Magnite, Inc. · NASDAQ:MGNI
Magnite — Rubicon Project — Q4 2017 Earnings Presentation
9 slides from Magnite's earnings presentation, Mar 14, 2018
Slide 1: Rubicon Project Q4 2017 Financial Highlights
RUBICON PROJECT Q4 2017 FINANCIAL HIGHLIGHTS MARCH 14, 2018 0 | 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 • $44 million or 23% total annualized operating cost reduction - comparing Q4’17 annualized run rate of adjusted EBITDA operating expenses and capex to new run rate • Double digit year-over-year ad spend growth since early February • Q4 2017 amounts paid to sellers up 5% year over yea
Slide 4: Q4 2017 Summary
Q4 2017 SUMMARY Financial Measures ($MM except per share data) Three Months Ended 12/31/2017 12/31/2016 Change GAAP revenue $31.4 $72.7 (57)% Mobile GAAP revenue $16.0 $26.9 (41)% Desktop GAAP revenue $15.4 $45.8 (66)% Non-GAAP net revenue(1) $31.4 $66.9 (53)% Advertising spend(2) $246.3 $277.1 (11)
Slide 5: Cash Flow and Balance Sheet Highlights
CASH FLOW AND BALANCE SHEET HIGHLIGHTS Cash Flow Highlights Balance Sheet Highlights ($MM) ($MM) December 31, December 31, 2017 2016 2017 2016 Financial measure: Financial measure: Net cash provided by $21.5 $60.1 Cash & equivalents $76.6 $149.4 operating activities Less capital expenditures 40.4 33
Slide 6: Depreciation & Amortization / Amortization Schedule
DEPRECIATION & AMORTIZATION / AMORTIZATION SCHEDULE Income Statement includes Depreciation and Amortization as follows: ($MM) Q4 2017 Q4 2016 Cost of revenue $ 8.3 $ 9.2 Sales and marketing 0.2 2.7 Technology and development 0.4 0.9 General and administrative 0.2 0.6 Total Depreciation and Amortizat
Slide 7: Reconciliations of Net Income (Loss) to Adjusted EBITDA & GAAP Revenue to Advertising Spend
RECONCILIATIONS OF NET INCOME (LOSS) TO ADJUSTED EBITDA & GAAP REVENUE TO ADVERTISING SPEND Reconciliation of Net Income (Loss) to Adjusted EBITDA ($MM) Q4 2017 Q4 2016 Financial Measure: ($MM) Net loss ($23.8) ($21.2) Add back (deduct): Depreciation and amortization, excluding amortization of acqui
Slide 8: Reconciliations of GAAP Revenue to Non-GAAP Net Revenue & Net Income (Loss)
RECONCILIATIONS OF GAAP REVENUE TO NON-GAAP NET REVENUE & NET INCOME (LOSS) TO NON-GAAP NET INCOME (LOSS) Reconciliation of GAAP Revenue to Non-GAAP Net Revenue ($MM) Q4 2017 Q4 2016 Financial Measure: GAAP revenue $31.4 $72.7 Less amounts paid to sellers reflected in cost of revenue(1) - $5.8 Non-G
Slide 9: Additional Reconciliations of Non-GAAP Financial Measures to GAAP
ADDITIONAL RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES TO GAAP Revenue & Advertising Spend Split by Channel Q4 2017 Q4 2016 Financial Measure: ($MM) Mobile Desktop Total Mobile Desktop Total GAAP Revenue $16.0 $15.4 $31.4 $26.9 $45.8 $72.7 Plus amounts paid to sellers(1) 100.5 114.4 214.9 72.0 13