Magnite, Inc. · NASDAQ:MGNI

Magnite — Q1 2022 Earnings Presentation

13 slides from Magnite's earnings presentation, May 4, 2022

  1. Slide 1: Financial Highlights Q1 2022

    Financial Highlights Q1 2022 May 4, 2022 CONFIDENTIAL © MAGNITE | © MAGNITE

  2. Slide 2: Safe Harbor

    Safe Harbor FORWARD-LOOKING STATEMENTS This presentation, press release 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

  3. Slide 3: Non-GAAP Financial Measures

    Non-GAAP Financial Measures In addition to our GAAP results, we review certain non-GAAP financial measures to help us evaluate our business, measure our performance, identify trends affecting our business, establish budgets, measure the effectiveness of investments in our technology and development

  4. Slide 4: Highlights

    Highlights ➔ Total Revenue ex-TAC(1) grew 79% year over year in Q1 2022 to $107.1 million ➔ Revenue ex-TAC(1) attributable to CTV grew 253% year over year in Q1 2022 to $42.3 million and 27% on a pro forma(2) basis ➔ Revenue ex-TAC attributable to CTV represented 40% of total revenue ex-TAC in Q1 20

  5. Slide 5: Guidance and Long Term Financial Targets

    Guidance and Long Term Financial Targets ➔ Q2 Revenue ex-TAC(1) to be between $123-127 million ➔ Q2 Revenue ex-TAC(1) attributable to CTV to be between $51-53 million ➔ Q2 Adjusted EBITDA operating expenses(2) to be between $83-$85 million ➔ 2022 Revenue ex-TAC(1) continued expectation to be well ov

  6. Slide 6: Magnite Q1 2022 Summary

    Magnite Q1 2022 Summary Financial Measures ($MM except per share data) Three Months Ended 3/31/2022 3/31/2021 Change Fav / (Unfav) Revenue $118.1 $60.7 94% (1) Revenue ex-TAC $107.1 $59.9 79% Gross Profit $58.7 $40.0 47% Net income (loss) ($44.6) ($12.9) (246%) Adjusted EBITDA(1) $28.8 $9.4 208% Adju

  7. Slide 7: Cash Flow and Balance Sheet Highlights

    Cash Flow and Balance Sheet Highlights Operating Cash Flow Highlights ($MM) Balance Sheet Highlights ($MM) Q1 2022 Q1 2021 Mar 31, Dec 31, 2022 2021 Adjusted EBITDA(1) $28.8 $9.4 Cash & equivalents $204.6 $230.4 Less capital expenditures (8.7) (9.3) Debt $ 724.3 $ 723.6 Operating cash flow(2) $20.1 $

  8. Slide 8: Net Leverage

    Net Leverage CONFIDENTIAL © MAGNITE Note: Net Leverage is calculated as current and non-current debt outstanding less cash & cash equivalents over trailing 4 quarter AEBITDA. | © MAGNITE 8

  9. Slide 9: Amortization Schedule

    Amortization Schedule Remaining Amortization Schedule for Acquired Intangibles by Period ($MM) Amount 2022 $111.4 2023 104.9 2024 87.3 2025 70.6 2026 24.7 Thereafter 0.4 TOTAL Remaining Amortization of Acquired Intangibles $399.4 CONFIDENTIAL © MAGNITE | © MAGNITE Note: Amounts may not foot due to r

  10. Slide 10: Q1 Reconciliations of Net Loss to Adjusted EBITDA

    Q1 Reconciliations of Net Loss to Adjusted EBITDA Reconciliation of Net Loss to Adjusted EBITDA ($MM) Q1 2022 Q1 2021 Net loss ($44.6) ($12.9) Add back (deduct): Depreciation and amortization expense, excluding 7.4 4.9 amortization of acquired intangible assets Amortization of acquired intangibles 3

  11. Slide 11: Q1 Reconciliations of Net Loss to Non-GAAP Income

    Q1 Reconciliations of Net Loss to Non-GAAP Income Reconciliation of Net Loss to Non-GAAP Income ($MM, except share figures) Q1 2022 Q1 2021 Net loss ($44.6) ($12.9) Add back (deduct): Merger, acquisition and restructuring costs, including amortization of acquired intangibles and excluding stock-based

  12. Slide 12: Revenue by Channel and Geography

    Revenue by Channel and Geography Revenue Ex-TAC Split by Channel ($MM) Q1 2022 Q1 2021 CTV Mobile Desktop Total CTV Mobile Desktop Total Revenue Ex-TAC $42.3 $38.3 $26.5 $107.1 $12.0 $27.9 $20.0 $59.9 Percent of Revenue 40% 35% 25% 20% 47% 33% Revenue Split by Geography ($MM) Q1 2022 Q1 2021 U.S. In

  13. Slide 13: Reconciliation of Revenue to Revenue ex-TAC

    Reconciliation of Revenue to Revenue ex-TAC Three Months Three Months Reconciliation of Revenue to Revenue Ex-TAC Ended Mar 31, Ended Mar 31, ($MM, except share figures) 2022 2021 Revenue $118.1 $60.7 Less: Cost of Revenue 59.4 20.8 Gross Profit 58.7 40.0 Add back: Cost of revenue, excluding TAC 48.4

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