The online advertising market is getting back on its digital feet. These two digital ad tech stocks are poised to perform in this sector rebound.April is drawing to a close. Tax season is behind us, the kids only have a few more weeks of school, and spring has sprung.Meanwhile, the first-quarter earnings season is just starting up. Online ad giants Roku (ROKU -10.29%) and Alphabet (GOOG 9.96%) (GOOGL 10.22%) posted analyst-stumping results last week, suggesting that the digital ad tech industry is back on s ...

In the latest trading session, Magnite (MGNI) closed at $9.97, marking a +1.22% move from the previous day. The stock exceeded the S&P 500, which registered a gain of 0.15% for the day. Meanwhile, the Dow experienced a drop of 0.02%, and the technology-dominated Nasdaq saw an increase of 0.32%.Shares of the digital ad exchange operator have depreciated by 13.22% over the course of the past month, underperforming the Computer and Technology sector's gain of 1.32% and the S&P 500's gain of 1.65%.Market partic ...

NEW YORK, March 14, 2024 (GLOBE NEWSWIRE) -- Magnite (NASDAQ:MGNI), the largest independent sell-side advertising company, and Mediaocean, the mission-critical platform for omnichannel advertising, today announced an exclusive partnership to bring deeper automation and greater supply path efficiency to Mediaocean's Prisma buyers for connected TV (CTV) and online video (OLV). This partnership enables Prisma users to activate streaming campaigns directly with premium video sellers through Magnite's ClearLine ...

Investors with an interest in Internet - Software stocks have likely encountered both Magnite (MGNI) and Palo Alto Networks (PANW) . But which of these two stocks is more attractive to value investors? We'll need to take a closer look to find out.We have found that the best way to discover great value opportunities is to pair a strong Zacks Rank with a great grade in the Value category of our Style Scores system. The proven Zacks Rank emphasizes companies with positive estimate revision trends, and our Styl ...

Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Is Magnite (MGNI) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.Magnite is a member of our Computer and Technology group, which includes 622 different companies and currently sits at #6 in the Zacks Sector Rank. The Zacks Sector Rank considers 1 ...

Magnite (MGNI) closed the last trading session at $11.57, gaining 25.9% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $14.75 indicates a 27.5% upside potential.The average comprises eight short-term price targets ranging from a low of $11 to a high of $18, with a standard deviation of $2.38. While the lowest estimate indicates a decline of 4.9% from the current price level, the m ...

Magnite, Inc. (NASDAQ:MGNI) Q4 2023 Earnings Conference Call February 28, 2024 4:30 PM ET Company Participants Nick Kormeluk - IR Michael Barrett - President and CEO David Day - CFO Conference Call Participants Daniel Kurnos - The Benchmark Company Laura Martin - Needham Jason Kreyer - Craig-Hallum Shweta Khajuria - Evercore ISI Daniel Day - B. Riley Omar Dessouky - Bank of America Matthew Swanson - RBC Capital Markets Operator Good day and welcome to the Magnite Q4 2023 Earnings Conference Call. All partic ...

Financial Performance - Q4 2023 - Revenue increased by 7% year-over-year, from $175.4 million to $186.9 million[3] - Gross Profit increased significantly by 82% year-over-year, from $64.4 million to $116.9 million[3] - Net income saw a substantial turnaround, with a 185% increase from a loss of $36.4 million to a profit of $30.9 million[3] - Adjusted EBITDA increased by 10% year-over-year, from $64.2 million to $70.4 million, with an Adjusted EBITDA margin of 43%[3] - Non-GAAP earnings per share increased by 21% year-over-year, from $0.24 to $0.29[3] Full Year 2023 Highlights - Total Contribution ex-TAC grew 7% year-over-year to $549.1 million, from $514.6 million in 2022[6] - Contribution ex-TAC attributable to CTV was $218.5 million, an increase of 2% year-over-year[6] - Contribution ex-TAC attributable to DV+ grew 10% year-over-year to $330.7 million[6] - Total ad spend over $5.0 billion, representing growth approaching 20%[6] Capital Allocation - Board approved a new $125 million stock and convertible note repurchase program through February 2026[1]

Exhibit 99.1 Magnite Reports Fourth Quarter and Full-Year 2023 Results Total Revenue up 7% & Contribution ex-TAC up 6% in Fourth Quarter (1) Adjusted EBITDA Margin of 43% in Fourth Quarter (2) Full-Year 2023 CTV Ad Spend Growth Over 20% (3) NEW YORK – February 28, 2024 – Magnite (NASDAQ: MGNI), the world's largest independent sell-side advertising company, today reported its results of operations for the fourth quarter and year ended December 31, 2023. Recent Highlights: Expectations: section called "Non-GA ...

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].