Magnite, Inc. · NASDAQ:MGNI
Magnite — Q1 2021 Earnings Presentation
12 slides from Magnite's earnings presentation, May 10, 2021
Slide 1: Financial Highlights Q1 2021
Financial Highlights Q1 2021 May 10, 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 Magnite: ➔ SpotX acquisition closed April 30, 2021 ➔ Total pro forma revenue grew 18% year over year in Q1 2021 to $60.7 million (1) ➔ CTV pro forma revenue grew 32% year over year in Q1 2021 to $12.0 million (1) ➔ Adjusted EBITDA was $9.4 million with a 15% margin in Q1 2021 (2) SpotX (p
Slide 5: Guidance & Long Term Financial Targets
Guidance & Long Term Financial Targets ➔ Q2 Revenue ex-TAC to be $92-$96 million, not including SpotX Revenue ex-TAC for April (2) (1) ➔ Revenue ex-TAC attributable to CTV to be $30-$34 million, not including SpotX revenue (2) ex-TAC for April(1) ➔ Q2 Adjusted EBITDA operating expenses to be between
Slide 6: Magnite Q1 2021 Summary
Magnite Q1 2021 Summary Financial Measures ($MM except per share data) Three Months Ended 3/31/2021 3/31/2020 Change Fav / (Unfav) Revenue $60.7 $36.3 67% Net loss ($12.9) ($9.7) (33%) Adjusted EBITDA(1) $9.4 $2.8 236% (3) Adjusted EBITDA margin 15% 8% 7 ppt Adjusted EBITDA operating expenses(2) $51
Slide 7: Cash Flow and Balance Sheet Highlights
Cash Flow and Balance Sheet Highlights Adjusted Cash Flow Highlights ($MM) Balance Sheet Highlights ($MM) Q1 2021 Q1 2020 Mar 31, Dec 31, 2021 2020 Adjusted EBITDA(1) $9.4 $2.8 Cash & equivalents $468.6 $117.7 Less capital expenditures (9.3) (4.8) Marketable securities — — Cash flow $0.1 ($2.0) (excl
Slide 8: Amortization Schedule
Amortization Schedule Remaining Amortization Schedule for Acquired Intangibles by Period ($MM) Amount 2021 $23.5 2022 26.3 2023 13.9 2024 13.8 2025 4.2 Thereafter 0.6 TOTAL Remaining Amortization of Acquired Intangibles $82.3 Note: Amounts may not foot due to rounding. CONFIDENTIAL © MAGNITE | © MAG
Slide 9: Q1 MGNI Reconciliations of Net Loss to Adjusted EBITDA
Q1 MGNI Reconciliations of Net Loss to Adjusted EBITDA Reconciliation of Net Income to Adjusted EBITDA ($MM) Q1 2021 Q1 2020 Net income ($12.9) ($9.7) Add back (deduct): Depreciation and amortization, excluding amortization of 4.9 6.5 acquired intangible assets Amortization of acquired intangibles 7
Slide 10: Q1 MGNI Reconciliations of Net Loss to Non-GAAP Income (Loss)
Q1 MGNI Reconciliations of Net Loss to Non-GAAP Income (Loss) Reconciliation of Net Income to Non-GAAP Income ($MM, except share figures) Q1 2021 Q1 2020 Net loss ($12.9) ($9.7) Add back (deduct): Acquisition and related items, including 9.9 3.0 amortization of acquired intangibles Stock-based compen
Slide 11: Revenue Split by Channel & Geography
Revenue Split by Channel & Geography Revenue Split by Channel Q1 2021 Q1 2020 Financial Measure: ($MM) CTV Mobile Desktop Total CTV Mobile Desktop Total GAAP Revenue $12.0 $27.9 $20.9 $60.7 - $21.0 $15.3 $36.3 Percent of Revenue 20% 46% 34% 58% 42% Revenue Split by Geography Q1 2021 Q1 2020 Financia
Slide 12: SpotX, Inc. Reconciliation of Revenue to Revenue ex-TAC
SPOTX, INC. RECONCILIATION OF REVENUE TO REVENUE EX-TAC (PRELIMINARY AND UNAUDITED) Reconciliation of Revenue to Revenue Ex-TAC Three Months Ended ($MM, except share figures) March 31, 2021 Revenue(1) $48.0 Less traffic acquisition cost reflected in cost of 16.8 revenue Revenue Ex-TAC(1) $31.2 (1) In f