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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%

Magnite, Inc. (MGNI) Q1 2026 Earnings Call Transcript

STOCKHOLM, June 03, 2026 (GLOBE NEWSWIRE) -- Magnite (NASDAQ: MGNI), the largest independent sell-side advertising company, has announced a partnership with dentsu in Sweden to help accelerate innovation and performance across the media supply chain. This builds on the companies’ existing EMEA partnership which sees dentsu leverage Magnite’s built-for-video tools and technology to power AMX Premium Video, dentsu’s premium video solution delivering improved reach and efficiency.

As programmatic adoption continues to accelerate, this signals a step forward for the Swedish CTV market. By leveraging Magnite’s programmatic infrastructure and relationships with premium publishers, dentsu is helping drive the next evolution of CTV buying in Sweden by enabling more intelligent, data-driven and scalable activation across premium CTV inventory.

“Sweden’s CTV market has matured rapidly over the past year, and we’re seeing growing demand from advertisers for smarter, more transparent ways to activate premium CTV at scale,” said Natasha Westlund, Head of Nordics at Magnite. “dentsu is at the forefront of this evolution, helping shape the future of programmatic CTV buying in the Nordics. By combining Magnite’s technology with dentsu’s forward-looking approach to algorithmic planning, we’re enabling more efficient activation and greater control.”

“As we continue to evolve our dentsu premium video solution, AMX Premium Video, it’s critical that we work with partners who can provide the technology, transparency and interoperability needed to make smarter decisions across the media ecosystem,” said Christian Rissel, Head of dentsu Amplifi. “Magnite is helping us move beyond transactional media buying towards a more curated, intelligent and outcome-driven approach.”

Magnite helps dentsu gain greater visibility and control across its media buys, enabling more informed decision-making and optimisation across video. In consolidating access to premium supply and streamlining deal execution, Magnite enables dentsu to reduce operational friction, move faster from planning to activation, and drive measurable business outcomes for clients.

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 dentsu

Dentsu is an integrated growth and transformation partner to the world’s leading organizations. Founded in 1901 in Tokyo, Japan, and now present in approximately 120 countries, it has a proven track record of nurturing and developing innovations, combining the talents of its global network of leadership brands to develop impactful and integrated growth solutions for clients. Dentsu delivers end-to-end experience transformation (EX) by integrating its services across Media, CXM and Creative, while its business transformation (BX) mindset pushes the boundaries of transformation and sustainable growth for brands, people and society.

Contact:
[email protected]

Magnite is poised for a recovery in 2026, supported by strong Q1 results and attractive valuation metrics. Q1 2026 revenue grew 5.5% YoY to $164M, with adjusted EBITDA up 16% and net income turning positive. MGNI's PEG ratio dropped to 0.37, reflecting compelling value given expected 27% earnings growth in 2026 and margin expansion.

June 11, 2026 08:00 ET  | Source: Teads Holding Co.

A first-of-its-kind publisher operating system that incorporates editorial, native and programmatic demand into the feed to drive maximum revenue.

In strategic partnership with Magnite.

NEW YORK, June 11, 2026 (GLOBE NEWSWIRE) -- Teads (NASDAQ: TEAD), the omnichannel outcomes platform, today announced the launch of the industry's first unified publisher feed operating system, Teads EngageOS. Designed to maximize publisher revenue without compromising long-term audience loyalty, EngageOS treats every user session as a whole, combining editorial recommendations and ads into one auction, thereby optimizing for total session yield. The launch is anchored by a strategic partnership with Magnite (NASDAQ: MGNI), which will seamlessly integrate third-party publisher programmatic demand with Magnite Demand Server and democratize access to native placements.

A New Chapter: From the Company That Created Content Recommendations

The modern publishing ecosystem is facing a critical crossroads. With referral traffic from search declining, monetization strategies are trapped in a trade-off between short-term revenue spikes and long-term audience loyalty. EngageOS solves this tension by delivering the first operating system designed for sustainable publisher monetization and user engagement.

Born from Teads’ twenty-year heritage as the pioneer of the content recommendation space, this platform transforms how publishers value their digital real estate. Instead of treating editorial links and ad units as separate entities and beholden to traditional RPMs, EngageOS introduces a proprietary engine that dynamically prioritizes total revenue based on real-time predictive data. The platform eliminates legacy technical friction, empowering publishers to seamlessly input their own third-party and direct sold demand directly into Teads’ high-impact environments.

EngageOS completely rewrites the publisher economics equation by introducing an AI-driven decisioning model that allows Teads-powered editorial recommendations to actively compete alongside premium ad demand. By using predictive machine learning to evaluate the real-time value of every article and user journey, the platform ensures each interaction generates the highest yield per session while keeping audiences deeply engaged. Ultimately, this future-proofs publisher monetization—designed to ensure that even as external traffic channels shift, media companies remain the primary beneficiaries of their own content, audiences, and data.

