Acquisitions and Partnerships - Magnite completed the acquisition of SpotX on April 30, 2021, and SpringServe on July 1, 2021, enhancing its position as the largest independent omni-channel sell-side advertising platform[20]. - The company has invested significant resources in building long-term strategic partnerships with a limited number of CTV sellers, focusing on a full-service business development strategy[79]. Revenue and Financial Performance - Revenue for the year ended December 31, 2023, was $619.7 million, an increase of 7.4% compared to $577.1 million in 2022[397]. - Total revenue for the year ended December 31, 2023, was $619.7 million, an increase from $577.1 million in 2022, with net basis revenue accounting for 82% and gross basis revenue accounting for 18% of total revenue[479]. - The company's revenue by channel for 2023 included $282.1 million from CTV (46% of total revenue), $232.5 million from Mobile (37%), and $105.1 million from Desktop (17%)[479]. - The company reported a total stockholders' equity of $701,683 thousand as of December 31, 2023, compared to $791,298 thousand at the end of 2022[403]. - The company recognized a total of $111.2 million in gross revenue for the year ended December 31, 2023, compared to $101.4 million in 2022, indicating growth in gross revenue transactions[479]. Expenses and Losses - Total expenses for 2023 were $774.7 million, up from $689.9 million in 2022, reflecting a 12.3% increase[397]. - The net loss for 2023 was $159.2 million, compared to a net loss of $130.3 million in 2022, representing a 22.2% increase in losses[397]. - The company’s accumulated deficit increased to $684.0 million in 2023 from $524.8 million in 2022, reflecting a 30.4% increase[395]. - The company’s interest expense for 2023 was $32.4 million, compared to $29.3 million in 2022, marking an increase of 7.1%[397]. Operational Efficiency and Technology - The company aims to increase operational efficiency on its platform, enhancing traffic optimization and bid filtering technology to monetize a higher proportion of ad requests, thereby reducing costs for both the company and buyers[59]. - The company utilizes big data and machine-learning algorithms to improve matching between buyers and sellers, enhancing the overall value proposition of its platform[42]. - The company is committed to continuous innovation, with plans to enhance its platform features, including first-party publisher segments and brand safety controls[62]. Market Presence and Growth - The company operates globally with established presences in North America, Australia, and Europe, and is expanding in Asia and South America[25]. - The company expects Connected TV (CTV) to be the largest driver of growth, with significant investments planned in technology, sales, and support for CTV initiatives, including the launch of Magnite Streaming[54]. - The company’s international revenue for 2023 was $157.5 million, up from $129.4 million in 2022, highlighting expansion in international markets[479]. Risks and Challenges - The company is exposed to market risks including interest rate, foreign exchange, and inflation risks, which may be exacerbated by global macroeconomic challenges[370]. - The company faces challenges in recruiting and managing a diverse workforce across different geographic markets, which may affect its operations[87]. - The company operates in a highly competitive digital advertising market, facing significant competition from large companies like Google and Amazon, while also navigating the evolving landscape of advertising technology[68]. Compliance and Ethical Standards - The company is committed to promoting high standards of ethical business conduct and compliance, with annual training on harassment and discrimination for employees[73]. - The company does not collect personally identifiable information, relying instead on pseudonymous data forms, which are subject to various privacy regulations[89]. Cash Flow and Liquidity - Net cash provided by operating activities for 2023 was $214,367 thousand, an increase from $192,550 thousand in 2022[406]. - The company’s cash equivalents increased to $281.2 million as of December 31, 2023, from $259.6 million in 2022, indicating improved liquidity[484]. - Cash and cash equivalents remained relatively stable at $326.2 million in 2023, slightly down from $326.3 million in 2022[395]. Accounts Receivable and Payable - Accounts receivable increased to $1.18 billion in 2023 from $976.5 million in 2022, indicating a 20.5% rise[395]. - The allowance for doubtful accounts increased to $20.4 million as of December 31, 2023, from $1.1 million in 2022, primarily due to a significant credit loss from a buyer filing for bankruptcy[482]. - The company experienced a significant increase in accounts payable and accrued expenses, which rose to $1.37 billion in 2023 from $1.09 billion in 2022, a 25.6% increase[395].

