Magnite, Inc. · NASDAQ:MGNI
Magnite — Q2 2021 Earnings Presentation
12 slides from Magnite's earnings presentation, Aug 5, 2021
Slide 1: Financial Highlights Q2 2021
Financial Highlights Q2 2021 August 5, 2021 CONFIDENTIAL © MAGNITE | © MAGNITE 1
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: 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, measure our performance, identify trends affecting our business, establish budgets, measure the effectiveness of investments in our technology and development
Slide 4: Highlights
Highlights ➔ Total Revenue ex-TAC(1) grew 139% year over year in Q2 2021 to $100.4 million. 79% growth on a pro forma basis(2) ➔ Revenue ex-TAC attributable to CTV grew 333% year over year to $34.3 million (1) ➔ Pro forma CTV Revenue ex-TAC grew 108% year over year - legacy Magnite and SpotX (2) (1)
Slide 5: Guidance & Long Term Financial Targets
Guidance & Long Term Financial Targets (1) ➔ Q3 Revenue ex-TAC(2) to be between $112-116 million ➔ Q3 Revenue ex-TAC(2) attributable to CTV to be between $41-45 million ➔ Q3 Revenue ex-TAC(2) attributable to CTV to grow approximately 50% year over year on pro forma basis ➔ Q3 Adjusted EBITDA(2) oper
Slide 6: Magnite Q2 2021 Summary
Magnite Q2 2021 Summary Financial Measures ($MM except per share data) Three Months Ended 6/30/2021 6/30/2020 Change Fav / (Unfav) Revenue $114.5 $42.3 170% Revenue ex-TAC $100.4 $42.1 139% Net income (loss) $36.8 ($39.1) 194% Adjusted EBITDA(1) $31.8 ($3.5) 1012% (2) Adjusted EBITDA margin 32% (8%)
Slide 7: Cash Flow and Balance Sheet Highlights
Cash Flow and Balance Sheet Highlights Adjusted Cash Flow Highlights ($MM) Balance Sheet Highlights ($MM) Q2 2021 Q2 2020 June 30, Mar 31, 2021 2021 Adjusted EBITDA(1) $31.8 ($3.5) Cash & equivalents $193.0 $468.6 Less capital expenditures (8.0) (3.3) Total cash + liquid assets $193.0 $468.6 Operati
Slide 8: Amortization Schedule
Amortization Schedule Remaining Amortization Schedule for Acquired Intangibles by Period ($MM) Amount 2021 $81.7 2022 140.9 2023 97.1 2024 81.0 2025 63.8 Thereafter 19.4 TOTAL Remaining Amortization of Acquired Intangibles $483.9 Note: Amounts may not foot due to rounding. CONFIDENTIAL © MAGNITE | ©
Slide 9: Q2 MGNI Reconciliations of Net Income (Loss) to Adjusted EBITDA
Q2 MGNI Reconciliations of Net Income (Loss) to Adjusted EBITDA Reconciliation of Net Income (Loss) to Adjusted EBITDA ($MM) Q2 2021 Q2 2020 Net income (loss) $36.8 ($39.1) Add back (deduct): Depreciation and amortization, excluding amortization of 6.4 6.5 acquired intangible assets Amortization of
Slide 10: Q2 MGNI Reconciliations of Net Income (Loss) to Non-GAAP Income (Loss)
Q2 MGNI Reconciliations of Net Income (Loss) to Non-GAAP Income (Loss) Reconciliation of Net Income (Loss) to Non-GAAP Income (Loss) ($MM, except share figures) Q2 2021 Q2 2020 Net Income (Loss) $36.8 ($39.1) Add back (deduct): Merger, acquisition and restructuring costs, including amortization of ac
Slide 11: Revenue Split by Channel & Revenue by Geography
Revenue Split by Channel & Revenue by Geography Revenue Ex-TAC Split by Channel Q2 2021 Q2 2020 Financial Measure: ($MM) CTV Mobile Desktop Total CTV Mobile Desktop Total Revenue Ex-TAC $34.3 $38.8 $27.4 $100.4 $7.9 $19.2 $15.0 $42.1 Percent of Revenue 34% 39% 27% 19% 45% 36% Revenue Split by Geogra
Slide 12: Reconciliation of Revenue to Revenue Ex-TAC
RECONCILIATION OF REVENUE TO REVENUE EX-TAC (PRELIMINARY AND UNAUDITED) Three Months Three Months Reconciliation of Revenue to Revenue Ex-TAC Ended June 30, Ended June 30, ($MM, except share figures) 2021 2020 Revenue $114.5 $42.3 Less: Cost of Revenue 50.5 21.5 Gross Profit 64.0 20.8 Add back: Cost o