Quarterly ResultMay 6, 2026, 04:21 PM
Magnite Repays $205.1M Convertible Notes; Q1 Net Income $4.41M
AI Summary
Magnite, Inc. reported a strong financial performance for the first quarter of 2026, highlighted by the full repayment of its $205.1 million Convertible Senior Notes. The company also achieved a net income of $4.41 million, a significant turnaround from a net loss in the prior year period, on a 5.5% increase in revenue to $164.37 million. This positive shift was reflected in an improved basic EPS of $0.03.
Key Highlights
- Repaid $205.1 million Convertible Senior Notes in full on March 15, 2026.
- Q1 2026 revenue increased 5.5% to $164.37 million from $155.77 million in Q1 2025.
- Achieved Q1 2026 net income of $4.41 million, a significant improvement from a $9.63 million net loss in Q1 2025.
- Basic net income per share was $0.03 in Q1 2026, up from a loss of $0.07 in Q1 2025.
- Cash and cash equivalents totaled $184.65 million as of March 31, 2026.
- CTV channel revenue reached $85.38 million in Q1 2026, representing 52% of total revenue.
- United States revenue was $123.30 million, accounting for 75% of total revenue in Q1 2026.