Welcome to our dedicated page for Magnite news (Ticker: MGNI), a resource for investors and traders seeking the latest updates and insights on Magnite stock.
Magnite, Inc. (NASDAQ: MGNI) is described as the world’s largest independent sell-side advertising company, and its news flow reflects its role in the global ad tech ecosystem. Publishers use Magnite’s technology to monetize content across connected TV, online video, display, and audio, while agencies and brands rely on its platform to access brand-safe, high-quality inventory and execute billions of advertising transactions.
On this page, readers can follow news about Magnite’s product developments, partnerships, financial updates, and legal matters. Recent announcements highlight the evolution of its ClearLine platform to unify curation and activation across premium omnichannel supply, as well as integrations with partners such as Cognitiv to bring deep learning and real-time curation into media buying workflows.
Magnite’s news also covers collaborations that expand programmatic access to new environments, such as cloud gaming on Smart TVs through its partnership with PHȲND and programmatic access to local linear TV inventory through a private marketplace with ITN. In addition, Magnite regularly issues press releases about quarterly financial results, conference participation, and initiatives like Magnite Access being adopted by publisher groups.
Investors, advertisers, and publishers can use this news feed to track how Magnite is positioning its sell-side technology, how it engages with partners across regions such as North America, EMEA, LATAM, and APAC, and how it responds to competitive and regulatory developments, including its disclosed litigation against Google LLC. Bookmark this page to review the latest company-issued updates and market-facing announcements related to MGNI.
Magnite (NASDAQ: MGNI), a leading independent sell-side advertising company, reported its Q3 2024 results. Key highlights include:
Revenue: $162.0 million, up 8% year-over-year.
Contribution ex-TAC: $149.4 million, up 12% year-over-year.
CTV Contribution ex-TAC: $64.4 million, up 23% year-over-year.
DV+ Contribution ex-TAC: $85.0 million, up 5% year-over-year.
Net Income: $5.2 million, for EPS of $0.04, compared to a net loss of $17.5 million in Q3 2023.
Adjusted EBITDA: $50.6 million with a 34% margin, up from $40.3 million (30% margin) in Q3 2023.
Non-GAAP EPS: $0.17, up from $0.12 in Q3 2023.
Operating Cash Flow: $40.2 million.
Expectations for Q4 2024 include:
Total Contribution ex-TAC: $182-$186 million.
CTV Contribution ex-TAC: $75-$77 million.
DV+ Contribution ex-TAC: $107-$109 million.
Adjusted EBITDA Operating Expenses: $102-$104 million.
For full-year 2024, the company raised its guidance for Contribution ex-TAC growth to 11%-12%, Adjusted EBITDA margin expansion to 150-200 basis points, and free cash flow growth to approximately 20%.
Magnite (NASDAQ: MGNI), the largest independent sell-side advertising company, achieved the highest score in the current offering category among ten vendors evaluated in The Forrester Wave™: Sell-Side Platforms Q4 2024 report. The company received Forrester's highest possible rating in 18 criteria, including Innovation, Desktop & Mobile Display, and Inventory Quality. The report highlighted Magnite's strength in streaming channels, demand facilitation expertise, and technical competence in supporting monetization across online video, audio, mobile app, and complex media. Magnite was the only vendor to receive perfect scores in User Interface and Supporting Services categories.
Magnite (Nasdaq: MGNI), the largest independent sell-side advertising company, has announced its executive team's participation in multiple financial conferences throughout November and December 2024. The schedule includes virtual events with Truist Securities and Seaport, as well as in-person conferences in New York City, Sydney, Rancho Palos Verdes, and San Francisco. Notable appearances include fireside chats at the RBC Capital Markets conference (2:00 p.m. ET) and Wells Fargo TMT Summit (8:45 a.m. PT). Live webcasts of these fireside chats will be available on Magnite's investor relations website, with replays accessible for 90 days.
Disney and Magnite have announced a two-year deal extension, continuing their partnership into its sixth year. Magnite remains Disney's preferred supply-side technology partner, facilitating transactions for 30+ DSPs across Disney's ad-supported inventory. The expanded relationship includes new initiatives such as monetizing College Football live streams on ESPN, supporting LATAM expansion in six countries, and offering podcast inventory via PMPs. Disney emphasizes the importance of automation and executional ease, with Magnite playing a important role in connecting buyers to Disney's inventory through their ClearLine offering.
