MAGNITE, INC.

Listed Company

MGNICIK 0001595974NasdaqLarge AcceleratedServices-Computer Programming, Data Processing, Etc.DelawareFY ends Dec 31

Period

FY 2025

Revenue

$713.95M

Net Income

$144.61M

Total Assets

$3.16B

Equity

$922.35M

Shares Out

144.36M

Op. Cash Flow

$236.17M

Business

MAGNITE, INC. provides technology solutions that automate the purchase and sale of digital advertising inventory through an independent programmatic marketplace. It offers an omni-channel sell-side platform, a streaming SSP and ad server, SpringServe ad server features, identity and audience solutions, buyer tools such as ClearLine, supply path optimization and analytics, and self-service and managed service offerings. Its key operating divisions include Magnite Streaming, DV+ (desktop and mobile), SpringServe and buyer-facing marketplace products. The company operates globally with established presence in North America, Europe and Australia and serves CTV, mobile and desktop channels to buyers and sellers worldwide.

Summary from filing dated 2025-02-26

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue	714	668	620	577	468
Cost of revenue	267	259	410	307	202
Sales and marketing	172	166	174	200	170
Technology and development	85	95	94	94	74
General and administrative	93	97	89	81	65
Merger, acquisition, and restructuring costs	200,000	0	8	7	38
Total expenses	616	617	775	690	549
Income (loss) from operations	98	51	−155	−113	−81
Interest expense, net	19	27	32	29	—
Foreign exchange (gain) loss, net	7	−5	2	−1	−1
(Gain) loss on extinguishment of debt	2	8	−27	0	0
Other income	−1	−5	−5	−5	−4
Total other expense, net	27	25	3	23	14
Income (loss) before income taxes	71	26	−158	−136	−95
Provision (benefit) for income taxes	−74	4	2	−5	−95
Net income (loss)	145	23	−159	−130	65,000
Basic (in USD per share)	1.01	0.16	−1.17	−0.98	0
Diluted (in USD per share)	0.95	0.16	−1.17	−0.98	0
Basic (in shares)	143	141	137	133	126
Diluted (in shares)	154	147	137	133	136

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	553	483	326	326	230
Accounts receivable, net	1,302	1,200	1,176	977	928
Prepaid expenses and other current assets	26	20	21	24	20
TOTAL CURRENT ASSETS	1,882	1,703	1,523	1,326	1,178
Property and equipment, net	109	69	47	—	—
Right-of-use lease assets	67	50	61	78	77
Internal use software development costs, net	29	27	22	24	20
Intangible assets, net	12	21	51	254	427
Goodwill	984	978	978	978	970
Other assets, non-current	82	6	7	7	7
TOTAL ASSETS	3,164	2,855	2,689	2,712	2,713
Accounts payable and accrued expenses	1,608	1,466	1,372	1,094	1,001
Lease liabilities, current	20	16	20	—	—
Debt, current, net of debt issuance costs	208	4	4	4	4
Other current liabilities	5	10	6	6	6
TOTAL CURRENT LIABILITIES	1,842	1,496	1,402	1,125	1,029
Debt, non-current, net of debt discount and issuance costs	348	550	533	723	720
Lease liabilities, non-current	50	39	50	—	—
Other liabilities, non-current	3	1	2	2	3
TOTAL LIABILITIES	2,242	2,087	1,987	1,921	1,832
Commitments and contingencies (Note 13)	—	—	—	—	—
Preferred stock, $0.00001 par value, 10,000 shares authorized at December 31, 2025 and December 31, 2024; 0 shares issued and outstanding at December 31, 2025 and December 31, 2024	0	0	0	0	0
Common stock, $0.00001 par value; 500,000 shares authorized at December 31, 2025 and December 31, 2024; 142,964 and 141,427 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively	2,000	2,000	2,000	2,000	2,000
Additional paid-in capital	1,440	1,434	1,388	1,319	1,283
Accumulated other comprehensive loss	−1	−4	−2	−3	−1
Accumulated deficit	−517	−661	−684	−525	−394
TOTAL STOCKHOLDERS' EQUITY	922	768	702	791	881
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	3,164	2,855	2,689	2,712	2,713

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	54	59	241	216	147
Stock-based compensation	77	77	73	64	41
Provision for doubtful accounts	1	587,000	5	−163,000	0
Amortization of debt discount and issuance costs	4	4	6	7	5
Non-cash lease expense	−1	−5	−2	1	−350,000
Deferred income taxes	−78	95,000	−2	−9	−99
Unrealized foreign currency (gain) loss, net	6	−7	1	−271,000	−2
Other items, net	124,000	23,000	3	−86,000	3
Accounts receivable	−104	−26	−220	−46	−254
Prepaid expenses and other assets	−6	2	1	−4	1
Accounts payable and accrued expenses	143	97	295	91	285
Other liabilities	−4	3	−112,000	−389,000	25,000
Net cash provided by operating activities	236	235	214	193	127
Purchases of property and equipment	−71	−33	−27	−31	−18
Capitalized internal use software development costs	−14	−14	−11	−14	−11
Mergers and acquisitions, net of indemnification claims holdback	−8	0	0	−21	−662
Other investing activities	−362,000	−432,000	0	0	—
Net cash used in investing activities	−93	−48	−37	−65	−691
Proceeds from the term loan facility refinancing and repricing activities, net of debt discount	93	413	0	0	—
Repayment of the term loan facility from refinancing and repricing activities	−93	−403	0	0	—
Payment for debt issuance costs	−159,000	−5	0	0	−30
Repurchase of Convertible Senior Notes	0	0	−166	0	0
Proceeds from exercise of stock options	3	572,000	2	2	9
Proceeds from issuance of common stock under employee stock purchase plan	4	4	4	4	4
Taxes paid related to net share settlement	−33	−22	−12	−14	−6
Purchase of treasury stock	−46	−15	0	−16	−6
Repayment of finance leases	0	0	−276,000	−807,000	−645,000
Payment of indemnification claims holdback	0	0	−2	−2	0
Net cash used in financing activities	−75	−29	−178	−30	678
EFFECT OF EXCHANGE RATE CHANGES ON CASH, AND CASH EQUIVALENTS	2	−2	575,000	−1	−683,000
CHANGE IN CASH AND CASH EQUIVALENTS	70	157	−283,000	96	113
Cash paid for income taxes	4	4	5	5	2
Cash paid for interest	28	37	37	26	13
Capitalized assets financed by accounts payable and accrued expenses and other liabilities	438,000	7	2	1	2
Capitalized stock-based compensation	2	2	2	3	1
Operating lease right-of-use assets obtained in exchange for operating lease liabilities	38	14	4	20	42
Operating lease right-of-use assets reduction and corresponding non-cash adjustment to operating lease liabilities	2	5	0	0	—
Purchase consideration - indemnification claims holdback	2	0	0	2	2
Non-cash financing activity related to Amendment Nos. 1 and 2 to the 2024 Credit Agreement	271	312	0	0	—

Filings

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