Magnite, Inc. · NASDAQ:MGNI
Magnite — The Rubicon Project — Q1 2015 Earnings Presentation
9 slides from Magnite's earnings presentation, May 5, 2015
Slide 1: Q1 2015 Financial Highlights
Leading the Automation of Advertising Q1 2015 Financial Highlights May 5, 2015
Slide 2: Safe Harbor
Safe Harbor Forward-Looking Statements These materials include forward-looking statements concerning or implying growth trends or expectations and Chango’s contribution to expected growth, accretion from the Chango acquisition, the size and growth of the intent marketing business and access to addit
Slide 3: Significant Q1 2015 events
Significant Q1 2015 events Another solid quarter ahead of guidance; 1 62% Y-o-Y revenue growth is highest since the IPO 2 Chango adding considerable top-line growth to outlook Chango acquisition increases TAM; facilitates and adds 3 $35 billion Intent Marketing opportunity to RUBI Marketplace 3
Slide 4: Q1 2015 financial highlights: continuing top and bottom line growth
Q1 2015 financial highlights: continuing top and bottom line growth Q1 Managed Revenue(1) Q1 Revenue Q1 Adjusted EBITDA(1) ($MM) ($MM) ($MM) $197 $37.2 $4.2 Axis Title $130 $23.0 Axis Title 18.9% 17.8% ($1.6) Q1 2014 Q1 2015 Q1 2014 Q1 2015 Q1 2014 Q1 2015 TAKE RATE (1) The appendix provides a defin
Slide 5: Quarterly results also show continued solid top and bottom line results
Quarterly results also show continued solid top and bottom line results Quarterly Revenue $41.8 Quarterly Adjusted EBITDA(1) ($MM) ($MM) $37.2 $13.3 $32.2 RUBI’s quarterly revenues and Adj. EBITDA $28.1 $28.3 reflect advertising industry seasonality with Q4 typically being highest $23.0 $6.5 $4.8 $4
Slide 6: Balance sheet highlights
Balance sheet highlights 3/31/2015 12/31/2014 Financial measure: ($MM) Cash and equivalents $120.3 $97.2 Debt and capital lease obligations $0.1 $0.1 Accounts receivable, net $120.7 $133.3 Accounts payable and accrued expenses $153.7 $151.0 Note on subsequent event 6
Slide 7: Chango deal expected to turn accretive in Q4 2015
Chango deal expected to turn accretive in Q4 2015 Deal = expected to turn accretive on a non-GAAP EPS basis in Q4 2015 • Brings a $35 billion Intent Marketing opportunity to Rubicon Project’s Marketplace. • Provides access to data-driven targeting and retargeting budgets. • Provides foundation to fa
Slide 8: Appendix: definitions of operational measures
Appendix: definitions of operational measures • Managed revenue: represents advertising spending transacted on our platform and would represent revenue if we were to record our revenue on a gross basis instead of a net basis. Managed revenue does not represent revenue reported in accordance with gen
Slide 9: Appendix: Net loss to Adjusted EBITDA reconciliation
Appendix: Net loss to Adjusted EBITDA reconciliation Q1 2015 Q1 2014 Financial Measure: ($ MM) Net loss ($5.0) ($6.1) Add back (deduct): Depreciation and amortization, excluding acquisition of acquired intangible assets 3.4 2.2 Amortization of acquired intangibles 1.0 0.1 Stock-based compensation ex