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NEW YORK, Sept. 10, 2026 (GLOBE NEWSWIRE) -- Magnite (NASDAQ: MGNI), the largest independent sell-side advertising company, and ITN, the ad-tech company focused on modernizing local TV activation, have expanded their partnership to bring agentic capabilities to local linear advertising. After successfully making local linear TV available programmatically, transforming a multi-week buying process into a matter of hours, the companies are taking the next leap forward. By integrating ITN's newly launched seller agent into Magnite’s Orchestration layer, the partnership provides buyers with real-time activation and optimization of high-value local linear inventory and advanced audiences.

Magnite and ITN are working with key partners to pioneer this advancement following the full integration in Q4 2026. By combining ITN’s proprietary NXTv infrastructure with Magnite’s ClearLine execution platform, the partnership will expand demand for local linear TV by increasing efficiency for traditional buyers while broadening access for digital-first buyers.

This agentic workflow enables buyers to move seamlessly from planning to execution in a fraction of the time. Agents generate impression-based forecasts and media plans, enabling teams to instantly review, approve, and activate campaigns. Once approved, execution flows through Magnite’s ClearLine infrastructure, significantly accelerating time-to-launch.

When leveraging Magnite’s buyer agent, advertisers gain access to Magnite’s comprehensive supply ecosystem, unlocking unique advantages for omnichannel buys. Magnite’s buyer agent enables buyers to submit a single RFP and budget across both local linear and CTV, forecast omnichannel reach and book campaigns, and receive streamlined reporting. By removing friction between linear and CTV buying, Magnite empowers advertisers to holistically plan, allocate, and optimize their total TV spend in one place.

“At DMG, we’re always looking for new ways to give our clients access to premium inventory while maintaining the efficiency of digital buying,” said Dano Ehler, Chief Revenue Officer and Co-Founder at Digital Marketing Group (DMG). “The ability to bring linear television inventory into a more streamlined programmatic workflow is an exciting evolution and creates additional opportunities for the advertisers we serve.”

“What ITN and Magnite are building represents an important evolution for local linear television,” said Joe Cerone, Founder of Cerone Advisory Group. “The addition of agentic capabilities builds on the programmatic foundation already in place and brings the industry another step closer to aligning local linear with the technology, workflows and expectations that define modern media buying.”

"Local linear TV remains a powerful medium for reaching audiences but the operational friction of buying local linear TV inventory has historically limited its growth," said Matt McLeggon, SVP, Advanced Solutions at Magnite. "By bringing ITN’s seller agent into Magnite Orchestration, we’re providing a streamlined agentic process that bridges traditional IO-based workflows with programmatic execution. This further unlocks previously untapped local linear inventory for advertisers and builds on our efforts to help local linear broadcasters more effectively monetize."

"ITN has long been focused on modernizing how local linear TV is bought and activated. By connecting our proprietary technology infrastructure directly into Magnite's Orchestration layer, we are eliminating weeks of back-and-forth operational drag," said Craig Sulema, Chief Investment Officer at ITN. "This agentic integration transforms our vision for programmatic local linear TV into a frictionless reality, enabling both TV and digital buyers to execute local linear campaigns with unprecedented speed, efficiency and scale."

About Magnite

We’re Magnite (NASDAQ: MGNI), the world’s largest independent sell-side advertising company. Publishers use our technology to monetize their content across all screens and formats including CTV, online video, display, and audio. The world’s leading agencies and brands trust our platform to access brand-safe, high-quality ad inventory and execute billions of advertising transactions each month. Anchored in bustling New York City, sunny Los Angeles, mile high Denver, historic London, colorful Singapore, and down under in Sydney, Magnite has offices across North America, EMEA, LATAM, and APAC.

Media Contact:
Charlstie Veith
[email protected]

Investor Contact:
Nick Kormeluk
[email protected]

About ITN

ITN is an ad tech company focused on modernizing how local TV inventory is bought and activated. Its proprietary technology infrastructure powers managed and self-service solutions that simplify and automate how local TV is transacted across broadcast, cable and streaming at the national, regional and local levels. ITN helps agencies operate more efficiently and deliver greater value for their clients while creating new demand opportunities for media suppliers. By bringing local TV into the programmatic era, ITN enables advertisers to realize the reach and impact of local TV with more digital-like execution. For more information, visit itn.tv

Media Contact:
Craig Sulema
[email protected]

Expanded partnership with Magnite brings Telly's Home Screen Ads to programmatic buyers including The Trade Desk and Teads, introducing a new era of persistent, context-aware television advertising.

LOS ANGELES--(BUSINESS WIRE)--Telly, the smartest TV ever built and offered at the revolutionary price of free, today announced the expansion of its partnership with Magnite (NASDAQ: MGNI), the largest independent sell-side advertising company. For the first time, advertisers can buy Telly's Home Screen ads programmatically through Magnite. Building on Telly's use of Magnite's SpringServe as its primary ad server, the expanded partnership now enables Home Screen campaigns to be activated and delivered through the same platform, bringing together premium CTV inventory, content intelligence and breakthrough extended-duration creative. Built on the IAB's Native Tile ad standard, Telly's persistent Home Screen Ads are always-visible placements that live alongside the viewing experience within Telly’s integrated second smart screen - not inside the traditional commercial break.

Instead of appearing only during commercial breaks, Telly's Home Screen ads remain visible while audiences are actively engaged with the content they came to watch. Every campaign delivers 100% share of voice and 100% viewability for its guaranteed 30 second standard duration, with advertisers able to extend campaigns in 30-second increments based on the targeting objectives that include contextual adjacency, co-viewing and audience insights.

As part of the launch, Telly is introducing new duration-based programmatic marketplaces through Magnite, including a first-of-its-kind Five-Minute Private Marketplace (PMP) that combines guaranteed five-minute brand presence with premium content signals such as live sports, movies, gaming and comedy.

"The future of television advertising isn't replacing the commercial break, it's expanding what television advertising can be," said Mike Shehan, Chief Revenue Officer of Telly. “The most engaging brand experiences don't interrupt what consumers love, they become part of it. Telly combines interactive display, premium video and content intelligence to help brands stay present throughout the viewing experience, and together with Magnite we're making those experiences available programmatically for the first time."

Unlike traditional television advertising, Telly's extended duration Home Screen ads combine three advantages no other CTV format delivers together:

Greater Discovery. Extended duration gives consumers more time to discover, explore and engage with brands. Deeper Consideration. Longer exposure builds familiarity that drives stronger business outcomes. Presence During Every Moment That Matters. Persistent Tiles keep brands visible while viewers are engaged with content—not just during commercial breaks. The announcement follows campaign results demonstrating that duration changes outcomes.

Streaming Subscription Campaign: For a major entertainment brand, five-minute campaigns generated 5X more app opens than 30-second campaigns. More importantly, those incremental visitors were significantly more valuable. Consumers exposed to the five-minute campaigns were 22% more likely to convert into paying subscribers after opening the app. National QSR Campaign: A two-minute Home Screen campaign delivered nearly 5X higher engagement than a traditional 30-second television campaign. Across both campaigns and categories, the conclusion was clear: more time doesn't simply increase awareness, it changes consumer behavior.

Through Magnite, advertisers can now activate Telly campaigns programmatically while combining persistent Home Screen ads with content intelligence targeting and extended-duration creative.

"Our partnership with Telly introduces a new opportunity to move beyond the traditional commercial break," said Mike Laband, Group SVP, Revenue at Magnite. "Telly has created a truly differentiated, CTV-native advertising experience. By combining premium content signals with persistent, non-disruptive Home Screen creative enabled through Magnite's technology, we're giving buyers access to a unique advertising opportunity that feels native to streaming while helping consumers stay present throughout the viewing experience."

Major buyers from across the industry have also signed on to Telly’s programmatic home screen marketplace including The Trade Desk and Teads.

"CTV has given advertisers precision and scale to buy premium content on the largest screen in the home, and with Telly's Home Screen inventory, that scale just got significantly larger," said Taylor Ash, Vice President of Inventory Development at The Trade Desk. "The Home Screen is the launch point for every viewer's digital media experience – streaming TV, music, gaming and more. This is key inventory for every media plan."

“Advertisers are looking for innovative ways to build sustained consumer connection beyond standard ad breaks,” said Simon Klein, SVP, Commercial Strategy, CTV at Teads. “By bringing Telly’s persistent HomeScreen formats into Teads’ programmatic platform via Magnite, we’re enabling brands and agencies to pair high-impact, extended-duration creative with the targeting precision, omnichannel scale, and buying efficiency they rely on from Teads. We are thrilled to be leading the market as an initial DSP partner in unlocking this next-generation CTV capability.”

"Advertisers no longer have to choose between the scale and efficiency of programmatic buying and breakthrough creative experiences," Shehan added. "With Telly, they can have both."

About Telly

Telly is the smartest TV ever built—offered at the revolutionary price of free. Reserve yours today at www.telly.com and see why the living room will never be the same.

PARIS, Sept. 08, 2026 (GLOBE NEWSWIRE) -- Magnite (NASDAQ:MGNI), the largest independent sell-side advertising company, today announced the launch of its first agentic campaign in EMEA in collaboration with the trading desk, Amnet France. The results offer a real-world look at the benefits agentic buying can have on improving the outcomes of premium CTV campaigns.

Using natural language prompts, Amnet leveraged Magnite’s buyer agent to build and activate a video campaign through ClearLine on behalf of a leading automotive manufacturer. Through Magnite Orchestration, the Magnite buyer agent communicated with the Magnite seller agent to identify and activate relevant premium CTV supply aligned with the campaign objectives, streamlining the path from buyer intent to execution. Rather than manually configuring campaign settings, identifying publishers and creating deal structures, the Amnet team was able to spend more time focused on strategy.

The results included an approximate 70% reduction in campaign setup time and a strong video view-through rate (VTR) of 95. The agent also surfaced relevant inventory and optimisation opportunities that may not have been identified through traditional manual workflows, helping teams make more informed campaign decisions.

Barbara Thuillier-Romeri, Ad-Tech Manager, Amnet France said: "As AI continues to mature, we wanted to understand how agentic technology could deliver practical value and complement the way we operate today. Working with Magnite gave us the opportunity to evaluate how their buyer agent could enhance the way our teams execute campaigns and drive stronger outcomes. We look forward to leveraging more of the product’s capabilities going forward, and are excited by the potential for this to evolve how we approach campaigns.”

“AI is only as valuable as the inventory and data it can access," added Edouard Schmidt, Commercial Director, France at Magnite. “Because Magnite’s buyer agent is embedded directly into the buying workflow, it can surface optimisation opportunities as they emerge and allows buyers to act on them faster to improve both operational efficiency and campaign performance. The results achieved with Amnet reinforce the value of connecting intelligence directly to execution, and we're excited to build on that momentum with more clients across EMEA.”

About Magnite
We’re Magnite (NASDAQ: MGNI), the world’s largest independent sell-side advertising company. Publishers use our technology to monetize their content across all screens and formats including CTV, online video, display, and audio. The world’s leading agencies and brands trust our platform to access brand-safe, high-quality ad inventory and execute billions of advertising transactions each month. Anchored in bustling New York City, sunny Los Angeles, mile high Denver, historic London, colorful Singapore, and down under in Sydney, Magnite has offices across North America, EMEA, LATAM, and APAC.

About Amnet
Founded in 2012, Amnet France is a leading programmatic trading desk helping more than 200 advertisers in France and internationally, helping brands address a wide range of digital marketing challenges, from brand building and performance marketing to drive-to-store strategies, audience creation and data-driven targeting. Amnet delivers programmatic campaigns across all major digital channels, including Display, Video, Social, Audio, Connected TV (CTV), and Digital Out-of-Home (DOOH).

Media Contact:
Eric Van Damme: [email protected]

Paul Caine, Director at Magnite (MGNI +1.46%), sold 7,500 shares of common stock on Aug. 14, 2026, according to an SEC Form 4 filing.

Transaction summaryMetricValueShares sold7,500Transaction value$187,500Post-transaction shares (directly held)149,901Post-transaction value$3.7 millionTransaction value based on SEC Form 4 weighted average sale price ($25); post-transaction value based on Aug. 14, 2026, market close ($24.73).

Key questionsWhat was the primary driver of this transaction?
The sale was executed according to a Rule 10b5-1 trading plan adopted in August 2025, which allows insiders to divest shares on a pre-determined schedule to manage personal liquidity and portfolio diversification.How does this disposal affect the insider's overall equity position?
Caine reduced his direct stake by 5% in this transaction but continues to hold 149,901 shares, representing a significant long-term commitment to the company.What has been the recent performance context for Magnite stock?
As of the Aug. 14, 2026, transaction date, the company delivered a 5% one-year return, with the insider's remaining direct equity valued at approximately $3.7 million.Company OverviewMetricValueShare Price (as of market close 2026-08-17)$24.19Market Capitalization$3.4 billionRevenue (TTM)$742 millionNet Income (TTM)$166.9 millionCompany SnapshotMagnite operates an independent, global digital advertising marketplace platform that provides publishers with applications and tools to manage and monetize their ad inventory across connected TV, mobile applications, and websites.The company generates revenue through a two-sided marketplace model, delivering services and technology solutions to both supply side participants (publishers) and demand-side participants (advertisers, agencies, and demand-side platforms) who utilize the platform to transact digital advertising inventory.Magnite serves a diverse customer base, including digital publishers, advertising agencies, agency trading desks, demand-side platforms, and advertisers seeking to optimize programmatic advertising campaigns across multiple digital channels.Magnite is a leading independent platform in the programmatic advertising ecosystem, with a market capitalization of $3.4 billion and TTM revenue of $742 million. The company operates a sophisticated two-sided marketplace that connects publishers seeking to monetize digital content with advertisers and agencies seeking efficient audience reach, positioning itself as a critical infrastructure provider in the digital advertising supply chain. With 971 employees and a demonstrated net income of $166.9 million TTM, Magnite leverages its independent status and comprehensive platform capabilities to maintain competitive advantages in an increasingly consolidated advertising technology landscape.

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What this transaction means for investorsGiven that this was a transaction under a pre-established plan, shareholders shouldn't worry about this sale serving as a signal that something is wrong with the company. Instead, it is just a routine transaction in which Caine sold 7,500 shares. He still maintains nearly 150,000 in direct shares, so he has plenty on the line and should want the company to perform well as much as any other shareholder.

While the Magnite stock price is down 10% over the last 12 months as of this writing, it has also climbed 46% thus far in 2026. In comparison, the S&P 500 has climbed 12.6% so far in 2026. For shareholders wondering more about the outlook for the company, analysts are typically bullish on the stock. According to CNN, of the 18 analysts with price targets on Magnite, 83% rate the stock as a buy, while 17% rate it a hold. Among those analysts, the median one-year price target is $27, a 13.9% gain from today's price. The highest price target from that group is $40, while the lowest is $22.

Jack Delaney has no position in any of the stocks mentioned. The Motley Fool recommends Magnite. The Motley Fool has a disclosure policy.

NEW YORK, Aug. 20, 2026 (GLOBE NEWSWIRE) -- Magnite (NASDAQ: MGNI), the largest independent sell-side advertising company, today released Inside the Live Experience: Live Viewing Behavior and Ad Engagement in the US, a new study exploring how Americans engage with live streaming and the advertising within it. The research finds that live streaming has expanded beyond sports into news, entertainment and cultural events, while co-viewing and engagement with content surrounding live programming are extending the ways advertisers can reach and influence viewers.

