Earnings call analysis

Magnite (MGNI) Q3 2026 Earnings Call: Guidance and Outlook

Formal guidance covers the fourth quarter of 2026 alongside raised full-year targets for 2026 and early expectations for 2027.

About Magnite. Magnite, Inc. manages an independent, global platform dedicated to the digital advertising marketplace. This sophisticated system furnishes publishers, entities controlling digital content such as connected TV channels, mobile applications, and websites, with the necessary applications and utilities to oversee and monetize their ad inventory.

Call date

Nov 4, 2026

Sentiment score

+45 Positive

Management tone, -100 to +100

Sentiment change

vs Q2 2026 call

Sector

Communication Services, Media

Next report

Not yet scheduled

View calendar

Quarterly guidance

Contribution ex-TAC: $227 million to $233 million
CTV contribution ex-TAC: $124 million to $127 million
DV+ contribution ex-TAC: $103 million to $106 million
Adjusted EBITDA operating expenses: $125 million to $127 million

Annual guidance

Total contribution ex-TAC growth 2026: Approximately 17%
Adjusted EBITDA percentage growth 2026: Approximately 30%
Adjusted EBITDA margin 2026: Approximately 38.5%
Free cash flow growth 2026: Above 60%
CapEx 2026: Approximately $60 million
Top line growth excluding political 2027: Over 15% or over 10% on a reported basis

Outlook

CTV growth outlook: Management remains confident in a long-term 3 to 5 year growth rate in CTV of approximately 25%.
Political ad contribution: Political contribution ex-TAC is expected to be over $40 million for full year 2026, increasing to over 5% of the contribution ex-TAC mix.
DV+ organic growth: The DV+ business is modeled for roughly flat to modest low single-digit growth.
Google remedies impact: Guidance for 2027 does not factor in any potential upside from Google remedies.

Sources and method

Dombey's summary of the Magnite Q3 2026 earnings call held Nov 4, 2026, written from the call itself. Every figure on this page was checked against what was said on the call, and quoted lines are management's own words; we do not add estimates or prices. The tone score is our read of management's wording, guidance and answers. Check figures against the company's SEC filings before acting. This is research, not investment advice.

Updated Nov 10, 2026. All earnings call analyses

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