MNTN, Inc Class A (MNTN)
NYSE:MNTN
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MNTN, Inc Class A
(NYSE:MNTN)
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Rating:65Neutral
Price Target:
$10.00
▼(-0.60% Downside)
Action:ReiteratedDate:02/12/26
The score is driven by improving fundamentals (strong margins, strong operating cash flow, and a much stronger balance sheet with zero debt) and a very upbeat earnings update with strong growth and guidance. These positives are meaningfully offset by weak technical momentum (below key moving averages with negative MACD), ongoing trailing net losses/negative P/E, and volatility in free cash flow.
Positive Factors
High Gross Margins
Sustained gross margins near 77–79% indicate strong unit economics and pricing power in MNTN's ad platform. High gross margins provide durable cushion to fund sales and R&D, support profitability as scale improves, and make the business less sensitive to cyclical ad pricing swings over months.
Negative Factors
Inconsistent Net Profitability
Although profitability metrics improved and EBITDA turned positive, TTM net losses mean returns to shareholders and retained earnings remain constrained. Persistent bottom-line inconsistency can limit reinvestment returns and keeps long-term ROE depressed until multi-quarter net profit stability is proven.
Read all positive and negative factors
Positive Factors
Negative Factors
High Gross Margins
Sustained gross margins near 77–79% indicate strong unit economics and pricing power in MNTN's ad platform. High gross margins provide durable cushion to fund sales and R&D, support profitability as scale improves, and make the business less sensitive to cyclical ad pricing swings over months.
Read all positive factors
MNTN, Inc Class A (MNTN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$713.61M
Dividend YieldN/A
Average Volume (3M)591.85K
Price to Earnings (P/E)―
Beta (1Y)0.77
Revenue Growth31.28%
EPS Growth-22.05%
CountryUS
Employees499
SectorTechnology
Sector Strength88
IndustryAdvertising Agencies
Share Statistics
EPS (TTM)0.08
Shares Outstanding56,796,623
10 Day Avg. Volume499,593
30 Day Avg. Volume591,849
Financial Highlights & Ratios
PEG Ratio11.86
Price to Book (P/B)19.88
Price to Sales (P/S)20.95
P/FCF Ratio107.63
Enterprise Value/Market Cap0.75
Enterprise Value/Revenue1.84
Enterprise Value/Gross Profit2.38
Enterprise Value/Ebitda20.20
Forecast
1Y Price Target
$20.93Price Target Upside108.05% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering7
EPS Forecast (FY)0.92
Revenue Forecast (FY)$350.25M
MNTN, Inc Class A Business Overview & Revenue Model
Company Description
MNTN, 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 dire...
How the Company Makes Money
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MNTN, Inc Class A Earnings Call Summary
Earnings Call Date:Nov 04, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:May 05, 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.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.
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.
Read all updates
Q3-2025 Updates
Positive
Negative
Strong Revenue Growth
Third quarter revenue increased to $70 million, up 31% year-over-year after adjusting for the divestiture of Maximum Effort.
Read all positive updates
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
Income Statement
62
Positive
Balance Sheet
86
Very Positive
Cash Flow
66
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 290.09M | 225.57M | 176.30M | 134.19M | 99.31M |
| Gross Profit | 221.31M | 161.52M | 123.41M | 72.42M | 65.97M |
| EBITDA | -2.65M | -11.83M | -25.28M | -76.18M | -15.18M |
| Net Income | -6.43M | -32.88M | -53.28M | -94.47M | -12.16M |
Balance Sheet | |||||
| Total Assets | 378.30M | 238.74M | 194.80M | 203.40M | 249.14M |
| Cash, Cash Equivalents and Short-Term Investments | 210.16M | 82.56M | 54.97M | 50.91M | 97.03M |
| Total Debt | 0.00 | 50.25M | 49.33M | 53.55M | 48.62M |
| Total Liabilities | 72.57M | 346.34M | 300.71M | 291.36M | 280.67M |
| Stockholders Equity | 305.74M | -107.60M | -105.91M | -87.97M | -31.53M |
Cash Flow | |||||
| Free Cash Flow | 56.47M | 32.60M | -3.05M | -61.02M | -5.02M |
| Operating Cash Flow | 56.47M | 42.55M | -3.05M | -56.95M | -1.10M |
| Investing Cash Flow | -17.11M | -9.95M | 37.79M | -4.07M | -1.36M |
| Financing Cash Flow | 88.24M | -5.00M | -34.88M | 14.90M | 91.71M |
MNTN, Inc Class A Risk Analysis
MNTN, Inc Class A disclosed 68 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 |
|---|---|---|---|---|---|---|---|
68 Neutral | $706.72M | 4.07 | 24.45% | ― | 43.12% | ― | |
67 Neutral | $990.81M | 5.65 | 13.04% | ― | 0.32% | 69.78% | |
67 Neutral | $1.91B | 16.00 | 17.85% | ― | 6.27% | 226.16% | |
65 Neutral | $713.61M | -945.84 | -3.69% | ― | 31.28% | -22.05% | |
62 Neutral | $1.69B | 37.07 | 4.42% | ― | 6.76% | 1841.46% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
43 Neutral | $55.62M | -1.85 | -370.98% | ― | -14.41% | 65.67% |
* 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.