Magnite, Inc.
- Open
- 17.92
- Day high
- 18.80
- Day low
- 17.91
- Prev close
- 17.92
- Volume
- 2.0M
- Mkt cap
- $2.7B
- P/E (TTM)
- 16.7
- EPS (TTM)
- $1.11
- P/B
- 2.9
- P/S
- 3.7
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$9.4M over the last 3 months (0 open-market buys, 16 sales)
- 🏛Institutions mixed (13F)
Magnite, Inc. (MGNI) is a Communication Services company listed on NASDAQ. The stock is down 20% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 16 sales (SEC Form 4).
Magnite, Inc. (MGNI) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 5 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
MGNI earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 6, 2026 | $0.11 | $0.13 | +23.0% | $161M | +1.0% |
| Feb 25, 2026 | $0.35 | $0.80 | +128.6% | $205M | +5.9% |
| Nov 5, 2025 | $0.20 | $0.20 | +0.0% | $179M | -7.4% |
| Aug 6, 2025 | $0.17 | $0.20 | +17.6% | $173M | +10.4% |
| Feb 26, 2025 | $0.39 | $0.34 | -12.8% | $194M | +5.5% |
| Nov 7, 2024 | $0.16 | $0.17 | +6.3% | $162M | -12.1% |
| Feb 28, 2024 | $0.15 | $0.16 | +3.3% | $187M | +16.6% |
| May 10, 2023 | $-0.22 | $0.04 | +118.2% | $130M | +17.3% |
| Feb 22, 2023 | $0.35 | $0.24 | -31.4% | $175M | +14.1% |
| May 4, 2022 | $0.07 | $0.08 | +14.3% | $118M | +10.4% |
| Feb 23, 2022 | $0.31 | $0.26 | -16.1% | $161M | +15.2% |
| Nov 3, 2021 | $0.15 | $0.14 | -6.7% | $132M | +15.0% |
MGNI insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 17, 2026 | BARRETT MICHAEL G.director, officer: CEO | Option | 38,596 | $5.80 |
| Jul 17, 2026 | BARRETT MICHAEL G.director, officer: CEO | Sell | 38,596 | $20.35 |
| Jul 14, 2026 | Caine Pauldirector | Sell | 5,000 | $20.64 |
| Jul 9, 2026 | Buonasera Davidofficer: CHIEF TECHNOLOGY OFFICER | Sell | 1,224 | $21.00 |
| Jul 9, 2026 | Buckley Sean Patrickofficer: See Remarks | Sell | 19,233 | $21.03 |
| Jul 2, 2026 | Buonasera Davidofficer: CHIEF TECHNOLOGY OFFICER | Sell | 9,376 | $20.00 |
| Jul 1, 2026 | BARRETT MICHAEL G.director, officer: CEO | Option | 75,000 | $5.80 |
| Jul 1, 2026 | BARRETT MICHAEL G.director, officer: CEO | Sell | 75,000 | $19.50 |
| Jun 18, 2026 | Buckley Sean Patrickofficer: See Remarks | Sell | 19,233 | $19.00 |
| Jun 17, 2026 | Buonasera Davidofficer: CHIEF TECHNOLOGY OFFICER | Sell | 1,409 | $19.00 |
| Jun 17, 2026 | BARRETT MICHAEL G.director, officer: CEO | Option | 178,596 | $5.80 |
| Jun 17, 2026 | Buonasera Davidofficer: CHIEF TECHNOLOGY OFFICER | Sell | 11,233 | $18.00 |
| Jun 17, 2026 | Buonasera Davidofficer: CHIEF TECHNOLOGY OFFICER | Sell | 1,057 | $17.00 |
| Jun 17, 2026 | Knopper Douglas Sdirector | Sell | 37,337 | $18.10 |
| Jun 17, 2026 | BARRETT MICHAEL G.director, officer: CEO | Sell | 100,000 | $17.50 |
Source: MGNI SEC Form 4 filings, latest Jul 17, 2026. For informational purposes only — not investment advice.
See the full MGNI insider & 13F page →Magnite, Inc. company profile
Overview
Magnite, Inc. (NASDAQ:MGNI) is an independent sell-side advertising platform that operates as a supply-side platform (SSP) connecting digital media publishers with advertisers. Founded in 2007 and originally known as The Rubicon Project, the company rebranded to Magnite in July 2020 following its acquisition of Telaria and SpotX, two prominent connected TV advertising platforms. Headquartered in New York, Magnite has established itself as a leading player in the programmatic advertising ecosystem, particularly in the rapidly growing connected television (CTV) advertising market. The company went public in 2014 and has since evolved from a traditional display advertising platform into a comprehensive omnichannel advertising technology provider.
Business
Magnite operates in the programmatic advertising technology industry, specifically as a supply-side platform that facilitates the automated buying and selling of digital advertising inventory. The company serves as an intermediary between publishers (who own digital media properties like websites, mobile apps, and streaming TV channels) and advertisers (who want to display ads to target audiences). The company's core offering is its independent sell-side advertising platform, which helps publishers monetize their digital content by connecting them with demand from advertisers, agencies, and demand-side platforms (DSPs). Unlike traditional advertising sales that involve manual negotiations, Magnite's platform uses real-time bidding technology where multiple advertisers compete in millisecond auctions for ad placement opportunities. Magnite operates two primary business segments: 1. Connected TV (CTV) - approximately 43% of revenue mix: This segment focuses on advertising within streaming television content, including partnerships with major streaming services like Netflix, Roku, Disney, Warner Bros. Discovery, and others. CTV represents the fastest-growing segment of digital advertising as consumers shift from traditional linear TV to streaming services. 2. DV+ (Display, Video, and other formats) - approximately 57% of revenue mix: This encompasses traditional digital advertising across mobile (40% of total mix), desktop (17% of total mix), and other formats including audio and digital out-of-home advertising. This segment includes partnerships with publishers across websites, mobile applications, and audio platforms. The programmatic advertising industry operates on the principle of automated ad buying, where sophisticated algorithms determine in real-time which ads to show to which users based on targeting criteria, with pricing determined through competitive bidding processes.
Competitive moat
Magnite's competitive moat is moderately strong but faces ongoing challenges in a rapidly evolving industry. The company's primary advantages include its position as the largest independent SSP, which provides scale benefits and attracts both publishers seeking maximum demand and advertisers wanting broad inventory access. Its network effects create value as more publishers attract more advertisers and vice versa, while its established relationships with major streaming platforms like Netflix, Roku, and Disney provide strategic positioning in the high-growth CTV market. The company benefits from switching costs as publishers integrate Magnite's technology into their ad serving infrastructure, making platform changes disruptive and expensive. Additionally, Magnite's investments in artificial intelligence, audience curation, and yield optimization tools create technological differentiation that can improve publisher revenue performance. However, the moat faces significant competitive pressures. Google's dominant position in digital advertising through its integrated ad tech stack poses the most substantial threat, though recent antitrust developments may create opportunities for independent players like Magnite. The Trade Desk's OpenPath initiative represents another competitive challenge, attempting to create direct connections between advertisers and premium publishers that could bypass SSPs entirely. The industry's low barriers to entry for basic SSP functionality, the commoditization risk of advertising technology, and the constant need for substantial technology investments to maintain relevance all weaken the defensive characteristics of Magnite's business. The company's independence, while differentiating it from Google's integrated ecosystem, also means it lacks the cross-platform synergies that larger tech companies can leverage.
Risks & safety
Magnite demonstrates a reasonable margin of safety with solid financial fundamentals but some areas of concern: **Cash and Debt Position:** - Strong cash position of $483 million as of December 2024 - Debt-to-equity ratio of 0.79x, indicating moderate leverage - Positive free cash flow generation of $202 million in 2024 - Convertible debt payment due in 2026 requiring attention **Valuation Metrics:** - Trading at 9.3x EV/EBITDA based on 2024 results, reasonable for a growth technology company - Price-to-book ratio of 2.9x reflects moderate premium to book value - Current ratio of 1.14x indicates adequate short-term liquidity **Other Considerations:** - Consistent EBITDA positive with improving margins - Revenue diversification across CTV and traditional digital formats - Exposure to cyclical advertising spending patterns - Dependency on continued growth in programmatic and CTV advertising markets
Recent development
Over the past several years, Magnite has executed a significant strategic transformation focused on connected television dominance and technological advancement. The company's most significant move was securing Netflix as a programmatic partner, with the streaming giant expected to become a major revenue contributor throughout 2025. This partnership, along with expanded relationships with Disney, Warner Bros. Discovery, and other premium streaming services, positions Magnite as a leader in the high-growth CTV advertising market. The company has invested heavily in artificial intelligence capabilities, launching generative AI tools for audience identification, yield optimization, and content classification. These AI-powered features are designed to improve publisher revenue performance and advertiser targeting effectiveness. Magnite also launched its SpringServe platform, which combines ad serving and SSP functionality, and introduced ClearLine, a self-service video buying solution that enables direct advertiser access to premium inventory. Strategically, Magnite has focused on preparing for industry changes, particularly the deprecation of third-party cookies and potential regulatory changes affecting Google's advertising dominance. The company has developed first-party data capabilities and audience curation tools to help publishers and advertisers navigate the post-cookie advertising landscape. Recent earnings calls indicate management expects potential market share gains from Google antitrust remedies, with estimates suggesting significant revenue upside if the company captures additional market share in the display and video advertising segments.
MGNI company profile · for informational purposes only — not investment advice.
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