MAGNITE, INC. MGNI
Magnite, Inc., ("we," or "us"), provides technology solutions to automate the purchase and sale of digital advertising inventory.
We believe that we are the world's largest independent omni-channel sell-side advertising platform ("SSP"), offering a single partner for transacting globally across all channels, formats and auction types, and the largest independent programmatic CTV marketplace, making it easier for buyers to reach CTV audiences at scale from industry-leading streaming content providers, broadcasters, platforms and device manufacturers.
Our platform features applications and services for sellers of digital advertising inventory, or publishers, that own and operate CTV channels, applications, websites and other digital media properties, to manage and monetize their inventory; applications and services for buyers, including advertisers, agencies, agency trading desks, and demand side platforms ("DSPs"), to buy digital advertising inventory; and a transparent, independent marketplace that brings buyers and sellers together and facilitates intelligent decision making and automated transaction execution at scale. Our clients include many of the world's leading buyers and sellers of digital advertising inventory. Our platform processes trillions of ad requests per month, allowing buyers access to a global, scaled, independent alternative to "walled gardens," who both own and sell inventory and maintain control on the demand side.
Valuation FY2025 figures against the last close
Where the revenue comes from as reported in the latest 10-K
Revenue by geography
- United States
- International
| Region | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| United States | $537.7M | $498.4M | $462.2M |
| International | $176.2M | $169.7M | $157.5M |
As the company reported it, from the “Revenue - Schedule of Revenue Disaggregated by Geographic Location (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $714.0M | $668.2M | $619.7M | $577.1M | $468.4M | $221.6M | $156.4M | $124.7M | $155.5M | $278.2M |
| Cost of revenue | $266.6M | $258.8M | $409.9M | $307.2M | $201.7M | $77.7M | $57.4M | $60.0M | $56.8M | $73.2M |
| Gross profit | $447.3M | $409.3M | $209.8M | $269.9M | $266.8M | $143.9M | $99.0M | $64.7M | $98.7M | $205.0M |
| R&D | $84.7M | $95.2M | $94.3M | $93.8M | $74.4M | $51.5M | $40.2M | $37.9M | $47.5M | $51.2M |
| SG&A | $93.2M | $96.9M | $89.0M | $81.4M | $64.8M | $53.0M | $39.8M | $42.4M | $55.6M | $68.6M |
| Total operating expenses | $616.4M | $617.1M | $774.7M | $689.9M | $549.5M | $275.9M | $184.0M | $188.3M | $312.5M | $303.1M |
| Operating income | $97.6M | $51.1M | -$155.0M | -$112.8M | -$81.1M | -$54.2M | -$27.6M | -$63.6M | -$157.0M | -$24.9M |
| Interest expense | $18.9M | $27.0M | $32.4M | $29.3M | $19.8M | $50.0K | $789.0K | $988.0K | $908.0K | $491.0K |
| Pre-tax income | $70.6M | $26.5M | -$157.5M | -$135.6M | -$95.0M | -$52.7M | -$27.0M | -$61.5M | -$156.5M | -$22.9M |
| Income tax | $74.0M | $3.7M | $1.6M | $5.3M | $95.1M | $693.0K | $1.5M | $357.0K | $1.8M | $4.9M |
| Net income | $144.6M | $22.8M | -$159.2M | -$130.3M | $65.0K | -$53.4M | -$25.5M | -$61.8M | -$154.8M | -$18.1M |
| EPS, basic | 1.01 | 0.16 | -1.17 | -0.98 | 0.00 | -0.55 | -0.48 | — | -3.17 | -0.39 |
| EPS, diluted | 0.95 | 0.16 | -1.17 | -0.98 | 0.00 | -0.55 | -0.48 | -1.23 | -3.17 | -0.39 |
| Shares, diluted (wtd. avg.) | 153.8M | 146.8M | 136.6M | 132.9M | 136.3M | 96.7M | 52.6M | 50.3M | 48.9M | 46.7M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $553.4M | $483.2M | $326.2M | $326.5M | $230.7M | $117.7M | $88.9M | $80.5M | $76.6M | $149.4M |
| Receivables | $1.30B | $1.20B | $1.18B | $976.5M | $927.8M | $471.7M | $217.6M | $205.7M | $165.9M | $192.1M |
| Total current assets | $1.88B | $1.70B | $1.52B | $1.33B | $1.18B | $607.1M | $313.1M | $300.5M | $304.7M | $391.6M |
| Property, plant and equipment | $108.5M | $68.7M | $47.4M | $45.0M | $34.1M | $23.7M | $23.7M | $33.5M | $47.4M | $36.2M |
| Goodwill | $983.9M | $978.2M | $978.2M | $978.2M | $969.9M | $158.1M | $7.4M | $0 | $0 | $65.7M |
| Other intangibles | $12.4M | $21.3M | $51.0M | $253.5M | $426.6M | $89.9M | $11.4M | $10.2M | $13.4M | $6.8M |
| Total assets | $3.16B | $2.85B | $2.69B | $2.71B | $2.71B | $939.0M | $395.1M | $360.0M | $383.6M | $519.8M |
| Accounts payable | $1.61B | $1.47B | $1.37B | $1.09B | $1.00B | $509.3M | $259.4M | $239.7M | $214.1M | $214.9M |
| Short-term debt | $208.4M | $3.6M | $3.6M | $3.6M | $3.6M | $0 | — | — | — | — |
| Total current liabilities | $1.84B | $1.50B | $1.40B | $1.13B | $1.03B | $522.2M | $267.5M | $241.0M | $217.2M | $218.4M |
| Long-term debt | $347.7M | $550.1M | $533.0M | $722.8M | $720.0M | $0 | — | — | — | — |
| Total liabilities | $2.24B | $2.09B | $1.99B | $1.92B | $1.83B | $557.3M | $283.2M | $242.0M | $219.0M | $220.3M |
| Retained earnings | -$516.6M | -$661.2M | -$684.0M | -$524.8M | -$394.5M | -$394.5M | -$341.1M | -$315.6M | -$253.8M | -$99.0M |
| Total equity | $922.4M | $768.2M | $701.7M | $791.3M | $880.8M | $381.6M | $111.9M | $118.0M | $164.6M | $299.5M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $236.2M | $235.2M | $214.4M | $192.6M | $126.6M | -$12.1M | $32.0M | -$22.7M | $21.5M | $60.1M |
| Depreciation and amortisation | $53.7M | $58.5M | $240.8M | $216.1M | $146.9M | $49.2M | $32.1M | $35.3M | $36.2M | $42.8M |
| Stock-based compensation | $76.6M | $76.5M | $72.6M | $64.1M | $40.7M | $28.5M | $18.8M | $16.3M | $20.5M | $28.7M |
| Capital expenditure | $70.5M | $32.8M | $26.8M | $30.8M | $17.7M | $14.3M | $11.4M | $11.4M | $32.4M | $23.5M |
| Investing cash flow | -$92.8M | -$47.5M | -$37.4M | -$65.2M | -$691.0M | $32.6M | -$23.4M | $27.9M | -$93.2M | -$37.4M |
| Financing cash flow | -$75.1M | -$28.9M | -$177.8M | -$30.2M | $678.1M | $7.4M | -$205.0K | -$1.3M | -$1.4M | $10.1M |
| Buybacks | $46.3M | $14.6M | $0 | $15.7M | $6.0M | $0 | $0 | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001999371-26-008635.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $278.2M | $155.5M | $124.7M | $156.4M | $221.6M | $468.4M | $577.1M | $619.7M | $668.2M | $714.0M |
| Gross profit | $205.0M | $98.7M | $64.7M | $99.0M | $143.9M | $266.8M | $269.9M | $209.8M | $409.3M | $447.3M |
| Net income | -$18.1M | -$154.8M | -$61.8M | -$25.5M | -$53.4M | $65.0K | -$130.3M | -$159.2M | $22.8M | $144.6M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Officer or director change Item 5.02
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Results announced Item 2.02
- Regulation FD disclosure Item 7.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
Others in SIC 7370
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| GOOGL | Alphabet Inc. | $3.89T | 29.6x | 15.1% |
| META | Meta Platforms, Inc. | $1.63T | 27.4x | 22.2% |
| APP | AppLovin Corp | $87.39B | 26.7x | 70.0% |
| ZM | Zoom Communications, Inc. | $28.05B | 15.5x | 4.4% |
| FLUT | Flutter Entertainment plc | $13.90B | — | 16.6% |
| PINS | PINTEREST, INC. | $12.56B | 36.6x | 15.8% |
| FDS | FACTSET RESEARCH SYSTEMS INC | $11.78B | 21.3x | 5.4% |
| DOCN | DigitalOcean Holdings, Inc. | $10.96B | 37.0x | 15.5% |