Magnite, Inc. Earnings Recaps
Q1 2026
May 7, 2026
Magnite’s shares rose modestly by 2.9% following Q1 results that delivered mixed outcomes: while CTV growth and margin expansion were encouraging, DV+ continued its decline, tempering investor enthusiasm.
Key takeaways
- Total revenue beat expectations, driven by strong growth in CTV, with CTV contribution ex-TAC increasing 30% and representing 51% of total revenue.
- DV+ revenue declined 5%, a deceleration though better than anticipated, reflecting ongoing shifts in ad budgets toward streaming formats.
- Adjusted EBITDA exceeded consensus by $5 million, aided by earlier-than-expected cost efficiencies contributing to margin expansion.
- Top 10 accounts grew by mid-30% year-over-year, while the remaining base grew in the mid-20s, indicating broad-based demand strength.
- AI integration into the platform is advancing automation and efficiency, but its impact remains in early stages.
Q3 2025
Nov 6, 2025
Magnite delivered a strong Q3 2025 performance, exceeding revenue expectations with significant growth in CTV and a robust adjusted EBITDA margin of 34%.
Key takeaways
- CTV contribution ex-TAC increased by 18%, with a 25% growth excluding political advertising.
- Adjusted EBITDA reached $57 million, surpassing expectations and indicating strong margin performance.
- Key partnerships with major players like Netflix and Roku contributed significantly to revenue growth, particularly in live sports and agency marketplaces.
- The launch of the NEO ad platform and advancements in the ClearLine product underscore Magnite's commitment to enhancing advertiser access and efficiency.
- Strong small and medium-sized business engagement is expected to accelerate through the capabilities provided by streamer.ai, improving access to CTV advertising.