Magnite Inc (STU:15R)
€ 11.485 -0.29 (-2.46%) Market Cap: 1.73 Bil Enterprise Value: 2.00 Bil PE Ratio: 0 PB Ratio: 2.56 GF Score: 78/100
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Q2 2024 Magnite Inc Earnings Call Transcript

Aug 07, 2024 / 08:30PM GMT
Release Date Price: €11.89 (-0.88%)

Key Points

Positve
  • Magnite Inc (MGNI) exceeded top-line guidance for Q2 2024.
  • Secured a significant partnership with Netflix as a programmatic SSP partner.
  • CTV contribution ex-TAC grew 12% year over year.
  • Expanded partnerships with major players like Roku and United Airlines.
  • Strong ad spend growth, particularly in CTV, with a 20% increase in ad spend for the quarter.
Negative
  • Slight decreases in CPM trends for CTV year over year.
  • Political ad spend showed significant volatility, impacting revenue projections.
  • Managed services business was down slightly in Q2 and expected to be down in Q3.
  • DV+ growth was slower this quarter, with a 7% increase year over year.
  • Concerns about macroeconomic factors and geopolitical uncertainties affecting future performance.
Operator

Good day, and welcome to the Magnite second quarter 2024 earnings conference call. (Operator instructions) Please note this event is being recorded. I would now like to turn the conference over to Nick Kormeluk of Investor Relations. Please go ahead.

Nick Kormeluk
Magnite Inc - Investor Relations

Thank you, operator, and good afternoon, everyone. Welcome to Magnite's second quarter 2024 earnings conference call. As a reminder, this conference call is being recorded. Joining me on the call today are Michael Barrett, CEO; and David Day, our CFO.

I would like to point out that we have posted financial highlight slides on our Investor Relations website to accompany today's presentation. Before we get started, I will remind you that our prepared remarks and answers to questions will include information that might be considered to be forward-looking statements, including, but not limited to, statements concerning our anticipated financial performance and strategic objectives, including the potential impact of macroeconomic factors on our business. These

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