Magnite, Inc. · NASDAQ:MGNI
Magnite — Rubicon Project — Q3 2018 Earnings Presentation
10 slides from Magnite's earnings presentation, Nov 7, 2018
Slide 1: Financial Highlights Q3 2018
Financial Highlights Q3 2018 November 7, 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, 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 was $29.7 million for Q3 2018, up 4% sequentially § Year over year ad spend growth of 24% in Q3 2018 and marks the third consecutive quarter of double digit year over year growth § Video and audio continue to be significant growth drivers § Take rate was up 20 bps to 12.3% i
Slide 4: Ad Spend Year over Year Growth Rate Trend
Ad Spend Year over Year Growth Rate Trend 25% 20% 15% 10% 5% 0% 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 -5% -10% -15% -20% -25% AD SPEND 4 | COPYRIGHT RUBICON PROJECT 2018
Slide 5: Q3 2018 Summary
Q3 2018 SUMMARY Financial Measures ($MM except per share data) Three Months Ended Change 9/30/2018 9/30/2017 Favorable / (Unfavorable) Revenue Mobile revenue $17.2 $18.3 (6%) Desktop revenue $12.5 $16.9 (26%) Revenue $29.7 $35.2 (16%) Advertising spend(1) $242.2 $195.0 24% Mobile advertising spend $
Slide 6: Cash Flow and Balance Sheet Highlights
CASH FLOW AND BALANCE SHEET HIGHLIGHTS Cash Flow Highlights Balance Sheet Highlights ($MM) ($MM) September 30, December 31, Q3 2018 Q3 2017 2018 2017 Financial measure: Financial measure: Net cash provided (used) by ($1.5) ($3.6) operating activities Cash & equivalents $82.3 $76.6 Less capital expen
Slide 7: Depreciation & Amortization / Amortization Schedule
DEPRECIATION & AMORTIZATION / AMORTIZATION SCHEDULE Income Statement includes Depreciation and Amortization as follows: ($MM) Q3 2018 Q3 2017 Cost of revenue $ 8.3 $ 7.2 Sales and marketing 0.1 0.1 Technology and development 0.2 0.6 General and administrative 0.1 0.2 Total Depreciation and Amortizat
Slide 8: 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 ($MM) Q3 2018 Q3 2017 Financial Measure: ($MM) Net loss ($13.8) ($103.6) Add back (deduct): Depreciation and amortization, excluding amortization of acquired intangible assets
Slide 9: Reconciliations of Net Loss to Non-GAAP Net Loss
RECONCILIATIONS OF NET LOSS TO NON-GAAP NET LOSS Reconciliation of Net Loss to Non-GAAP Net Loss ($MM, except share figures) Q3 2018 Q3 2017 Financial Measure: Net loss ($13.8) ($103.6) Add back (deduct): Acquisition and related items, including amortization of acquired intangibles 0.8 1.4 Stock-bas
Slide 10: Additional Reconciliations of Non-GAAP Financial Measures to GAAP
ADDITIONAL RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES TO GAAP Revenue & Advertising Spend Split by Channel Q3 2018 Q3 2017 Financial Measure: ($MM) Mobile Desktop Total Mobile Desktop Total GAAP Revenue $17.2 $12.5 $29.7 $18.3 $16.9 $35.2 Plus amounts paid to sellers 115.7 96.8 212.5 73.4 86.4 1