Magnite reported strong third quarter 2026 results that exceeded analyst expectations across all major financial metrics. Performance was primarily driven by massive Connected TV (CTV) momentum and political advertising spend, leading the company to raise its full-year guidance for revenue growth, EBITDA margins, and free cash flow.
Key Highlights
- Revenue grew 14% year-over-year to $204.2 million, surpassing the estimate of $190.16 million.
- Contribution ex-TAC reached $200.6 million, up 20% year-over-year, driven by a 39% jump in the CTV segment which now represents 53% of the total.
- Adjusted EBITDA grew 46% year-over-year to $83.4 million, representing a significant margin expansion to 42% from 34% in the prior year.
- Full-year 2026 free cash flow growth guidance was raised to above 60%, up from the previous forecast in the high 40% range.