Magnite, Inc. · NASDAQ:MGNI

Magnite — Q3 2025 Earnings Presentation

16 slides from Magnite's earnings presentation, Nov 5, 2025

  1. Slide 1: Financial Highlights Q3 2025

    Financial Highlights Q3 2025 November 5, 2025 © Magnite | 1

  2. Slide 2: Safe Harbor

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

  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: Q3 Highlights

    Q3 Highlights → Contribution ex-TAC(1) of $166.8 million, up 12% year-over-year (16% excluding political), exceeded guidance of $161 to $165 million → Contribution ex-TAC(1) attributable to CTV of $75.8 million, up 18% year-over-year (25% excluding political), exceeded guidance of $71 to $73 million

  5. Slide 5: Q4 2025 Guidance

    Q4 2025 Guidance → Total Contribution ex-TAC(1) to be between $191 million and $196 million (representing growth of 6% to 9%, or 13% to 16%, excluding political) → Contribution ex-TAC(1) attributable to CTV to be between $87 million and $89 million (representing growth of 12% to 14%, or 23% to 25%,

  6. Slide 6: 2025 & 2026 Full-Year Expectations

    2025 & 2026 Full-Year Expectations 2025 → Continue to expect total Contribution ex-TAC(1) growth above 10%, or mid-teens excluding political → Mid-teens percentage growth of Adjusted EBITDA(1) → Increasing Adjusted EBITDA margin(2) expansion to approximately 180 basis points → Capital expenditures o

  7. Slide 7: Recent Wins

    Recent Wins → Netflix Ads Suite deployed across all of its ads markets for a full quarter, pacing in line with Magnite expectations → Magnite acquired streamr.ai, a platform specializing in AI tools that make CTV advertising accessible to SMBs → Best Buy Ads selected Magnite as its exclusive supply-s

  8. Slide 8: Q3 2025 Summary

    Q3 2025 Summary Financial Measures ($MM except per share data) Q3 2025 Q3 2024 Change Fav / (Unfav) Revenue $179.5 $162.0 11% Gross Profit $110.1 $99.5 11% (1) Contribution ex-TAC $166.8 $149.4 12% Net income $20.1 $5.2 285% Adjusted EBITDA(1) $57.2 $50.6 13% Adjusted EBITDA margin(2) 34% 34% 0 ppt B

  9. Slide 9: Cash Flow and Balance Sheet Highlights

    Cash Flow and Balance Sheet Highlights Operating Cash Flow Highlights ($MM) Balance Sheet Highlights ($MM) Q3 2025 Q3 2024 Sept 30, 2025 Dec 31, 2024 Adjusted EBITDA(1) $57.2 $50.6 Cash & equivalents $482.1 $483.2 Less capital expenditures (18.1) (10.4) Debt $556.3 $553.7 Operating cash flow(2) $39.1

  10. Slide 10: 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 | 10

  11. Slide 11: Amortization Schedule

    Amortization Schedule Remaining Amortization Schedule for Acquired Intangibles by Period ($MM) Amount 2025 2.6 2026 8.1 2027 2.5 2028 1.4 Thereafter 0.5 Total Remaining Amortization of Acquired Intangibles $15.1 Note: Amounts may not foot due to rounding. © Magnite | 11

  12. Slide 12: Q3 Reconciliation of Net Income to Adjusted EBITDA

    Q3 Reconciliation of Net Income to Adjusted EBITDA Reconciliation of Net Income to Adjusted EBITDA ($MM) Q3 2025 Q3 2024 Net income $20.1 $5.2 Add back (deduct): Stock-based compensation expense 18.0 18.7 Depreciation and amortization exp., excl. amortization of acquired intangible assets 10.1 7.0 A

  13. Slide 13: Q3 Reconciliation of Net Income to Non-GAAP Income

    Q3 Reconciliation of Net Income to Non-GAAP Income Reconciliation of Net Income to Non-GAAP Income ($MM, except per share figures) Q3 2025 Q3 2024 Net income $20.1 $5.2 Add back (deduct): Stock-based compensation expense 18.0 18.7 Merger, acquisition and restructuring costs, including amortization of

  14. Slide 14: Q3 Calculation of Basic and Diluted Earnings Per Share

    Q3 Calculation of Basic and Diluted Earnings Per Share Calculation of Basic and Diluted Earnings Per Share ($MM, except per share figures) Q3 2025 Q3 2024 Net income $20.1 $5.2 Weighted-average common shares used in basic earnings per share 143.0 141.3 Basic earnings per share $0.14 $0.04 Dilutive ef

  15. Slide 15: 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) Q3 2025 Q3 2024 CTV Mobile Desktop Total CTV Mobile Desktop Total Contribution ex-TAC $75.8 $64.4 $26.5 $166.8 $64.4 $59.3 $25.7 $149.4 Percent of Total 45% 39% 16% 43% 40% 17% Revenue Split by Geograp

  16. Slide 16: 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) Q3 2025 Q3 2024 Revenue $179.5 $162.0 Less: Cost of Revenue 69.4 62.5 Gross Profit 110.1 99.5 Add back: Cost of revenue, excluding TAC 56.6 50.0 Contribution ex-TAC $

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