Revenue and Growth - Revenue for Q3 2025 was $179.5 million, an 11% increase year-over-year[6] - Contribution ex-TAC for Q3 2025 was $166.8 million, up 12% year-over-year, exceeding guidance of $161 to $165 million[6] - Contribution ex-TAC attributable to CTV was $75.8 million, an 18% increase year-over-year, exceeding guidance of $71 to $73 million[6] - Full-Year 2025 expectations for total Contribution ex-TAC are between $191 million and $196 million, representing growth of 6% to 9%[6] - Contribution ex-TAC attributable to CTV for Q4 2025 is expected to be between $87 million and $89 million, representing growth of 12% to 14%[6] - The company anticipates total Contribution ex-TAC growth above 10%, or mid-teens excluding political[6] - The company reported a total of $508,597 thousand in revenue for the nine months ended September 30, 2025, compared to $474,202 thousand for the same period in 2024, reflecting a growth of 7.3%[30] - Revenue for the nine months ended September 30, 2025, increased to $508,597,000, up 7.3% from $474,202,000 in the same period of 2024[37] Profitability - Net income for Q3 2025 was $20.1 million, compared to $5.2 million in Q3 2024, representing a 285% increase[8] - Adjusted EBITDA for Q3 2025 was $57.2 million, up 13% year-over-year, with a margin of 34%[6] - Adjusted EBITDA for the three months ended September 30, 2025, was influenced by revenue of $179,494 thousand, a 10.2% increase from $162,003 thousand in the same period of 2024[30] - Net income for the three months ended September 30, 2025, was $20,058 thousand, compared to $5,214 thousand for the same period in 2024, representing a significant increase[30] - Non-GAAP income for the nine months ended September 30, 2025, was $80,141,000, compared to $55,011,000 in the same period of 2024, reflecting a 45.6% increase[42] - Basic earnings per share for the three months ended September 30, 2025, was $0.14, compared to $0.04 for the same period in 2024[30] - Basic earnings per share for the nine months ended September 30, 2025, was $0.15, compared to a loss of $0.10 per share in the same period of 2024[36] - Non-GAAP earnings per share for the three months ended September 30, 2025, was $0.20, compared to $0.17 in the same period of 2024[44] Expenses and Liabilities - Total expenses for the three months ended September 30, 2025, were $154,453 thousand, an increase from $146,880 thousand in the same period of 2024[30] - Stock-based compensation expense for the three months ended September 30, 2025, was $18,044 thousand, slightly down from $18,670 thousand in the same period of 2024[31] - Total liabilities as of September 30, 2025, were $2,112,739 thousand, compared to $2,086,550 thousand as of December 31, 2024[28] Assets and Cash Flow - Total current assets as of September 30, 2025, were $1,725,514 thousand, up from $1,703,180 thousand as of December 31, 2024[28] - Cash and cash equivalents as of September 30, 2025, were $482,127 thousand, compared to $483,220 thousand as of December 31, 2024[28] - The company’s total assets as of September 30, 2025, were $2,920,693 thousand, an increase from $2,854,768 thousand as of December 31, 2024[28] - Cash provided by operating activities for the nine months ended September 30, 2025, was $107,711,000, down from $120,504,000 in the same period of 2024[34] - Net cash used in investing activities for the nine months ended September 30, 2025, was $63,741,000, compared to $40,669,000 in the same period of 2024, indicating increased investment[34] - Cash paid for interest decreased to $21,674,000 for the nine months ended September 30, 2025, from $28,748,000 in the same period of 2024, showing improved interest management[35] Shareholder Information - The weighted-average shares used to compute basic earnings per share increased to 143,009,000 for the three months ended September 30, 2025, from 141,270,000 in 2024[44] - The dilutive effect of weighted-average common stock options, RSUs, and PSUs was 10,105,000 for the three months ended September 30, 2025[44] - For the three months ended September 30, 2025, GAAP diluted earnings per share increased to $0.13 compared to $0.04 for the same period in 2024[44] Channel Performance - Contribution ex-TAC from CTV for the three months ended September 30, 2025, was $75,847,000, accounting for 45% of total contribution, compared to 43% in the same period of 2024[46] - Mobile channel contribution ex-TAC for the three months ended September 30, 2025, was $64,428,000, representing 40% of total contribution, consistent with the previous year[46] - Desktop channel contribution ex-TAC for the three months ended September 30, 2025, was $26,504,000, maintaining a 17% share of total contribution[46] - Total contribution ex-TAC for the nine months ended September 30, 2025, reached $474,583,000, a 11.2% increase from $426,744,000 in 2024[46] Strategic Initiatives - The acquisition of streamer.ai is expected to provide early benefits, particularly among SMB advertisers[5] - Adjusted EBITDA margin is expected to expand by approximately 180 basis points[6]