According to the research, CTV further amplifies the live opportunity, with nearly all respondents stating they use CTV to stream live content, and 69% are always or often watching that content with others. Engagement also extends beyond the live broadcast as 46% regularly watch pre-event coverage and 48% regularly watch post-event coverage, while 59% say advertising across both live and shoulder content increases their likelihood to purchase from a brand.

Streamers consider the live streaming experience equal to or better than traditional TV, with 61% saying streaming offers greater content variety and 56% preferring its overall viewing experience. Streaming services also ranked as the most trusted platform for delivering a high-quality live experience, ahead of traditional TV and video-sharing platforms.

“What this research illustrates is that the opportunity around live streaming doesn’t begin and end with the main event,” said Mike Dupree, SVP, Demand at Magnite. “The content surrounding live programming is an increasingly important part of the viewing experience and extends engagement beyond the broadcast itself. As audiences also tune into more types of live content and view advertising in these environments as relevant and trustworthy, there’s significant potential for brands to build reach and impact across the full live window.”

Additional key findings from the study include:

66% of consumers remember an ad from their last live viewing session.79% are open to the same or more advertising per hour in live content compared with on-demand.57% think brands that advertise during a live stream are more premium, while 51% see them as more trustworthy.55% always or often use a second screen while streaming content on a TV, with 24% using that second screen to shop online. Methodology
Magnite engaged Bounce Insights to execute an online survey of over 800 Americans aged 18+ who watch live content via streaming services, exploring their live viewing behaviors and advertising perceptions.

About Magnite
We’re Magnite (NASDAQ: MGNI), the world’s largest independent sell-side advertising company. Publishers use our technology to monetize their content across all screens and formats including CTV, online video, display, and audio. The world’s leading agencies and brands trust our platform to access brand-safe, high-quality ad inventory and execute billions of advertising transactions each month. Anchored in bustling New York City, sunny Los Angeles, mile high Denver, historic London, colorful Singapore, and down under in Sydney, Magnite has offices across North America, EMEA, LATAM, and APAC.

Media Contact: 
Megan Hughes
[email protected]

Roku's Ad Business Is Growing—These 3 Stocks Could Be NextMagnite NASDAQ: MGNI is positioning itself as a key infrastructure provider for programmatic connected-TV advertising as streaming platforms, television manufacturers and commerce-media businesses seek technology partners to manage inventory, data and demand, according to Head of Investor Relations Nick Kormeluk.

Speaking at BofA Global Research’s small- and mid-cap executive insights event, Kormeluk described Magnite as a supply-side platform that helps publishers sell digital advertising inventory by connecting it with demand from advertisers. The company operates across connected TV, mobile applications and web, digital out-of-home and other channels, though Kormeluk emphasized the company’s CTV opportunity.

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CTV Relationships and Market Concentration As Digital Ad Spend Hits a High, These Firms Could Reap RewardsKormeluk said connected-TV inventory is more concentrated than traditional open-web advertising, with about 30 large global partners representing roughly 80% of global inventory. He said Magnite has relationships with all of those partners except YouTube and has become a primary access point for buyers seeking CTV inventory.

He said the company’s relationships with partners including Disney, Roku, Fox and Netflix have expanded over time. Rather than serving solely as another bidder for inventory, Magnite seeks to provide technology for ad serving, mediation, demand generation, yield management, identity and audience creation.

3 Stocks Offering Strong Value and Stability“We have shown that we are that partner that can execute and bring people to the programmatic market,” Kormeluk said.

Kormeluk also said the company’s CTV relationships have created a “halo effect” in its broader digital-video-plus, or DV+, business. He cited commerce-media partners including United Airlines, Pinterest, Best Buy, Redfin, RE/MAX, Expedia and PayPal, saying Magnite now has 21 partners relying on it exclusively as their programmatic partner.

Walmart and Samsung Opportunities Among recent partnerships, Kormeluk discussed Walmart’s expanding advertising ambitions following its Vizio acquisition plans and its announced purchase of demand-side platform Vibe. He said Walmart has tapped Magnite to help make its user data available not only on Vizio inventory but also across other inventory sources.

Kormeluk said the opportunity with Walmart was not contributing to Magnite’s results as of the second quarter and characterized it as a future growth opportunity.

He also highlighted Magnite’s win to provide ad-serving technology for Samsung’s television home screen. Kormeluk said Samsung had historically sold that inventory through direct sales and insertion orders rather than through an ad server. Magnite won the business through a request-for-proposal process, he said.

Samsung has the largest global installed base of smart TVs, according to Kormeluk, who added that home-screen advertising can account for as much as 30% of advertising revenue for other TV original equipment manufacturers. He said the Samsung home-screen opportunity similarly had not contributed revenue in the second quarter.

Data, Curation and AI Workflows Kormeluk said data activation is increasingly shifting toward the supply side because CTV publishers have greater control over user identifiers and data matches than publishers in the fragmented open-web market. Magnite does not charge publishers directly for using their first-party data, he said, but the data can help generate higher CPMs by improving advertisers’ ability to target desired audiences.

Magnite can also help partners monetize data beyond their owned-and-operated properties. Kormeluk cited LG’s automatic content recognition data as an example, saying Magnite can help sell that data for use across non-LG inventory and share the resulting revenue with the partner.

The company is also developing agentic advertising capabilities through products including Magnite Orchestration. Kormeluk said the technology is intended to reduce friction in advertising workflows that have traditionally relied on APIs and manual configuration.

He said the platform can support buyer agents, seller agents and mediation agents while also providing infrastructure for privacy protections, payment workflows and inventory monetization. Magnite is targeting agency spending still conducted through insertion orders, which Kormeluk described as a process that can take weeks to develop, test and refine. He said Magnite’s tools can complete comparable testing and creative refinements in minutes.

Growth Priorities and Margin Outlook Kormeluk said Magnite’s core operating priority is to grow advertising spend and revenue rather than pursue take-rate expansion. He said the company aims to add services and inventory opportunities for publishers while maintaining a cost structure that makes outsourcing to Magnite more attractive than building technology internally.

He said the company has raised its EBITDA-margin guidance three times during the year, most recently to at least 37%. Kormeluk said Magnite’s second-quarter top-line beat of $10 million translated into an $8 million EBITDA beat, which he said reflected the company’s expected high incremental flow-through once revenue growth exceeds 10%.

Magnite is also focused on reducing its cost per impression, he said. The company has moved portions of its CTV infrastructure to a hybrid model, using on-premises systems for predictable volume and cloud capacity for demand spikes. Kormeluk said the company has reduced cost per impression by strong double-digit percentages annually.

On investor concerns, Kormeluk said the main question centers on the outlook for DV+. Open-web advertising faces pressure, while mobile app, streaming, audio, digital out-of-home and commerce media have healthier trends, he said. He characterized the near-term DV+ outlook as generally flat, while arguing that faster-growing parts of the business should become a larger portion of the mix over time.

About Magnite (NASDAQ:MGNI)Magnite, Inc NASDAQ: MGNI operates as an independent sell-side advertising platform that enables publishers and digital media owners to monetize their inventory through programmatic advertising. Formed in 2020 through the merger of Rubicon Project and Telaria, Magnite combines technologies for desktop, mobile, connected television (CTV) and digital out-of-home (DOOH) ad exchanges. The company provides an end-to-end solution designed to help media owners optimize yield across open marketplaces, private marketplaces and programmatic guaranteed deals.

At the core of Magnite's offering is its supply-side platform (SSP), which connects publishers' ad impressions to demand-side platforms (DSPs) through real-time bidding (RTB).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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As Digital Ad Spend Hits a High, These Firms Could Reap RewardsMagnite NASDAQ: MGNI is seeing accelerating growth in connected television advertising as demand broadens beyond large brands and agencies, according to Nick Kormeluk, the company’s senior vice president of investor relations, speaking at a KeyBanc event.

Kormeluk said the company’s CTV business had moved from better-than-mid-teens growth to growth rates in the 20% range during the second half of the prior year. He said CTV growth reached 36% in the company’s latest quarter and characterized the performance as broad-based across partners and demand channels.

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3 Stocks Offering Strong Value and Stability“We’ve really seen demand in CTV broaden out,” Kormeluk said. He cited small and medium-sized businesses, sports-focused advertisers, self-service marketplaces, agencies and demand-side platforms targeting SMB customers as contributors to growth.

CTV market structure supports supply-side platforms Kormeluk said CTV’s concentrated publisher landscape differs materially from the broader open internet. While Magnite has no publisher representing even 1% of its revenue in its non-CTV DV+ business, he said 30 global publishers account for 80% of worldwide CTV inventory.

The Trade Desk: When Sell the News Turns Into Buy the DipThat concentration, along with publishers’ concerns about protecting their data and audience identifiers, has increased the value of trusted independent supply-side partners, he said. Kormeluk added that programmatic selling can help broadcasters improve profitability because it can provide a lower-cost route to market than a traditional sales force.

He said Magnite’s ability to serve multiple forms of advertising demand—including DSPs, agencies and self-service buyers—has helped the company participate across the CTV market.

However, Kormeluk said the company remains in the early stages of capturing potential growth from live sports and SMB advertising. He noted that live sports is generally viewed as accounting for about 40% of television ad spending, but said a more substantial shift to CTV would produce growth far above the company’s current mid-30% rate.

Magnite only began participating in NFL advertising last year after ESPN used Disney’s technology stack to make inventory available programmatically, he said. The company sees further opportunity in NFL, NCAA football and March Madness advertising, among other sports programming.

Commerce media and web traffic pressures Kormeluk described commerce media as a potential growth area for Magnite’s DV+ business. He said the company can help commerce-data owners use their own data to improve monetization of owned advertising inventory, as well as create revenue opportunities by applying that data to third-party web, app and CTV inventory.

Examples cited included data from Walmart, Pinterest and United Airlines. Kormeluk said Magnite’s commerce-media relationships are often exclusive, contrasting with the more fragmented market structure for conventional open-web supply-side platforms.

“In commerce media, just about all of our announcements are exclusive,” he said, adding that exclusivity gives buyers a greater incentive to engage with the platform when it is the only way to access a particular inventory source or dataset.

At the same time, Kormeluk acknowledged pressure on web publishers from Google AI Overviews and lower web referrals relative to crawling activity. He said some publishers are responding by prioritizing mobile apps, logged-in users, premium offerings and data-driven targeting. Magnite’s web business has declined in the high single digits, he said.

He also discussed the potential implications of remedies in the U.S. Department of Justice’s ad-tech case against Google. Kormeluk said behavioral remedies would be more meaningful to Magnite than structural remedies because they could more quickly alter market-share dynamics. He pointed specifically to the possibility of separating advantages between Google’s ad server and exchange, including how impression-level data and pricing information are shared.

AI tools and financial outlook Magnite has been testing agentic AI capabilities intended to streamline advertising workflows, Kormeluk said. The company has introduced mediation agents for publisher yield management, seller agents to help define audiences, buyer agents and an orchestration layer designed to connect buyer and seller agents.

He said the tools are intended to shorten a process that can currently take agencies six to eight weeks—from campaign planning and creative versions through testing and analysis—to about 10 minutes. The company is initially targeting insertion orders that agencies still manage manually.

Kormeluk cautioned that the technology is not yet expected to be a major near-term revenue contributor, though he said adoption has been among the fastest Magnite has seen for a new product.

Magnite raised its growth outlook to 13% to 14%, according to Kormeluk. He said the outlook implies EBITDA growth of about 20% and free-cash-flow growth of more than 40% this year. The company raised its adjusted EBITDA margin target to more than 37%, from a prior range around 35% to 35.5%. Kormeluk said Magnite’s operating model becomes margin-neutral at roughly 7% revenue growth and generates approximately 80% EBITDA flow-through from incremental revenue above 10% growth. In the latest quarter, he said a $10 million ex-TAC top-line beat translated into an $8 million adjusted EBITDA beat.

Looking ahead, Kormeluk said CTV programmatic advertising is “coming into its own,” while DV+ should retain growth opportunities in mobile apps and commerce media even if it expands more slowly than CTV.

About Magnite (NASDAQ:MGNI)Magnite, Inc NASDAQ: MGNI operates as an independent sell-side advertising platform that enables publishers and digital media owners to monetize their inventory through programmatic advertising. Formed in 2020 through the merger of Rubicon Project and Telaria, Magnite combines technologies for desktop, mobile, connected television (CTV) and digital out-of-home (DOOH) ad exchanges. The company provides an end-to-end solution designed to help media owners optimize yield across open marketplaces, private marketplaces and programmatic guaranteed deals.

At the core of Magnite's offering is its supply-side platform (SSP), which connects publishers' ad impressions to demand-side platforms (DSPs) through real-time bidding (RTB).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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Posted by Defense World Staff on Aug 10th, 2026

Magnite, Inc. (NASDAQ:MGNI – Get Free Report) Director Douglas Knopper sold 37,337 shares of the stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $22.72, for a total value of $848,296.64. Following the transaction, the director owned 88,473 shares of the company’s stock, valued at approximately $2,010,106.56. This trade represents a 29.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Magnite Price Performance MGNI stock opened at $24.72 on Monday. The company has a current ratio of 1.02, a quick ratio of 1.03 and a debt-to-equity ratio of 0.37. The firm has a 50 day simple moving average of $18.69 and a 200-day simple moving average of $14.94. The company has a market capitalization of $3.54 billion, a P/E ratio of 22.68, a PEG ratio of 1.51 and a beta of 2.26. Magnite, Inc. has a twelve month low of $10.82 and a twelve month high of $26.65.

Magnite (NASDAQ:MGNI – Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.02. Magnite had a net margin of 22.49% and a return on equity of 9.33%. The firm had revenue of $192.82 million for the quarter, compared to analysts’ expectations of $179.15 million. During the same period in the prior year, the company posted $0.20 earnings per share. The firm’s quarterly revenue was up 11.3% on a year-over-year basis. On average, equities research analysts predict that Magnite, Inc. will post 0.44 earnings per share for the current fiscal year.

Magnite News Summary Here are the key news stories impacting Magnite this week:

Positive Sentiment: Better-than-expected Q2 results: Magnite reported adjusted earnings of $0.26 per share, exceeding the $0.24 consensus estimate, while revenue rose 11.3% year over year to $192.82 million, well above the $179.15 million forecast. Magnite earnings report Positive Sentiment: Higher outlook: The company raised its full-year 2026 forecast to 13%-14% contribution ex-TAC growth and at least a 37% adjusted EBITDA margin. Magnite also guided third-quarter revenue to $188 million-$192 million, above the $185.2 million analyst consensus. Magnite raises 2026 outlook Positive Sentiment: Analyst optimism and CTV focus: Following the earnings beat, Rosenblatt raised its price target to $40 and maintained a buy rating, while Susquehanna lifted its target to $30 with a positive rating and B. Riley raised its target to $27 with a buy rating. Coverage also highlighted connected TV growth as an important catalyst. Magnite analyst forecast increases Neutral Sentiment: Ad-tech peer read-through: Magnite held firm while Trade Desk fell sharply after its earnings report, suggesting investors are distinguishing between stronger and weaker companies in the digital advertising sector. Ad-tech stock comparison Negative Sentiment: Valuation caution: Wells Fargo raised its price target modestly to $22 but retained an equal-weight rating. The target remains below Magnite’s current trading level, signaling limited near-term upside in that analyst’s view. Wells Fargo Magnite price target Analyst Upgrades and Downgrades A number of equities analysts recently commented on MGNI shares. Rosenblatt Securities lifted their price target on Magnite from $39.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday. BTIG Research increased their target price on Magnite from $20.00 to $27.00 and gave the stock a “buy” rating in a report on Thursday. Benchmark lifted their target price on Magnite from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday. Royal Bank Of Canada boosted their price target on Magnite from $20.00 to $27.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Susquehanna upped their price target on Magnite from $22.00 to $30.00 and gave the company a “positive” rating in a research report on Thursday. Nine analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $28.30.

