CTV Pro Forma Revenue Grows 53% Year over Year in Q4 2020. © Copyright 2021 Magnite, Inc. All rights reserved. Magnite reported earnings per share of ($0.06) in the same quarter […] Magnite Website Privacy Policy | Ad Choices & Opt-Out, Magnite Reports Fourth Quarter 2020 Results, https://www.businesswire.com/news/home/20210224006051/en/, Online Video ("OLV") revenue grew 35% year over year in Q4 2020 on a pro forma basis, Full year 2020 total video (CTV & OLV) pro forma revenue was, We expect revenue for Q1 2021 to be between, Q1 2021 Adjusted EBITDA operating expenses expected to be between, Acquisition on track to close in Q2 2021, subject to customary closing conditions. SpotX non-GAAP net revenue is defined as GAAP revenue less amounts paid to sellers that are included within cost of revenue for the portion of revenue that is reported on a gross basis. Adjusted EBITDA, non-GAAP net income (loss), and non-GAAP income (loss) per share are non-GAAP financial measures. RECONCILIATION OF REVENUE TO NON-GAAP NET REVENUE, Less Non-Recurring Related Party Revenue (1), Less amounts paid to sellers reflected in cost of revenue. © Copyright 2021 Magnite, Inc. All rights reserved. CTV Pro Forma Revenue Grows 53% Year over Year in Q4 2020. Report Post | Recommend it! Subject: Magnite 4th Quarter Earnings Date: 2/24/2021 4:50 PM Post New | Post Reply | Reply Later | Create Poll. This press release and management's prepared remarks during the conference call referred to above include, and management's answers to questions during the conference call may include, forward-looking statements, including statements based upon or relating to our expectations, assumptions, estimates, and projections. RECONCILIATION OF NET LOSS TO ADJUSTED EBITDA, Acquisition & Non Recurring Related Party Revenue. Zero analysts have issued estimates for Magnite’s earnings, with the highest EPS estimate coming in at $0.02 and the lowest estimate coming in at ($0.03). LOS ANGELES--(BUSINESS WIRE)--Feb. 24, 2021-- Adjusted EBITDA does not reflect non-cash charges related to acquisition and related items, such as amortization of acquired intangible assets, merger related severance costs, and changes in the fair value of contingent consideration. We adjust Adjusted EBITDA operating expenses for the same expense items excluded in Adjusted EBITDA. These statements are not guarantees of future performance; they reflect our current views with respect to future events and are based on assumptions and estimates and subject to known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from expectations or results projected or implied by forward-looking statements. Magnite, Inc., whose market valuation is $4.54 Billion at the time of this writing, is expected to release its quarterly earnings report May 04, 2021- May 10, 2021. Magnite (NASDAQ: MGNI), the largest independent sell-side advertising platform, today reported its results of operations for the fourth quarter and … 24.02.2021 - Magnite (NASDAQ: MGNI), the largest independent sell-side advertising platform, today reported its results of operations for the fourth quarter and … Total operating expenses include cost of revenue. You are encouraged to evaluate these adjustments, and review the reconciliation of these non-GAAP financial measures to their most comparable GAAP measures, and the reasons we consider them appropriate. In some cases, you can identify forward-looking statements by terms such as "may," "might," "will," "objective," "intend," "should," "could," "can," "would," "expect," "believe," "design," "anticipate," "estimate," "predict," "potential," "plan" or the negative of these terms, and similar expressions. This compares to loss … Non-GAAP earnings (loss) per share is a performance measure and should not be used as a measure of liquidity. Fourth Quarter 2020 Results Conference Call and Webcast: The Company will host a conference call on February 24, 2021 at 1:30 PM (PT) / 4:30 PM (ET) to discuss the results for its fourth quarter of 2020. Prepaid expenses and other current assets, Internal use software development costs, net, TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY, CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS. Please see the reconciliations to GAAP revenue included at the end of this press release. Company Posts Adjusted EBITDA Margin of 37% in Quarter. Magnite (MGNI) came out with quarterly earnings of $0.06 per share, beating the Zacks Consensus Estimate of a loss of $0.03 per share. Magnite has generated ($0.37) earnings per share over the last year. Potentially dilutive shares consist of stock options, restricted stock awards, restricted stock units, and potential shares issued under the Employee Stock Purchase Plan, each computed using the treasury stock method. Magnite Website Privacy Policy | Ad Choices & Opt-Out, Magnite Reports Fourth Quarter 2020 Results, Q4 2020 Earnings Conference Call Transcript, Magnite Reports Third Quarter 2020 Results, Q3 2020 Earnings Conference Call Transcript, Magnite Reports Second Quarter 2020 Results, Q2 2020 Earnings Conference Call Transcript, Q1 2020 The Rubicon Project Inc Earnings Conference Call, Rubicon Project Reports First Quarter 2020 Results, Q1 2020 Earnings Conference Call Transcript, Q4 2019 The Rubicon Project Inc Earnings Conference Call, Rubicon Project Reports Fourth Quarter 2019 Results, Q4 2019 Earnings Conference Call Transcript, Q3 2019 The Rubicon Project Inc Earnings Conference Call, Rubicon Project Reports Third Quarter 2019 Results, Q3 2019 Earnings Conference Call Transcript, Q2 2019 The Rubicon Project Inc Earnings Conference Call, Rubicon Project Reports Second Quarter 2019 Results, Q1 2019 The Rubicon Project Inc Earnings Conference Call, Rubicon Project Reports First Quarter 2019 Results, Q4 2018 The Rubicon Project Inc Earnings Conference Call, Rubicon Project Reports Fourth Quarter 2018 Results, Q3 2018 The Rubicon Project Inc Earnings Conference Call, Rubicon Project Reports Third Quarter 2018 Results, Q3 2018 Earnings Conference Call Transcript, Q2 2018 The Rubicon Project Inc Earnings Conference Call, Rubicon Project Reports Second Quarter 2018 Results, Q2 2018 Earnings Conference Call Transcript, Q1 2018 The Rubicon Project Inc Earnings Conference Call, Rubicon Project Reports First Quarter 2018 Results, Q1 2018 Financial Highlights Presentation, Q1 2018 Earnings Conference Call Transcript, Q4 2017 The Rubicon Project Inc Earnings Conference Call, Rubicon Project Reports Fourth Quarter and Full Year 2017 Results, Q4 2017 Financial Highlights Presentation, Q4 2017 Earnings Conference Call Transcript, Q3 2017 The Rubicon Project Inc Earnings Conference Call, Rubicon Project Reports Third Quarter 2017 Results, Q3 2017 Financial Highlights Presentation, Q3 2017 Earnings Conference Call Transcript, Q2 2017 Earnings Conference Call Transcript, Q2 2017 The Rubicon Project Inc Earnings Conference Call, Rubicon Project Reports Second Quarter 2017 Results, Q2 2017 Financial Highlights Presentation, Q1 2017 Financial Highlights Presentation, Rubicon Project Reports First Quarter 2017 Results, Q1 2017 The Rubicon Project Inc Earnings Conference Call, Q4 2016 The Rubicon Project Inc Earnings Conference Call, Rubicon Project Reports Fourth Quarter 2016 Results, Q4 2016 Financial Highlights Presentation, Q3 2016 Financial Highlights Presentation, Rubicon Project Reports Third Quarter 2016 Results, Q3 2016 Rubicon Project Earnings Conference Call, Q2 2016 Financial Highlights Presentation, Rubicon Project Reports Second Quarter 2016 Results, Q2 2016 Rubicon Project Earnings Conference Call, Q1 2016 Financial Highlights Presentation, Rubicon Project Reports First Quarter Results, Rubicon Project First Quarter 2016 Earnings Call, Rubicon Project Fourth Quarter 2015 Earnings Call, Rubicon Project Posts Record Fourth Quarter and Full Year 2015 Results; Rapid Growth Delivers Full Year Profitability, Q4 2015 Financial Highlights Presentation, Rubicon Project Announces Record Quarterly Results; Reports 80% Non-GAAP Net Revenue Growth Year-Over-Year, Rubicon Project Third Quarter 2015 Earnings Call, 10-Q Quarterly report which provides a continuing view of a company's financial position, Q3 2015 Financial Highlights Presentation, Call Transcript on Plan to Provide Incremental Metrics Disclosure for Q2 2015, Q2 2015 Financial Highlights Presentation, Rubicon Project Announces Second Quarter Earnings: Organic Growth and Strategic Acquisition Fuel Robust Year-Over-Year Revenue Growth, Rubicon Project Second Quarter 2015 Earnings Call, Rubicon Project Reports First Quarter Revenue Growth of 62% and Raises Full Year 2015 Guidance on Continued Strong Outlook, Q1 2015 Financial Highlights Presentation, Rubicon Project First Quarter 2015 Earnings Call, 10-K Annual report which provides a comprehensive overview of the company for the past year, Q4 2014 Financial Highlights Presentation, Rubicon Project Reports Record Fourth Quarter and Full Year 2014 Results, Rubicon Project Fourth Quarter 2014 Earnings Call, Rubicon Project Announces Record Financial Results, Rubicon Project Announces Record Second Quarter Financial Results, Rubicon Project Announces Record First Quarter Financial Results. Company Posts Adjusted EBITDA Margin of 37% in Quarter. Please see the discussion in the section called "Non-GAAP Financial Measures" and the reconciliations included at the end of this press release. Magnite (Nasdaq: MGNI), the largest independent sell-side advertising platform, will announce its financial results for the quarter ended December 31, … Welcome to Magnite's fourth-quarter 2020 earnings conference call. We believe non-GAAP earnings (loss) per share is useful to investors in evaluating our ongoing operational performance and our trends on a per share basis, and also facilitates comparison of our financial results on a per share basis with other companies, many of which present a similar non-GAAP measure. We also track future expenses on an Adjusted EBITDA basis, and describe them as Adjusted EBITDA operating expenses, which includes total operating expenses. Analysts expect Magnite, Inc. (NASDAQ:MGNI) to report ($0.01) earnings per share (EPS) for the current quarter, according to Zacks. Adjusted EBITDA should not be considered as an alternative to net income (loss), income (loss) from operations, or any other measure of financial performance calculated and presented in accordance with GAAP. Third quarter … Magnite MGNI is set to report fourth-quarter 2020 results on Feb 24.For the quarter, the Zacks Consensus Estimate for earnings has been moved up … Magnite (MGNI Quick Quote MGNI - Free Report) reported fourth-quarter 2020 adjusted earnings of 19 cents per share, beating the Zacks Consensus Estimate by … Magnite, Inc., the largest independent sell-side advertising platform, today reported its results of operations for the third quarter ended September 30, 2020. CTV Revenue Grew 12% Year over Year. In the first quarterly report following the merger (Q2 2020), Magnite showed a combined company revenue decline. RECONCILIATION OF GAAP INCOME (LOSS) PER SHARE TO NON-GAAP INCOME (LOSS) PER SHARE, Weighted-average shares used to compute basic net income (loss) per share, Dilutive effect of weighted-average common stock options, RSAs, RSUs, and PSUs, Non-GAAP weighted-average shares outstanding (3). This compares … (3) Non-GAAP income (loss) per share is computed using the same weighted-average number of shares that are used to compute GAAP net income (loss) per share in periods where there is both a non-GAAP loss and a GAAP net loss. Adjusted EBITDA operating expenses is calculated as revenue less Adjusted EBITDA. Charlstie Veith(516) 300-3569 Adjusted EBITDA provides a measure of consistency and comparability with our past performance that many investors find useful, facilitates period-to-period comparisons of operations, and also facilitates comparisons with other peer companies, many of which use similar non-GAAP financial measures to supplement their GAAP results. Revenue Growth Accelerating in Q3 - Most Significantly in CTV. Q1. Recent Highlights Revenue was $82.0 million for Q4 2020, up 69% from Q4 2019 on an as reported basis, and up 20% on a pro forma basis (1) (412) 902-6511 (for international callers), Ask to join the Rubicon Project conference call, http://investor.rubiconproject.com, under "Events and Presentations", (412) 317-0088 (for international callers). CTV Pro Forma Revenue Grows 53% Year over Year in Q4 2020, Company Posts Adjusted EBITDA Margin of 37% in Quarter. When comparisons are referred to as pro-forma, Telaria results in the prior year period in Q4 2019 and Q1 2020 are added in order to provide additional insights to business performance. Non-GAAP income (loss) includes the estimated tax impact from the expense items reconciling between net income (loss) and non-GAAP income (loss). CTV Revenue Grew 51% Year over Year, on a Pro-Forma Basis. CTV revenue for … Get it together Magnite - you're a public company! We’re Magnite (NASDAQ: MGNI), the world’s largest independent sell-side advertising platform. Q2 2020 Earnings Conference Call Transcript 104.8 KB. Risks that our business face include, but are not limited to, the following: we may not complete the acquisition of SpotX or realize the anticipated benefits of the SpotX Acquisition; our proposed financing of the SpotX Acquisition will significantly increase our leverage, which may put us at risk of defaulting on our debt obligations and limit our ability to conduct certain activities; the completion of the SpotX Acquisition will result in dilution to our stockholders; the severity, magnitude, and duration of the COVID-19 pandemic, including impacts of the pandemic and of responses to the pandemic by governments, business and individuals on our operations, personnel, buyers, sellers, and on the global economy and the advertising marketplace; our vulnerability to the depletion of cash resources as a result of impacts of the COVID-19 pandemic; our CTV spend may grow more slowly than we expect if industry growth rates for ad supported CTV are not accurate, if CTV sellers fail to adopt programmatic advertising solutions or if we are unable to maintain or increase access to CTV advertising inventory; we may not realize the anticipated benefits of the Merger; we may be unsuccessful in our Supply Path Optimization efforts; our ability to introduce new offerings and bring them to market in a timely manner, and otherwise adapt