobile grew 9%. Operating income hit $25M, up 66% y/y, with gross margins steady at 61%; diluted EPS of $0.13 reflects anti-dilution from convertibles. Cash holds at $482M; total debt ~$556M (Term Loan B at Term SOFR+3%, revolver $171M available, compliant); closed Streamr.ai in Sep 2025 for $10.1M ($8.1M cash, $2M holdback), adding $5.7M goodwill and $5M developed tech (3-year life). OCF $108M YTD. Google antitrust suit risks retaliation.
8-K
Magnite Q3 beats on CTV
Magnite beat Q3 estimates with revenue up 11% to $179.5M and Contribution ex-TAC up 12% to $166.8M, driven by CTV surging 18% (25% ex-political) to $75.8M while DV+ grew 7%. Adjusted EBITDA rose 13% to $57.2M at 34% margin. CTV powers ahead. Q4 guides Contribution ex-TAC to $191-196M; full-year 2026 eyes 11%+ growth.
8-K
Magnite sues Google over ad monopoly
Magnite filed a lawsuit against Google on September 16, 2025, in the U.S. District Court for the Eastern District of Virginia, seeking financial damages and remedies after a federal ruling exposed Google's anticompetitive monopoly in ad tech markets. The suit accuses Google of exclusionary tactics that stifled Magnite's growth and harmed the open-web ecosystem, where Google remains both a key partner and rival generating substantial revenue. Yet litigation risks loom large. Retaliatory moves could disrupt operations and slash income.
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