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MNTN, Inc Class A (MNTN)
NYSE:MNTN
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MNTN, Inc Class A
(NYSE:MNTN)
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Rating:46Neutral
Price Target:
$13.50
▲(12.03% Upside)
MNTN's overall stock score is primarily impacted by its financial instability, with strong revenue growth overshadowed by profitability challenges and a weak balance sheet. Technical analysis and valuation further weigh down the score due to bearish momentum and negative profitability metrics. The positive sentiment from the earnings call provides some support, highlighting improvements in revenue and margins.
Positive Factors
Revenue Growth
Consistent revenue growth indicates strong market demand and effective business strategies, supporting long-term financial stability.
Gross Margin Improvement
Improved gross margins suggest efficient cost management and enhanced profitability potential, strengthening the company's competitive position.
Customer Base Expansion
A rapidly expanding customer base demonstrates successful market penetration and potential for sustained revenue growth.
Negative Factors
Profitability Challenges
Ongoing profitability challenges may hinder long-term financial health and limit reinvestment opportunities for growth.
Weak Balance Sheet
A weak balance sheet with negative equity can restrict financial flexibility and increase vulnerability to economic downturns.
Rising Operating Expenses
Increasing operating expenses could pressure margins and profitability, challenging the company's ability to sustain growth.
MNTN, Inc Class A (MNTN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$885.27M
Dividend YieldN/A
Average Volume (3M)482.14K
Price to Earnings (P/E)―
Beta (1Y)1.57
Revenue Growth31.28%
EPS Growth-22.05%
CountryUS
Employees499
SectorTechnology
Sector Strength88
IndustryAdvertising Agencies
Share Statistics
EPS (TTM)0.08
Shares Outstanding44,231,895
10 Day Avg. Volume462,278
30 Day Avg. Volume482,142
Financial Highlights & Ratios
PEG Ratio1.64
Price to Book (P/B)-18.85
Price to Sales (P/S)8.99
P/FCF Ratio62.23
Enterprise Value/Market Cap1.33
Enterprise Value/Revenue4.32
Enterprise Value/Gross Profit5.72
Enterprise Value/Ebitda311.40
Forecast
1Y Price Target
$26.42Price Target Upside119.23% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering6
EPS Forecast (FY)0.91
Revenue Forecast (FY)$346.79M
MNTN, Inc Class A Business Overview & Revenue Model
Company DescriptionMNTN, Inc., a performance TV software company, provides performance advertising services in the United States. The company offers Performance TV software platform, enables marketers to target audiences through MNTN Matched technology and then directly attribute each view to a purchase or other action. Its platform provides segmentation tools, intelligent campaign planning, advance audience targeting, prospecting, creative ad builder, and data analytics reporting. MNTN, Inc. was formerly known as Steel House, Inc. and changed its name to MNTN, Inc. in June 2021. The company was incorporated in 2009 and is headquartered in Austin, Texas.
How the Company Makes MoneyMNTN generates revenue primarily through its advertising services, where clients pay for access to its programmatic advertising platform and related solutions. The company's revenue model is built on a combination of subscription fees, usage-based billing, and performance-based pricing structures. Key revenue streams include fees from advertisers who utilize the platform to run campaigns, as well as additional revenue from analytics and reporting services that help clients measure the effectiveness of their advertising efforts. Significant partnerships with major digital platforms and data providers also enhance MNTN's capabilities, allowing the company to offer comprehensive solutions that attract a wide range of clients across various industries.
MNTN, Inc Class A Earnings Call Summary
Earnings Call Date:Nov 04, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Aug 11, 2026
Earnings Call Sentiment Positive
The earnings call reflects a positive sentiment with strong revenue growth, improved margins, and efficient operations. However, there are challenges related to dependence on small and medium-sized businesses and the impact of the Maximum Effort divestiture.Q3-2025 Updates
Positive Updates
Strong Revenue Growth
Third quarter revenue increased to $70 million, up 31% year-over-year after adjusting for the divestiture of Maximum Effort.
Gross Margin Improvement
Gross margin for Q3 increased to 79% compared to 72% in Q3 of 2024, an increase of 720 basis points.
First Quarter of GAAP Profitability
Achieved positive net income of $6.4 million for a GAAP EPS of $0.09 a share, marking the company's first quarter of GAAP profitability in the last 4 years.
Adjusted EBITDA Growth
Adjusted EBITDA was $16 million, up from $10.5 million in Q3 of '24, an increase of 52.9%.
Customer Base Expansion
Active PTV customers grew by 67% year-over-year, with calculated Q3 ARPU at $20,904.
Positive Forecast for Q4
Expected Q4 revenue between $85.5 million and $86.5 million, representing a 34% year-over-year growth rate at the midpoint when normalizing for the Maximum Effort divestiture.
Successful QuickFrame AI Launch
Launched QuickFrame AI, enabling advertisers to create complete TV spots in minutes, lowering barrier to entry for TV advertising.
Efficient Go-to-Market Strategy
Over 75% of leads are inbound, reflecting efficient marketing and sales strategy.