Core Insights - Magnite reported a revenue of $179.5 million for Q3 2025, representing an 11% year-over-year increase, and exceeded guidance expectations [5][7] - Contribution ex-TAC reached $166.8 million, up 12% year-over-year, with a notable 18% growth in CTV contributions [5][4] - The company anticipates continued growth in the upcoming quarters, with expectations for total Contribution ex-TAC to be between $191 million and $196 million [5][4] Q3 2025 Highlights - Revenue of $179.5 million, up 11% from $162.0 million in Q3 2024 [7] - Contribution ex-TAC of $166.8 million, up 12% year-over-year, exceeding guidance [5][7] - Net income of $20.1 million, a significant increase from $5.2 million in Q3 2024 [5][7] - Adjusted EBITDA of $57.2 million, up 13% year-over-year, maintaining a 34% margin [5][7] Q4 2025 Expectations - Total Contribution ex-TAC expected to grow between 6% to 9%, or 13% to 16% excluding political contributions [5] - Contribution ex-TAC from CTV projected to be between $87 million and $89 million, indicating a growth of 12% to 14% [5] - Adjusted EBITDA margin expected to expand to approximately 35% [5] Full-Year 2025 Expectations - The company expects total Contribution ex-TAC growth above 10%, with mid-teens growth excluding political contributions [5] - Adjusted EBITDA is anticipated to grow in the mid-teens percentage range [5] Financial Performance Summary - For the nine months ended September 30, 2025, revenue totaled $508.6 million, up 7% from $474.2 million in the same period of 2024 [7] - Contribution ex-TAC for the nine months reached $474.6 million, an 11% increase year-over-year [7] - Non-GAAP earnings per share for Q3 2025 were $0.20, compared to $0.17 in Q3 2024 [5][7]

Core Insights - Maestria Partners LLC sold approximately 293,146 shares of Magnite, valued at an estimated $6.92 million, as disclosed in a SEC filing on October 31, 2025 [1][2] - Following the sale, Maestria holds about 1.14 million shares of Magnite, valued at $24.85 million, representing 7.86% of its $316.35 million U.S. equity portfolio [2][3] Company Overview - Magnite, Inc. is a leading sell-side advertising technology provider, enabling publishers to monetize digital inventory across various channels [5][6] - The company operates an independent advertising platform for digital media publishers, generating revenue by facilitating digital advertising transactions [6] Financial Metrics - As of October 30, 2025, Magnite's share price was $17.31, with a market capitalization of $2.58 billion [4] - The company reported a revenue of $685.07 million and a net income of $43.13 million for the trailing twelve months (TTM) [4] Performance Analysis - Magnite shares have increased by 141% over the past three years, with a compound annual growth rate (CAGR) of 34.2%, outperforming the S&P 500 by 21.30 percentage points [3][9] - The stock reached a 52-week high of $26.52 during Q3 2025, but has since declined approximately 33% following an antitrust ruling favoring Google [9][10]

Core Insights - ITN and Magnite have launched the first Local Linear TV Private Marketplace, aiming to bridge the programmatic gap for local broadcast [1][3] - This initiative allows buyers to utilize digital-like workflows for local linear TV, enhancing flexibility, visibility, and automation while maintaining local stations' control over their inventory [1][3] Group 1: Collaboration and Technology - Local linear TV inventory is now accessible through Magnite's ClearLine platform, enabling buyers to discover, package, and activate video ad campaigns in one place [2] - The integration of local broadcast's scale and cultural impact with digital execution's efficiency marks a significant advancement towards independent local TV programmatic activation [3][4] - Future enhancements will include advanced capabilities for spot TV, direct-to-station access, and precision audience targeting, solidifying linear TV's role in the programmatic landscape [5] Group 2: Features and Benefits - Bid multiplier forecasting allows for impression-based planning in linear delivery, improving precision and efficiency in media activation [4] - ITN has introduced advanced campaign management tools that provide buyers with digital-like control and transparency throughout the campaign process [4][6] - Buyers can now activate live local linear TV alongside streaming and digital video through real-time bidding, creating a converged media strategy [7] Group 3: Company Profiles - ITN is recognized for its automated activation technology and aims to redefine local TV activation across various channels, enhancing operational efficiency for agencies [8] - Magnite, as the largest independent sell-side advertising company, provides technology for publishers to monetize content across multiple formats, ensuring access to high-quality ad inventory [9]