Magnite (Nasdaq: MGNI), the world's largest independent sell-side advertising company, has announced it will release its financial results for the third quarter ended September 30, 2024 after market close on Thursday, November 7, 2024. The company will host a conference call at 1:30 PM (PT) / 4:30 PM (ET) on the same day to discuss the results and outlook.
For those interested in participating, the following options are available:
- Toll-free number (domestic): (844) 875-6911
- Direct dial (international): (412) 902-6511
- Passcode: Ask to join the Magnite conference call
- Audio webcast: http://investor.magnite.com, under 'Events and Presentations'
A conference call replay will also be available with the passcode 9464892.
Magnite (NASDAQ: MGNI), the world's largest independent sell-side advertising company, has successfully repriced its $364 million senior secured term loan facility. The repricing reduces the interest rate by 75 basis points to Term SOFR + 3.75% from the previous rate of Term SOFR + 4.5%. This represents a cumulative reduction of 125 basis points compared to the rate prior to the February refinancing. The Term Loan's maturity remains unchanged at February 2031, and all other terms are substantially the same. This repricing is expected to result in over $2.7 million in yearly interest payment savings for Magnite. The company's convertible notes due March 2026 and undrawn revolving credit facility maturing in February 2029 are unaffected by this repricing.
Magnite (NASDAQ:MGNI), the largest independent sell-side advertising company, has announced a partnership with TF1 PUB, France's leading video advertising network. This collaboration aims to streamline access to TF1's programmatic demand and support the broadcaster's digital acceleration. TF1+, the leading free French streaming platform with 35 million monthly streamers, will leverage Magnite's technology to optimize programmatic advertising while maintaining viewer experience integrity.
Magnite will integrate into TF1 PUB's existing advertising stack, utilizing its Magnite Streaming platform and international agency relationships to unlock demand. This partnership is expected to strengthen TF1's position in the French streaming market and support its growth in streaming and CTV (Connected TV) advertising.
Blitz, a leading gaming analytics platform, has chosen Magnite (NASDAQ: MGNI) as its preferred SSP to streamline its programmatic advertising strategy. This decision follows a successful partnership that saw Blitz's gross revenue grow triple-digit percent on Magnite's DV+ SSP in the first half of 2024. By centralizing all programmatic deals through Magnite, Blitz aims to provide advertisers with more efficient access to its diverse audience across multiple countries.
Blitz offers real-time insights and improvement tools for popular games like Fortnite, League of Legends, and Valorant. The platform serves millions of engaged gamers worldwide and is recognized as the top source of diverse-owned media according to Jounce Media's analysis. This collaboration allows Blitz to focus on core product development while leveraging Magnite's expertise in advertising monetization.
Magnite (Nasdaq: MGNI), the largest independent sell-side advertising company, has announced its participation in several upcoming financial conferences. The executive team will host in-person investor meetings at five events in New York City and one in San Francisco throughout September 2024.
Key events include:
- BofA Securities 2024 Media, Communications and Entertainment Conference (Sept. 4)
- Benchmark 2024 Tech, Media & Telecom Conference (Sept. 5)
- Citi 2024 Global TMT Conference (Sept. 6)
- Wolfe Research TMT Conference 2024 in San Francisco (Sept. 10)
- B. Riley 7th Annual Consumer & TMT Conference (Sept. 12)
- Lake Street 8th Annual Best Ideas Growth Conference (Sept. 12)
A live webcast of the BofA Securities fireside chat will be available on Magnite's investor relations website, with a replay accessible for 90 days after the event.
TargetSmart, a leading provider of political data for Democratic campaigns, has announced an exclusive partnership with Magnite (NASDAQ: MGNI), the largest independent sell-side advertising company. This collaboration, supported by Magnite's integration with Snowflake AI Data Cloud for Media, allows Democratic campaigns, agencies, and causes to activate campaigns using TargetSmart data across Magnite's extensive CTV footprint on any demand side platform.
Magnite, which ranks #1 in supply coverage according to Jounce Media, provides access to over 90% of programmatic supply in the US and reaches 92 million US ad-supported streaming TV households. With CTV ad spending forecasted to collect 14% of the total $10.7 billion ad spend this year, this partnership aims to provide a streamlined way for political buyers to execute and optimize their campaigns, potentially resulting in higher match rates and faster deal setups.