The earnings call highlighted strong growth in CTV and expanded partnerships with major players like Netflix and Disney, leading to robust financial performance and cash flow. However, challenges in the DV+ segment and a decline in managed service indicate areas needing improvement. Overall, the positive aspects outweigh the negatives.

Company Guidance

In the earnings call for Magnite's third quarter of 2024, the company provided an optimistic outlook with several key metrics reflecting their growth and strategic advancements. The company reported a total revenue of $162 million, up 8% from Q3 2023, with contribution ex-TAC growing by 12% to $149 million. CTV contribution ex-TAC increased by 23% year-over-year to $64.4 million, driven by expanding programmatic adoption and partnerships with major players like Netflix and Disney. The company also highlighted a 5% growth in DV+ contribution ex-TAC, with improved efficiency as the cost per ad request decreased by approximately 30% year-over-year. Adjusted EBITDA rose to $51 million, representing a 34% margin, and GAAP earnings per share turned positive at $0.04 compared to a loss in the previous year. Additionally, the company achieved a net leverage ratio of 0.9x, surpassing their target ahead of schedule. Looking forward, Magnite raised its full-year guidance, expecting contribution ex-TAC growth of 11% to 12% and adjusted EBITDA to grow by more than 15%, with free cash flow anticipated to increase by approximately 20%.

Strong CTV Growth

Contribution ex-TAC from CTV accelerated to 23% year-over-year growth, up from 12% in Q2, driven by increased programmatic adoption and partnerships with major players like Netflix and Disney.

Partnership Expansions

Extended and expanded partnerships with Netflix and Disney, including new inclusion of live sports and international regions.

Financial Performance

Q3 revenue was $162 million, up 8% from Q3 2023, with a 12% increase in contribution ex-TAC. Adjusted EBITDA grew 26% year-over-year to $51 million with a 34% margin.

Strong Cash Position

Operating cash flow was $40 million for the quarter, with a cash balance of $387 million, a 19% increase from Q2.

Programmatic Innovation

Significant progress in AI-driven cost efficiency, reducing costs by approximately 30%, and a 100% year-over-year growth in revenue from curating publisher audiences.

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Magnite (MGNI) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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MGNI Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Feb 26, 2025	2024 (Q4)	0.39 / -	0.29	―	―	―
Nov 07, 2024	2024 (Q3)	0.16 / 0.17	0.12	41.67% (+0.05)
Aug 07, 2024	2024 (Q2)	0.15 / 0.14	0.09	55.56% (+0.05)
May 08, 2024	2024 (Q1)	0.00 / 0.05	0.04	25.00% (+0.01)
Feb 28, 2024	2023 (Q4)	0.28 / 0.29	0.24	20.83% (+0.05)
Nov 08, 2023	2023 (Q3)	0.12 / 0.12	0.18	-33.33% (-0.06)
Aug 09, 2023	2023 (Q2)	0.07 / 0.09	0.14	-35.71% (-0.05)
May 10, 2023	2023 (Q1)	-0.06 / 0.04	0.08	-50.00% (-0.04)
Feb 22, 2023	2022 (Q4)	0.32 / 0.24	0.26	-7.69% (-0.02)
Nov 09, 2022	2022 (Q3)	0.14 / 0.18	0.14	28.57% (+0.04)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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MGNI Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 07, 2024	$13.49	$13.61	+0.89%
Aug 07, 2024	$12.90	$12.75	-1.16%
May 08, 2024	$8.90	$9.23	+3.71%
Feb 28, 2024	$10.47	$12.02	+14.80%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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