Magnite, Inc. · NASDAQ:MGNI
Magnite — Q1 2018 Earnings Presentation
9 slides from Magnite's earnings presentation, May 3, 2018
Slide 1: Financial Highlights Q1 2018
Financial Highlights Q1 2018 May 3, 2018 1 | COPYRIGHT RUBICON PROJECT 2018
Slide 2: Safe Harbor: Forward-Looking Statements
SAFE HARBOR FORWARD-LOOKING STATEMENTS This presentation and management's prepared remarks during the conference call referred to above include, and management's answers to questions during the conference call may include, forward-looking statements, including statements based upon or relating to ou
Slide 3: Key Highlights
Key Highlights § Revenue was $24.9 million for Q1 2018, exceeding the estimate of $23 million or above § Ad spend increased 10% to $211 million in Q1 2018 versus Q1 2017, exceeding the estimate of $205 million or above § Video and audio significant growth drivers in Q1 2018 § Ad spend and revenue ex
Slide 4: Q1 2018 Summary
Q1 2018 SUMMARY Financial Measures ($MM except per share data) Three Months Ended Change 3/31/2018 3/31/2017 Favorable / (Unfavorable) Revenue Mobile revenue $10.6 $17.7 (40%) Desktop revenue $14.3 $28.3 (49%) Revenue $24.9 $46.0 (46%) Advertising spend(1) $211.0 $191.5 10% Mobile advertising spend
Slide 5: Cash Flow and Balance Sheet Highlights
CASH FLOW AND BALANCE SHEET HIGHLIGHTS Cash Flow Highlights Balance Sheet Highlights ($MM) ($MM) March 31, December 31, Q1 2018 Q1 2017 2018 2017 Financial measure: Financial measure: Net cash provided (used) by ($9.8) $2.9 operating activities Cash & equivalents $67.5 $76.6 Less capital expenditure
Slide 6: Depreciation & Amortization / Amortization Schedule
DEPRECIATION & AMORTIZATION / AMORTIZATION SCHEDULE Income Statement includes Depreciation and Amortization as follows: ($MM) Q1 2018 Q1 2017 Cost of revenue $ 8.2 $ 8.4 Sales and marketing 0.2 0.5 Technology and development 0.2 0.6 General and administrative 0.1 0.6 Total Depreciation and Amortizat
Slide 7: Reconciliations of Net Loss to Adjusted EBITDA & Revenue to Advertising Spend
RECONCILIATIONS OF NET LOSS TO ADJUSTED EBITDA & REVENUE TO ADVERTISING SPEND Reconciliation of Net Loss to Adjusted EBITDA ($MM) Q1 2018 Q1 2017 Financial Measure: ($MM) Net loss ($27.8) ($15.8) Add back (deduct): Depreciation and amortization, excluding amortization of acquired intangible assets 7
Slide 8: Reconciliations of GAAP Revenue to Non-GAAP Net Revenue & Net Loss
RECONCILIATIONS OF GAAP REVENUE TO NON-GAAP NET REVENUE & NET LOSS TO NON-GAAP NET LOSS Reconciliation of GAAP Revenue to Non-GAAP Net Revenue ($MM) Q1 2018 Q1 2017 Financial Measure: GAAP revenue $24.9 $46.0 Less amounts paid to sellers reflected in cost of revenue(1) - $0.6 Non-GAAP net revenue $2
Slide 9: Additional Reconciliations of Non-GAAP Financial Measures to GAAP
ADDITIONAL RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES TO GAAP Revenue & Advertising Spend Split by Channel Q1 2018 Q1 2017 Financial Measure: ($MM) Mobile Desktop Total Mobile Desktop Total GAAP Revenue $10.6 $14.3 $24.9 $17.7 $28.3 $46.0 Plus amounts paid to sellers(1) 80.4 105.7 186.1 50.2 95.