The earnings call presented a robust performance for Q2 2025, with significant growth in revenue, EBITDA, and key segments like CTV and DV+. The introduction of new partnerships and technology advancements further bolstered Magnite's market position. However, challenges such as tariff pressures and macroeconomic uncertainties were acknowledged. Overall, the highlights significantly outweigh the lowlights, pointing to a positive outlook.

Company Guidance

In the Magnite Q2 2025 earnings call, the company reported exceeding its total top-line guidance with CTV contribution ex-TAC growing by 14% and DV+ by 8%. Adjusted EBITDA was $54 million, marking a 22% increase with a margin of 34%, up from 30% in the same quarter last year. Total revenue reached $173 million, up 6% from the previous year, with contribution ex-TAC at $162 million, a 10% increase. CTV contribution ex-TAC was $72 million, while DV+ was $90 million. Magnite's operating expenses decreased slightly to $151 million, contributing to net income of $11 million, compared to a net loss of $1 million in Q2 2024. They also reported strong cash reserves of $426 million, with net leverage stable at 0.6x. The company anticipates continued growth, especially in CTV and DV+ segments, and is optimistic about the potential market share shift resulting from the antitrust ruling against Google.

Strong Revenue and EBITDA Growth

Q2 total revenue was $173 million, up 6% from Q2 2024. Contribution ex-TAC was $162 million, up 10%, exceeding the high end of guidance. Adjusted EBITDA grew 22% to $54 million, with a margin of 34%.

CTV and DV+ Growth

CTV contribution ex-TAC grew 14% year-over-year, reaching $72 million. DV+ contribution ex-TAC increased 8%, driven by new product functionality and early contributions from new partners.

New Partnerships and Expansions

Magnite deepened relationships with major streamers like Roku, Netflix, and Warner Bros. Discovery. New SMB-focused DSP partnerships and a growing relationship with Amazon were highlighted.

AI and Technology Advancements

Expanded AI capabilities, including AI-powered audience discovery and LLM for contextual segmentation. Enhanced CTV platform and continued cost efficiencies in cloud and on-premises infrastructure.

Positive Antitrust Ruling Against Google

Court ruling against Google's monopolistic practices expected to drive a fairer market, potentially increasing DV+ market share for Magnite.

Magnite (MGNI) Earnings, Revenues Date & History

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MGNI Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 05, 2025	2025 (Q3)	0.20 / -	0.17	―	―	―
Aug 06, 2025	2025 (Q2)	0.17 / 0.20	0.14	42.86% (+0.06)
May 07, 2025	2025 (Q1)	0.07 / 0.12	0.05	140.00% (+0.07)
Feb 26, 2025	2024 (Q4)	0.36 / 0.34	0.29	17.24% (+0.05)
Nov 07, 2024	2024 (Q3)	0.16 / 0.17	0.12	41.67% (+0.05)
Aug 07, 2024	2024 (Q2)	0.15 / 0.14	0.09	55.56% (+0.05)
May 08, 2024	2024 (Q1)	0.00 / 0.05	0.04	25.00% (+0.01)
Feb 28, 2024	2023 (Q4)	0.28 / 0.29	0.24	20.83% (+0.05)
Nov 08, 2023	2023 (Q3)	0.12 / 0.12	0.18	-33.33% (-0.06)
Aug 09, 2023	2023 (Q2)	0.07 / 0.09	0.14	-35.71% (-0.05)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

MGNI Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 06, 2025	$22.48	$21.75	-3.25%
May 07, 2025	$12.43	$14.89	+19.79%
Feb 26, 2025	$16.86	$16.55	-1.84%
Nov 07, 2024	$13.49	$13.61	+0.89%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.