Check Out Our Latest Stock Report on MGNI

Institutional Trading of Magnite A number of institutional investors and hedge funds have recently made changes to their positions in MGNI. Stephens Investment Management Group LLC boosted its holdings in shares of Magnite by 17.0% during the fourth quarter. Stephens Investment Management Group LLC now owns 1,128,578 shares of the company’s stock valued at $18,317,000 after acquiring an additional 164,035 shares during the period. Royce & Associates LP grew its position in shares of Magnite by 19.5% during the fourth quarter. Royce & Associates LP now owns 1,166,469 shares of the company’s stock worth $18,932,000 after acquiring an additional 190,318 shares during the last quarter. Meros Investment Management LP increased its holdings in shares of Magnite by 34.5% in the 4th quarter. Meros Investment Management LP now owns 825,595 shares of the company’s stock worth $13,399,000 after acquiring an additional 211,767 shares during the period. Capital Research Global Investors lifted its position in Magnite by 85.0% in the 4th quarter. Capital Research Global Investors now owns 12,920,289 shares of the company’s stock valued at $209,696,000 after purchasing an additional 5,937,428 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Magnite by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 14,802,630 shares of the company’s stock valued at $240,247,000 after purchasing an additional 148,198 shares during the last quarter. 73.40% of the stock is currently owned by institutional investors and hedge funds.

Magnite Company Profile (Get Free Report)

Magnite, Inc (NASDAQ: MGNI) operates as an independent sell-side advertising platform that enables publishers and digital media owners to monetize their inventory through programmatic advertising. Formed in 2020 through the merger of Rubicon Project and Telaria, Magnite combines technologies for desktop, mobile, connected television (CTV) and digital out-of-home (DOOH) ad exchanges. The company provides an end-to-end solution designed to help media owners optimize yield across open marketplaces, private marketplaces and programmatic guaranteed deals.

At the core of Magnite’s offering is its supply-side platform (SSP), which connects publishers’ ad impressions to demand-side platforms (DSPs) through real-time bidding (RTB).

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David Buonasera, the chief technology officer of Magnite, Inc. (MGNI +1.65%), executed a sale of 7,649 shares of common stock on August 6, according to an SEC Form 4 filing.

Transaction summaryMetricValueTransaction value$179,446Shares sold7,649Post-transaction shares (directly held)260,836Post-transaction value$6.34 millionTransaction value based on SEC Form 4 weighted average sale price ($23.46); post-transaction value based on the August 6 market close ($24.32).

Key questionsWhat was the primary driver behind this transaction?
This sale was non-discretionary at the time of execution, as it was conducted through a pre-arranged Rule 10b5-1 trading plan. These plans are adopted by corporate insiders to manage their equity portfolios and realize liquidity on a predetermined schedule, independent of any subsequent material non-public information.How does this sale impact the insider's long-term exposure to the company?
Buonasera retains a substantial direct stake of 260,836 shares in Magnite, representing an ownership interest of roughly 0.2%.What is the broader financial context for this disposition?
The transaction occurred with the stock priced at $24.32 as of the August 6 market close, representing an 8% return over the trailing 12-month period. Magnite currently maintains a market capitalization of $3.5 billion and reported trailing twelve-month revenue of $742.0 million.Company OverviewMetricValueShare Price (as of market close 2026-08-06)$24.32Market Capitalization$3.5 billionRevenue (TTM)$742.0 millionNet Income (TTM)$166.9 millionCompany SnapshotMagnite operates a global digital advertising marketplace platform that provides publishers—including connected TV channels, mobile applications, and websites—with comprehensive tools and applications to manage and monetize their advertising inventory.The company generates revenue through a two-sided marketplace model, offering services and technology solutions to both supply-side participants (publishers) and demand-side participants (advertisers, agencies, agency trading desks, and demand-side platforms), facilitating programmatic advertising transactions.Magnite's primary customers include digital publishers seeking to optimize ad revenue, advertising agencies and brands requiring efficient media buying solutions, and demand-side platforms that leverage the company's infrastructure to execute targeted advertising campaigns at scale.Magnite is a leading independent platform in the digital advertising technology sector, with a market capitalization of $3.5 billion and TTM revenues of $742.0 million. The company maintains a competitive advantage through its sophisticated, independent marketplace infrastructure that connects a diverse ecosystem of publishers and advertisers globally. With a demonstrated ability to generate substantial net income of $166.9 million TTM, Magnite is positioned as a critical infrastructure provider in the programmatic advertising landscape.

What this transaction means for investorsWhen five executives and insiders at one company all sell on the same day, as is the case here, the instinct is to look for a warning, but the calendar is the likelier culprit here because these sales run on trading plans set in advance. Buonasera's piece was a straightforward plan sale, and he held on to more than 260,000 shares, so the amount that left barely registers against what he kept.

The timing followed a strong report. Magnite's connected TV business, its main growth driver, grew contribution ex-TAC 36% to $97 million last quarter and now accounts for more than half the company's total, helping lift adjusted EBITDA 30%. CEO Michael Barrett said the company "significantly beat consensus expectations on both the top and bottom line," and management raised full-year guidance. The thing worth watching is next quarter, because Magnite's own third-quarter outlook implies connected TV growth slowing to the 29% to 32% range from 36%, partly on tougher comparisons. That deceleration, not five insiders selling on schedule, is what could actually shift the story from here.

Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool recommends Magnite. The Motley Fool has a disclosure policy.

Katie Seitz Evans, president of product and operations at Magnite, Inc. (MGNI +1.65%), reported a sale of 20,000 shares of the company on August 6, following a derivative exercise, according to an SEC Form 4 filing.

Transaction summaryMetricValueTransaction value$480,000Shares sold (direct)20,000Post-transaction shares (directly held)496,840Post-transaction value$12.08 millionTransaction value based on SEC Form 4 weighted average sale price ($24.00); post-transaction value based on the August 6 market close ($24.32).

Key questionsWhat was the structural nature of this transaction?
The filing reflects a cashless exercise where 20,000 options with a strike price of $5.16 were exercised and immediately sold at $24.00. This mechanism allowed the insider to realize the value of the fully vested awards without a significant capital outlay, resulting in a net cash inflow before taxes while reducing the total direct share count.How does the Rule 10b5-1 plan affect the interpretation of this sale?
Because the sale was executed under a plan established on August 28, 2025, the timing and price parameters were determined nearly a year in advance. This lead time indicates the transaction was a scheduled part of a long-term liquidity strategy rather than a tactical response to the stock's 8% one-year return as of August 6.What is the current scale of the insider's remaining equity exposure?
Following the disposition, the insider retains direct ownership of 496,840 shares of common stock, valued at $12.08 million as of the August 6 market close. This remaining position represents 0.35% of the company's total shares outstanding, ensuring continued alignment with shareholders despite the recent diversification move.Company OverviewMetricValueShare Price (as of market close 2026-08-06)$24.32Market Capitalization$3.5 billionRevenue (TTM)$742.0 millionNet Income (TTM)$166.9 millionCompany SnapshotMagnite operates a global digital advertising platform that provides publishers with applications and tools to manage and monetize their ad inventory across connected TV, mobile applications, and websites.The company generates revenue through a two-sided marketplace model, offering services to both supply-side participants (publishers) and demand-side participants (advertisers, agencies, and demand-side platforms) to facilitate programmatic advertising transactions.Magnite serves a diverse customer base, including content publishers, digital media companies, advertising agencies, agency trading desks, and demand-side platforms seeking to optimize their digital advertising operations.Magnite is a leading independent platform in the programmatic advertising ecosystem, with a market capitalization of $3.5 billion and TTM revenues of $742.0 million. The company operates a sophisticated two-sided marketplace that connects publishers seeking to monetize digital content with advertisers and agencies seeking efficient media buying solutions. With a strong net income of $166.9 million on a TTM basis, Magnite maintains a competitive position in the digital advertising technology sector, leveraging its independent status and comprehensive platform capabilities to serve a global customer base.

What this transaction means for investorsEvans came out of this week's selling holding more Magnite stock than most of her colleagues, close to 497,000 shares worth about $12 million even after cashing in a batch of options struck at $5.16. She is one of five executives here to sell on the same August day, each under a trading plan set months earlier, so what looks like a rush for the exits is really a handful of preset schedules landing at once. The low strike marks these as old awards finally converted to cash.

The selling came right after a strong quarter. Connected TV, the business Magnite leans on, grew contribution ex-TAC 36% to $97 million and now supplies more than half the total, lifting adjusted EBITDA 30%. Management raised full-year guidance across its main measures, pointing to connected TV as the engine still carrying the company's growth. One key number to pay attention to is Magnite's own third-quarter outlook, which pencils in connected TV growth, the company’s biggest channel, cooling to 29% to 32% and could determine how the firm grows from here.

Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool recommends Magnite. The Motley Fool has a disclosure policy.

Magnite is outperforming the digital ad industry, driven by CTV growth, AI-enabled platforms, and strong publisher relationships. SpringServe's evolution into a CTV operating system and Magnite Orchestration position MGNI as a leader in agentic, AI-driven advertising. MGNI delivered robust Q2 results: 36% CTV growth, 30% adjusted EBITDA growth, and raised FY26 guidance for ex-TAC, margins, and FCF.

Magnite Inc (NASDAQ:MGNI) on Wednesday reported better-than-expected second-quarter financial results.

Magnite posted adjusted earnings of 26 cents per share, beating market estimates of 25 cents per share. The company’s sales came in at $192.823 million versus estimates of $179.209 million.

Magnite said it sees third-quarter sales of $188.000 million-$192.000 million, versus market estimates of $185.357 million.

“We significantly beat consensus expectations on both the top and bottom line in the second quarter, driven by outperformance in CTV—which grew 36% year-over-year—and a return to growth in DV+. Our CTV momentum continues to be broad-based across leading publisher partners and anchored by the strategic differentiation of SpringServe,” said Michael G. Barrett, CEO of Magnite.

Magnite shares surged 11.2% to $22.99 in pre-market trading.

These analysts made changes to their price targets on Magnite following earnings announcement.

BTIG analyst Tyler DiMatteo maintained the stock with a Buy and raised the price target from $20 to $27. Rosenblatt analyst Barton Crockett maintained the stock with a Buy and raised the price target from $39 to $40. Considering buying MGNI stock? Here’s what analysts think:

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Magnite, Inc. (MGNI) Q2 2026 Earnings Call August 5, 2026 4:30 PM EDT

Company Participants

Nick Kormeluk - VP of Investor Relations & Head of Global Real Estate
Michael Barrett - CEO & Director
David Day - Chief Financial Officer

Conference Call Participants

Matthew Swanson - RBC Capital Markets, Research Division
Shyam Patil - Susquehanna Financial Group, LLLP, Research Division
Jason Kreyer - Craig-Hallum Capital Group LLC, Research Division
Laura Martin - Needham & Company, LLC, Research Division
Robert Coolbrith - Evercore ISI Institutional Equities, Research Division
Tyler DiMatteo - BTIG, LLC, Research Division
Kenneth Wu - Wolfe Research, LLC
Barton Crockett - Rosenblatt Securities Inc., Research Division
Ethan Widell - B. Riley Securities, Inc., Research Division
Timothy Nollen - SSR LLC

Presentation

Operator

Hello, and thank you for standing by. Ladies and gentlemen, welcome to Magnite Q2 2026 Earnings Call. Please note that this call is being recorded. [Operator Instructions] I'd now like to hand the call over to Nick Kormeluk, Investor Relations. Please go ahead.

Nick Kormeluk
VP of Investor Relations & Head of Global Real Estate

Thank you, operator, and good afternoon, everyone. Welcome to Magnite's Second Quarter 2026 Earnings Conference Call. As a reminder, this conference call is being recorded. Joining me on the call today are Michael Barrett, CEO; and David Day, our CFO, for his final earnings call prior to retiring. I would like to point out that we have posted financial highlight slides on our Investor Relations website to accompany today's presentation.

Before we get started, I will remind you that our prepared remarks and answers to questions will include information that might be considered to be forward-looking statements, including, but not limited to, statements concerning our anticipated financial performance and strategic objectives, including the potential impacts of macroeconomic factors on our business. These statements are not guarantees of future performance. They reflect our current views with respect to

Contribution ex-TAC(1) Grows 17% Year-Over-Year

Contribution ex-TAC(1) from CTV Grows 36% Year-Over-Year

Adjusted EBITDA(1) Grows 30% Year-Over-Year

Adjusted EBITDA Margin(2) of 37% in Second Quarter

NEW YORK, Aug. 05, 2026 (GLOBE NEWSWIRE) -- Magnite (NASDAQ: MGNI), the largest independent sell-side advertising company, today reported its results of operations for the quarter ended June 30, 2026.

Q2 2026 Highlights:

Revenue of $192.8 million, up 11% year-over-yearContribution ex-TAC(1) of $189.6 million, up 17% year-over-year, exceeded the high end of the guidance range of $177 to $181 millionContribution ex-TAC(1) attributable to CTV of $97.1 million, up 36% year-over-year, exceeded the high end of the guidance range of $90 to $92 millionContribution ex-TAC(1) attributable to DV+ of $92.5 million, up 2% year-over-year, exceeded high end of the guidance range of $87 to $89 millionNet income of $19.4 million, or $0.13 per diluted share, compared to a net income of $11.1 million, or $0.08 per share for Q2 2025Adjusted EBITDA(1) of $70.6 million, up 30% year-over-year, representing a 37% Adjusted EBITDA margin(2), compared to Adjusted EBITDA(1) of $54.4 million or a 34% margin in Q2 2025Non-GAAP earnings per share(1) of $0.26, compared to non-GAAP earnings per share(1) of $0.20 for Q2 2025Operating cash flow(3) of $57.4 million Q3 2026 Expectations:

Total Contribution ex-TAC(1) to be between $188 million and $192 millionContribution ex-TAC(1) attributable to CTV to be between $98 million and $100 millionContribution ex-TAC(1) attributable to DV+ to be between $90 million and $92 millionAdjusted EBITDA operating expenses(4) to be between $119 million and $121 million Full-Year 2026 Expectations:

Raising total Contribution ex-TAC(1) growth to be between 13% and 14%, up from at least 11%Raising Adjusted EBITDA(1) percentage growth to be greater than 20% from the mid-teensRaising Adjusted EBITDA margin(2) to be at least 37% from at least 35.5%Raising free cash flow(5) growth to be in the high 40% range from the mid 30% range “We significantly beat consensus expectations on both the top and bottom line in the second quarter, driven by outperformance in CTV—which grew 36% year-over-year—and a return to growth in DV+. Our CTV momentum continues to be broad-based across leading publisher partners and anchored by the strategic differentiation of SpringServe. On the bottom line, we delivered 30% Adjusted EBITDA growth with a 37% margin. Given this strong execution and ongoing shift toward programmatic streaming, we are also raising both our full-year top-line and margin expectations. Furthermore, we are pleased with our agentic product launches and partner support, and view these as a great future tailwind. We are uniquely positioned between supply and demand, and with our agentic offerings we believe we will benefit from serving as vital infrastructure for the future of digital advertising,” said Michael G. Barrett, CEO of Magnite.

