The strong CTV growth and raised guidance suggest Magnite is gaining share in a high-growth market. The new buyback program enhances shareholder returns. Monitor Q1 2026 contribution ex-TAC ($157-161M guidance) as a key indicator of momentum.
Price Chart
Executive Summary
Magnite reported strong Q4 2025 results with revenue up 6% YoY to $205.4 million and CTV contribution ex-TAC growing 32% excluding political, now over 50% of business. Non-GAAP EPS was flat at $0.34, but the company announced a new $200 million stock buyback program and raised full-year 2026 guidance for contribution ex-TAC and free cash flow growth.
Key Financial Metrics
Key Facts
- Q4 2025 revenue of $205.4 million (+6% YoY)
- CTV contribution ex-TAC grew 32% YoY excluding political, now over 50% of business
- Non-GAAP EPS flat at $0.34, but adjusted EBITDA margin improved to 43%
- Announced new $200 million stock buyback program
- Raised full-year 2026 guidance: contribution ex-TAC growth at least 11%, free cash flow growth >30%
Financial Impact
Revenue growth of $11.4 million YoY, $200 million buyback program, and raised 2026 guidance for double-digit contribution growth and >30% FCF growth
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| CTV | $93.6M | +20.0% |
| DV+ | $101.5M | -1.0% |
Risk Factors
- Non-GAAP EPS was flat despite revenue growth, indicating margin pressure in non-CTV segments
- The $90 million one-time tax benefit inflated GAAP net income, which may not recur
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 11 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (MGNI) — Batch item 1 | 0001595974-26-000010 |
| Document: mgni-20260225.htm | 0001595974-26-000010 |
| Document: 0001595974-26-000010-index-headers.html | 0001595974-26-000010 |
| Document: 0001595974-26-000010-index.html | 0001595974-26-000010 |
| Document: 0001595974-26-000010.txt | 0001595974-26-000010 |
| 8-K Filing (MGNI) — Batch item 6 | 0001595974-26-000010 |
| Document: mgni-20260225.htm | 0001595974-26-000010 |
| Document: 0001595974-26-000010-index-headers.html | 0001595974-26-000010 |
| Document: 0001595974-26-000010-index.html | 0001595974-26-000010 |
| Document: 0001595974-26-000010.txt | 0001595974-26-000010 |
| CONTEXT: Previous Earnings (2026-02-25) | 0001595974-26-000010 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 11, 2026 22d ago | Insider Cluster | $23.77 $23.84 | ▲ +0.29% | ▲ +0.74% | $25.44 (+7.03%) |
Sep 10, 2026 22d ago | Press Release | $23.55 $23.77 | ▲ +0.93% | ▲ +0.08% | $25.44 (+8.03%) |
Sep 10, 2026 23d ago | Insider Cluster | $23.55 $23.77 | ▲ +0.93% | ▲ +0.08% | $25.44 (+8.03%) |
Sep 3, 2026 4w ago | Insider Cluster | $24.63 $24.14 | ▼ −1.99% | ▼ −1.60% | $25.44 (+3.29%) |
Aug 12, 2026 7w ago | Insider Cluster | $24.34 $24.58 | ▲ +0.99% | ▲ +0.29% | $25.44 (+4.52%) |
Aug 12, 2026 7w ago | Insider Cluster | $24.34 $24.58 | ▼ −0.99% | ▼ −0.29% | $25.44 (−4.52%) |
Aug 12, 2026 7w ago | Insider Cluster | $24.34 $24.58 | ▼ −0.99% | ▼ −0.29% | $25.44 (−4.52%) |
Aug 10, 2026 7w ago | 144 | $24.30 $24.34 | ▲ +0.16% | ▼ −0.09% | $25.44 (+4.69%) |
Aug 7, 2026 8w ago | Insider Cluster | $24.21 $24.30 | ▼ −0.37% | ▼ −0.69% | $25.44 (−5.08%) |
Aug 7, 2026 8w ago | Insider Cluster | $24.21 $24.30 | ▲ +0.37% | ▲ +0.69% | $25.44 (+5.08%) |
US Market Status
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