Magnite Q2 revenue up 11% to $152.5M, but net loss widens to $73.9M; guides Q3 contribution ex-TAC $128-132M

MAGNITE, INC.

2023-Q2 EPS reported -$1.27 revenue$282,693,000

Revenue $152.5M (+11% YoY); Contribution ex-TAC $134.7M (+9% YoY).
Net loss $73.9M ($0.54 loss per share), compared to $25.0M loss ($0.19) in Q2 2022.
Adjusted EBITDA $37.3M (28% margin), down from $41.3M; includes $4.5M bad debt from buyer bankruptcy.
Repurchased $40.2M of convertible notes; over $90M or 23% retired to date.
Q3 guidance: Contribution ex-TAC $128-132M; CTV $50-52M; FY free cash flow expected >$100M.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

MAGNITE, INC. reported its fiscal quarter ended June 30, 2023 results: revenue $152.5 million, net income ($73.9 million), EPS ($0.54) per diluted share.

Period: its fiscal quarter ended June 30, 2023
Revenue: $152.5 million
Net income: ($73.9 million)
EPS: ($0.54) per diluted share
Result: reported results

Exact text from the filing

the world's largest independent sell-side advertising company, today reported its results of operations for the quarter ended June 30, 2023. Q2 2023 Highlights: • Revenue of $152.5 million, up 11% year-over-year • Contribution ex-TAC (1) of $134.7 million, up 9% year-over-year • Contribution ex-TAC (1) attributable to CTV of $56.1 million, up 8% year-over-year •

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Source: SEC EDGAR

accession 0001595974-23-000029

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