Magnite Q2 2020 Earnings Report
Key Takeaways
Magnite reported Q2 2020 revenue of $42.3 million, a 12% increase year-over-year. CTV revenue grew by 12% to $7.9 million. The company anticipates revenue between $51 to $55 million for Q3 2020 and expects to be Adjusted EBITDA positive.
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.
CTV growth accelerated to approximately 50% year over year in Q3 since start of July on a pro-forma basis
Merger related cost synergies of more than $20 million run-rate on track
Magnite
Magnite
Magnite Revenue by Segment
Forward Guidance
Magnite expects revenue for Q3 2020 to be between $51 to $55 million and Adjusted EBITDA operating expenses to be between $49 to $50 million. The company expects to be Adjusted EBITDA positive for Q3 2020.
Revenue & Expenses
Visualization of income flow from segment revenue to net income