Magnite
The largest independent sell-side platform, especially in connected TV.
New York, USA · founded 2007 · magnite.com
MGNI NASDAQ
What Magnite does
Magnite is an SSP: it helps publishers and streaming services sell their ad space to many buyers at once through automated auctions. It formed in 2020 when Rubicon Project merged with Telaria, then bought SpotX and SpringServe, making it the biggest independent seller of CTV ads.
Its clients include Netflix, Roku, Disney and many news sites. As Google's ad tech faces antitrust remedies, Magnite is one of the companies most likely to benefit.
How it makes money
Takes a percentage fee on the ad spend that passes through its platform (its take rate), plus fees for ad-serving tools like SpringServe.
Where it meets invalid traffic
Screens supply for invalid traffic and spoofed CTV apps, is TAG Certified Against Fraud, and publishes sellers.json to show who it represents.
Products
- Magnite Streaming
- Magnite DV+
- SpringServe
- ClearLine
- Magnite Access
Quarterly revenue
From SEC XBRL filings · latest quarter +11.2% year on yearQuarterly net income
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $468.4M | $577.1M | $619.7M | $668.2M | $714M |
| Net income | $65K | $-130.3M | $-159.2M | $22.8M | $144.6M |
| Diluted EPS | $0.00 | $-0.98 | $-1.17 | $0.16 | $0.95 |
Earnings, explained
Magnite's Q2 revenue up 11%, CTV ex-TAC surges 36%, raises 2026 outlook
Magnite reported Q2 2026 revenue of $192.8 million, an 11% increase year-over-year. Contribution ex-TAC grew 17% to $189.6 million, with CTV ex-TAC jumping 36% to $97.1 million. Net income rose to $19.4 million from $11.1 million a year ago, and Adjusted EBITDA climbed 30% to $70.6 million with a 37% margin. The company raised its full-year 2026 guidance for Contribution ex-TAC growth, Adjusted EBITDA growth, and margin.
Magnite's strong growth, especially in CTV, and its raised outlook signal robust demand for programmatic streaming ads and effective cost management. This performance suggests continued momentum in digital ad spending and confidence in Magnite's position in the market.
Latest Magnite news
Search allMagnite Reports 17% Revenue Growth and 30% EBITDA Increase in Q2 Results
Magnite announced its second quarter financial results, showing a 17% increase in revenue and a 30% rise in EBITDA. Despite these strong numbers, analysts have maintained a Hold rating on the company's stock.
Magnite Stock Downgraded Amid Valuation Concerns
Magnite's stock has been downgraded, with analysts suggesting it is trading slightly above its fair value. The downgrade indicates a wait-and-see approach as investors look for further confirmation of the company's growth or stability.
Magnite Stock Rises as Google Ad-Tech Changes Lead to Price Target Increase
Magnite's stock is set for another month of gains following a boost in its price target. The positive outlook is linked to recent changes in Google's advertising technology, which are expected to create new growth opportunities for Magnite.
BofA Securities Raises Magnite Price Target by 50% Following DOJ Developments
BofA Securities has increased its price target for Magnite by 50%, citing recent actions or findings from the Department of Justice. The move suggests renewed confidence in Magnite's business outlook amid regulatory changes or…
Magnite Seen as Potential Beneficiary Amid DOJ Scrutiny of Google’s Ad Business
Bank of America analysts suggest that Magnite may gain from the U.S. Department of Justice’s actions targeting Google’s dominance in digital advertising. The DOJ’s investigation could lead to changes in the ad tech landscape, potentially…
Magnite Stock Rises 6%, Up 53% Year-to-Date, Outperforming Market
Magnite's stock price increased by 6% and has climbed 53% since the start of the year, surpassing broader market performance. The company's strong growth reflects positive investor sentiment in the ad tech sector.
Magnite May Benefit From DOJ Action Against Google Ad Exchange
Magnite, a major supply-side platform, could see increased ad spending if the U.S. Department of Justice imposes restrictions on Google's ad exchange business. The potential changes may shift market share away from Google, opening…
Magnite's Growth Prospects Rise Following Favorable Google Court Decision
Magnite's future growth outlook has improved significantly after a recent court ruling involving Google, according to Bank of America. The decision appears to have positive implications for Magnite's position in the digital advertising…
Magnite Stock Rises 6%, Outpacing Other Ad Tech Firms With 53% Year-to-Date Gain
Magnite's share price increased by 6%, bringing its year-to-date growth to 53%. This performance sets it apart from other ad tech companies like The Trade Desk and AppLovin, whose stocks have remained relatively stable.
SEC filings
EDGAR| Filed | Form | What it is |
|---|---|---|
| 2026-09-21 | 8-K | Executive or director change · Financial statements and exhibits |
| 2026-08-05 | 10-Q | Quarterly report |
| 2026-08-05 | 8-K | Results of operations (earnings) · Financial statements and exhibits |
| 2026-06-11 | 8-K | Shareholder vote |
| 2026-05-06 | 10-Q | Quarterly report |
| 2026-05-06 | 8-K | Results of operations (earnings) · Financial statements and exhibits |
| 2026-04-21 | DEF 14A | DEFINITIVE PROXY STATEMENT |
| 2026-04-20 | 8-K | Executive or director change · Regulation FD disclosure · Financial statements and exhibits |
| 2026-04-10 | 8-K | Executive or director change |
| 2026-02-25 | 8-K | Results of operations (earnings) · Financial statements and exhibits |
| 2026-02-25 | 10-K | Annual report |
| 2025-11-05 | 8-K | Results of operations (earnings) · Financial statements and exhibits |
| 2025-11-05 | 10-Q | Quarterly report |
| 2025-09-16 | 8-K | Regulation FD disclosure · Other events · Financial statements and exhibits |
| 2025-09-05 | 8-K | Material agreement |