secwatch.observer — SEC 8-K summary
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Issuer:     MAGNITE, INC. (MGNI)
CIK:        0001595974
Form:       8-K
Filed at:   2023-08-09T23:59:59+00:00
Accession:  0001595974-23-000029
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1595974/000159597423000029/0001595974-23-000029-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1595974/000159597423000029/mgni-20230809.htm
  HTML page:      https://secwatch.observer/filing/0001595974-23-000029

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer