Magnite, Inc. · NASDAQ:MGNI
Magnite — Q1 2020 Earnings Presentation
10 slides from Magnite's earnings presentation, May 6, 2020
Slide 1: Financial Highlights Q1 2020
Financial Highlights Q1 2020 May 6, 2020 Copyright Rubicon Project 2020
Slide 2: Safe Harbor
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: Highlights
Highlights – Rubicon Project – Revenue grew 12% year over year to $36.3 million in Q1 2020 – Adjusted EBITDA was $2.8 million in Q1 2020 – Telaria (closed on April 1, 2020) – Total revenue grew 11% year over year to $15.1 million in Q1 2020 – CTV revenue grew 74% year over year to $9.1 million in Q1
Slide 4: CTV Trends = Big Opportunity
CTV Trends = Big Opportunity Three Out of Four US Households Have CTV Cord cutting An increasing Programmatic is continues to amount of CTV is driving the future of accelerate ad supported CTV Copyright Rubicon Project 2020 4
Slide 5: Q1 2020 Summary
Q1 2020 Summary Financial Measures ($MM except per share data) Three Months Ended Change 3/31/2020 3/31/2019 Favorable / (Unfavorable) Revenue Mobile revenue $21.0 $17.2 22% Desktop revenue $15.3 $15.2 -- Revenue $36.3 $32.4 12% Net income (loss) ($9.7) ($12.5) 22% Adjusted EBITDA(1) $2.8 ($0.1) 290
Slide 6: Cash Flow and Balance Sheet Highlights
Cash Flow and Balance Sheet Highlights Adjusted Cash Flow Highlights Balance Sheet Highlights ($mm) ($mm) March 31, December 31, Q1 2020 Q1 2019 2020 2019 Cash & equivalents $71.3 $88.9 Adjusted EBITDA $2.8 ($0.1) Marketable securities -- -- Less capital (4.8) (2.2) expenditures Total cash + liquid
Slide 7: Amortization Schedule
Amortization Schedule Remaining Amortization Schedule for Acquired Intangibles by Period ($MM) Amount 2020 3.2 2021 4.1 2022 2.1 2023 0.5 2024 0.4 TOTAL Remaining Amortization of Acquired Intangibles $10.3 Copyright Rubicon Project 2020 7
Slide 8: Reconciliations of Net Loss to Adjusted EBITDA
Reconciliations of Net Loss to Adjusted EBITDA Reconciliation of Net Loss to Adjusted EBITDA ($MM) Q1 2020 Q1 2019 Net loss ($9.7) ($12.5) Add back (deduct): Depreciation and amortization, excluding amortization of acquired intangible assets 6.5 7.8 Amortization of acquired intangibles 1.1 0.8 Stock
Slide 9: Reconciliations of Net Loss to Non-GAAP Net Loss
Reconciliations of Net Loss to Non-GAAP Net Loss Reconciliation of Net Loss to Non-GAAP Income (Loss) ($MM, except share figures) Q1 2020 Q1 2019 Net loss ( $9.7) ($12.5) Add back (deduct): Acquisition and related items, including amortization of acquired intangibles 3.0 0.8 Stock-based compensation
Slide 10: Revenue Split by Channel & Geography
Revenue Split by Channel & Geography Revenue Split by Channel Q1 2020 Q1 2019 Financial Measure: ($MM) Mobile Desktop Total Mobile Desktop Total GAAP Revenue $21.0 $15.3 $36.3 $17.2 $15.2 $32.4 Percent of Revenue 58% 42% 100% 53% 47% 100% Revenue Split by Geography Q1 2020 Q1 2019 Financial Measure: