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Magnite’s Audience Activation Solution Expands Into India and Southeast Asia
Globenewswire· 2024-12-17 06:00
Magnite Audiences empowers publishers to unlock the full value of their audiences while enabling brands to connect with them at scaleSINGAPORE and MUMBAI, India, Dec. 17, 2024 (GLOBE NEWSWIRE) -- Magnite (NASDAQ:MGNI), the largest independent sell-side advertising company, announced the expansion of Magnite Audiences and its debut in India and Southeast Asia. The solution empowers publishers to unlock the full value of their audiences, while helping buyers connect with high value audiences at scale. Magnite ...
Magnite Promotes Sean Buckley to President, Revenue and Katie Evans to President, Operations
GlobeNewswire News Room· 2024-12-11 21:05
NEW YORK, Dec. 11, 2024 (GLOBE NEWSWIRE) -- Magnite (NASDAQ: MGNI), the world’s largest independent sell-side advertising platform, today announced the promotion of two key leaders, to further sharpen the company’s strategic focus, drive innovation, and accelerate its momentum in the market. Sean Buckley has been promoted to President, Revenue and Katie Evans has been promoted to President, Operations. Mr. Buckley and Ms. Evans will continue to report to CEO, Michael Barrett. “Sean and Katie have had an eno ...
MGNI or INFA: Which Is the Better Value Stock Right Now?
ZACKS· 2024-11-20 17:45
Stock Comparison: Magnite (MGNI) vs Informatica Inc. (INFA) - Investors interested in Internet-Software stocks are likely comparing Magnite (MGNI) and Informatica Inc (INFA) for better value opportunities [1] Zacks Rank Analysis - Magnite holds a Zacks Rank of 2 (Buy) indicating strong earnings estimate revision activity and an improving analyst outlook [3] - Informatica Inc has a Zacks Rank of 3 (Hold) suggesting less impressive earnings estimate revision trends compared to Magnite [3] Valuation Metrics - Magnite's forward P/E ratio is 22.90 while Informatica Inc's is slightly higher at 23.35 [5] - Magnite's PEG ratio of 0.62 is significantly lower than Informatica Inc's 2.17 indicating better earnings growth potential relative to its price [5] - Magnite's P/B ratio of 3.15 is slightly lower than Informatica Inc's 3.26 suggesting a relatively better market value to book value comparison [6] Style Score Value Grade - Magnite earns a Value grade of B based on its strong valuation metrics including P/E, PEG, and P/B ratios [6] - Informatica Inc receives a Value grade of D reflecting less attractive valuation metrics compared to Magnite [6] Conclusion - Magnite demonstrates stronger estimate revision activity and more attractive valuation metrics making it the superior option for value investors currently [7]
Magnite (MGNI) Q3 Earnings and Revenues Beat Estimates
ZACKS· 2024-11-08 01:01
Magnite (MGNI) came out with quarterly earnings of $0.17 per share, beating the Zacks Consensus Estimate of $0.16 per share. This compares to earnings of $0.12 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 6.25%. A quarter ago, it was expected that this digital ad exchange operator would post earnings of $0.14 per share when it actually produced earnings of $0.14, delivering no surprise.Over the last four quarters, the compa ...
Magnite(MGNI) - 2024 Q3 - Earnings Call Transcript
2024-11-08 00:45
Magnite, Inc. (NASDAQ:MGNI) Q3 2024 Earnings Conference Call November 7, 2024 4:30 PM ET Company Participants Nick Kormeluk - VP, IR & Head, Global Real Estate Michael Barrett - CEO David Day - CFO Conference Call Participants Laura Martin - Needham and Company Shyam Patil - Susquehanna Jason Kreyer - Craig-Hallum Capital Tim Nollen - Macquarie Omar Dessouky - Bank of America Dan Kurnos - The Benchmark Company Brian Kraska - Wolfe Research Zach Cummins - B. Riley Simran Biswal - RBC Capital Markets Robert C ...