           Magnite Second Quarter 2026 Results Summary          (in millions, except per share amounts and percentages)           Three Months Ended Six Months Ended June 30, 2026 June 30, 2025 Change
Favorable/
(Unfavorable) June 30, 2026 June 30, 2025 Change
Favorable/
(Unfavorable)Revenue$192.8 $173.3 11% $357.2 $329.1 9%Gross profit$130.8 $108.4 21% $234.7 $201.4 17%Contribution ex-TAC(1)$189.6 $162.0 17% $350.5 $307.8 14%Net income$19.4 $11.1 75% $23.8 $1.5 NMAdjusted EBITDA(1)$70.6 $54.4 30% $113.5 $91.2 24%Adjusted EBITDA margin(2)37% 34% 3.0 ppt 32% 30% 2 pptBasic earnings per share$0.14 $0.08 75% $0.17 $0.01 NMDiluted earnings per share$0.13 $0.08 63% $0.16 $0.01 NMNon-GAAP earnings per share(1)$0.26 $0.20 30% $0.39 $0.32 22% NM = Not meaningful

Footnotes:(1)Contribution ex-TAC, Adjusted EBITDA, and non-GAAP earnings per share are non-GAAP financial measures. Please see the discussion in the section called "Non-GAAP Financial Measures" and the reconciliations included at the end of this press release.(2)Adjusted EBITDA margin is calculated as Adjusted EBITDA divided by Contribution ex-TAC.(3)Operating cash flow is calculated as Adjusted EBITDA less capital expenditures.(4)Adjusted EBITDA operating expenses is calculated as Contribution ex-TAC less Adjusted EBITDA.(5)Free cash flow is defined as operating cash flow (Adjusted EBITDA less capital expenditures) less net interest expense.    Second Quarter 2026 Results Conference Call and Webcast:

The Company will host a conference call on August 5, 2026 at 1:30 PM (PT) / 4:30 PM (ET) to discuss the results for its second quarter of 2026.

Live conference call
Toll free number:(800) 715-9871 (for domestic callers)Direct dial number:(646) 307-1963 (for international callers)Passcode:Ask to join the Magnite conference callSimultaneous audio webcast:http://investor.magnite.com under "Events and Presentations"  Conference call replay
Toll free number:(855) 669-9658 (for domestic callers)Direct dial number:(412) 317-0088 (for international callers)Passcode:4765799Webcast link:http://investor.magnite.com under "Events and Presentations"   About Magnite
We’re Magnite (NASDAQ: MGNI), the world’s largest independent sell-side advertising company. Publishers use our technology to monetize their content across all screens and formats including CTV, online video, display, and audio. The world's leading agencies and brands trust our platform to access brand-safe, high-quality ad inventory and execute billions of advertising transactions each month. Anchored in bustling New York City, sunny Los Angeles, mile high Denver, historic London, colorful Singapore, and down under in Sydney, Magnite has offices across North America, EMEA, LATAM, and APAC.

Forward-Looking Statements:

This press release and management's prepared remarks during the conference call referred to above include, and management's answers to questions during the conference call may include, forward-looking statements, including statements based upon or relating to our expectations, assumptions, estimates, and projections. In some cases, you can identify forward-looking statements by terms such as "may," "might," "will," "objective," "intend," "should," "could," "can," "would," "expect," "believe," "design," "anticipate," "estimate," "predict," "potential," "plan" or the negative of these terms, and similar expressions. Forward-looking statements may include, but are not limited to, statements concerning the Company’s guidance or expectations with respect to future financial performance; acquisitions by the Company, or the anticipated benefits thereof; macroeconomic conditions or concerns related thereto; the growth of ad-supported programmatic connected television ("CTV"); our ability to use and collect data to provide our offerings; the scope and duration of client relationships; the fees we may charge in the future; key strategic objectives; anticipated benefits of new offerings; business mix; sales growth; benefits from supply path optimization; our ability to adapt to advancements in artificial intelligence ("AI"); the development of identity solutions; client utilization of our offerings; the impact of requests for discounts, rebates, or other fee concessions; our competitive differentiation; our market share and leadership position in the industry; market conditions, trends, and opportunities; the effects of regulatory developments or antitrust rulings on competitive dynamics in our industry; our litigation against Google LLC, or the anticipated benefits thereof; certain statements regarding future operational performance measures; and other statements that are not historical facts. These statements are not guarantees of future performance; they reflect our current views with respect to future events and are based on assumptions and estimates and subject to known and unknown risks, uncertainties and other factors that may cause our actual results, outcomes, performance or achievements, or the timing thereof, to be materially different from expectations or results projected or implied by forward-looking statements.

We discuss many of these risks, uncertainties, and additional factors that could cause actual results, outcomes, or timing thereof, to differ materially from those anticipated by our forward-looking statements under the headings "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations," and elsewhere in this press release and in other filings we have made and will make from time to time with the Securities and Exchange Commission, or SEC, including our Annual Report on Form 10-K for the year ended December 31, 2025, and subsequent filings. These forward-looking statements represent our estimates and assumptions only as of the date of the report in which they are included. Unless required by federal securities laws, we assume no obligation to update any of these forward-looking statements, or to update the reasons actual results or outcomes could differ materially from those anticipated, to reflect circumstances or events that occur after the statements are made. Without limiting the foregoing, any guidance we may provide will generally be given only in connection with quarterly and annual earnings announcements, without interim updates, and we may appear at industry conferences or make other public statements without disclosing material nonpublic information in our possession. Given these uncertainties, investors should not place undue reliance on these forward-looking statements. Investors should read this press release and the documents that we reference in this press release and have filed or will file with the SEC completely and with the understanding that our actual future results may be materially different from what we expect. We qualify all of our forward-looking statements by these cautionary statements.

Non-GAAP Financial Measures and Operational Measures:

In addition to our GAAP results, we review certain non-GAAP financial measures to help us evaluate our business on a consistent basis, measure our performance, identify trends affecting our business, establish budgets, measure the effectiveness of investments in our technology and development and sales and marketing, and assess our operational efficiencies. These non-GAAP financial measures include Contribution ex-TAC, Adjusted EBITDA, Non-GAAP Income, and Non-GAAP Earnings per share, each of which is discussed below.

These non-GAAP financial measures are not intended to be considered in isolation from, as substitutes for, or as superior to, the corresponding financial measures prepared in accordance with GAAP. You are encouraged to evaluate these adjustments, and review the reconciliation of these non-GAAP financial measures to their most comparable GAAP measures, and the reasons we consider them appropriate. It is important to note that the particular items we exclude from, or include in, our non-GAAP financial measures may differ from the items excluded from, or included in, similar non-GAAP financial measures used by other companies. See "Reconciliation of Revenue to Gross Profit to Contribution ex-TAC," "Reconciliation of net income to Adjusted EBITDA," "Reconciliation of net income to non-GAAP income," and "Reconciliation of GAAP earnings per share to non-GAAP earnings per share" included as part of this press release.

We do not provide a reconciliation of our non-GAAP financial expectations for Contribution ex-TAC and Adjusted EBITDA, or a forecast of the most comparable GAAP measures, because the amount and timing of many future charges that impact these measures (such as amortization of future acquired intangible assets, acquisition-related charges, foreign exchange (gain) loss, net, stock-based compensation, impairment charges, provision or benefit for income taxes, and our future revenue mix), which could be material, are variable, uncertain, or out of our control and therefore cannot be reasonably predicted without unreasonable effort, if at all. In addition, we believe such reconciliations or forecasts could imply a degree of precision that might be confusing or misleading to investors.

Contribution ex-TAC:

Contribution ex-TAC is calculated as gross profit plus cost of revenue, excluding traffic acquisition cost ("TAC"). Traffic acquisition cost, a component of cost of revenue, represents what we must pay sellers for the sale of advertising inventory through our platform for revenue reported on a gross basis. Contribution ex-TAC is a non-GAAP financial measure that is most comparable to gross profit. We believe Contribution ex-TAC is a useful measure in facilitating a consistent comparison against our core business without considering the impact of traffic acquisition costs related to revenue reported on a gross basis.

Adjusted EBITDA:

We define Adjusted EBITDA as net income adjusted to exclude stock-based compensation expense, depreciation and amortization, including amortization of acquired intangible assets, impairment charges, interest income or expense, provision (benefit) for income taxes, and certain cash and non-cash based income or expenses that we do not consider indicative of our core operating performance, including, but not limited to foreign exchange gains and losses, acquisition, severance costs and related items, gains or losses on extinguishment of debt, other debt refinancing expenses, certain litigation expenses, and non-operational real estate and other expenses (income), net. We believe Adjusted EBITDA is useful to investors in evaluating our performance for the following reasons:

Adjusted EBITDA is widely used by investors and securities analysts to measure a company’s performance without regard to items such as those we exclude in calculating this measure, which can vary substantially from company to company depending upon their financing, capital structures, and the method by which assets were acquired.Our management uses Adjusted EBITDA in conjunction with GAAP financial measures for planning purposes, including the preparation of our annual operating budget, as a measure of performance and the effectiveness of our business strategies, and in communications with our board of directors concerning our performance. Adjusted EBITDA is also used as a metric for determining payment of cash incentive compensation.Adjusted EBITDA provides a measure of consistency and comparability with our past performance that many investors find useful, facilitates period-to-period comparisons of operations, and also facilitates comparisons with other peer companies, many of which use similar non-GAAP financial measures to supplement their GAAP results. Although Adjusted EBITDA is frequently used by investors and securities analysts in their evaluations of companies, Adjusted EBITDA has limitations as an analytical tool, and should not be considered in isolation or as a substitute for analysis of our results of operations as reported under GAAP. These limitations include:

Stock-based compensation is a non-cash charge and will remain an element of our long-term incentive compensation package, although we exclude it as an expense when evaluating our ongoing operating performance for a particular period.Depreciation and amortization are non-cash charges, and the assets being depreciated or amortized will often have to be replaced in the future, but Adjusted EBITDA does not reflect any cash requirements for these replacements.Impairment charges are non-cash charges related to goodwill, intangible assets and/or long-lived assets.Adjusted EBITDA does not reflect certain cash and non-cash charges related to acquisition and related items, such as amortization of acquired intangible assets, merger, acquisition, or restructuring related severance costs, certain transaction expenses, and changes in the fair value of contingent consideration.Adjusted EBITDA does not reflect cash and non-cash charges related to interest income and interest expense and certain financing transactions such as gains or losses on extinguishment of debt or other debt refinancing expenses.Adjusted EBITDA does not reflect cash requirements for income taxes and the cash impact of other income or expense.Adjusted EBITDA does not reflect litigation expenses for specific proceedings.Adjusted EBITDA does not reflect certain non-operational real estate and other (income) and expense, net.Adjusted EBITDA does not reflect changes in our working capital needs, capital expenditures, or contractual commitments.Other companies may calculate Adjusted EBITDA differently than we do, limiting its usefulness as a comparative measure. Our Adjusted EBITDA is influenced by fluctuations in our revenue, cost of revenue, and the timing and amounts of the cost of our operations. Adjusted EBITDA should not be considered as an alternative to net income, income from operations, or any other measure of financial performance calculated and presented in accordance with GAAP.

Non-GAAP Income and Non-GAAP Earnings per Share:

We define non-GAAP earnings per share as non-GAAP income divided by non-GAAP weighted-average shares outstanding. Non-GAAP income is equal to net income excluding stock-based compensation, cash and non-cash based merger, acquisition, and restructuring costs, which consist primarily of professional service fees associated with merger and acquisition activities, cash-based employee termination costs, and other restructuring activities, including facility closures, relocation costs, contract termination costs, and impairment costs of abandoned technology associated with restructuring activities, amortization of acquired intangible assets, gains or losses on extinguishment of debt, certain litigation expense, non-operational real estate and other expenses or income, foreign currency gains and losses, interest expense associated with Convertible Senior Notes, other debt refinance expenses, and the tax impact of these items. In periods in which we have non-GAAP income, non-GAAP weighted-average shares outstanding used to calculate non-GAAP earnings per share includes the impact of potentially dilutive shares. Potentially dilutive shares consist of stock options, restricted stock units, performance stock units, and potential shares issued under the Employee Stock Purchase Plan, each computed using the treasury stock method, and the impact of shares that would be issuable assuming conversion of all of the Convertible Senior Notes, calculated under the if-converted method. We believe non-GAAP earnings per share is useful to investors in evaluating our ongoing operational performance and our trends on a per share basis, and also facilitates comparison of our financial results on a per share basis with other companies, many of which present a similar non-GAAP measure. However, a potential limitation of our use of non-GAAP earnings per share is that other companies may define non-GAAP earnings per share differently, which may make comparison difficult. This measure may also exclude expenses that may have a material impact on our reported financial results. Non-GAAP earnings per share is a performance measure and should not be used as a measure of liquidity. Because of these limitations, we also consider the comparable GAAP measure of net income.

Investor Relations Contact
Nick Kormeluk
(949) 500-0003
[email protected]

Media Contact
Charlstie Veith
(516) 300-3569
[email protected]