NEW YORK, Jan. 22, 2024 (GLOBE NEWSWIRE) -- Magnite (NASDAQ:MGNI), the world's largest independent sell-side advertising company, today announced its intention to refinance its outstanding senior secured credit facilities. The Company intends to replace its existing credit facilities, consisting of a $360.0 million term loan facility and a $65.0 million revolving credit facility (the "Existing Credit Facilities"), with a new senior secured term loan facility with an expected seven-year maturity (with no spr ...

SYDNEY, Jan. 11, 2024 (GLOBE NEWSWIRE) -- Magnite (NASDAQ:MGNI), the world's largest independent sell-side advertising company, announced that Tennis Australia has selected Demand Manager as their Prebid header bidding wrapper solution. Tennis Australia will leverage Magnite's DV+ platform and solely implement Demand Manager as their wrapper solution to monetise their display and mobile inventory programmatically for the first time and ahead of the Australian Open. Tennis Australia is the governing body for ...

Magnite (MGNI) . The partnership with Snowflake enables agencies, advertisers and media proprietors to have the opportunity to utilize data in alignment with their specific business requirements across Magnite’s extensive streaming inventory.Magnite intends to continuously invest in providing seamless services to its clients from different domains.The Zacks Consensus Estimate for Magnite’s revenues for fiscal 2023 is pegged at $544.10 million, indicating a decrease of 5.71% year over year. The decline can b ...

Magnite, Inc. (NASDAQ:MGNI) Q3 2023 Earnings Conference Call November 8, 2023 4:30 PM ET Company Participants Nick Kormeluk - IR Michael Barrett - President and CEO David Day - CFO Conference Call Participants Jason Kreyer - Craig-Hallum Shyam Patil - Susquehanna Dan Kurnos - The Benchmark Company Laura Martin - Needham Nick Zangler - Stephens Shweta Khajuria - Evercore ISI Matt Swanson - RBC Capital Markets Dan Day - B. Riley FBR Tim Nollen - Macquarie Operator Good afternoon and welcome to the Magnite Thi ...

© Magnite | 1 SÿĄă HÿrĀor We discuss many of these risks and additional factors that could cause actual results 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 presentation 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 ...

