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Dec 31, 2022
Magnite Q4 2022 Earnings Report
Reported record Q4 and full-year 2022 results, with total revenue up 9% and CTV revenue ex-TAC growing 20%.
Key Takeaways
Magnite reported a strong fourth quarter with total revenue of $175.4 million, up 9% year-over-year, and CTV revenue ex-TAC of $64.6 million, up 20% year-over-year. The company's adjusted EBITDA margin was 41%.
Revenue of $175.4 million for Q4 2022, up 9% from Q4 2021
Revenue ex-TAC of $156.6 million for Q4 2022, up 10% from Q4 2021
Revenue ex-TAC attributable to CTV for Q4 2022 was $64.6 million, up 20% year-over-year
Adjusted EBITDA of $64.2 million in Q4 2022 representing a 41% Adjusted EBITDA margin
Forward Guidance
Magnite expects revenue ex-TAC for Q1 2023 to be between $109 and $113 million and revenue ex-TAC attributable to CTV for Q1 2023 to be between $42.5 and $44.5 million. They anticipate adjusted EBITDA in 2023 to be approximately the same as 2022 and adjusted EBITDA margin to improve meaningfully in the back half of 2023.
Positive Outlook
- Revenue ex-TAC for Q1 2023 to be between $109 and $113 million
- Revenue ex-TAC attributable to CTV for Q1 2023 to be between $42.5 and $44.5 million
- Revenue ex-TAC for full-year 2023 to grow versus 2022
- Adjusted EBITDA in 2023 to be approximately the same as 2022
- Adjusted EBITDA margin to improve meaningfully in the back half of 2023, following CTV platform consolidation
Historical Earnings Impact
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Avg. Return Before/After Earnings
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