Magnite, Inc. · NASDAQ:MGNI
Magnite — Rubicon Project — Q2 2018 Earnings Presentation
10 slides from Magnite's earnings presentation, Aug 1, 2018
Slide 1: Financial Highlights Q2 2018
Financial Highlights Q2 2018 August 1, 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 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: Key Highlights
Key Highlights § Revenue was $28.6 million for Q2 2018, up 15% sequentially from Q1 § Year over year ad spend growth of 10% in Q1, 16% in Q2, and expected to be greater than 20% in Q3 2018 § Video and audio continue to be significant growth drivers in Q2 2018 § Take rate was up 30 bps to 12.1% in Q2
Slide 4: Ad Spend Year over Year Growth Rate Trend
Ad Spend Year over Year Growth Rate Trend 25% 20% 15% 10% 5% 0% 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18est -5% -10% -15% -20% -25% AD SPEND 4 | COPYRIGHT RUBICON PROJECT 2018
Slide 5: Q2 2018 Summary
Q2 2018 SUMMARY Financial Measures ($MM except per share data) Three Months Ended Change 6/30/2018 6/30/2017 Favorable / (Unfavorable) Revenue Mobile revenue $15.0 $19.2 (22%) Desktop revenue $13.6 $23.7 (42%) Revenue $28.6 $42.9 (33%) Advertising spend(1) $237.7 $204.4 16% Mobile advertising spend
Slide 6: Cash Flow and Balance Sheet Highlights
CASH FLOW AND BALANCE SHEET HIGHLIGHTS Cash Flow Highlights Balance Sheet Highlights ($MM) ($MM) June 30, December 31, Q2 2018 Q2 2017 2018 2017 Financial measure: Financial measure: Net cash provided (used) by ($11.3) $9.9 operating activities Cash & equivalents $72.2 $76.6 Less capital expenditure
Slide 7: Depreciation & Amortization / Amortization Schedule
DEPRECIATION & AMORTIZATION / AMORTIZATION SCHEDULE Income Statement includes Depreciation and Amortization as follows: ($MM) Q2 2018 Q2 2017 Cost of revenue $ 8.4 $ 8.1 Sales and marketing 0.2 0.3 Technology and development 0.2 0.3 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 ($MM) Q2 2018 Q2 2017 Financial Measure: ($MM) Net loss ($18.0) ($11.6) Add back (deduct): Depreciation and amortization, excluding amortization of acquired intangible assets 8
Slide 9: Reconciliations of Net Loss to Non-GAAP Net Loss
RECONCILIATIONS OF NET LOSS TO NON-GAAP NET LOSS Reconciliation of Net Loss to Non-GAAP Net Loss ($MM, except share figures) Q2 2018 Q2 2017 Financial Measure: Net loss ($18.0) ($11.6) Add back (deduct): Stock-based compensation expense 4.6 5.3 Amortization of acquired intangibles 0.8 0.8 Foreign cu
Slide 10: Additional Reconciliations of Non-GAAP Financial Measures to GAAP
ADDITIONAL RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES TO GAAP Revenue & Advertising Spend Split by Channel Q2 2018 Q2 2017 Financial Measure: ($MM) Mobile Desktop Total Mobile Desktop Total GAAP Revenue $15.0 $13.6 $28.6 $19.2 $23.7 $42.9 Plus amounts paid to sellers 105.6 103.4 209.0 66.7 94.8