Acquisitions and Mergers - The company completed the acquisition of SpotX, SpringServe, and the merger with Telaria, enhancing its position as the largest independent omni-channel sell-side advertising platform[115]. - The SpringServe Acquisition expanded the company's video and CTV offerings, providing a holistic yield management solution for publishers[147]. - The company announced the launch of Magnite Access in June 2023, a suite of products aimed at helping publishers manage data assets to generate more revenue, leveraging technologies from recent acquisitions[128]. Revenue Growth and Performance - Revenue for the three months ended September 30, 2023, was $150.1 million, a 3% increase from $145.8 million in the prior year, while revenue for the nine months ended September 30, 2023, was $432.8 million, an 8% increase from $401.7 million[192]. - Revenue for the three months ended September 30, 2023, increased by $4.3 million, or 3%, compared to the prior year period, driven primarily by a $10.3 million, or 22%, increase in mobile revenue[167]. - Revenue for the nine months ended September 30, 2023, increased by $31.1 million, or 8%, with mobile revenue growing by $29.4 million, or 23%[168]. - Contribution ex-TAC increased by $5.5 million, or 4%, for the three months ended September 30, 2023, primarily due to growth in mobile, while it increased by $25.9 million, or 7%, for the nine months ended September 30, 2023[196][197]. Advertising Trends - The anticipated growth in CTV advertising spend may be slower than expected due to macroeconomic challenges and industry growth rate inaccuracies[106]. - The shift towards digital advertising is expected to continue, with a growing percentage of advertising dollars being spent through digital channels[124]. - Programmatic advertising is becoming the dominant method for transacting desktop, CTV, and mobile inventory, driven by the need for automation and transparency[125]. - CTV viewership is rapidly growing, leading to a shift in advertising budgets from linear TV to CTV, which is expected to significantly drive revenue growth[126]. Financial Challenges and Costs - The company has faced macroeconomic challenges, including inflation and global conflicts, which have negatively impacted advertising budgets and slowed ad spend growth[149]. - Cost of revenue for the three months ended September 30, 2023, increased by $13.1 million, or 18%, primarily due to an $8.9 million increase in depreciation and amortization[171]. - Cost of revenue for the nine months ended September 30, 2023, increased by $143.7 million, or 73%, mainly driven by a $117.4 million increase in depreciation and amortization[172]. - General and administrative expenses increased by $1.1 million, or 5%, for the three months ended September 30, 2023, and by $8.6 million, or 15%, for the nine months ended September 30, 2023, mainly due to an increase in bad debt expense[182][183]. Workforce and Operational Adjustments - The company reduced its global workforce by approximately 6% during the three months ended March 31, 2023, primarily to eliminate duplicative technology roles from the integration of CTV platforms[148]. - Technology and development expenses decreased by $1.6 million, or 6%, for the three months ended September 30, 2023, primarily due to a decrease in personnel expenses[179]. Cash Flow and Liquidity - As of September 30, 2023, the company had cash and cash equivalents of $310.5 million, with $627.0 million in outstanding indebtedness under its Term Loan B Facility and Convertible Senior Notes[201]. - Net cash provided by operating activities for the nine months ended September 30, 2023, was $125.3 million, an increase from $103.8 million for the same period in 2022[216]. - Cash flows used in investing activities for the nine months ended September 30, 2023, were $25.3 million, compared to $49.9 million in the prior year[219]. - The company’s working capital needs may fluctuate due to seasonality and macroeconomic challenges, impacting cash flows and liquidity[203]. Future Outlook and Strategic Initiatives - The company aims to increase the scale and efficiency of its technology infrastructure to support growth and address risks related to technological developments[106]. - The introduction of new offerings, including the Magnite Streaming platform and ClearLine solution, is expected to drive future revenue growth[106]. - The company expects cash flows from operations to generally increase over time as the business continues to grow[217]. - The company anticipates a decrease in capital expenditures and investments in internal use software development in 2023 compared to 2022[218]. Risks and Compliance - The company faces risks related to competition, integration of CTV platforms, and the ability to maintain client relationships amid market changes[106]. - The company is monitoring developments in privacy regulations, which could impose additional compliance costs and impact revenue[138]. - The company supports industry privacy initiatives, believing they will enhance consumer trust in digital advertising, although short-term revenue variability may occur due to these changes[129].

Magnite, Inc. (NASDAQ:MGNI) Q2 2023 Earnings Conference Call August 9, 2023 4:30 PM ET Company Participants Nick Kormeluk - Investor Relations Michael Barrett - President and Chief Executive Officer David Day - Chief Financial Officer Conference Call Participants Jason Kreyer - Craig-Hallum Shyam Patil - Susquehanna Laura Martin - Needham Nick Zangler - Stephens Daniel Kurnos - The Benchmark Company Matthew Thornton - Truist Securities Dan Day - B. Riley Securities Tim Nollen - Macquarie Operator Good day a ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Commission File Number: 001-36384 __________________ MAGNITE, INC. (Exact name of registrant as specified in its charter) __________________ (State or other jurisdiction of incorporation or organization) Washington, D.C. 20549 __________________ FORM 10-Q __________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT P ...

Magnite, Inc. (NASDAQ:MGNI) Q1 2023 Earnings Conference Call May 10, 2022 4:30 PM ET Company Participants Nick Kormeluk - VP, IR & Head, Global Real Estate Michael Barrett - President, CEO & Director David Day - CFO Conference Call Participants Laura Martin - Needham & Company Shyam Patil - Susquehanna Financial Group Jason Kreyer - Craig-Hallum Nicholas Zangler - Stephens Inc. Matthew Swanson - RBC Capital Markets Dan Day - B. Riley FBR, Inc Operator Hello and welcome to the Magnite First Quarter 2023 Earn ...