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Sep 30, 2020
Magnite Q3 2020 Earnings Report
Magnite's Q3 2020 results were reported, demonstrating growth across all formats and a 51% year-over-year increase in CTV revenue on a pro-forma basis.
Key Takeaways
Magnite reported a strong third quarter with revenue growth of 62% year-over-year and 12% on a pro-forma basis. CTV revenue increased by 51% year-over-year on a pro-forma basis. The company anticipates continued growth in Q4, with revenue expected to be between $72 million and $75 million.
Total revenue was $61.0 million, up 62% year-over-year and 12% on a pro-forma basis.
CTV revenue reached $11.1 million, a 51% increase year-over-year on a pro-forma basis.
The company anticipates revenue between $72 million and $75 million for Q4 2020.
Adjusted EBITDA was $13.7 million, compared to $6.1 million for Q3 of 2019.
Magnite
Magnite
Forward Guidance
Magnite expects revenue for Q4 2020 to be between $72 million to $75 million and Adjusted EBITDA margin to be approximately 30%. Adjusted EBITDA operating expenses are expected to be between $50 million to $52 million.
Positive Outlook
- Expect strong CTV growth in Q4 2020