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Magnite (MGNI)
NASDAQ:MGNI
Earnings Data
Report Date
Feb 26, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.39Last Year’s EPS
0.29Same Quarter Last Year
Strong Buy
Based on 12 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Feb 26, 2025
|% Change Since: -6.47%
|Next Earnings Date:May 07, 2025
Earnings Call Sentiment|Positive
Magnite's earnings call showed a strong financial performance and promising growth in CTV, supported by successful partnerships and technological advancements. However, the unexpected underperformance in the DV+ segment due to post-election demand drops presents a notable challenge. Despite this, the overall outlook remains optimistic with strategic initiatives aimed at driving further growth.Company Guidance
In the Magnite Fourth Quarter 2024 Earnings Call, the company reported significant financial achievements, including a record contribution ex-TAC of $607 million and processed ad spend exceeding $6 billion. The adjusted EBITDA reached $197 million, while free cash flow stood at $118 million, both marking record highs. The call highlighted a 23% year-over-year increase in CTV contribution ex-TAC for Q4, surpassing the guidance range of 18% to 21%, and a full-year growth of 19% in CTV contribution ex-TAC. Despite a disappointing DV+ performance with only 1% growth due to unusual post-election spending patterns, the company expressed optimism for 2025, citing a rebound in DV+ to mid to high single-digit growth. Additionally, the call underscored the significant growth from partnerships with major players like Roku, LG, Vizio, Walmart, Disney, Fox, Warner Discovery, and Paramount, along with the potential of Netflix’s expanding global ad tier. The company also focused on cost efficiency, reporting a 26% decrease in DV+ and a 45% reduction in CTV cost per ad request in 2024. Looking ahead, Magnite projected a greater than 10% growth in total contribution ex-TAC for 2025, with mid-teens growth excluding political factors, and anticipated a mid-teens growth in adjusted EBITDA, expanding margins, and free cash flow growth in the high teens to 20% range.Record Financial Performance
Magnite achieved record highs with a contribution ex-TAC of $607 million, processed ad spend of over $6 billion, adjusted EBITDA of $197 million, and free cash flow of $118 million for the fiscal year 2024.
Strong CTV Growth
Connected TV (CTV) contribution ex-TAC increased 23% year-over-year for Q4, outperforming the guidance range of 18% to 21%. For the full year 2024, CTV contribution ex-TAC grew 19%.
Successful Partnerships and New Deals
Magnite saw significant growth from partnerships with Roku, LG, Vizio, Walmart, Disney, Fox, Warner Discovery, Paramount, and Netflix. The company also expanded its international sports business with partners like FIFA and Sky New Zealand.
AI and Technological Advancements
Magnite is set to release new client-facing tools powered by generative AI in 2025, aimed at optimizing ad requests and improving operational efficiencies.
Improved Cost Efficiency
The company achieved a 26% reduction in cost per ad request for DV+ and a 45% reduction for CTV in 2024, with plans for further efficiency improvements in 2025.
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MGNI Earnings History
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 |
|---|---|---|---|
| Feb 26, 2025 | $16.86 | $16.55 | -1.84% |
| 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% |
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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FAQ
When does Magnite (MGNI) report earnings?
Magnite (MGNI) is schdueled to report earning on Feb 26, 2025, TBA Not Confirmed.
What is Magnite (MGNI) earnings time?
Magnite (MGNI) earnings time is at Feb 26, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is MGNI EPS forecast?
MGNI EPS forecast for the fiscal quarter 2024 (Q4) is 0.39.
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