"EngageOS is the infrastructure publishers need to solve the historical tension between immediate revenue and long-term sustainability of their relationships with consumers. Our partners told us clearly that they needed more than just better monetization—they needed flexibility,” said Amnon Lahav, Chief Product Officer, Supply, Direct Response and Mid Market at Teads. “We are answering that call with a new way of working that sets publishers up for the next era of advertising, giving them the exact tools required to protect their bottom line and capture significantly higher user engagement and revenue per session (RPS)."

"We're pleased to be a launch partner for EngageOS," said Brian Levine, SVP of Revenue Operations at Penske Media Corporation. "What stood out to us was Teads' focus on building a solution informed by publisher feedback. EngageOS addresses the real trade-offs publishers navigate every day, and we look forward to working with the Teads team as the platform continues to evolve.”

“What makes EngageOS so valuable is how it unifies our entire feed ecosystem,” said Eric Aledort, SVP, Partnerships and Business Development at The Arena Group. “Instead of managing editorial content and ad demand in silos, we can now look at user sessions holistically to capture maximum yield without adding technical friction to our operations."

Democratizing Native Placements

Historically, publishers monetizing native placements through recommendation environments had limited control over programmatic demand, often relying on closed ecosystems. Through the partnership with Magnite, publishers can bring their own SSP demand directly into Teads’ premium native placements for the first time through EngageOS. Publishers can activate demand through their preferred Prebid Server-compatible SSPs, and benefit from a more direct path between buyers and inventory. The result is greater marketplace competition, fewer supply-chain hops, and increased yield for publishers.

"We are proud to deepen our trusted partnership with Teads to build a more open, efficient, and highly profitable publisher ecosystem,” said Ashley Wheeler, SVP of DV+ Platform at Magnite. “By integrating Magnite’s Demand Server directly into EngageOS, we are unlocking historically siloed native environments and delivering unparalleled scale to the open internet. This collaboration democratizes buyer access, reduces hops in the supply chain and focuses on increasing total session yield for premier publishers globally."

Key Pillars of EngageOS:

Holistic Decisioning Engine: A proprietary, real-time orchestration engine built to maximize total publisher revenue. By treating editorial links as active participants in the ad auction, the platform dynamically prioritizes deeper user engagement whenever higher revenue is predicted on an editorial page. This introduces a smarter, more sustainable monetization model that simultaneously protects audience retention and expands the publisher’s bottom line.Multi-Demand Integration: Direct integration with Magnite’s Demand Server connects publishers to programmatic demand through their preferred Prebid Server-compatible SSPs, creating greater competition, supply-chain efficiency, and yield across impressions.Direct-Sold Campaign Execution: Seamlessly activate, manage, and optimize Sales House campaigns within EngageOS placements.Uncompromising Transparency and Control: An AI-powered interface delivering visibility through buyer-level performance reporting - independently verifiable against trusted third-party analytics tools. To request a Demo: Visit https://info.teads.com/teads-engage-os to register for priority access.

Media Contact
[email protected]

Investor Relations Contact
[email protected]
(332) 205-8999

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws, which statements involve substantial risks and uncertainties. Forward-looking statements generally relate to possible or assumed future results of our business, financial condition, results of operations, liquidity, plans and objectives. You can generally identify forward-looking statements because they contain words such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “guidance,” “outlook,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” "foresee,” “potential” or “continue” or the negative of these terms or other similar expressions that concern our expectations, strategy, plans or intentions.

We have based these forward-looking statements largely on our current expectations and projections regarding future events and trends that we believe may affect our business, financial condition and results of operations. The outcome of the events described in these forward-looking statements is subject to risks, uncertainties and other factors, including but not limited to: the risk that EngageOS may not yield the anticipated publisher revenue, yield optimization, or scale as expected; technical challenges related to integrating EngageOS with Magnite's Demand Server and other third-party SSPs; the risk that publishers may not adopt unified feed operating systems at the rates we anticipate; the highly competitive nature of the digital advertising and publisher monetization ecosystems; and the other important risks described in the section entitled “Risk Factors” and elsewhere in the Annual Report on Form 10-K filed for the year ended December 31, 2025, and our Quarterly Report on Form 10-Q filed for the quarter ended March 31, 2026, filed with the Securities and Exchange Commission (the “SEC”), which are available on our website at https://investors.teads.com/ and on the SEC’s website at www.sec.gov.

Accordingly, you should not rely upon forward-looking statements as predictions of future events. We cannot assure you that the results, events and circumstances reflected in the forward-looking statements will be achieved or occur, and actual results, events or circumstances could differ materially from those projected in the forward-looking statements. We undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events. We do not assume any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

About Teads
Teads Holding Co. (“Teads”) (Nasdaq: TEAD) is a leading omnichannel advertising platform focused on driving outcomes for brand and performance advertisers across screens. With a focus on meaningful business outcomes for full funnel objectives, Teads drives value by leveraging predictive AI technology to connect quality media, beautiful brand creative, and context-driven addressability and measurement. Teads is directly partnered with more than 10,000 publishers and 20,000 advertisers globally. The company is headquartered in New York, New York, with a global team of around 1,700 people in 30+ countries.

For more information, visit www.teads.com.