MNTN reports record Q4 revenue $87.1M (+36% YoY), net income $34.5M vs loss year ago

MNTN, Inc.

2025-FY EPS reported -$0.13 revenue$290,093,000

Q4 revenue (adj. for Maximum Effort divestiture) $87.1M, +36% YoY; GAAP revenue +25%.
Q4 net income $34.5M vs net loss $4.0M in Q4 2024; Adjusted EBITDA $28.1M (32% margin).
FY 2025 adj. revenue $284.7M (+36% YoY); gross margin 77% (+560 bps); net loss $6.4M incl. $23M IPO charge.
Cash and equivalents $210M, no borrowings; active PTV customers grew 63% YoY to 3,632.
Q1 2026 revenue guidance $71.3-73.3M (+22.3% adj. YoY at midpoint); FY 2026 revenue guided $345-355M.

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