MNTN, Inc. MNTN

Technology SIC 7310 - Services-Advertising NYSE

MNTN is on a mission to transform CTV into a next-generation performance marketing channel.

Our revolutionary PTV software platform allows marketers to combine the powerful storytelling format of TV advertising with the targeting, measurement and attribution capabilities of paid search and social advertising. Our self-serve software platform enables marketers to precisely target audiences through our MNTN Matched technology and then directly attribute each view to a purchase or other action. Marketers can set performance goals, such as ROAS, and our algorithms continuously optimize a campaign to achieve those goals.

Our market opportunity sits at the center of three large advertising markets: performance marketing, traditional TV advertising, and CTV advertising. Today, performance marketing, also known as direct response marketing, is the dominant form of digital advertising, giving marketers the ability to leverage data to target specific audiences and drive measurable outcomes. TV has historically lacked the targeting, measurement and attribution capabilities necessary for performance marketing, but TV's unmatched storytelling experience, massive audience reach and viewership minutes continues to make it a preferred premium channel for marketers seeking to increase brand awareness.

Last close 12.95 2026-09-04
Market cap $957.3M estimated share count
52-week range 7.67 - 20.86

Valuation FY2025 figures against the last close

P/S3.3x
P/E
P/FCF17.0x
EV/EBITDA28.2x
Dividend yield
Diluted EPS-0.13

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023
Revenue $290.1M$225.6M
Cost of revenue $66.2M$64.1M
Gross profit $223.9M$161.5M
R&D $49.2M$32.7M
SG&A $57.7M$51.8M
Total operating expenses $199.9M$163.2M
Operating income $24.0M-$1.6M
Pre-tax income -$16.0M-$27.1M
Income tax $9.6M$5.8M
Net income -$6.4M-$32.9M
EPS, basic -0.13-2.38
EPS, diluted -0.13-2.38
Shares, diluted (wtd. avg.) $50.9M$13.8M

Balance sheet

Fiscal year FY2025FY2024FY2023
Cash and equivalents $210.2M$82.6M
Receivables $61.8M$66.9M
Total current assets $286.5M$158.4M
Property, plant and equipment $0$100.0K
Goodwill $51.9M$51.9M
Total assets $378.3M$238.7M
Accounts payable $59.5M$63.6M
Total current liabilities $68.5M$155.2M
Total liabilities $72.6M$177.5M
Retained earnings -$261.1M-$254.7M
Total equity $305.7M-$107.6M-$105.9M

Cash flow

Fiscal year FY2025FY2024FY2023
Operating cash flow $56.5M$42.5M
Depreciation and amortisation $9.9M$8.3M
Stock-based compensation $31.7M$31.2M
Investing cash flow -$17.1M-$9.9M
Financing cash flow $88.2M-$5.0M
Buybacks $10.0M$333.0K

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 0001891027-26-000019.

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