    MAGNITE, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
(unaudited)
     June 30, 2026 December 31, 2025ASSETS   Current assets:   Cash and cash equivalents$332,615  $553,362 Accounts receivable, net 1,383,778   1,301,955 Prepaid expenses and other current assets 30,007   26,261 TOTAL CURRENT ASSETS 1,746,400   1,881,578 Property and equipment, net 116,045   108,546 Right-of-use lease assets 62,290   66,611 Internal use software development costs, net 31,131   28,799 Intangible assets, net 7,320   12,445 Goodwill 983,902   983,902 Other assets, non-current 85,738   82,494 TOTAL ASSETS$3,032,826  $3,164,375 LIABILITIES AND STOCKHOLDERS' EQUITY   Current liabilities:   Accounts payable and accrued expenses$1,666,940  $1,607,664 Lease liabilities, current 23,863   20,163 Debt, current, net of debt issuance costs 3,632   208,447 Other current liabilities 9,293   5,462 TOTAL CURRENT LIABILITIES 1,703,728   1,841,736 Debt, non-current, net of debt discount and issuance costs 346,768   347,665 Lease liabilities, non-current 42,715   50,085 Other liabilities, non-current 3,342   2,539 TOTAL LIABILITIES 2,096,553   2,242,025 STOCKHOLDERS' EQUITY   Common stock 2   2 Additional paid-in capital 1,430,446   1,440,358 Accumulated other comprehensive loss (1,397)  (1,451)Accumulated deficit (492,778)  (516,559)TOTAL STOCKHOLDERS' EQUITY 936,273   922,350 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY$3,032,826  $3,164,375      MAGNITE, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share amounts)
(unaudited)
     Three Months Ended Six Months Ended June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025Revenue$192,823  $173,332  $357,194  $329,103 Expenses (1)(2):       Cost of revenue 62,038   64,953   122,446   127,752 Sales and marketing 47,000   42,323   93,088   90,429 Technology and development 24,135   21,583   49,308   43,875 General and administrative 28,428   22,514   53,411   46,452 Total expenses 161,601   151,373   318,253   308,508 Income from operations 31,222   21,959   38,941   20,595 Other (income) expense:       Interest expense, net 6,314   5,071   10,871   10,248 Foreign exchange (gain) loss, net (223)  4,944   (370)  7,161 Loss on extinguishment of debt —   —   —   2,152 Other income (416)  (153)  (838)  (576)Total other expense, net 5,675   9,862   9,663   18,985 Income before income taxes 25,547   12,097   29,278   1,610 Provision for income taxes 6,178   958   5,497   105 Net income$19,369  $11,139  $23,781  $1,505 Earnings per share:       Basic$0.14  $0.08  $0.17  $0.01 Diluted$0.13  $0.08  $0.16  $0.01 Weighted average shares used to compute earnings per share:       Basic 143,024   141,654   143,281   141,752 Diluted 147,172   148,260   147,623   149,184      (1) Stock-based compensation expense included in our expenses was as follows:
     Three Months Ended Six Months EndedJune 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025Cost of revenue$603 $535 $1,288 $1,107Sales and marketing 8,437  8,448  16,811  17,592Technology and development 4,547  4,207  9,265  8,842General and administrative 6,039  6,368  11,947  13,226Total stock-based compensation expense$19,626 $19,558 $39,311 $40,767 (2) Depreciation and amortization expense included in our expenses was as follows:
     Three Months Ended Six Months Ended June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025Cost of revenue$14,288 $11,199 $28,379 $24,224Sales and marketing 91  885  197  3,333Technology and development 128  67  252  136General and administrative 48  59  94  118Total depreciation and amortization expense$14,555 $12,210 $28,922 $27,811   MAGNITE, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
(unaudited)
   Six Months Ended June 30, 2026 June 30, 2025OPERATING ACTIVITIES:   Net income$23,781  $1,505 Adjustments to reconcile net income to net cash provided by operating activities:   Depreciation and amortization 28,922   27,811 Stock-based compensation 39,311   40,767 Loss on extinguishment of debt —   2,152 Amortization of debt discount and issuance costs 1,444   1,860 Non-cash lease expense 655   (942)Deferred income taxes (1,159)  316 Unrealized foreign currency (gain) loss, net (4,084)  6,595 Other items, net (370)  102 Changes in operating assets and liabilities:   Accounts receivable (81,984)  (102,239)Prepaid expenses and other assets (6,316)  (6,438)Accounts payable and accrued expenses 59,990   52,288 Other liabilities 5,672   (2,688)Net cash provided by operating activities 65,862   21,089 INVESTING ACTIVITIES:   Purchases of property and equipment (21,533)  (26,891)Capitalized internal use software development costs (8,062)  (6,364)Net cash used in investing activities (29,595)  (33,255)FINANCING ACTIVITIES:   Proceeds from the Term Loan B Facility refinancing and repricing activities, net of debt discount —   92,622 Repayment of the Term Loan B Facility from refinancing and repricing activities —   (92,622)Proceeds from the Revolving Credit Facility 60,000   — Repayment of the Revolving Credit Facility (60,000)  — Payment for debt issuance costs —   (159)Repayment of the Term Loan B Facility (1,816)  (908)Repayment of convertible senior notes (205,067)  — Proceeds from exercise of stock options 3,984   1,709 Proceeds from issuance of common stock under employee stock purchase plan 2,387   2,111 Purchase of treasury stock (35,543)  (22,880)Taxes paid related to net share settlement (21,351)  (27,258)Net cash used in financing activities (257,406)  (47,385)EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS 392   2,335 CHANGE IN CASH AND CASH EQUIVALENTS (220,747)  (57,216)CASH AND CASH EQUIVALENTS — Beginning of period 553,362   483,220 CASH AND CASH EQUIVALENTS — End of period$332,615  $426,004    MAGNITE, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS-(Continued)
(In thousands)
(unaudited)
   Six Months EndedSUPPLEMENTAL DISCLOSURES OF OTHER CASH FLOW INFORMATION:June 30, 2026 June 30, 2025Cash paid for income taxes$2,112 $2,040Cash paid for interest$12,933 $14,477Capitalized assets financed by accounts payable and accrued expenses and other liabilities$2,858 $11,676Capitalized stock-based compensation$1,300 $948Operating lease right-of-use assets obtained in exchange for operating lease liabilities$15,496 $18,683Operating lease right-of-use assets reduction and corresponding non-cash adjustment to operating lease liabilities$8,139 $2,129Non-cash financing activity related to Amendment Nos. 1 and 2 to the 2024 Credit Agreement$— $270,555     MAGNITE, INC.
CALCULATION OF BASIC AND DILUTED EARNINGS PER SHARE
(In thousands, except per share data)
(unaudited)
     Three Months Ended Six Months Ended June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025  Basic Earnings Per Share:       Net income$19,369 $11,139 $23,781 $1,505Weighted-average common shares outstanding used to compute basic earnings per share 143,024  141,654  143,281  141,752Basic earnings per share$0.14 $0.08 $0.17 $0.01        Diluted Earnings Per Share:       Net income used to calculate diluted income per share$19,369 $11,139 $23,781 $1,505        Weighted-average common shares outstanding used to compute basic earnings per share 143,024  141,654  143,281  141,752Dilutive effect of weighted-average restricted stock units 1,830  3,419  2,086  4,268Dilutive effect of weighted-average common stock options 1,664  1,959  1,641  2,023Dilutive effect of weighted-average performance stock units 632  1,224  591  1,106Dilutive effect of weighted-average Employee Stock Purchase Plan shares 22  4  24  35Weighted-average shares used to compute diluted earnings per share 147,172  148,260  147,623  149,184Diluted earnings per share$0.13 $0.08 $0.16 $0.01     MAGNITE, INC.
RECONCILIATION OF REVENUE TO GROSS PROFIT TO CONTRIBUTION EX-TAC
(In thousands)
(unaudited)
     Three Months Ended Six Months Ended June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025Revenue$192,823 $173,332 $357,194 $329,103Less: Cost of revenue 62,038  64,953  122,446  127,752Gross Profit 130,785  108,379  234,748  201,351Add back: Cost of revenue, excluding TAC 58,810  53,577  115,751  106,453Contribution ex-TAC$189,595 $161,956 $350,499 $307,804     
MAGNITE, INC.
RECONCILIATION OF NET INCOME TO ADJUSTED EBITDA
(In thousands)
(unaudited)
     Three Months Ended Six Months Ended June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025Net income$19,369  $11,139 $23,781  $1,505Add back (deduct):       Stock-based compensation expense 19,626   19,558  39,311   40,767Depreciation and amortization expense, excluding amortization of acquired intangible assets 12,060   9,320  23,797   17,538Amortization of acquired intangibles 2,495   2,890  5,125   10,273Merger, acquisition, and restructuring costs, excluding stock-based compensation expense 1,755   —  1,755   —Interest expense, net 6,314   5,071  10,871   10,248Provision for income taxes 6,178   958  5,497   105Foreign exchange (gain) loss, net (223)  4,944  (370)  7,161Loss on extinguishment of debt —   —  —   2,152Other debt refinancing expense —   —  —   967Litigation expense (1) 1,176   —  1,816   —Non-operational real estate and other expense, net 1,850   511  1,878   475Adjusted EBITDA$70,600  $54,391 $113,461  $91,191              (1) Litigation expense includes professional and legal expenses related to the Google Action and defense costs relating to class action privacy litigation. For additional information, see the "Regulatory Developments and Google Litigation" section and Part II, Item 1. "Legal Proceedings" within our Quarterly Report on Form 10-Q for the period ended June 30, 2026.
    MAGNITE, INC.
RECONCILIATION OF NET INCOME TO NON-GAAP INCOME
(In thousands)
(unaudited)
     Three Months Ended Six Months Ended June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025Net income$19,369  $11,139  $23,781  $1,505 Add back (deduct):       Stock-based compensation expense 19,626   19,558   39,311   40,767 Merger, acquisition, and restructuring costs, including amortization of acquired intangibles and excluding stock-based compensation expense 4,250   2,890   6,880   10,273 Foreign exchange (gain) loss, net (223)  4,944   (370)  7,161 Loss on extinguishment of debt —   —   —   2,152 Other debt refinancing expense —   —   —   967 Litigation expense (1) 1,176   —   1,816   — Non-operational real estate and other expense, net 1,850   511   1,878   475 Interest expense, Convertible Senior Notes —   422   359   843 Tax effect of Non-GAAP adjustments (2) (7,875)  (9,074)  (15,513)  (15,896)Non-GAAP income$38,173  $30,390  $58,142  $48,247         (1) Litigation expense includes professional and legal expenses related to the Google Action and defense costs relating to class action privacy litigation. For additional information, see the "Regulatory Developments and Google Litigation" section and Part II, Item 1. "Legal Proceedings" within our Quarterly Report on Form 10-Q for the period ended March 31, 2026.(2) Non-GAAP income includes the estimated tax impact from the reconciling items between net income and non-GAAP income.      MAGNITE, INC.
RECONCILIATION OF GAAP EARNINGS PER SHARE TO NON-GAAP EARNINGS PER SHARE
(In thousands, except per share amounts)
(unaudited)
     Three Months Ended Six Months Ended June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025GAAP earnings per share (1):       Basic$0.14 $0.08 $0.17 $0.01Diluted$0.13 $0.08 $0.16 $0.01        Non-GAAP income (2)$38,173 $30,390 $58,142 $48,247Non-GAAP earnings per share$0.26 $0.20 $0.39 $0.32        Weighted-average shares used to compute basic earnings per share 143,024  141,654  143,281  141,752Dilutive effect of weighted-average common stock options, RSUs, and PSUs 4,126  6,602  4,318  7,397Dilutive effect of weighted-average ESPP shares 22  4  24  35Dilutive effect of weighted-average Convertible Senior Notes —  3,210  —  3,210Non-GAAP weighted-average shares outstanding 147,172  151,470  147,623  152,394        (1) Calculated as net income divided by basic and diluted weighted-average shares used to compute basic and diluted earnings per share as included in the condensed consolidated statement of operations.(2) Refer to reconciliation of net income to non-GAAP income.   MAGNITE, INC.
CONTRIBUTION EX-TAC BY CHANNEL
(In thousands)
(unaudited)
   Contribution ex-TAC Three Months Ended Six Months Ended June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025Channel:               CTV 97,133 51%  71,543 44% $179,402 51% $134,768 44%Mobile 65,771 35%  63,772 39%  121,122 35%  121,780 39%Desktop 26,691 14%  26,641 17%  49,975 14%  51,256 17%Total$189,595 100% $161,956 100% $350,499 100% $307,804 100%

Michael G. Barrett, Chief Executive Officer of Magnite, Inc. (MGNI +0.51%), sold 38,596 shares of common stock on July 15, 2026, at $20.35 per share, according to the SEC Form 4 filing.

Transaction summaryMetricValueShares sold38,596Transaction value$785,429Post-transaction shares (directly held)403,074Post-transaction value$8.3 millionTransaction value based on SEC Form 4 weighted average sale price ($20.35); post-transaction value based on July 15, 2026 market close ($20.49).

Key questionsWhat was the nature of this disposition?
The transaction was structured as an exercise and sell, where 38,596 stock options, with a strike price of $5.80, were converted to common stock and liquidated in multiple transactions at prices ranging from $20.165 to $20.56.How does this impact the CEO's long-term exposure to the company?
Following this disposition, Michael Barrett retains direct ownership of 403,074 shares and continues to hold 293,968 derivative securities, including vested stock options, ensuring significant continued alignment with shareholders.To what extent was this sale discretionary?
The sale was executed according to a Rule 10b5-1 trading plan established on March 13, 2026, which removes immediate seller discretion over timing and price to comply with insider trading regulations.What is the recent performance context for Magnite shares?
As of the July 15, 2026 transaction date, Magnite had delivered a one-year total return of -13%, while the company maintained a market capitalization of $2.7 billion.Company OverviewMetricValueShare Price (as of market close 2026-07-16)$19.91Market Capitalization$2.7 billionRevenue (TTM)$722.6 millionNet Income (TTM)$158.7 millionCompany SnapshotMagnite operates a global digital advertising marketplace platform that enables publishers — including connected TV channels, mobile applications, and websites — to manage and monetize their advertising inventory through sophisticated applications and utilities.The company generates revenue by providing technology infrastructure and services to both supply-side participants (publishers) and demand-side participants (advertisers, agencies, agency trading desks, and demand-side platforms) within the programmatic advertising ecosystem.Magnite's primary customers include digital content publishers seeking to optimize ad inventory monetization and advertising buyers including brands, agencies, and trading desks requiring programmatic purchasing capabilities and market access.Magnite is an independent, global platform operator in the digital advertising marketplace with a market capitalization of $2.7 billion. The company serves as a critical infrastructure provider connecting publishers and advertisers through its programmatic platform, capturing value across the digital advertising supply chain.

With 971 employees and a net income of $158.7 million over the trailing 12 months, Magnite demonstrates profitability while maintaining its position as a key intermediary in the programmatic advertising ecosystem.

What this transaction means for investorsThe July 15 sale of Magnite stock by CEO Michael Barrett does not appear to be a cause for investor concern as it was a non-discretionary transaction executed as part of a pre-established Rule 10b5-1 plan. He exercised 38,596 stock options and immediately sold them, a tactic employed by many executives. This makes the sale fairly routine.

Also, Barrett maintained a sizable equity stake post-disposition, given his direct holdings of 403,074 shares and an additional 293,968 stock options. This indicates he is not in a rush to liquidate his holdings, which suggests a positive outlook towards Magnite’s future.

The company has made steady improvements under Barrett’s watch. It has reduced debt from $556 million exiting 2025 to $351 million at the end of the first quarter. Its Q1 revenue rose 6% year over year to $164 million while net income improved substantially to $4 million compared to a net loss of $10 million in the prior year.

On July 09, 2026, Magnite Inc (MGNI) shares rose 4.5% today, closing at $21.22. This movement is notable within the context of a 52-week range that spans from $

Investors often choose between specialized technology players and broad digital ecosystem giants. Magnite (MGNI +7.85%) and Sea (SE +1.62%) represent two distinct paths into the digital economy, making the choice between them a matter of strategy.

Magnite focuses on helping publishers sell advertising space, particularly in the growing world of connected TV. Sea is a conglomerate that dominates e-commerce and digital gaming across Southeast Asia and Latin America. While they operate in different sectors, both companies compete for growth-oriented capital in an increasingly digital world.

The case for MagniteMagnite sells software that helps publishers and media owners manage and sell their digital advertising inventory across various platforms. Its primary focus is on connected TV and online video, serving major agencies and brands globally. Note that two major advertising buyers accounted for approximately 44% of revenue in 2025. Customer concentration like this adds a layer of risk to the business.

In FY 2025, revenue reached nearly $714.0 million, representing growth of roughly 6.9% compared to the previous year. The company reported a net income of approximately $144.6 million for the period. This positive result follows a significant improvement from the previous fiscal year, where the net margin, which is the percentage of revenue left after all expenses are paid, was much lower.

As of its December 2025 balance sheet, the debt-to-equity ratio was close to 0.5x. This ratio compares a company's total debt to its shareholder equity to show how it is financed. The current ratio, which measures the ability to pay short-term debts with short-term assets, stands at roughly 1.0x. Free cash flow for FY 2025 was close to $165.6 million. Note that stock-based compensation represented roughly 32.5% of operating cash flow, which inflates reported cash generation since SBC is a non-cash expense added back in the cash flow statement.

The case for SeaSea operates a massive ecosystem through its Shopee e-commerce platform and Garena digital entertainment division. The company serves millions of consumers and small businesses in Southeast Asia and Taiwan. It also has a growing presence among media stocks through its gaming and digital content segments.

During FY 2025, revenue reached approximately $22.9 billion, a substantial increase of roughly 36.4% over the prior year. The company generated a net income of nearly $1.6 billion. This indicates a net margin of close to 6.9%, showing how much of each dollar earned turned into actual profit.

As of the December 2025 balance sheet, the debt-to-equity ratio is roughly 0.3x. A lower ratio generally indicates a more conservative approach to using debt for growth. The current ratio stands at approximately 1.6x, suggesting a comfortable buffer for meeting short-term obligations. Free cash flow, which is the cash a company generates after accounting for capital expenditures, was close to $4.5 billion.

