Magnite, Inc. · NASDAQ:MGNI
Magnite — Rubicon Project — Q4 2018 Earnings Presentation
9 slides from Magnite's earnings presentation, Feb 27, 2019
Slide 1: Financial Highlights Q4 2018
Financial Highlights Q4 2018 February 27, 2019 1 | COPYRIGHT RUBICON PROJECT 2019
Slide 2: Safe Harbor: Forward-Looking Statements
SAFE HARBOR FORWARD-LOOKING STATEMENTS This presentation and management's prepared remarks during the conference call, and management's answers to questions during the conference call may include, forward-looking statements, including statements based upon or relating to our expectations, assumption
Slide 3: Key Highlights
Key Highlights § Revenue grew 32% year over year to $41.4 million in Q4 2018 § Cash flow positive (excluding working capital swings) in Q4 2018 - a year ahead of target § Adjusted EBITDA margin of 24% in Q4 2018 – our seasonally strongest quarter § Ad spend grew 22% year over year in Q4 2018 to $301
Slide 4: Q4 2018 Summary
Q4 2018 SUMMARY Financial Measures ($MM except per share data) Three Months Ended Change 12/31/2018 12/31/2017 Favorable / (Unfavorable) Revenue Mobile revenue $22.8 $16.0 43% Desktop revenue $18.6 $15.4 21% Revenue $41.4 $31.4 32% Advertising spend(1) $301.2 $246.3 22% Mobile advertising spend $169
Slide 5: Cash Flow and Balance Sheet Highlights
CASH FLOW AND BALANCE SHEET HIGHLIGHTS Adjusted Cash Flow Highlights Balance Sheet Highlights ($MM) ($MM) December 31, December 31, Q4 2018 Q4 2017 2018 2017 Adjusted EBITDA $9.9 ($6.2) Cash & equivalents $80.5 $76.6 Less capital expenditures (7.8) (19.7) Marketable securities (1) 7.5 55.0 Cash flow
Slide 6: Amortization Schedule
AMORTIZATION SCHEDULE Remaining Amortization Schedule for Acquired Intangible by Period ($MM) Amount 2019 3.0 2020 2.8 2021 2.8 2022 1.6 Total Remaining Amortization of Acquired Intangibles $10.2 6 | COPYRIGHT RUBICON PROJECT 2019
Slide 7: Reconciliations of Net Loss to Adjusted EBITDA & Revenue to Advertising Spend
RECONCILIATIONS OF NET LOSS TO ADJUSTED EBITDA & REVENUE TO ADVERTISING SPEND Reconciliation of Net Loss to Adjusted EBITDA ($MM) Q4 2018 Q4 2017 Net loss ($2.2) ($23.8) Add back (deduct): Depreciation and amortization, excluding amortization of acquired intangible assets 8.2 7.8 Amortization of acq
Slide 8: Reconciliations of Net Loss to Non-GAAP Income (Loss)
RECONCILIATIONS OF NET LOSS TO NON-GAAP INCOME (LOSS) Reconciliation of Net Loss to Non-GAAP Income (Loss) ($MM, except share figures) Q4 2018 Q4 2017 Net loss ($2.2) ($23.8) Add back (deduct): Acquisition and related items, including amortization of acquired intangibles 0.8 1.3 Stock-based compensa
Slide 9: Additional Reconciliations of Non-GAAP Financial Measures to GAAP Measures
ADDITIONAL RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES TO GAAP MEASURES Revenue & Advertising Spend Split by Channel Q4 2018 Q4 2017 Financial Measure: ($MM) Mobile Desktop Total Mobile Desktop Total GAAP Revenue $22.8 $18.6 $41.4 $16.0 $15.4 $31.4 Plus amounts paid to sellers 146.9 112.9 259.8 1