Core Insights - Magnite, Inc. is recognized as one of the most oversold mid-cap stocks to buy according to hedge funds [1] - The company has announced that members of the Digital News Publishers Association (DNPA) have adopted its audience activation platform, Magnite Access [1] Group 1: Business Developments - The partnership with DNPA allows its members to have greater control over first-party data and provides advertisers with direct access to high-quality inventory from premium publishers [2] - This initiative is in response to the increasing demand for transparent and privacy-conscious advertising solutions in India's growing digital media market [2] - Recent developments at Magnite include integrations with Acxiom for enhanced data targeting, the launch of CTV "Pause Ads," and a programmatic partnership with Paramount+ in Australia [3] Group 2: Company Overview - Magnite operates one of the world's largest independent sell-side advertising platforms, helping publishers monetize content across various environments including CTV, online video, display, and mobile [3] - The company's tools provide advertisers with increased transparency and control over their advertising efforts [3]

Core Insights - The article emphasizes the importance of investing in growth and momentum stocks that are reasonably priced and have the potential to outperform the market in the long term [1] - It highlights a successful investment strategy where the S&P 500 increased by 367% and the Nasdaq by 685% from March 2009 to 2019, following a recommendation to buy at the financial crisis's bottom [1] Investment Strategy - The focus is on long-term investment in high-quality growth stocks, utilizing options as part of the strategy [1] - The aim is to assist investors in generating returns through strategic investments in quality stocks [1]

Core Insights - The article emphasizes the importance of investing in growth and momentum stocks that are reasonably priced and have the potential to outperform the market over the long term [1] - It highlights a significant market recovery, noting that the S&P 500 increased by 367% and the Nasdaq by 685% from March 2009 to 2019, following a recommendation to buy at the financial crisis's bottom [1] Group 1 - The focus is on long-term investment strategies in high-quality growth stocks [1] - The use of options as part of the investment strategy is mentioned [1] - The goal is to assist investors in making money through strategic investments [1]

Core Insights - Magnite and the Digital News Publishers Association (DNPA) have announced that several DNPA members will adopt Magnite Access, a self-service tool for audience segment activation [1][2] - This collaboration aims to create a shared data infrastructure for DNPA publishers, enabling them to deploy high-value audience segments and enhance the value of their premium inventory [2][3] Group 1: Company Overview - Magnite is the largest independent sell-side advertising company, providing technology for publishers to monetize content across various formats including CTV, online video, display, and audio [4] - The company operates globally with offices in major cities such as New York, Los Angeles, London, Singapore, Mumbai, and Sydney [4] Group 2: Industry Context - The DNPA represents 22 leading digital news media publishers in India, focusing on promoting high standards of journalism and driving digital innovation [5] - The partnership with Magnite is seen as a forward-looking approach to address industry challenges and enhance collaboration among publishers [3]

Core Viewpoint - Magnite's stock declined significantly due to the antitrust ruling favoring Google, which is perceived as a setback for competitors in the adtech space [1][4]. Group 1: Stock Performance - Magnite's shares fell 16% in September, reflecting investor concerns following the antitrust ruling that allowed Google to retain ownership of Chrome [2]. - The stock experienced a brief spike after Magnite filed a lawsuit against Google, but overall, it mostly trended downward throughout the month [3]. Group 2: Legal Actions - Magnite filed a lawsuit against Google on September 16, claiming financial damages and remedies for Google's alleged anticompetitive practices in the ad exchange and ad server markets [5]. - This lawsuit positions Magnite as the third supply-side platform (SSP) to take legal action against Google in recent months, indicating ongoing tensions in the industry [2][5]. Group 3: Market Context - Google remains a dominant force in the digital advertising industry, and its legal and operational decisions significantly impact competitors like Magnite [4]. - Despite the overall growth in the digital advertising market, Magnite's revenue only increased by 6% in the second quarter, highlighting challenges in achieving robust growth [8].

Core Insights - Magnite, the largest independent sell-side advertising company, will announce its Q3 financial results on November 5, 2025, after market close [1] - A conference call will be held on the same day at 1:30 PM PT / 4:30 PM ET to discuss the financial results and outlook [1] Company Overview - Magnite operates as the world's largest independent sell-side advertising company, providing technology for publishers to monetize content across various formats including CTV, online video, display, and audio [3] - The company facilitates billions of advertising transactions each month, trusted by leading agencies and brands for access to high-quality ad inventory [3] - Magnite has a global presence with offices in North America, EMEA, LATAM, and APAC, including locations in New York City, Los Angeles, Denver, London, Singapore, and Sydney [3]