Risk profile comparisonMagnite faces significant revenue concentration, as two buyers accounted for about 44% of its 2025 revenue. The company also deals with intense competition from Alphabet and Amazon, which possess larger resources and proprietary data. Additionally, a 2025 lawsuit against Alphabet for anticompetitive practices introduces risks of legal expenses and distraction. Evolving global privacy regulations also threaten the efficacy of its targeted advertising tools and increase compliance costs.

Sea operates in highly competitive markets where it must constantly defend its e-commerce market share against rivals like Alibaba and ByteDance. Its gaming division is heavily reliant on a small number of hit titles, making it vulnerable to shifts in player preferences. The company also faces geopolitical and regulatory risks across multiple jurisdictions in Southeast Asia and Latin America. Furthermore, scaling its digital financial services requires significant investment and navigates complex regional banking laws.

Valuation comparisonMagnite currently trades at a lower valuation relative to its sales, while Sea carries a higher premium based on its aggressive revenue growth profile.

MetricMagniteSeaSector BenchmarkForward P/E16.9x26.0x16.2xP/S ratio3.6x2.5xSector benchmark uses the SPDR XLC sector ETF.
Valuation metrics sourced from Financial Modeling Prep (FMP) and may differ from other data providers.

I'd go with Sea Limited. Magnite is doing interesting things in the connected TV advertising space, and its CTV business is growing at a healthy clip. But it's a relatively narrow bet in a competitive market, and the stock has struggled to gain traction with investors despite solid execution.

Sea Limited operates on a different scale entirely. Shopee is one of the dominant e-commerce platforms across Southeast Asia and is expanding aggressively in Brazil. Monee, its fintech arm, is growing its loan book at a remarkable pace. And Garena, the gaming business, just delivered its best quarter since 2021. All three engines firing at once is a rare thing.

The stock has pulled back from its highs, and profitability is still a work in progress. But the scale of the opportunity here is hard to ignore, and high-profile institutional investors are starting to take notice. For a patient, long-term investor, Sea is the more exciting bet by a wide margin.

Magnite delivered strong Q1 results, with CTV contribution ex-TAC up 30% YoY and now over 50% of total contribution. I remain bullish and reiterate my buy rating, citing positive sentiment, robust CTV growth, and improved profitability metrics including a 27% adj. EBITDA margin. MGNI paid down $205M in senior notes, reducing net leverage to 0.7x and aligning with management's target of less than 1x.

Integration with Viasat Ads unlocks premium in-flight advertising inventory through automated, data-driven buying June 17, 2026 03:00 ET  | Source: Magnite, Inc.

LONDON, June 17, 2026 (GLOBE NEWSWIRE) -- Magnite (NASDAQ: MGNI), the largest independent sell-side advertising company, today announced a partnership with Viasat Aviation, the in-flight connectivity leader behind Viasat Ads. This collaboration brings programmatic advertising to in-flight Wi-Fi and entertainment, giving brands and ad buyers scaled access to highly engaged audiences in the sky. Built on Viasat Ads, this collaboration unlocks one of the last major offline environments as premium, addressable inventory.

Viasat powers in-flight connectivity and digital entertainment services across passenger devices and onboard platforms. Its technology is used by over 60 airlines on over 4,000 aircraft worldwide. Viasat Ads delivers premium advertising experiences at scale by offering inventory across multiple airlines, monetising airlines’ in-flight media with dynamic ad targeting by route, destination, and events.

Magnite’s programmatic infrastructure will allow advertisers working with Viasat Ads to seamlessly reach millions of travelers across Viasat’s in-flight ecosystem, including seat-back entertainment screens and personal devices accessed via onboard Wi-Fi with a streamlined user experience, enabling consistent ad formatting, reliable measurement, and premium visibility in a brand-safe and high-attention environment.

“As brands increasingly seek high-quality environments that deliver both scale and attention, in-flight screens and personal devices are emerging as some of the most valuable untapped digital advertising environments,” said Leon Siotis, SVP, Business Development, International, Magnite. “With millions of highly engaged travelers spending extended periods of uninterrupted time in the air, brands now have a unique opportunity to connect with audiences in a premium, immersive setting that few other channels can replicate.”

Ragu Kamakshisundaram, Viasat’s Vice President, Media and Monetization, added: “With this launch of programmatic advertising in the sky, we are bringing in-flight media to the real-time world of ad buying. Instead of long planning cycles to integrate advertisements into airline content management systems, advertisers can now reach the flying traveler instantly. By combining our leading brand-safe in-flight advertising platform with Magnite’s programmatic expertise, we are creating new opportunities for brands and airlines to connect with passengers in the air.”

Press contact
Paige Brewer, Senior Account Executive, Bluestripe Group
[email protected]

About Magnite 
We’re Magnite (NASDAQ: MGNI), the world’s largest independent sell-side advertising company. Publishers use our technology to monetize their content across all screens and formats including CTV, online video, display, and audio. The world’s leading agencies and brands trust our platform to access brand-safe, high-quality ad inventory and execute billions of advertising transactions each month. Anchored in bustling New York City, sunny Los Angeles, mile high Denver, historic London, colorful Singapore, and down under in Sydney, Magnite has offices across North America, EMEA, LATAM, and APAC.

About Viasat Ads
Viasat Ads leverages Viasat’s global in-flight connectivity network to deliver premium advertising experiences at scale. With access to over 250 million passengers annually across leading global airlines, Viasat Ads enables brands to reach travelers en route to 400+ destinations. With immersive ad formats, real-time delivery, and route-based targeting, advertisers can connect with a verified, human audience, when passengers are most engaged.

Posted by Defense World Staff on Apr 6th, 2026

Cloudastructure (NASDAQ:CSAI – Get Free Report) and Magnite (NASDAQ:MGNI – Get Free Report) are both small-cap computer and technology companies, but which is the superior business? We will compare the two businesses based on the strength of their analyst recommendations, risk, earnings, institutional ownership, valuation, dividends and profitability.

Profitability This table compares Cloudastructure and Magnite’s net margins, return on equity and return on assets.

Net Margins Return on Equity Return on Assets Cloudastructure -210.73% -147.58% -118.89% Magnite 20.25% 8.44% 2.34% Institutional and Insider Ownership 73.4% of Magnite shares are owned by institutional investors. 20.2% of Cloudastructure shares are owned by insiders. Comparatively, 3.8% of Magnite shares are owned by insiders. Strong institutional ownership is an indication that hedge funds, large money managers and endowments believe a stock will outperform the market over the long term.

Analyst Ratings This is a summary of current ratings for Cloudastructure and Magnite, as reported by MarketBeat.com.

Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score Cloudastructure 1 1 0 1 2.33 Magnite 0 2 9 0 2.82 Cloudastructure currently has a consensus price target of $6.00, indicating a potential upside of 920.58%. Magnite has a consensus price target of $24.10, indicating a potential upside of 102.69%. Given Cloudastructure’s higher probable upside, equities research analysts clearly believe Cloudastructure is more favorable than Magnite.

Earnings and Valuation This table compares Cloudastructure and Magnite”s gross revenue, earnings per share and valuation.

Gross Revenue Price/Sales Ratio Net Income Earnings Per Share Price/Earnings Ratio Cloudastructure $5.07 million 2.84 -$6.53 million ($0.40) -1.47 Magnite $713.95 million 2.40 $144.61 million $0.94 12.65 Magnite has higher revenue and earnings than Cloudastructure. Cloudastructure is trading at a lower price-to-earnings ratio than Magnite, indicating that it is currently the more affordable of the two stocks.

Volatility & Risk Cloudastructure has a beta of 0.86, indicating that its share price is 14% less volatile than the S&P 500. Comparatively, Magnite has a beta of 2.39, indicating that its share price is 139% more volatile than the S&P 500.

Summary Magnite beats Cloudastructure on 11 of the 15 factors compared between the two stocks.

About Cloudastructure (Get Free Report)

Cloudastructure, Inc. (“Cloudastructure”) was formed under the laws of the State of Delaware on March 28, 2003. We provide an award-winning cloud-based artificial intelligence (“AI”) video surveillance and Remote Guarding service built on AI and machine learning platforms. We operated as a small Silicon Valley startup until early 2021 when we raised over $35 million in funding under Regulation A of the Securities Act of 1933, as amended (the “Securities Act”). With these funds we quickly built a sales, marketing and support structure and achieved a degree of early success in the property management space. As of the date of this prospectus, we have contracts in place with five of the top 10 property management companies on the National Multifamily Housing Council’s (“NMHC’s”) 2024 NMCH 50 list (Greystar Real Estate Partners, Avenue5 Residential, LLC, Cushman & Wakefield, BH Management Services, LLC and FPI Management, Inc.). Our cloud-based solutions allow our customers to provide real-time safety and security solutions for their properties, as well as easily manage security across all of their locations. As of the date of this prospectus, we are focused on expanding into more of our existing top tier customer locations, acquiring additional customers in the property management (“proptech”) space, and we anticipate entering into additional markets in 2025. Our intelligent AI solution works by identifying objects (faces, license plates, animals, guns, etc.) in video footage so that property managers can quickly search for those objects. Additionally, our AI and Remote Guarding services provide a proactive response to crime. Remote guarding combines video surveillance, AI analytics, monitoring centers, and security agents (“Remote Guarding”). Based on internal data comparing the total number of actual threatening activity alerts received by our Remote Guards, against all potentially suspicious and threatening activity alerts received by our Remote Guards, on average, from 2023 to the date of this prospectus, our Remote Guarding services deterred over 97% of all threatening activity for our customers. We believe AI security delivers multiple benefits for many property owners, including, without limitation: · Deterring crime and improving overall safety; · Improving occupancy rates and rental rates; and · Reducing onsite guard costs and lowering insurance rates As of the date of this prospectus, we are the only seamless, cloud-based, AI surveillance and Remote Guarding solution on the market of which we are aware. We also believe that our solution is more affordable and easier to use than the various solutions that our competitors offer. Our Remote Guarding service bridges the line between AI and human intelligence. AI has the ability to monitor all cameras at the same time and all of the time, a task from which humans would fatigue. When the AI detects an event occurring, the Remote Guards are notified. The Remote Guards can then determine if escalation is required. With real-time human intervention, our Remote Guarding service can turn video surveillance from a forensic tool, used after a crime has been committed, into a real time crime prevention tool. This has the potential to greatly increase value for our customers. We were incorporated under the laws of the State of Delaware on March 28, 2003 under the name Connexed Technologies, Inc. On September 28, 2016, we changed our name to Cloudastructure, Inc. Our principal executive offices are located at 228 Hamilton Avenue, 3rd Floor, Palo Alto, California.

About Magnite (Get Free Report)

Magnite, Inc., together with its subsidiaries, operates an independent omni-channel sell-side advertising platform in the United States and internationally. The company’s platform offers applications and services for sellers of digital advertising inventory or publishers that own and operate CTV channels, applications, websites, and other digital media properties to manage and monetize their inventory; and applications and services for buyers, including advertisers, agencies, agency trading desks, and demand side platforms to buy digital advertising inventory, as well as an independent marketplace that connects buyers and sellers. It markets its solutions through sales teams that operate from various locations. The company was formerly known as The Rubicon Project, Inc. and changed name to Magnite, Inc. in July 2020. Magnite, Inc. was incorporated in 2007 and is headquartered in New York, New York.

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Investors interested in stocks from the Internet - Software sector have probably already heard of Magnite (MGNI) and Autodesk (ADSK). But which of these two stocks offers value investors a better bang for their buck right now?

On April 16, 2026, Magnite Inc MGNI shares rose 3.1% today, currently priced at $13.64. The stock has traded within a 52-week range of $9.64 to $26.65, showing significant volatility over the past year.

GF Value™ verdict: The current price is $13.64, which is 3.1% above the GF Value™ estimate of $13.23, indicating the stock is overvalued.GF Score™: Magnite has a GF Score™ of 82/100, which suggests it has strong fundamentals.Most notable signal: Insider activity shows that insiders sold $0.3 million worth of shares in the last three months, with no buying activity reported. Is MGNI Overvalued or Undervalued? The current price of $13.64 for Magnite Inc MGNI is slightly above the GF Value™ estimate of $13.23, marking it as 3.1% overvalued. This suggests that investors may not have a sufficient margin of safety at the current price point. The GF Valuation label indicates that the stock is fairly valued, but with the current price exceeding the GF Value™, it poses a risk for potential investors. GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates.

Being overvalued implies that the stock may not provide the best entry point for new buyers. Existing shareholders might also need to be cautious about holding onto the stock if the price does not align with its intrinsic value in the near future. Investors should consider these factors when evaluating their positions in MGNI.

How Does MGNI's Valuation Compare to Its History? Metric Current Historical P/E (TTM) 14.5x 89.5x Forward P/E 12.8x N/A The current P/E (TTM) of 14.5x is significantly below its 5-year median P/E of 89.5x, indicating that the stock is trading well below its historical valuation levels. This P/E analysis supports the GF Value™ verdict of being overvalued, as the current P/E is substantially lower than its historical averages, suggesting the market may not be pricing in potential future growth adequately.

What Does MGNI's GF Score™ Tell Us? Metric Rating GF Score™ 82 Financial Strength 5/10 Profitability 4/10 Growth 9/10 Valuation 9/10 Momentum 7/10 Magnite's GF Score™ of 82/100 reflects strong fundamentals, particularly in growth and valuation, where it scores 9/10. However, the financial strength and profitability ranks are weaker at 5/10 and 4/10 respectively. This suggests that while the company has significant growth potential and is relatively well-valued, there are concerns regarding its current financial health and profitability metrics.

What Are Insiders Doing with MGNI Stock? Insider activity in Magnite has shown a trend of selling, with insiders offloading $0.3 million worth of shares in the last three months and no buying activity recorded. This pattern may suggest that insiders lack confidence in the stock's immediate future, reflecting potential concerns about the company's performance or valuation. Such selling can sometimes act as a warning signal for investors.

What This Means for Investors Based on the GF Value™ estimate, Magnite Inc MGNI is currently overvalued at $13.64, being 3.1% above its fair value of $13.23. Investors should exercise caution when considering entry points in this stock, particularly in light of the recent insider selling and the overall market conditions.

For the complete analysis, visit the Magnite Inc MGNI stock page. You can also explore the GF Value™ page for detailed valuation methodology, or use the GuruFocus Stock Screener to find similar opportunities.

Frequently Asked Questions What is MGNI's GF Score™?

MGNI has a GF Score™ of 82/100, indicating strong fundamentals and a potential for higher long-term returns based on historical performance.

Is MGNI overvalued or undervalued?

MGNI is currently overvalued, as its price of $13.64 exceeds the GF Value™ estimate of $13.23 by 3.1%.

What is MGNI's P/E ratio?

MGNI has a P/E (TTM) of 14.5x, which is significantly lower than its 5-year median P/E of 89.5x, suggesting it is trading well below its historical valuation.

This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].

NEW YORK, April 21, 2026 (GLOBE NEWSWIRE) -- Magnite (NASDAQ:MGNI), the largest independent sell-side advertising company, today announced that Hearst News has selected Magnite as a preferred deal partner for high-impact advertising formats across web and CTV inventory. Hearst News is also deepening its relationship with Magnite through a new SpringServe partnership.

This expanded collaboration brings together Hearst News’ premium content and trusted journalism with Magnite’s omnichannel scale and expertise, helping advertisers reach engaged audiences across streaming TV, mobile app, and web environments. As Hearst News continues to invest in emerging ad experiences built for modern viewing habits, the preferred partnership with Magnite will support high-impact formats such as web exit-intent placements and CTV pause ads across Hearst’s omnichannel footprint.

Hearst News will also leverage Magnite’s SpringServe platform to support its video advertising operations as the publisher continues to expand its premium streaming and digital video experiences. By incorporating SpringServe’s capabilities, Hearst News will be better positioned to drive greater operational efficiency and unlock more dynamic, high-impact video formats.

In an environment where advertisers prioritize quality, context, and attention, Hearst News’ portfolio of respected local news outlets offers a powerful advantage. Hearst News reaches over 80 million users who turn to its properties for timely reporting, community updates, and meaningful storytelling. As brands and advertisers seek dependable environments for their messages, Hearst provides a setting built on credibility and daily relevance.

“We’ve built our reputation by investing in strong journalism and trust is our most valuable asset,” said Nate Ryckman, VP, Programmatic Strategy at Hearst News. “As we bring our news properties together into one unified programmatic marketplace, Magnite is helping us deliver consistent, premium advertiser experiences across all of our properties, regardless of environment. The consolidation of our portfolio makes it easier for advertisers to plan, buy, and measure across our properties. Our partnership with Magnite will make it easy for advertisers to deliver impactful, performant experiences across that portfolio.”

“Hearst understands that attention is earned and their audiences come for trusted reporting and high-quality storytelling,” said Ashley Wheeler, Senior Vice President, DV+ Platform at Magnite. “This partnership is about helping Hearst bring forward ad experiences that match that standard. Together we’re delivering high-impact experiences that are respectful of the consumer and consistent across screens.”

About Magnite
We’re Magnite (NASDAQ: MGNI), the world’s largest independent sell-side advertising company. Publishers use our technology to monetize their content across all screens and formats including CTV, online video, display, and audio. The world’s leading agencies and brands trust our platform to access brand-safe, high-quality ad inventory and execute billions of advertising transactions each month. Anchored in bustling New York City, sunny Los Angeles, mile high Denver, historic London, colorful Singapore, and down under in Sydney, Magnite has offices across North America, EMEA, LATAM, and APAC.

About Hearst News
Hearst News is Hearst’s newly unified digital organization, bringing together talent, technology, product, data, and strategy into one centralized team focused on delivering best-in-class programmatic solutions at national scale. Formerly operating under the Hearst Mosaic name, Hearst News now serves as the single-entry point for national advertisers and agencies seeking access to Hearst’s digital news inventory across newspapers and television.

Media Contact:
Charlstie Veith
[email protected]

Investor Contact:
Nick Kormeluk
[email protected]

The market expects Definitive Healthcare Corp. (DH - Free Report) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended March 2026. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.

The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on May 7. On the other hand, if they miss, the stock may move lower.

While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.

Zacks Consensus EstimateThis company is expected to post quarterly earnings of $0.03 per share in its upcoming report, which represents a year-over-year change of -40%.

Revenues are expected to be $54.9 million, down 7.3% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for Definitive Healthcare?For Definitive Healthcare, the Most Accurate Estimate is the same as the Zacks Consensus Estimate, suggesting that there are no recent analyst views which differ from what have been considered to derive the consensus estimate. This has resulted in an Earnings ESP of 0%.

On the other hand, the stock currently carries a Zacks Rank of #3.

So, this combination makes it difficult to conclusively predict that Definitive Healthcare will beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that Definitive Healthcare would post earnings of $0.06 per share when it actually produced earnings of $0.06, delivering no surprise.

Over the last four quarters, the company has beaten consensus EPS estimates three times.

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Definitive Healthcare doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

An Industry Player's Expected ResultsAnother stock from the Zacks Internet - Software industry, Magnite (MGNI - Free Report) , is soon expected to post earnings of $0.05 per share for the quarter ended March 2026. This estimate indicates a year-over-year change of -58.3%. Revenues for the quarter are expected to be $159 million, up 9% from the year-ago quarter.

Over the last 30 days, the consensus EPS estimate for Magnite has been revised 27.3% down to the current level. Nevertheless, the company now has an Earnings ESP of 0.00%, reflecting an equal Most Accurate Estimate.

This Earnings ESP, combined with its Zacks Rank #4 (Sell), makes it difficult to conclusively predict that Magnite will beat the consensus EPS estimate. Over the last four quarters, the company surpassed consensus EPS estimates two times.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

Contribution ex-TAC(1) Grows 10% Year-Over-Year

Contribution ex-TAC(1) from CTV Grows 30% Year-Over-Year and Now Over 50% of Total

NEW YORK, May 06, 2026 (GLOBE NEWSWIRE) -- Magnite (NASDAQ: MGNI), the largest independent sell-side advertising company, today reported its results of operations for the quarter ended March 31, 2026.

Q1 2026 Highlights:

Revenue of $164.4 million, up 6% year-over-yearContribution ex-TAC(1) of $160.9 million, up 10% year-over-year, at the high end of the guidance range of $157 to $161 millionContribution ex-TAC(1) attributable to CTV of $82.3 million, up 30% year-over-year, within the guidance range of $81 to $83 millionContribution ex-TAC(1) attributable to DV+ of $78.6 million, down 5% year-over-year, exceeded high end of guidance of $76 to $78 millionNet income of $4.4 million, or $0.03 per diluted share, compared to a net loss of $9.6 million, or $0.07 per share for Q1 2025Adjusted EBITDA(1) of $42.9 million, up 16% year-over-year, representing a 27% Adjusted EBITDA margin(2), compared to Adjusted EBITDA(1) of $36.8 million or a 25% margin in Q1 2025Non-GAAP earnings per share(1) of $0.13, compared to non-GAAP earnings per share(1) of $0.12 for Q1 2025Operating cash flow(3) of $23.3 million Q2 2026 Expectations:

Total Contribution ex-TAC(1) to be between $177 million and $181 millionContribution ex-TAC(1) attributable to CTV to be between $90 million and $92 millionContribution ex-TAC(1) attributable to DV+ to be between $87 million and $89 millionAdjusted EBITDA operating expenses(4) to be between $115 million and $117 million Full-Year 2026 Expectations:

Reaffirm total Contribution ex-TAC(1) growth of at least 11%Reaffirm Adjusted EBITDA(1) percentage growth in the mid-teensRaise Adjusted EBITDA margin(2) to be at least 35.5% from greater than 35%Raise free cash flow(5) growth to be in the mid 30% range from greater than 30% “Magnite once again exceeded total top and bottom line expectations, with growth paced by CTV at 30%. Our CTV success is broad based and supported by publisher, agency and DSP momentum. Buyer marketplaces coupled with ClearLine, live sports, and strong SMB trends continue to support the growth acceleration in CTV. AI is also becoming foundational in almost every area of our business, from agentic buying, to creative development, to inventory curation, to workflow. It is powering greater productivity throughout our ecosystem and company. We are starting to see some improvements in key areas of DV+, namely mobile app and commerce media partners. We also remain ready in our DV+ business, as it relates to pending remedies related to the Google trial.” said Michael G. Barrett, CEO of Magnite.

Magnite First Quarter 2026 Results Summary    (in millions, except per share amounts and percentages)     Three Months Ended March 31, 2026 March 31, 2025 Change
Favorable/ (Unfavorable)Revenue$164.4 $155.8 6%Gross profit$104.0 $93.0 12%Contribution ex-TAC(1)$160.9 $145.8 10%Net income (loss)$4.4 ($9.6) NMAdjusted EBITDA(1)$42.9 $36.8 16%Adjusted EBITDA margin(2)26.6% 25.2% 1.4 pptBasic earnings (loss) per share$0.03 ($0.07) NMDiluted earnings (loss) per share$0.03 ($0.07) NMNon-GAAP earnings per share(1)$0.13 $0.12 8% NM = Not meaningful

Footnotes:(1)Contribution ex-TAC, Adjusted EBITDA, and non-GAAP earnings per share are non-GAAP financial measures. Please see the discussion in the section called "Non-GAAP Financial Measures" and the reconciliations included at the end of this press release.(2)Adjusted EBITDA margin is calculated as Adjusted EBITDA divided by Contribution ex-TAC.(3)Operating cash flow is calculated as Adjusted EBITDA less capital expenditures.(4)Adjusted EBITDA operating expenses is calculated as Contribution ex-TAC less Adjusted EBITDA.(5)Free cash flow is defined as operating cash flow (Adjusted EBITDA less capital expenditures) less net interest expense. First Quarter 2026 Results Conference Call and Webcast:

The Company will host a conference call on May 6, 2026 at 1:30 PM (PT) / 4:30 PM (ET) to discuss the results for its first quarter of 2026.

Live conference call Toll free number:(844) 875-6911 (for domestic callers)Direct dial number:(412) 902-6511 (for international callers)Passcode:Ask to join the Magnite conference callSimultaneous audio webcast:http://investor.magnite.com under "Events and Presentations"  Conference call replay Toll free number:(855) 669-9658 (for domestic callers)Direct dial number:(412) 317-0088 (for international callers)Passcode:5995164Webcast link:http://investor.magnite.com under "Events and Presentations"
About Magnite
We’re Magnite (NASDAQ: MGNI), the world’s largest independent sell-side advertising company. Publishers use our technology to monetize their content across all screens and formats including CTV, online video, display, and audio. The world's leading agencies and brands trust our platform to access brand-safe, high-quality ad inventory and execute billions of advertising transactions each month. Anchored in bustling New York City, sunny Los Angeles, mile high Denver, historic London, colorful Singapore, and down under in Sydney, Magnite has offices across North America, EMEA, LATAM, and APAC.

Forward-Looking Statements:

This press release and management's prepared remarks during the conference call referred to above include, and management's answers to questions during the conference call may include, forward-looking statements, including statements based upon or relating to our expectations, assumptions, estimates, and projections. In some cases, you can identify forward-looking statements by terms such as "may," "might," "will," "objective," "intend," "should," "could," "can," "would," "expect," "believe," "design," "anticipate," "estimate," "predict," "potential," "plan" or the negative of these terms, and similar expressions. Forward-looking statements may include, but are not limited to, statements concerning the Company’s guidance or expectations with respect to future financial performance; acquisitions by the Company, or the anticipated benefits thereof; macroeconomic conditions or concerns related thereto; the growth of ad-supported programmatic connected television ("CTV"); our ability to use and collect data to provide our offerings; the scope and duration of client relationships; the fees we may charge in the future; key strategic objectives; anticipated benefits of new offerings; business mix; sales growth; benefits from supply path optimization; our ability to adapt to advancements in artificial intelligence ("AI"); the development of identity solutions; client utilization of our offerings; the impact of requests for discounts, rebates, or other fee concessions; our competitive differentiation; our market share and leadership position in the industry; market conditions, trends, and opportunities; the effects of regulatory developments or antitrust rulings on competitive dynamics in our industry; our litigation against Google LLC, or the anticipated benefits thereof; certain statements regarding future operational performance measures; and other statements that are not historical facts. These statements are not guarantees of future performance; they reflect our current views with respect to future events and are based on assumptions and estimates and subject to known and unknown risks, uncertainties and other factors that may cause our actual results, outcomes, performance or achievements, or the timing thereof, to be materially different from expectations or results projected or implied by forward-looking statements.

We discuss many of these risks, uncertainties, and additional factors that could cause actual results, outcomes, or timing thereof, to differ materially from those anticipated by our forward-looking statements under the headings "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations," and elsewhere in this press release and in other filings we have made and will make from time to time with the Securities and Exchange Commission, or SEC, including our Annual Report on Form 10-K for the year ended December 31, 2025, our Quarterly Report on Form 10-Q for the period ended March 31, 2025, and subsequent filings. These forward-looking statements represent our estimates and assumptions only as of the date of the report in which they are included. Unless required by federal securities laws, we assume no obligation to update any of these forward-looking statements, or to update the reasons actual results or outcomes could differ materially from those anticipated, to reflect circumstances or events that occur after the statements are made. Without limiting the foregoing, any guidance we may provide will generally be given only in connection with quarterly and annual earnings announcements, without interim updates, and we may appear at industry conferences or make other public statements without disclosing material nonpublic information in our possession. Given these uncertainties, investors should not place undue reliance on these forward-looking statements. Investors should read this press release and the documents that we reference in this press release and have filed or will file with the SEC completely and with the understanding that our actual future results may be materially different from what we expect. We qualify all of our forward-looking statements by these cautionary statements.

Non-GAAP Financial Measures and Operational Measures:

In addition to our GAAP results, we review certain non-GAAP financial measures to help us evaluate our business on a consistent basis, measure our performance, identify trends affecting our business, establish budgets, measure the effectiveness of investments in our technology and development and sales and marketing, and assess our operational efficiencies. These non-GAAP financial measures include Contribution ex-TAC, Adjusted EBITDA, Non-GAAP Income (Loss), and Non-GAAP Earnings (Loss) per share, each of which is discussed below.

These non-GAAP financial measures are not intended to be considered in isolation from, as substitutes for, or as superior to, the corresponding financial measures prepared in accordance with GAAP. You are encouraged to evaluate these adjustments, and review the reconciliation of these non-GAAP financial measures to their most comparable GAAP measures, and the reasons we consider them appropriate. It is important to note that the particular items we exclude from, or include in, our non-GAAP financial measures may differ from the items excluded from, or included in, similar non-GAAP financial measures used by other companies. See "Reconciliation of Revenue to Gross Profit to Contribution ex-TAC," "Reconciliation of net income (loss) to Adjusted EBITDA," "Reconciliation of net income (loss) to non-GAAP income," and "Reconciliation of GAAP earnings (loss) per share to non-GAAP earnings per share" included as part of this press release.

We do not provide a reconciliation of our non-GAAP financial expectations for Contribution ex-TAC and Adjusted EBITDA, or a forecast of the most comparable GAAP measures, because the amount and timing of many future charges that impact these measures (such as amortization of future acquired intangible assets, acquisition-related charges, foreign exchange (gain) loss, net, stock-based compensation, impairment charges, provision or benefit for income taxes, and our future revenue mix), which could be material, are variable, uncertain, or out of our control and therefore cannot be reasonably predicted without unreasonable effort, if at all. In addition, we believe such reconciliations or forecasts could imply a degree of precision that might be confusing or misleading to investors.

Contribution ex-TAC:

Contribution ex-TAC is calculated as gross profit plus cost of revenue, excluding traffic acquisition cost ("TAC"). Traffic acquisition cost, a component of cost of revenue, represents what we must pay sellers for the sale of advertising inventory through our platform for revenue reported on a gross basis. Contribution ex-TAC is a non-GAAP financial measure that is most comparable to gross profit. We believe Contribution ex-TAC is a useful measure in facilitating a consistent comparison against our core business without considering the impact of traffic acquisition costs related to revenue reported on a gross basis.

