Magnite, Inc. · NASDAQ:MGNI

Magnite — Q2 2022 Earnings Presentation

13 slides from Magnite's earnings presentation, Aug 9, 2022

  1. Slide 1: Financial Highlights Q2 2022

    Financial Highlights Q2 2022 August 9, 2022 CONFIDENTIAL © MAGNITE | © MAGNITE

  2. Slide 2: Safe Harbor

    Safe Harbor FORWARD-LOOKING STATEMENTS This presentation, press release 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

  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, measure our performance, identify trends affecting our business, establish budgets, measure the effectiveness of investments in our technology and development

  4. Slide 4: Q2 Highlights

    Q2 Highlights ➔ Total Revenue ex-TAC(1) grew 23% year over year to $123.3 million ➔ Revenue ex-TAC(1) attributable to CTV grew 52% year-over-year to $52.1 million and 19% on a pro forma(2) basis ➔ Revenue ex-TAC attributable to CTV represented 42% of total revenue ex-TAC ➔ Adjusted EBITDA(1) increas

  5. Slide 5: Guidance and Long-Term Financial Targets

    Guidance and Long-Term Financial Targets ➔ Q3 Revenue ex-TAC(1) to be between $122-126 million ➔ Q3 Revenue ex-TAC(1) attributable to CTV to be between $52-54 million ➔ Q3 Adjusted EBITDA operating expenses(2) to be between $85-$87 million ➔ 2022 Revenue ex-TAC(1) to be over $500 million ➔ 2022 Free

  6. Slide 6: Magnite Q2 2022 Summary

    Magnite Q2 2022 Summary Financial Measures ($MM except per share data) Three Months Ended 6/30/2022 6/30/2021 Change Fav / (Unfav) Revenue $137.8 $114.5 20% (1) Revenue ex-TAC $123.3 $100.4 23% Gross Profit $72.8 $64.0 14% Net income (loss) ($25.0) $36.8 (168%) Adjusted EBITDA(1) $41.3 $31.8 30% Adju

  7. Slide 7: Cash Flow and Balance Sheet Highlights

    Cash Flow and Balance Sheet Highlights Operating Cash Flow Highlights ($MM) Balance Sheet Highlights ($MM) Q2 2022 Q2 2021 June 30, Dec 31, 2022 2021 Adjusted EBITDA(1) $41.3 $31.8 Cash & equivalents $233.1 $230.4 Less capital expenditures (11.8) (8.0) Debt $ 725.0 $ 723.6 Operating cash flow(2) $29.

  8. Slide 8: Net Leverage

    Net Leverage CONFIDENTIAL © MAGNITE Note: |© Net Leverage is calculated as current and non-current debt outstanding less cash & cash equivalents over trailing 4 quarter Adjusted EBITDA. MAGNITE 8

  9. Slide 9: Amortization Schedule

    Amortization Schedule Remaining Amortization Schedule for Acquired Intangibles by Period ($MM) Amount 2022 $72.5 2023 104.9 2024 87.3 2025 70.8 2026 24.7 Thereafter 0.4 TOTAL Remaining Amortization of Acquired Intangibles $360.6 CONFIDENTIAL © MAGNITE | © MAGNITE Note: Amounts may not foot due to ro

  10. Slide 10: Q2 Reconciliations of Net Income (Loss) to Adjusted EBITDA

    Q2 Reconciliations of Net Income (Loss) to Adjusted EBITDA Reconciliation of Net Income (Loss) to Adjusted EBITDA ($MM) Q2 2022 Q2 2021 Net income (loss) ($25.0) $36.8 Add back (deduct): Depreciation and amortization expense, excluding 7.4 6.4 amortization of acquired intangible assets Amortization

  11. Slide 11: Q2 Reconciliations of Net Income (Loss) to Non-GAAP Income

    Q2 Reconciliations of Net Income (Loss) to Non-GAAP Income Reconciliation of Net Income (Loss) to Non-GAAP Income ($MM, except per share figures) Q2 2022 Q2 2021 Net income (loss) ($25.0) $36.8 Add back (deduct): Merger, acquisition and restructuring costs, including amortization of acquired intangib

  12. Slide 12: Revenue by Channel and Geography

    Revenue by Channel and Geography Revenue Ex-TAC Split by Channel ($MM) Q2 2022 Q2 2021 CTV Mobile Desktop Total CTV Mobile Desktop Total Revenue ex-TAC $52.1 $44.0 $27.2 $123.3 $34.3 $38.8 $27.4 $100.4 Percent of Revenue 42% 36% 22% 34% 39% 27% Revenue Split by Geography ($MM) Q2 2022 Q2 2021 U.S. I

  13. Slide 13: Reconciliation of Revenue to Revenue Ex-TAC

    Reconciliation of Revenue to Revenue Ex-TAC Three Months Three Months Reconciliation of Revenue to Revenue Ex-TAC Ended June 30, Ended June 30, ($MM) 2022 2021 Revenue $137.8 $114.5 Less: Cost of Revenue 65.0 50.5 Gross Profit 72.8 64.0 Add back: Cost of revenue, excluding TAC 50.5 36.4 Revenue ex-TA

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