Magnite, Inc. · NASDAQ:MGNI
Magnite — Q2 2015 Earnings Presentation
12 slides from Magnite's earnings presentation, Jul 28, 2015
Slide 1: Q2 2015 Financial Highlights
Leading the Automation of Advertising Q2 2015 Financial Highlights July 28, 2015
Slide 2: Safe Harbor
Safe Harbor Forward-Looking Statements These materials include forward-looking statements concerning or implying growth trends or expectations, including without limitation growth in our mobile, Orders, and buyer cloud businesses. Forward-looking statements are not guarantees of future performance;
Slide 3: Significant Q2 2015 events
Significant Q2 2015 events 6th consecutive quarter of exceeding expectations 1 for revenue, non-GAAP EPS and Adjusted EBITDA (100% since IPO) Mobile and Orders growing quickly, increasing 2 as a percentage of managed revenue Expanded Buyer Cloud business delivering ahead of 3 expectations, including
Slide 4: Q2 2015 revenue highlights
Q2 2015 revenue highlights Q2 Managed Revenue(1, 2) Q2 GAAP Revenue Q2 Non-GAAP Net Revenue(3) ($MM) $227 ($MM) ($MM) $53.0 $48.5 $154 $28.3 $28.3 21.4% 18.4% Effective Q2 2015, GAAP Revenue reflects the acquisition and integration Non-GAAP Net Revenue of Chango in April 2015 and includes assumes al
Slide 5: By all comparisons Q2 2015 outperformed vs. guidance
By all comparisons Q2 2015 outperformed vs. guidance Net Revenue – GAAP Revenue Basis Net Revenue Only Transactions ALL Transactions ($MM) ($MM) $53.0 ($MM) $48.5 $46.5 $42.0 $42.7 $40.0 +16% Outperformance +14% +7% Outperformance Outperformance Non-GAAP Net Revenue assumes Effective Q2 2015, GAAP R
Slide 6: Net and gross revenue reporting
Net and gross revenue reporting Reporting Transaction Types Method Revenue is reported net for transactions in which buyers and sellers of Net advertising use the Company's solution to execute or facilitate their purchase and sale of advertising. Revenue is reported gross for those arrangements for
Slide 7: Adjusted EBITDA highlights
Adjusted EBITDA highlights Q2 Adjusted EBITDA(1) Trend in FY 2015 Guidance for Adj. EBITDA ($MM) ($MM) $37.0 $6.7 $25.5 Axis Title $20.5 $2.7 2015 Adj. EBITDA guidance has increased 80% (at the midpoint of the guidance range) Q2 2014 Q2 2015 As of 2/24/2015 As of 5/5/2015 As of 7/28/2015 (1) The app
Slide 8: Consistently solid top and bottom line quarterly results
Consistently solid top and bottom line quarterly results Quarterly Revenue (GAAP) Quarterly Adjusted EBITDA(1) ($MM) $53.0 ($MM) $13.3 $41.8 RUBI’s quarterly revenues and Adj. EBITDA $37.2 reflect advertising industry seasonality with $32.2 Q4 typically being highest $28.1 $28.3 $23.0 $6.5 $6.7 $20.
Slide 9: Strong growth in Mobile and Orders managed revenue
Strong growth in Mobile and Orders managed revenue 22% Orders as % of Total RUBI Managed Revenue Q2 2015 Expecting 15% 17% 3% Managed 13% Q1 2013 Q4 2014 Q1 2015 Q2 2015 Revenue from Mobile to Surpass $200M in 2015 Q1 2013 Q2 2015 Q2 2015 Managed Revenue by channel was 78% Desktop and 22% Mobile and
Slide 10: Balance sheet highlights
Balance sheet highlights 6/30/2015 12/31/2014 Financial measure: ($MM) Cash and liquid assets $117.3 $97.2 Debt and capital lease obligations $Nil $0.1 Accounts receivable, net $147.7 $133.3 Accounts payable and accrued expenses $177.3 $151.0 Note on subsequent event 10
Slide 11: Appendix: Net loss to Adjusted EBITDA reconciliation
Appendix: Net loss to Adjusted EBITDA reconciliation Q2 2015 Q2 2014 Financial Measure: ($ MM) Net loss ($11.9) ($9.4) Add back (deduct): Depreciation and amortization, excluding acquisition of acquired intangible assets 4.2 2.6 Amortization of acquired intangibles 5.3 0.1 Stock-based compensation e
Slide 12: Appendix: Depreciation and Amortization
Appendix: Depreciation and Amortization Income statement includes depreciation and Q2 2015 Q2 2014 6 MOS 2015 6 MOS 2014 amortization as follows: ($ MM) Cost of revenue $5.3 $2.3 $8.7 $4.2 Sales and marketing $3.2 $0.1 $3.7 $0.2 Technology and development $0.5 $0.2 $0.7 $0.4 General and administrati