Adjusted EBITDA:

We define Adjusted EBITDA as net income (loss) adjusted to exclude stock-based compensation expense, depreciation and amortization, including amortization of acquired intangible assets, impairment charges, interest income or expense, provision (benefit) for income taxes, and certain cash and non-cash based income or expenses that we do not consider indicative of our core operating performance, including, but not limited to foreign exchange gains and losses, acquisition and related items, gains or losses on extinguishment of debt, other debt refinancing expenses, certain litigation expenses, and non-operational real estate and other expenses (income), net. We believe Adjusted EBITDA is useful to investors in evaluating our performance for the following reasons:

Adjusted EBITDA is widely used by investors and securities analysts to measure a company’s performance without regard to items such as those we exclude in calculating this measure, which can vary substantially from company to company depending upon their financing, capital structures, and the method by which assets were acquired.Our management uses Adjusted EBITDA in conjunction with GAAP financial measures for planning purposes, including the preparation of our annual operating budget, as a measure of performance and the effectiveness of our business strategies, and in communications with our board of directors concerning our performance. Adjusted EBITDA is also used as a metric for determining payment of cash incentive compensation.Adjusted EBITDA provides a measure of consistency and comparability with our past performance that many investors find useful, facilitates period-to-period comparisons of operations, and also facilitates comparisons with other peer companies, many of which use similar non-GAAP financial measures to supplement their GAAP results. Although Adjusted EBITDA is frequently used by investors and securities analysts in their evaluations of companies, Adjusted EBITDA has limitations as an analytical tool, and should not be considered in isolation or as a substitute for analysis of our results of operations as reported under GAAP. These limitations include:

Stock-based compensation is a non-cash charge and will remain an element of our long-term incentive compensation package, although we exclude it as an expense when evaluating our ongoing operating performance for a particular period.Depreciation and amortization are non-cash charges, and the assets being depreciated or amortized will often have to be replaced in the future, but Adjusted EBITDA does not reflect any cash requirements for these replacements.Impairment charges are non-cash charges related to goodwill, intangible assets and/or long-lived assets.Adjusted EBITDA does not reflect certain cash and non-cash charges related to acquisition and related items, such as amortization of acquired intangible assets, merger, acquisition, or restructuring related severance costs, certain transaction expenses, and changes in the fair value of contingent consideration.Adjusted EBITDA does not reflect cash and non-cash charges related to interest income and interest expense and certain financing transactions such as gains or losses on extinguishment of debt or other debt refinancing expenses.Adjusted EBITDA does not reflect cash requirements for income taxes and the cash impact of other income or expense.Adjusted EBITDA does not reflect litigation expenses for specific proceedings.Adjusted EBITDA does not reflect certain non-operational real estate and other (income) and expense, net.Adjusted EBITDA does not reflect changes in our working capital needs, capital expenditures, or contractual commitments.Other companies may calculate Adjusted EBITDA differently than we do, limiting its usefulness as a comparative measure. Our Adjusted EBITDA is influenced by fluctuations in our revenue, cost of revenue, and the timing and amounts of the cost of our operations. Adjusted EBITDA should not be considered as an alternative to net income (loss), income (loss) from operations, or any other measure of financial performance calculated and presented in accordance with GAAP.

Non-GAAP Income (Loss) and Non-GAAP Earnings (Loss) per Share:

We define non-GAAP earnings (loss) per share as non-GAAP income (loss) divided by non-GAAP weighted-average shares outstanding. Non-GAAP income (loss) is equal to net income (loss) excluding stock-based compensation, cash and non-cash based merger, acquisition, and restructuring costs, which consist primarily of professional service fees associated with merger and acquisition activities, cash-based employee termination costs, and other restructuring activities, including facility closures, relocation costs, contract termination costs, and impairment costs of abandoned technology associated with restructuring activities, amortization of acquired intangible assets, gains or losses on extinguishment of debt, certain litigation expense, non-operational real estate and other expenses or income, foreign currency gains and losses, interest expense associated with Convertible Senior Notes, other debt refinance expenses, and the tax impact of these items. In periods in which we have non-GAAP income, non-GAAP weighted-average shares outstanding used to calculate non-GAAP earnings per share includes the impact of potentially dilutive shares. Potentially dilutive shares consist of stock options, restricted stock units, performance stock units, and potential shares issued under the Employee Stock Purchase Plan, each computed using the treasury stock method, and the impact of shares that would be issuable assuming conversion of all of the Convertible Senior Notes, calculated under the if-converted method. We believe non-GAAP earnings (loss) per share is useful to investors in evaluating our ongoing operational performance and our trends on a per share basis, and also facilitates comparison of our financial results on a per share basis with other companies, many of which present a similar non-GAAP measure. However, a potential limitation of our use of non-GAAP earnings (loss) per share is that other companies may define non-GAAP earnings (loss) per share differently, which may make comparison difficult. This measure may also exclude expenses that may have a material impact on our reported financial results. Non-GAAP earnings (loss) per share is a performance measure and should not be used as a measure of liquidity. Because of these limitations, we also consider the comparable GAAP measure of net income (loss).

Investor Relations Contact
Nick Kormeluk
(949) 500-0003
[email protected]

Media Contact
Charlstie Veith
(516) 300-3569
[email protected]

MAGNITE, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
(unaudited) March 31, 2026 December 31, 2025ASSETS   Current assets:   Cash and cash equivalents$184,648  $553,362 Accounts receivable, net 1,430,657   1,301,955 Prepaid expenses and other current assets 32,276   26,261 TOTAL CURRENT ASSETS 1,647,581   1,881,578 Property and equipment, net 115,865   108,546 Right-of-use lease assets 74,655   66,611 Internal use software development costs, net 29,416   28,799 Intangible assets, net 9,816   12,445 Goodwill 983,902   983,902 Other assets, non-current 85,272   82,494 TOTAL ASSETS$2,946,507  $3,164,375 LIABILITIES AND STOCKHOLDERS' EQUITY   Current liabilities:   Accounts payable and accrued expenses$1,589,636  $1,607,664 Lease liabilities, current 21,737   20,163 Debt, current, net of debt issuance costs 3,632   208,447 Other current liabilities 5,903   5,462 TOTAL CURRENT LIABILITIES 1,620,908   1,841,736 Debt, non-current, net of debt discount and issuance costs 347,217   347,665 Lease liabilities, non-current 57,081   50,085 Other liabilities, non-current 3,394   2,539 TOTAL LIABILITIES 2,028,600   2,242,025 STOCKHOLDERS' EQUITY   Common stock 2   2 Additional paid-in capital 1,431,531   1,440,358 Accumulated other comprehensive loss (1,479)  (1,451)Accumulated deficit (512,147)  (516,559)TOTAL STOCKHOLDERS' EQUITY 917,907   922,350 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY$2,946,507  $3,164,375  MAGNITE, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share amounts)
(unaudited)
 Three Months Ended March 31, 2026 March 31, 2025Revenue$164,371  $155,771 Expenses(1)(2):   Cost of revenue 60,408   62,799 Sales and marketing 46,088   48,106 Technology and development 25,173   22,292 General and administrative 24,983   23,938 Total expenses 156,652   157,135 Income (loss) from operations 7,719   (1,364)Other (income) expense:   Interest expense, net 4,557   5,177 Foreign exchange (gain) loss, net (147)  2,217 Loss on extinguishment of debt —   2,152 Other income (422)  (423)Total other expense, net 3,988   9,123 Income (loss) before income taxes 3,731   (10,487)Benefit for income taxes (681)  (853)Net income (loss)$4,412  $(9,634)Earnings (loss) per share:   Basic$0.03  $(0.07)Diluted$0.03  $(0.07)Weighted average shares used to compute earnings (loss) per share:   Basic 143,541   141,852 Diluted 148,077   141,852  (1) Stock-based compensation expense included in our expenses was as follows:

 Three Months EndedMarch 31, 2026 March 31, 2025Cost of revenue$        685         $        572        Sales and marketing         8,374                  9,144        Technology and development         4,718                  4,635        General and administrative         5,908                  6,858        Total stock-based compensation expense$        19,685         $        21,209         (2) Depreciation and amortization expense included in our expenses was as follows:

 Three Months Ended March 31, 2026 March 31, 2025Cost of revenue$        14,091         $        13,025        Sales and marketing         106                  2,448        Technology and development         124                  69        General and administrative         46                  59        Total depreciation and amortization expense$        14,367         $        15,601         MAGNITE, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
(unaudited)
 Three Months Ended March 31, 2026 March 31, 2025OPERATING ACTIVITIES:   Net income (loss)$4,412  $(9,634)Adjustments to reconcile net income (loss) to net cash provided by operating activities:   Depreciation and amortization 14,367   15,601 Stock-based compensation 19,685   21,209 Loss on extinguishment of debt —   2,152 Amortization of debt discount and issuance costs 848   967 Non-cash lease expense 527   (516)Deferred income taxes (1,152)  154 Unrealized foreign currency (gain) loss, net (3,010)  4,496 Other items, net (23)  (101)Changes in operating assets and liabilities:   Accounts receivable (129,312)  147,859 Prepaid expenses and other assets (7,965)  (11,469)Accounts payable and accrued expenses (21,402)  (166,353)Other liabilities 2,259   (1,804)Net cash (used in) provided by operating activities (120,766)  2,561 INVESTING ACTIVITIES:   Purchases of property and equipment (9,400)  (14,377)Capitalized internal use software development costs (3,720)  (2,821)Net cash used in investing activities (13,120)  (17,198)FINANCING ACTIVITIES:   Proceeds from the Term Loan B Facility refinancing and repricing activities, net of debt discount —   92,622 Repayment of the Term Loan B Facility from refinancing and repricing activities —   (92,622)Payment for debt issuance costs —   (159)Repayment of debt (908)  — Repurchase of Convertible Senior Notes (205,067)  — Proceeds from exercise of stock options 26   252 Purchase of treasury stock (14,483)  (19,229)Taxes paid related to net share settlement (14,645)  (20,314)Net cash used in financing activities (235,077)  (39,450)EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS 249   575 CHANGE IN CASH AND CASH EQUIVALENTS (368,714)  (53,512)CASH AND CASH EQUIVALENTS — Beginning of period 553,362   483,220 CASH AND CASH EQUIVALENTS — End of period$184,648  $429,708  MAGNITE, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS-(Continued)
(In thousands)
(unaudited)
 Three Months EndedSUPPLEMENTAL DISCLOSURES OF OTHER CASH FLOW INFORMATION:March 31, 2026 March 31, 2025Cash paid for income taxes$303  $571Cash paid for interest$6,288  $6,679Capitalized assets financed by accounts payable and accrued expenses and other liabilities$6,683  $8,133Capitalized stock-based compensation$590  $422Operating lease right-of-use assets obtained in exchange for operating lease liabilities$13,837  $11,692Operating lease right-of-use assets reduction and corresponding non-cash adjustment to operating lease liabilities$(150) $2,047Non-cash financing activity related to Amendment Nos. 1 and 2 to the 2024 Credit Agreement$—  $270,555 MAGNITE, INC.
CALCULATION OF BASIC AND DILUTED EARNINGS (LOSS) PER SHARE
(In thousands, except per share data)
(unaudited)
 Three Months Ended March 31, 2026 March 31, 2025  Basic Earnings (Loss) Per Share:   Net income (loss)$4,412 $(9,634)Weighted-average common shares outstanding used to compute basic earnings (loss) per share 143,541  141,852 Basic earnings (loss) per share$0.03 $(0.07)    Diluted Earnings (Loss) Per Share:   Net income (loss) used to calculated diluted earnings (loss) per share$4,412 $(9,634)    Weighted-average common shares outstanding used to compute basic earnings (loss) per share 143,541  141,852 Dilutive effect of weighted-average restricted stock units 2,342  — Dilutive effect of weighted-average common stock options 1,616  — Dilutive effect of weighted-average performance stock units 551  — Dilutive effect of weighted-average Employee Stock Purchase Plan shares 27  — Weighted-average shares used to compute diluted earnings (loss) per share 148,077  141,852 Diluted earnings (loss) per share$0.03 $(0.07) MAGNITE, INC.
RECONCILIATION OF REVENUE TO GROSS PROFIT TO CONTRIBUTION EX-TAC
(In thousands)
(unaudited)
 Three Months Ended March 31, 2026 March 31, 2025Revenue$164,371 $155,771Less: Cost of revenue 60,408  62,799Gross Profit 103,963  92,972Add back: Cost of revenue, excluding TAC 56,941  52,876Contribution ex-TAC$160,904 $145,848 MAGNITE, INC.
RECONCILIATION OF NET INCOME (LOSS) TO ADJUSTED EBITDA
(In thousands)
(unaudited)
 Three Months Ended March 31, 2026 March 31, 2025Net income (loss)$4,412  $(9,634)Add back (deduct):   Stock-based compensation expense 19,685   21,209 Depreciation and amortization expense, excluding amortization of acquired intangible assets 11,737   8,218 Amortization of acquired intangibles 2,630   7,383 Interest expense, net 4,557   5,177 Benefit for income taxes (681)  (853)Foreign exchange (gain) loss, net (147)  2,217 Loss on extinguishment of debt —   2,152 Other debt refinancing expense —   967 Litigation expense(1) 640   — Non-operational real estate and other (income) expense, net 28   (36)Adjusted EBITDA$42,861  $36,800  (1) Litigation expense includes professional and legal expenses related to the Google Action and defense costs relating to class action privacy litigation. For additional information, see the "Regulatory Developments and Google Litigation" section and Part II, Item 1. "Legal Proceedings" within our Quarterly Report on Form 10-Q for the period ended March 31, 2026.

MAGNITE, INC.
RECONCILIATION OF NET INCOME (LOSS) TO NON-GAAP INCOME
(In thousands)
(unaudited)
 Three Months Ended March 31, 2026 March 31, 2025Net income (loss)$4,412  $(9,634)Add back (deduct):   Stock-based compensation expense 19,685   21,209 Merger, acquisition, and restructuring costs, including amortization of acquired intangibles and excluding stock-based compensation expense 2,630   7,383 Foreign exchange (gain) loss, net (147)  2,217 Loss on extinguishment of debt —   2,152 Other debt refinancing expense —   967 Litigation expense(1) 640   — Non-operational real estate and other (income) expense, net 28   (36)Interest expense, Convertible Senior Notes 359   421 Tax effect of Non-GAAP adjustments(2) (7,638)  (6,822)Non-GAAP income$19,969  $17,857  (1) Litigation expense includes professional and legal expenses related to the Google Action and defense costs relating to class action privacy litigation. For additional information, see the "Regulatory Developments and Google Litigation" section and Part II, Item 1. "Legal Proceedings" within our Quarterly Report on Form 10-Q for the period ended March 31, 2026.(2) Non-GAAP income includes the estimated tax impact from the reconciling items between net income (loss) and non-GAAP income.  MAGNITE, INC.
RECONCILIATION OF GAAP EARNINGS (LOSS) PER SHARE TO NON-GAAP EARNINGS PER SHARE
(In thousands, except per share amounts)
(unaudited)
 Three Months Ended March 31, 2026 March 31, 2025GAAP earnings (loss) per share(1):   Basic$0.03 $(0.07)Diluted$0.03 $(0.07)    Non-GAAP income(2)$19,969 $17,857 Non-GAAP earnings per share$0.13 $0.12     Weighted-average shares used to compute basic earnings (loss) per share 143,541  141,852 Dilutive effect of weighted-average common stock options, RSUs, and PSUs 4,509  8,191 Dilutive effect of weighted-average ESPP shares 27  65 Dilutive effect of weighted-average Convertible Senior Notes 2,639  3,210 Non-GAAP weighted-average shares outstanding 150,716  153,318      (1) Calculated as net income (loss) divided by basic and diluted weighted-average shares used to compute basic and diluted earnings (loss) per share as included in the condensed consolidated statement of operations.(2) Refer to reconciliation of net income (loss) to non-GAAP income. MAGNITE, INC.
CONTRIBUTION EX-TAC BY CHANNEL
(In thousands)
(unaudited)
 Contribution ex-TAC Three Months Ended March 31, 2026 March 31, 2025Channel:       CTV$82,269 51% $63,225 43%Mobile 55,351 34%  58,008 40%Desktop 23,284 15%  24,615 17%Total$160,904 100% $145,848 100%