Magnite, Inc. · NASDAQ:MGNI
Magnite — The Rubicon Project — Q3 2015 Earnings Presentation
11 slides from Magnite's earnings presentation, Oct 27, 2015
Slide 1: Q3 2015 Financial Highlights
Leading the Automation of Advertising Q3 2015 Financial Highlights October 27, 2015
Slide 2: Safe harbor
Safe harbor Forward-Looking Statements These materials include forward-looking statements concerning or implying growth trends or expectations, including without limitation growth in our mobile, Orders, and buyer cloud businesses. Forward-looking statements are not guarantees of future performance;
Slide 3: Significant Q3 2015 takeaways
Significant Q3 2015 takeaways Continued strong growth in non-GAAP net revenue (+80%) and 1 non-GAAP EPS (+360%) year over year Mobile continues to grow rapidly, increasing to 26% of RUBI 2 managed revenue in Q3 2015 from 22% in Q2 Adjusted EBITDA outperformance with 163% growth Y-o-Y 3 and an 18% in
Slide 4: Q3 2015 revenue highlights
Q3 2015 revenue highlights Q3 Managed Revenue(1, 2) Q3 GAAP Revenue Q3 Non-GAAP Net Revenue(3) ($MM) ($MM) ($MM) $64.3 $244.4 $57.9 $168.2 $32.2 $32.2 Non-GAAP Net Revenue GAAP Revenue includes net and 23.7% assumes all revenue transactions gross revenue reporting 19.1% are reported net Q3 2014 Q3 2
Slide 5: Adjusted EBITDA highlights
Adjusted EBITDA highlights Q3 and 9 Months Adjusted EBITDA(1) Trend in FY 2015 Guidance for Adj. EBITDA ($MM) ($MM) $43.5 $23.4 $37.0 $25.5 $12.6 $20.5 $5.8 $4.8 Third Quarter 9 Months YTD As of 2/24/2015 As of 5/5/2015 As of 7/28/2015 As of 10/27/2015 2014 2015 (1) The appendix provides a reconcili
Slide 6: Consistently solid top and bottom line quarterly results
Consistently solid top and bottom line quarterly results Quarterly Non-GAAP Net Revenue Quarterly Adjusted EBITDA(1) ($MM) ($MM) $57.9 $13.3 $12.6 $48.5 $41.8 RUBI’s quarterly revenues and Adj. EBITDA reflect advertising industry seasonality with Q4 being highest $37.2 $32.2 $28.1 $28.3 $6.5 $6.7 $2
Slide 7: Managed revenue by channel, product and geography
Managed revenue by channel, product and geography Managed Revenue % by Channel Managed Revenue % by Product Managed Revenue % by Geography ($MM) $244 ($MM) $244 ($MM) $244 7% $168 $168 $168 66% 74% 13% 59% 77% Intl % decrease due to addition and growth of 82% Buyer Cloud, which is currently predomin
Slide 8: Balance sheet highlights
Balance sheet highlights 9/30/2015 12/31/2014 Financial measure: ($MM) Cash and liquid assets $108.1 $97.2 Debt and capital lease obligations $Nil $0.1 Accounts receivable, net $158.8 $133.3 Accounts payable and accrued expenses $167.1 $151.0 8
Slide 9: Appendix: Net loss to Adjusted EBITDA reconciliation
Appendix: Net loss to Adjusted EBITDA reconciliation Q3 Q3 9 MOS 9 MOS 2015 2014 2015 2014 Financial Measure: ($ MM) Net loss ($3.0) ($4.6) ($20.0) ($20.1) Add back (deduct): Depreciation and amortization, excluding acquisition of 3.8 3.0 11.4 7.8 acquired intangible assets Amortization of acquired
Slide 10: Appendix: Reconciliation of GAAP revenue to non-GAAP net revenue
Appendix: Reconciliation of GAAP revenue to non-GAAP net revenue Q3 Q2(1) 2015 2015 Financial Measure: ($ MM) GAAP revenue $64.3 $53.0 Amounts paid to sellers: $6.4 $4.5 Non-GAAP net revenue $57.9 $48.5 (1) Rubicon Project adopted non-GAAAP net revenue as a measure in Q2 2015. Prior to Q2 2015, all
Slide 11: Appendix: depreciation and amortization
Appendix: depreciation and amortization Income statement includes depreciation and Q3 2015 Q3 2014 9 MOS 2015 9 MOS 2014 amortization as follows: ($ MM) Cost of revenue $5.3 $2.6 $14.0 $6.8 Sales and marketing $2.3 $0.1 $6.0 $0.3 Technology and development $0.5 $0.2 $1.3 $0.6 General and administrat