Negative Updates
Dependence on Small and Medium-sized Businesses
Majority of growth is driven by small and medium-sized businesses which might lead to volatility in revenue streams.
Impact of Maximum Effort Divestiture
Year-over-year growth calculations are complex due to the divestiture of Maximum Effort, impacting comparability.
Rising Operating Expenses
Total operating expenses for the third quarter were $47.7 million, indicating a potential challenge in maintaining profitability.
Company Guidance
During the third quarter of 2025, MNTN reported robust financial metrics, including a 31% year-over-year increase in revenue, adjusted for the divestiture of Maximum Effort, reaching $70 million. Gross margin improved significantly to 79%, up from 72% in the same quarter of the previous year, reflecting a 720 basis point increase. This rise was partly due to a 400 basis point improvement in MNTN's core business and the impact of the Maximum Effort divestiture. The company also achieved positive net income of $6.4 million and a GAAP EPS of $0.09, marking its first quarter of GAAP profitability in four years. Adjusted EBITDA surged by 52.9% to $16 million, with an adjusted EBITDA margin of 22.8%, compared to 18.3% in Q3 2024. MNTN's active PTV customers grew by 67% year-over-year to 3,316, underscoring the company's successful penetration into the SMB market. Looking ahead, MNTN anticipates Q4 revenue to range between $85.5 million and $86.5 million, reflecting a 34% year-over-year growth rate at the midpoint, with an expected adjusted EBITDA between $25 million and $26 million. For the full year 2025, the company expects revenue to be between $288.5 million and $289.5 million, representing a 35.5% year-over-year growth at the midpoint when normalized for the Maximum Effort divestiture.MNTN, Inc Class A Financial Statement Overview
Summary
MNTN, Inc Class A shows strong revenue growth but faces significant profitability challenges and a weak balance sheet. The company has negative equity and profitability metrics, indicating financial instability. However, positive operating cash flow is a positive aspect.Income Statement
MNTN, Inc Class A has shown impressive revenue growth of 364.55% in the latest year, indicating strong top-line expansion. However, the company struggles with profitability, as evidenced by negative net profit margins (-14.58%) and EBIT margins (-8.94%). The gross profit margin is relatively healthy at 71.60%, suggesting efficient cost management at the gross level, but significant losses at the net level highlight challenges in managing operating expenses and other costs.Balance Sheet
The balance sheet reveals a concerning financial structure with negative stockholders' equity, indicating potential financial distress. The debt-to-equity ratio is not meaningful due to negative equity, and the return on equity is also negative, reflecting the company's inability to generate profits from its equity base. The equity ratio is not calculable, further underscoring the weak financial position.Cash Flow
Cash flow analysis shows a significant improvement in operating cash flow, turning positive to $42.55 million, which is a positive sign. However, free cash flow growth is negative, and the free cash flow to net income ratio is not meaningful due to negative net income. The company needs to focus on sustaining positive cash flows to support its operations and growth.| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 272.81M | 225.57M | 176.30M | 134.19M | 99.31M | 52.12M |
| Gross Profit | 206.10M | 161.52M | 123.41M | 72.42M | 65.97M | 32.22M |
| EBITDA | 3.79M | -11.83M | -25.28M | -76.18M | -15.18M | 5.46M |
| Net Income | -44.92M | -32.88M | -53.28M | -94.47M | -12.16M | 3.69M |
Balance Sheet | ||||||
| Total Assets | 335.88M | 238.74M | 194.80M | 203.40M | 249.14M | 0.00 |
| Cash, Cash Equivalents and Short-Term Investments | 179.17M | 82.56M | 54.97M | 50.91M | 97.03M | 0.00 |
| Total Debt | 0.00 | 50.25M | 49.33M | 53.55M | 48.62M | 0.00 |
| Total Liabilities | 69.14M | 346.34M | 300.71M | 291.36M | 280.67M | 0.00 |
| Stockholders Equity | 266.73M | -107.60M | -105.91M | -87.97M | -31.53M | 0.00 |
Cash Flow | ||||||
| Free Cash Flow | 35.68M | 32.60M | -3.05M | -61.02M | -5.02M | 6.15M |
| Operating Cash Flow | 53.90M | 42.55M | -3.05M | -56.95M | -1.10M | 6.15M |
| Investing Cash Flow | -21.52M | -9.95M | 37.79M | -4.07M | -1.36M | -3.11M |
| Financing Cash Flow | 88.40M | -5.00M | -34.88M | 14.90M | 91.71M | 2.12M |
MNTN, Inc Class A Risk Analysis
MNTN, Inc Class A disclosed 78 risk factors in its most recent earnings report. MNTN, Inc Class A reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
MNTN, Inc Class A Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
51 Neutral | $48.19M | -7.79 | -19.65% | ― | -1.53% | 55.08% | |
46 Neutral | $885.27M | -19.54 | ― | ― | 31.28% | -22.05% | |
45 Neutral | $23.18M | -8.82 | -19.02% | ― | 16.60% | 70.20% | |
39 Underperform | $7.81M | -0.15 | -268.12% | ― | -9.05% | 77.41% |
* Technology Sector Average
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.