Magnite Inc Stock Price, News & Analysis

Magnite (Nasdaq: MGNI) has announced its participation in two upcoming financial conferences. Management will present at the 17th Annual Needham Technology & Media Conference in New York City on May 17 at 9:30 a.m. ET, with a live webcast available on the investor relations website. Additionally, virtual meetings are scheduled for the 19th Annual Craig-Hallum Institutional Investor Conference on June 1. Magnite operates as the largest independent sell-side advertising platform globally, connecting publishers and brands across multiple formats.

Magnite reported a significant Q1 2022 performance with total revenue reaching $118.1 million, a 94% increase from Q1 2021. Revenue excluding TAC was $107.1 million, up 79%. CTV revenue alone surged 253% to $42.3 million. Adjusted EBITDA grew 208% to $28.8 million, reflecting a 27% margin. Despite a net loss of $44.6 million, the company anticipates continued revenue growth, projecting Q2 revenue ex-TAC between $123 million and $127 million.

Magnite (NASDAQ: MGNI), the largest independent sell-side advertising platform, has launched Deal Discovery, a self-service tool aimed at enhancing the creation of Private Marketplace (PMP) and Auction Package deals. This platform allows buyers to curate inventory across various formats such as video, display, mobile, and audio. Deal Discovery facilitates quicker PMP requests and better collaboration between publishers and buyers. It also provides real-time control over pricing and inventory, increasing visibility and addressing buyer needs effectively.

Magnite (Nasdaq: MGNI), the largest independent sell-side advertising platform, will release its financial results for Q1 2022 on May 4, 2022, after market close. A conference call is scheduled for the same day at 1:30 PM PT / 4:30 PM ET to discuss these results and provide insights on the company’s outlook. Magnite enables publishers to monetize content across screens and formats, trusted by leading agencies for executing billions of ad transactions monthly.

SpringServe announced a strategic integration with FFalcon to enhance ad serving for TCL smart TVs, streamlining monetization and improving campaign performance. SpringServe’s platform allows for both direct-sold and programmatic campaigns, offering features like native tile ads to engage viewers even before they launch a streaming app. This collaboration is expected to expand inventory options for content creators and advertisers, enhancing user experience across over 160 countries.

Magnite (NASDAQ: MGNI) has announced the appointment of two new members to its Board of Directors: Diane Yu and Dave Pearson. Diane, former CTO of Freewheel and current CTO at Better.com, brings extensive experience in engineering leadership. Dave, former CFO of Vonage and an investment banking veteran, will also serve on the Audit Committee. Their expertise is expected to enhance Magnite's growth strategy for 2022 and beyond, leveraging their backgrounds in digital advertising technology and financial markets.

Magnite (NASDAQ: MGNI) has launched a new solution called Prebid Page Integration (PPI), designed to facilitate the integration of Prebid.js with publisher websites. This framework simplifies the process, requiring fewer engineering resources, and allows publishers of all sizes to deploy and optimize their own header bidding solutions. By open sourcing PPI, Magnite aims to democratize online advertising and empower publishers with better control over their monetization efforts. The initiative is part of Magnite's ongoing commitment to enhance its Demand Manager features.

Magnite (NASDAQ: MGNI) has been named a preferred supply-side platform by Plex, following significant year-over-year growth in revenue and user engagement across both platforms. Plex is enhancing its ad-supported streaming offerings, focusing on the growing cord-cutting market. Magnite's technology helps Plex maintain transparency and quality in ad experiences, while SpringServe enhances ad serving capabilities. The collaboration is expected to bolster Plex’s growth in the ad-supported streaming sector, with over 200 channels and 50,000 titles available.

SpringServe has launched BidLink, enhancing programmatic ad integration for video publishers. This solution allows for seamless communication between a publisher's primary ad server and over 22 integrated SSPs, optimizing competition between direct and programmatic advertising campaigns. BidLink aids in decision-making by delivering dynamic demand insights, such as price and ad category data. Publishers can utilize live reporting to quickly adapt strategies and maximize revenue. This innovation is designed to boost yield through real-time auctions, providing improved transparency and control over ad placements.