in response to client demands and industry trends; uncertainty of our estimates and expectations associated with new offerings; lack of adoption and market acceptance of our Demand Manager solution; our technology development efforts may be inefficient or ineffective, or not keep pace with competitors; we must increase the scale and efficiency of our technology infrastructure to support our growth; the emergence of header bidding has increased competition from other demand sources and may cause infrastructure strain and added costs; our access to mobile inventory may be limited by third-party technology or lack of direct relationships with mobile sellers; we may experience lower take rates, which may not be offset by increase in the volume of ad requests, improvements in fill-rate, and/or increases in the value of transactions through our platform; the impact of requests for discounts, fee concessions, rebates, refunds or favorable payment terms; our history of losses, and the fact that in the past our operating results have and may in the future fluctuate significantly, be difficult to predict, and fall below analysts' and investors' expectations; the effect on the advertising market and our business from difficult economic conditions or uncertainty; the effects of seasonal trends on our results of operations; we operate in an intensely competitive market that includes companies that have greater financial, technical and marketing resources than we do; the effects of consolidation in the ad tech industry; the growing percentage of online and mobile advertising spending captured by closed "walled gardens (such as Google, Facebook, Comcast, and Amazon); our ability to differentiate our offerings and compete effectively to combat commodification and disintermediation; potential limitations on our ability to collect or use data as a result of consumer tools, regulatory restrictions and technological limitations; the development and use of new identity solutions as a replacement for third-party cookies and other identifiers may disrupt the programmatic ecosystem and cause the performance of our platform to decline; the industry may not adopt or may be slow to adopt the use of first-party publisher segments as an alternative to third-party cookies; our ability to comply with, and the effect on our business of, evolving legal standards and regulations, particularly concerning data protection and privacy; our ability to comply with industry self-regulation; failure by us or our clients to meet advertising and inventory content standards could harm our brand and reputation and those of our partners; our ability to attract and retain buyers and sellers of digital advertising inventory, and increase our business with them; the freedom of buyers and sellers to direct their spending and inventory to competing sources of inventory and demand; the ability of buyers and sellers to establish direct relationships and integrations without the use of our platform; our reliance on large aggregators of advertising inventory, and the concentration of CTV among a small number of large sellers that enjoy significant negotiating leverage; our ability to provide value to both buyers and sellers of advertising without being perceived as favoring one over the other or being perceived as competing with them through our service offerings; our reliance on large sources of advertising demand, including demand side platforms ("DSPs") that may have or develop high-risk credit profiles or fail to pay invoices when due; we may be exposed to claims from clients for breach of contracts; errors or failures in the operation of our solution, interruptions in our access to network infrastructure or data, and breaches of our computer systems; our ability to ensure a high level of brand safety for our clients and to detect "bot" traffic and other fraudulent or malicious activity; our ability to access inventory with high viewability and completion rates; the use of our net operating losses and tax credit carryforwards may be subject to certain limitations; the possibility of adjustments to the purchase price allocation and valuation relating to the Merger; our ability to raise additional capital if needed; volatility in the price of our common stock; the impact of negative analyst or investor research reports; our ability to attract and retain qualified employees and key personnel; costs associated with enforcing our intellectual property rights or defending intellectual property infringement and other claims; failure to successfully execute our international growth plans; and our ability to identify future acquisitions of or investments in complementary companies or technologies and our ability to consummate the acquisitions and integrate such companies or technologies. View source version on businesswire.com: https://www.businesswire.com/news/home/20210224006051/en/, Investor Relations Contact Changes in operating assets and liabilities, net of effect of business acquisitions: Net cash (used in) provided by operating activities, Capitalized internal use software development costs, Maturities of available-for-sale securities, Net cash provided by (used in) investing activities, Proceeds from issuance of common stock under employee stock purchase plan, Taxes paid related to net share settlement, Net cash provided by (used in) financing activities, EFFECT OF EXCHANGE RATE CHANGES ON CASH, CASH EQUIVALENTS AND RESTRICTED CASH, CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH, CASH, CASH EQUIVALENTS AND RESTRICTED CASH — Beginning of period, CASH, CASH EQUIVALENTS AND RESTRICTED CASH — End of period, RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH TO CONSOLIDATED BALANCE SHEETS, Restricted cash included in other asset, non-current, Total cash, cash equivalents and restricted cash, CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS-(Continued). Magnite revenue was $42.3 million for Q2 2020, up 12% from Q2 2019 on an as reported basis CTV revenue for Q2 2020 was $7.9 million up 12% year over year on a pro-forma basis Adjusted EBITDA does not reflect cash and non-cash charges and changes in, or cash requirements for, acquisition and related items, such as certain transaction expenses and expenses associated with earn-out amounts. Because of these limitations, we also consider the comparable GAAP measure of net income (loss). Given these uncertainties, investors should not place undue reliance on these forward-looking statements. SUPPLEMENTAL DISCLOSURES OF OTHER CASH FLOW INFORMATION: Capitalized assets financed by accounts payable and accrued expenses, Operating lease right-of-use assets obtained in exchange for new operating lease liabilities, Common stock and options issued for Merger, RECONCILIATION OF NET INCOME (LOSS) TO ADJUSTED EBITDA, Depreciation and amortization expense, excluding amortization of acquired intangible assets, Non-operational real estate expense (income), net, Other non-operating (income) expense, net, RECONCILIATION OF NET INCOME (LOSS) TO NON-GAAP INCOME (LOSS), Acquisition and related items, including amortization of acquired intangibles. Magnite (NASDAQ: MGNI), the largest independent sell-side advertising platform, today reported its results of operations for the fourth quarter and year ended December 31, 2020. Following the closing of the pending acquisition of SpotX, CTV and OLV formats would represent two-thirds of our total company revenue, which would further improve our position in the fastest growing segments of the programmatic marketplace.”, Magnite Fourth Quarter 2020 Results Summary, (in millions, except per share amounts and percentages). Year over year comparisons on an as reported basis do not include the results of Telaria for Q4 2019. SpotX Adjusted EBITDA is a non-GAAP financial measure. Magnite revenue was $42.3 million for Q2 2020, up 12% from Q2 2019 on an as reported basis. Adjustments to reconcile net loss to net cash provided by (used in) operating activities: (Gain) loss on disposal of property and equipment, Accretion of available for sale securities. Then in Q3 2020, investors were again unimpressed with … However, a potential limitation of our use of non-GAAP earnings (loss) per share is that other companies may define non-GAAP earnings (loss) per share differently, which may make comparison difficult. Unless required by federal securities laws, we assume no obligation to update any of these forward-looking statements, or to update the reasons actual results could differ materially from those anticipated, to reflect circumstances or events that occur after the statements are made. Magnite (NASDAQ: MGNI), the largest independent sell-side advertising platform, today reported its results of operations for the fourth quarter and year ended December 31, 2020. Adjusted EBITDA margin is calculated as Adjusted EBITDA divided by revenue. These limitations include: Our Adjusted EBITDA is influenced by fluctuations in our revenue and the timing and amounts of our investments in our operations. Adjusted EBITDA does not reflect cash requirements for income taxes and the cash impact of other income or expense. Wall Street expects a year-over-year decline in earnings on lower revenues when Magnite (MGNI Quick Quote MGNI - Free Report) reports results for the quarter … Q1 2020 The Rubicon Project Inc Earnings Conference Call. (1) Represents revenue received by SpotX from related parties not expected to continue post acquisition. In periods in which we have non-GAAP income, non-GAAP weighted-average shares outstanding used to calculate non-GAAP earnings per share includes the impact of potentially dilutive shares.