Magnite Q2 2021 Earnings Report
Key Takeaways
Magnite reported Q2 2021 results, which include two months of SpotX's performance. Revenue reached $114.5 million, up 170% year-over-year, and net income was $36.8 million, a significant improvement from the previous year's net loss. The company also provided expectations for Q3 2021.
Revenue of $114.5 million for Q2 2021, up 170% from Q2 2020.
Revenue ex-TAC of $100.4 million for Q2 2021, up 139% from Q2 2020 and up 79% on a pro-forma basis.
Net income of $36.8 million in Q2 2021, for diluted earnings per share of $0.26, compared to net loss of $39.1 million, for a loss per share of $0.36 in Q2 of 2020.
Adjusted EBITDA of $31.8 million in Q2 2021 representing a margin of 32%, as compared to Adjusted EBITDA loss of $3.5 million in Q2 of 2020.
Magnite
Magnite
Magnite Revenue by Segment
Forward Guidance
Magnite expects Revenue ex-TAC for Q3 2021 to be between $112 million and $116 million and Revenue ex-TAC attributable to CTV for Q3 2021 to be between $41 million and $45 million, representing growth of approximately 50% year over year on a pro forma basis. Adjusted EBITDA operating expenses to be between $77 and $79 million for Q3 2021. Total capital expenditures for the second half of 2021 to be approximately $16 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income