Magnite, Inc. · NASDAQ:MGNI

Magnite — Q4 2025 Earnings Presentation

17 slides from Magnite's earnings presentation, Feb 25, 2026

  1. Slide 1: Financial Highlights Q4 2025

    Financial Highlights Q4 2025 February 25, 2026 © Magnite | 1

  2. Slide 2: Safe Harbor

    Safe Harbor FORWARD-LOOKING STATEMENTS This presentation and management's prepared remarks during the conference call discussing fourth quarter 2025 results include, and management's answers to questions during the conference call may include, forward-looking statements, including statements based u

  3. 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 on a consistent basis, measure our performance, identify trends affecting our business, establish budgets, measure the effectiveness of investments in our techno

  4. Slide 4: Q4 Highlights

    Q4 Highlights → Contribution ex-TAC(1) of $195.1 million, an increase of 8% year-over-year (16% excluding political), at the high end of $191 to $196 million guidance range → Contribution ex-TAC(1) attributable to CTV of $93.6 million, an increase of 20% year-over-year (32% excluding political), exc

  5. Slide 5: 2025 Full-Year Highlights

    2025 Full-Year Highlights → Total Contribution ex-TAC(1) grew 10% year-over-year (14% excluding political) to $669.6 million, from $606.9 in 2024 → Contribution ex-TAC(1) attributable to CTV of $304.2 million, an increase of 17% year-over-year (22% excluding political), representing 45% of total Con

  6. Slide 6: Q1 2026 Guidance

    Q1 2026 Guidance → Total Contribution ex-TAC(1) to be between $157 and $161 million → Contribution ex-TAC(1) attributable to CTV to be between $81 and $83 million → Contribution ex-TAC(1) attributable to DV+ to be between $76 and $78 million → Adjusted EBITDA operating expenses(2) to be approximatel

  7. Slide 7: 2026 Full-Year Guidance

    2026 Full-Year Guidance → Total Contribution ex-TAC(1) growth at least 11% → Adjusted EBITDA(1) percentage growth in the mid-teens → Adjusted EBITDA margin(2) greater than 35% → Free cash flow(3) growth greater than 30% → Capex of approximately $60 million (1) Contribution ex-TAC and Adjusted EBITDA

  8. Slide 8: World Class Partners

    World Class Partners © Magnite | 8

  9. Slide 9: Q4 2025 Summary

    Q4 2025 Summary Financial Measures ($MM except per share data) Q4 2025 Q4 2024 Change Fav / (Unfav) Revenue $205.4 $194.0 6% Gross Profit $135.8 $126.2 8% (1) Contribution ex-TAC $195.1 $180.2 8% Net income $123.1 $36.4 238% Adjusted EBITDA(1) $83.8 $76.5 9% Adjusted EBITDA margin(2) 42.9% 42.5% 0.4

  10. Slide 10: Cash Flow and Balance Sheet Highlights

    Cash Flow and Balance Sheet Highlights Operating Cash Flow Highlights ($MM) Balance Sheet Highlights ($MM) Q4 2025 Q4 2024 Dec 31, 2025 Dec 31, 2024 Adjusted EBITDA(1) $83.8 $76.5 Cash & equivalents $553.4 $483.2 Less capital expenditures (22.8) (12.1) Debt $556.1 $553.7 Operating cash flow(2) $61.0

  11. Slide 11: Net Leverage

    Net Leverage Note: Net Leverage is calculated as current and non-current debt outstanding less cash & cash equivalents over trailing 4 quarter Adjusted EBITDA. © Magnite | 11

  12. Slide 12: Amortization Schedule

    Amortization Schedule Remaining Amortization Schedule for Acquired Intangibles by Period ($MM) Amount 2026 8.1 2027 2.5 2028 1.4 Thereafter 0.5 Total Remaining Amortization of Acquired Intangibles $12.4 Note: Amounts may not foot due to rounding. © Magnite | 12

  13. Slide 13: Q4 Reconciliation of Net Income to Adjusted EBITDA

    Q4 Reconciliation of Net Income to Adjusted EBITDA Reconciliation of Net Income to Adjusted EBITDA ($MM) Q4 2025 Q4 2024 Net income $123.1 $36.4 Add back (deduct): Stock-based compensation expense 17.8 17.4 Depreciation and amortization exp., excl. amortization of acquired intangible assets 10.9 8.7

  14. Slide 14: Q4 Reconciliation of Net Income to Non-GAAP Income

    Q4 Reconciliation of Net Income to Non-GAAP Income Reconciliation of Net Income to Non-GAAP Income ($MM, except per share figures) Q4 2025 Q4 2024 Net income $123.1 $36.4 Add back (deduct): Stock-based compensation expense 17.8 17.4 Merger, acquisition and restructuring costs, including amortization

  15. Slide 15: Q4 Calculation of Basic and Diluted Earnings Per Share

    Q4 Calculation of Basic and Diluted Earnings Per Share Calculation of Basic and Diluted Earnings Per Share ($MM, except per share figures) Q4 2025 Q4 2024 Net income $123.1 $36.4 Weighted-average common shares used in basic earnings per share 143.7 141.1 Basic earnings per share $0.86 $0.26 Adjustmen

  16. Slide 16: Contribution Ex-TAC by Channel and Revenue by Geography

    Contribution Ex-TAC by Channel and Revenue by Geography Contribution Ex-TAC Split by Channel ($MM) Q4 2025 Q4 2024 CTV Mobile Desktop Total CTV Mobile Desktop Total Contribution ex-TAC $93.6 $72.8 $28.7 $195.1 $77.9 $71.7 $30.6 $180.2 Percent of Total 48% 37% 15% 43% 40% 17% Revenue Split by Geograp

  17. Slide 17: Reconciliation of Revenue to Gross Profit to Contribution Ex-TAC

    Reconciliation of Revenue to Gross Profit to Contribution Ex-TAC Reconciliation of Revenue to Gross Profit to Contribution Ex-TAC ($MM) Q4 2025 Q4 2024 Revenue $205.4 $194.0 Less: Cost of Revenue 69.5 67.8 Gross Profit 135.8 126.2 Add back: Cost of revenue, excluding TAC 59.2 54.0 Contribution ex-TAC

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