Slide 1: Financial Highlights Q2 2023
Financial Highlights Q2 2023 August 9, 2023 © Magnite | 1
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
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 on a consistent basis, measure our performance, identify trends affecting our business, establish budgets, measure the effectiveness of investments in our techno
Slide 4: Q2 Highlights
Q2 Highlights → Total Contribution ex-TAC(1) grew 9% year-over-year to $134.7 million → Contribution ex-TAC(1) attributable to CTV grew 8% year-over-year to $56.1 million → Contribution ex-TAC(1) attributable to CTV was 42% of total Contribution ex-TAC → Contribution ex-TAC(1) attributable to DV+ gr
Slide 5: Guidance
Guidance → Q3 Contribution ex-TAC to be between $128 and $132 million (1) → Q3 CTV Contribution ex-TAC to be between $50 and $52 million and DV+ to be between $78 and $80 (1) million → Q3 Adjusted EBITDA operating expenses to be between $92 and $94 million(2) → Q4 CTV Contribution ex-TAC growth to i
Slide 6: Q2 2023 Summary
Q2 2023 Summary Financial Measures ($MM except per share data) Three Months Ended 6/30/2023 6/30/2022 Change Fav / (Unfav) Revenue $152.5 $137.8 11% Gross Profit $22.4 $72.8 (69)% (1) Contribution ex-TAC $134.7 $123.3 9% Net loss ($73.9) ($25.0) (196)% (1) Adjusted EBITDA $37.3 $41.3 (10)% Adjusted E
Slide 7: Cash Flow and Balance Sheet Highlights
Cash Flow and Balance Sheet Highlights Operating Cash Flow Highlights ($MM) Balance Sheet Highlights ($MM) Q2 2023 Q2 2022 June 30, 2023 Dec 31, 2022 Adjusted EBITDA(1) $37.3 $41.3 Cash & equivalents $266.4 $326.3 Less capital expenditures (8.9) (11.8) Debt $638.6 $726.4 Operating cash flow(2) $28.4
Slide 8: Net Leverage
Net Leverage Note: Net Leverage is calculated as current and non-current debt outstanding less cash & cash equivalents over trailing 4 quarter Adjusted EBITDA. © Magnite | 8
Slide 9: Amortization Schedule
Amortization Schedule Remaining Amortization Schedule for Acquired Intangibles by Period ($MM) Amount 2023(1) 37.4 2024 30.1 2025 14.4 2026 6.0 2027 0.4 Total Remaining Amortization of Acquired Intangibles $88.4 (1) Amortization expense include an estimated incremental $8 million in Q3 of 2023 due t
Slide 10: Q2 Reconciliation of Net Loss to Adjusted EBITDA
Q2 Reconciliation of Net Loss to Adjusted EBITDA Reconciliation of Net Loss to Adjusted EBITDA ($MM) Q2 2023 Q2 2022 Net loss ($73.9) ($25.0) Add back (deduct): Depreciation and amortization expense, excluding 10.3 7.4 amortization of acquired intangible assets Amortization of acquired intangibles 7
Slide 11: Q2 Reconciliation of Net Loss to Non-GAAP Income
Q2 Reconciliation of Net Loss to Non-GAAP Income Reconciliation of Net Income (Loss) to Non-GAAP Income ($MM, except per share figures) Q2 2023 Q2 2022 Net income (loss) ($73.9) ($25.0) Add back (deduct): Merger, acquisition and restructuring costs, including amortization of acquired intangibles and
Slide 12: Revenue by Channel and Geography
Revenue by Channel and Geography Contribution Ex-TAC Split by Channel ($MM) Q2 2023 Q2 2022 CTV Mobile Desktop Total CTV Mobile Desktop Total Contribution ex-TAC $56.1 $53.4 $25.2 $134.7 $52.1 $44.0 $27.2 $123.3 Percent of Total 42% 39% 19% 42% 36% 22% Revenue Split by Geography ($MM) Q2 2023 Q2 202
Slide 13: Reconciliation of Revenue to Contribution Ex-TAC
Reconciliation of Revenue to Contribution Ex-TAC Reconciliation of Revenue to Contribution Three Months Ended Three Months Ended Ex-TAC ($MM) June 30, 2023 June 30, 2022 Revenue $152.5 $137.8 Less: Cost of Revenue 130.2 65.0 Gross Profit 22.4 72.8 Add back: Cost of revenue, excluding TAC 112.3 50.5 C