Magnite(MGNI) - 2024 Q3 - Quarterly Report
2024-11-07 21:19
Financial Performance - Revenue for the three months ended September 30, 2024, was $162.003 million, a 7.9% increase from $150.085 million in the same period last year[7]. - Net income for the three months ended September 30, 2024, was $5.214 million, compared to a net loss of $17.477 million for the same period in 2023[9]. - Total expenses for the three months ended September 30, 2024, were $146.880 million, down from $167.928 million in the prior year, representing a 12.5% decrease[7]. - The company reported a comprehensive income of $7.305 million for the three months ended September 30, 2024, compared to a comprehensive loss of $18.439 million in the same period last year[9]. - Net loss for the nine months ended September 30, 2024, was $13,621,000, a significant improvement compared to a net loss of $190,098,000 for the same period in 2023[15]. - Adjusted EBITDA for the three months ended September 30, 2024, was $50.6 million, a 26% increase from $40.3 million in the prior year[124]. - Adjusted EBITDA for the nine months ended September 30, 2024, was $120.3 million, an increase of $19.4 million compared to the prior year[134]. Revenue Breakdown - Revenue recognized on a net basis for the three months ended September 30, 2024, was $141.969 million, representing 88% of total revenue, compared to $123.703 million (82%) in the prior year[30]. - The company’s revenue from Connected TV (CTV) for the three months ended September 30, 2024, was $76.217 million, accounting for 47% of total revenue, compared to $67.765 million (45%) in the same period of 2023[31]. - International revenue for the three months ended September 30, 2024, was $41.763 million, representing 26% of total revenue, consistent with the prior year[32]. - Revenue from CTV and mobile increased by $8.5 million, or 12%, and $3.5 million, or 6%, respectively, for the three months ended September 30, 2024[110]. - The United States contributed $120.2 million, accounting for 74% of total revenue, while international revenue was $41.8 million, making up 26%[32]. Expenses and Costs - Total expenses decreased by 13% to $146.88 million for the three months ended September 30, 2024, compared to $167.93 million for the same period in 2023[105]. - Cost of revenue decreased by 26% to $62.54 million for the three months ended September 30, 2024, compared to $84.88 million for the same period in 2023[105]. - General and administrative expenses increased by 15% to $24.49 million for the three months ended September 30, 2024, compared to $21.29 million for the same period in 2023[105]. - Technology and development expenses decreased by 14% to $20.26 million for the three months ended September 30, 2024, compared to $23.54 million for the same period in 2023[105]. - Operating lease expense for the nine months ended September 30, 2024, was $17.2 million, compared to $18.8 million for the same period in 2023, indicating a decrease of approximately 8.5%[58]. Cash and Liquidity - Cash provided by operating activities for the nine months ended September 30, 2024, was $120,504,000, slightly down from $125,282,000 in the prior year[15]. - Total cash, cash equivalents, and restricted cash at the end of September 2024 was $387,244,000, an increase from $310,555,000 at the end of September 2023[17]. - The company believes existing cash and cash equivalents will be sufficient to meet liquidity requirements for at least the next twelve months[137]. - The company’s cash and cash equivalents balance is influenced by operating results, capital expenditures, and changes in working capital[138]. Stockholder Equity and Debt - The total stockholders' equity as of September 30, 2024, was $725.876 million, up from $701.683 million at the end of 2023[5]. - The accumulated deficit as of September 30, 2024, was $697.579 million, an increase from $683.958 million at the end of the previous year[5]. - As of September 30, 2024, the total debt of the Company is $553.8 million, compared to $536.6 million as of December 31, 2023, reflecting an increase of approximately 3.9%[67]. - The net carrying value of Convertible Senior Notes is $203.3 million as of September 30, 2024, consistent with the previous period[67]. - The company repurchased $9,006,000 worth of treasury stock during the nine months ended September 30, 2024[15]. Future Outlook and Strategy - The company plans to continue focusing on market expansion and new product development to drive future growth[7]. - The company expects revenue to continue increasing through the remainder of 2024, with CTV being the biggest growth driver, including political advertising[110]. - The company is investing in identity solutions to adapt to the decreased reliance on third-party cookies, enhancing audience targeting capabilities[91]. - The company aims to leverage its scale and expertise in CTV to advance a first-party identity model, creating value opportunities for clients[93]. Accounting and Compliance - The company expects the impact of adopting new accounting standards related to segment reporting to be limited to disclosing significant expenses starting with the annual period ending December 31, 2024[24]. - The company expects limited impact from the adoption of new accounting standards effective in 2024 and 2025, primarily related to segment disclosures and income tax information[24].
Magnite(MGNI) - 2024 Q3 - Quarterly Results
2024-11-07 21:14
Exhibit 99.1 Total Revenue Grows 8% & Contribution ex-TAC Grows 12% Year-Over-Year (1) Contribution ex-TAC from CTV Grows 23% Year-Over-Year (1) NEW YORK, New York – November 7, 2024 – Magnite (NASDAQ: MGNI), the world's largest independent sell-side advertising company, today reported its results of operations for the quarter ended September 30, 2024. Q3 2024 Highlights: • Supported Netflix's initial programmatic CTV ad launch • Revenue of $162.0 million, up 8% year-over-year • Contribution ex-TAC of $149. ...
Disney and Magnite Announce Two-Year Deal Renewal
GlobeNewswire News Room· 2024-10-23 12:30
NEW YORK, Oct. 23, 2024 (GLOBE NEWSWIRE) -- Magnite (NASDAQ: MGNI), the largest independent sell-side advertising company, and Disney have announced a two-year deal extension. As the relationship grows into its sixth year, Magnite continues to be Disney’s preferred supply-side technology partner. Disney leverages Magnite’s technology to monetize its ad-supported inventory across the company’s entire portfolio. Magnite facilitates transactions for all 30+ DSPs that Disney works with. "Disney is committed to ...
Magnite: Draws In The Big Players, 9x FCF
Seeking Alpha· 2024-10-07 17:15
Michael Wiggins De Oliveira is an inflection investor. This means buying into cheap companies at the moment when their narrative is changing and the business is on a path toward becoming significantly more profitable over the next year. With a focus on tech and "the Great Energy Transition (including uranium)", Michael runs a concentrated portfolio with approximately 15 to 20 stocks and an average holding period of 18 months. Through his 10+ years analyzing countless companies, Michael has accumulated outst ...
Magnite to Announce Third Quarter 2024 Financial Results on November 7, 2024
GlobeNewswire News Room· 2024-10-07 12:00
NEW YORK, Oct. 07, 2024 (GLOBE NEWSWIRE) -- Magnite (Nasdaq: MGNI), the world's largest independent sell-side advertising company, will announce its financial results for the third quarter ended September 30, 2024 after the market close on Thursday, November 7, 2024. The Company will host a conference call at 1:30 PM (PT) / 4:30 PM (ET) the same day to discuss its financial results and outlook. Live conference call Toll free number: (844) 875-6911 (for domestic callers) Direct dial number: (412) 902-6511 (f ...