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Jun 30, 2023
Magnite Q2 2023 Earnings Report
Reported solid results with revenue and contribution ex-TAC growing year-over-year.
Key Takeaways
Magnite reported Q2 2023 results with revenue of $152.5 million, up 11% year-over-year, and contribution ex-TAC of $134.7 million, up 9% year-over-year. The company's net loss was $73.9 million, or $0.54 per share, compared to a net loss of $25.0 million, or $0.19 per share in Q2 2022.
Revenue of $152.5 million, up 11% year-over-year
Contribution ex-TAC of $134.7 million, up 9% year-over-year
Contribution ex-TAC attributable to CTV of $56.1 million, up 8% year-over-year
Non-GAAP earnings per share of $0.09, compared to non-GAAP earnings per share of $0.14 for Q2 2022
Revenue by Segment
Forward Guidance
Magnite expects Contribution ex-TAC for Q3 2023 to be between $128 million and $132 million and Contribution ex-TAC attributable to CTV for Q3 2023 to be between $50 million and $52 million.
Positive Outlook
- Expect Contribution ex-TAC growth attributable to CTV for Q4 2023 to improve from Q3 guidance and to be much closer to flat year-over-year
- Expect Contribution ex-TAC growth for full-year 2023 to be in the mid-to-high single-digits
- Expect Adjusted EBITDA for full-year 2023 will be comparable to 2022
- Continue to expect total capital expenditures for 2023 will be less than $40 million
- Continue to expect free cash flow for the full-year 2023 to exceed $100 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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