Magnite, Inc. is a Delaware-based company that provides technology solutions to automate the purchase and sale of digital advertising inventory globally. It operates as the world's largest independent omni-channel sell-side advertising platform and the largest independent programmatic connected television marketplace. Magnite sells technology platforms that facilitate transactions across all channels, formats, and auction types, offering buyers and sellers a single partner for global advertising operations.
- Connected TV (CTV) - Facilitates programmatic advertising transactions in the connected television marketplace, providing tools for forecasting, customized ad experiences, and yield optimization.
- Mobile - Supports mobile advertising transactions, enabling advertisers to reach audiences on smartphones and tablets.
- Desktop - Manages and monetizes digital advertising inventory on desktop platforms, offering tools for workflow and yield management.
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- Given the recent Google antitrust ruling and your statement that every 100 basis point market share gain translates to roughly $50 million in contribution ex-TAC, how do you plan to accelerate market share shifts, especially if remedies are implemented only on a behavioral basis?
- With the integration of your next-generation SpringServe platform combining ad server and SSP functionalities, can you detail how this technology will continue to differentiate your offering in a commoditized market?
- In light of the price declines in CPMs due to increased CTV supply and macro pressures, what specific steps are you taking to protect your take rate and maintain margin expansion?
- Your Q1 guidance mentioned caution due to tariff-related economic uncertainty; can you provide more detail on how these external macro factors might impact advertiser budgets across key verticals like auto, retail, and travel?
- As you enhance your Gen AI-powered curation capabilities, what measures are in place to ensure that this technology not only improves efficiency in audience discovery but also drives incremental revenue and a higher flow-through to adjusted EBITDA?
Research analysts who have asked questions during Magnite Inc earnings calls.
Laura Martin
Needham & Company, LLC
5 questions for MGNI
Shyam Patil
Susquehanna Financial Group
5 questions for MGNI
Daniel Kurnos
The Benchmark Company, LLC
4 questions for MGNI
Jason Kreyer
Craig-Hallum Capital Group LLC
4 questions for MGNI
Robert Coolbrith
Evercore ISI
4 questions for MGNI
Zach Cummins
B. Riley Securities
4 questions for MGNI
Simran Biswal
RBC Capital Markets
3 questions for MGNI
Alec Brondolo
Wells Fargo
2 questions for MGNI
Brian Kraska
Wolfe Research
2 questions for MGNI
Matthew Swanson
RBC Capital Markets
2 questions for MGNI
Maxwell Michaelis
Lake Street Capital Markets
2 questions for MGNI
Omar Dessouky
Bank of America
2 questions for MGNI
Tim Nollen
Macquarie Group
2 questions for MGNI
Barton Crockett
Rosenblatt Securities
1 question for MGNI
Bel Nobler
Lake Street Capital Markets
1 question for MGNI
Eric Martinuzzi
Lake Street Capital Markets
1 question for MGNI
Kenneth Wu
Wolfe Research
1 question for MGNI
Shweta Khajuria
Wolfe Research, LLC
1 question for MGNI
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
This company is a formidable competitor due to its large resources and direct user relationships, and it could become even more dominant as third-party cookie use decreases. | |
This company is a formidable competitor due to its large resources and direct user relationships, and it could become even more dominant as third-party cookie use decreases. | |
This company is a formidable competitor due to its large resources and direct user relationships, and it could become even more dominant as third-party cookie use decreases. | |
This company is a formidable competitor due to its large resources and direct user relationships, and it could become even more dominant as third-party cookie use decreases. | |
This company is a formidable competitor due to its large resources and direct user relationships, and it could become even more dominant as third-party cookie use decreases. |
| Customer | Relationship | Segment | Details |
|---|---|---|---|
Buyer #1 | Buyer of digital advertising inventory | All | 46% of AR at 12/31/2024 ($552.0M ) and 48% of AR at 12/31/2023 ($564.6M ) |
Buyer #2 | Buyer of digital advertising inventory | All | 11% of AR at 12/31/2024 ($132.0M ) and 11% of AR at 12/31/2023 ($129.4M ) |
Recent press releases and 8-K filings for MGNI.
- Magnite has demonstrated respectable growth numbers despite a challenging ad environment, achieving 10%+ revenue growth, 15% EBITDA growth, and 20% free cash flow growth in recent years and for the current year's guidance.
- As the second-largest SSP, Magnite is driving accelerated growth through new exclusive deals with premium publishers and has increased its programmatic CTV market share from mid-teens to mid-twenties, with a target of 35% and higher.
- The company is insulated from negative impacts of AI search trends and recent DSP changes that affected competitors, largely due to its focus on premium publishers and mobile app business.
- There is significant upside potential from the ongoing Google antitrust remedies, with the analyst's $39 price target including $20 related to this outcome, indicating it is not yet priced in.
- Magnite has partnered with Paramount Australia to provide programmatic access to Paramount+'s premium streaming TV inventory in Australia, leveraging Magnite's SpringServe video platform.
- This collaboration is expected to boost Magnite's revenue streams by tapping into the expanding Australian digital advertising market.
- Magnite recently reported a 47% year-over-year increase in adjusted EBITDA to $37 million and an improved net loss of $10 million compared to $18 million in Q1 2024.
- Analysts have an average price target of $22.51 for Magnite with an 'Outperform' consensus rating of 1.9 from 15 brokerage firms.
- Completed second term loan repricing for its $363 million senior secured facility due February 2031.
- Reduced interest rate by 75 basis points to Term SOFR + 3.00%, achieving a cumulative rate reduction of 200 basis points since February 2024.
- Expected annual interest savings exceed $2.7 million.