Magnite Q3 2021 Earnings Report
Key Takeaways
Magnite reported Q3 2021 financial results, which represent the combined performance of Magnite, SpotX, and SpringServe. Revenue ex-TAC attributable to CTV was $43.1 million, up 290% year over year, and up 51% on a pro forma basis. The company expects solid growth in Q4, even with some pockets of sector weakness in the broader economy.
Revenue of $131.9 million for Q3 2021, up 116% from Q3 2020.
Revenue ex-TAC of $114.1 million for Q3 2021, up 89% from Q3 2020 and up 26% on a pro-forma basis.
Revenue ex-TAC attributable to CTV of $43.1 million for Q3 2021, up 290% year over year, and up 51% on a pro forma basis.
Non-GAAP earnings per share of $0.14 for Q3 2021, compared to non-GAAP earnings per share of $0.06 for Q3 of 2020.
Magnite
Magnite
Magnite Revenue by Segment
Forward Guidance
The company expects solid growth in Q4, even with some pockets of sector weakness in the broader economy.
Positive Outlook
- Revenue ex-TAC for Q4 2021 to be between $138 million and $142 million
- Revenue ex-TAC attributable to CTV for Q4 2021 to be between $52 million and $56 million
Challenges Ahead
- Adjusted EBITDA operating expenses to be between $79 and $81 million for Q4 2021
- Total capital expenditures for Q4 2021 to be approximately $8 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income