Magnite Inc. published the transcript of its Q4 2025 earnings conference call held on February 25, 2026. The call was attended by CEO Michael Barrett, CFO David Day, and Investor Relations representative Nick Kormeluk, along with analysts including Laura Martin (Needham), Daniel Kurnos (Benchmark), Shyam Patil (Susquehanna), Jason Kreyer (Craig-Hallum), Shweta Khajuria (Wolfe), Simran Biswal $(RBC)$, Barton Crockett (Rosenblatt), Robert Coolbrith (Evercore), Omar Dessouky (BofA), and Zach Cummins (B. Riley). Management highlighted accelerating growth in connected TV (CTV) and a continued shift of ad budgets from DV+ to streaming. Barrett said, “CTV is now larger than DV+, making streaming the majority of our business,” and added that “the long anticipated ramp of programmatic CTV is no longer emerging. It is underway at scale.” The company cited strong contributions from major industry partners including LG Ads, Netflix, Paramount, Roku, VIZIO Walmart, and Warner Bros. Discovery, and noted expanding programmatic enablement in live sports and agency marketplace activity supported by its ClearLine offering. Financially, Magnite reported Q4 contribution ex-TAC of $195 million, with CTV contribution ex-TAC of $94 million, up 20% year over year (32% excluding political), while DV+ contribution ex-TAC was $101 million, down 1% (up 4% excluding political). Adjusted EBITDA rose 9% to $84 million, and net income was boosted by a one-time $90 million tax benefit tied to releasing a valuation allowance on deferred tax assets. For Q1 2026, the company guided to contribution ex-TAC of $157 million to $161 million, with CTV expected to grow 28% to 31% and surpass 50% of total contribution ex-TAC for the first time, while DV+ is expected to decline 6% to 8%. The company also announced a new two-year $200 million share repurchase authorization and said it plans to repay $205 million of convertible notes at maturity using cash on hand. Magnite also discussed early work to integrate AI agents into ad transactions, including what it described as the industry’s first agent-to-agent campaign, and reiterated its view that AI will increase throughput rather than disintermediate sell-side infrastructure. “Even in a world of autonomous agents, infrastructure becomes more critical, not less,” Barrett said. On the Google ad tech remedies phase, management said it is awaiting the court’s final order and believes behavioral remedies could still create share reallocation opportunities. The full transcript can be accessed through the link below.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Magnite Inc. published the original content used to generate this news brief on February 26, 2026, and is solely responsible for the information contained therein.
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