Magnite Reports Strong Q3 2026 Results Driven by CTV Growth and Political Ad Surge
Magnite (MGNI) reported third-quarter 2026 results that exceeded market expectations, highlighted by a total contribution ex-TAC of $201 million. The company's performance was bolstered significantly by the Connected TV (CTV) segment, which grew 39% year-over-year to $105 million and now represents over half of the company's business excluding traffic acquisition costs. Management raised its full-year outlook, citing a surge in political advertising revenue—now expected to exceed $40 million for the year—and improved operational efficiencies. By transitioning data processing from the cloud to in-house servers, Magnite reduced its cost per billion ad requests by over 50%, contributing to an adjusted EBITDA margin of 42% and projected free cash flow growth exceeding 60%.
Tickers: $MGNI
Topics: connected TV advertising earnings beat guidance raise political advertising revenue growth