Magnite (MGNI) financial statements
Magnite reported revenue of $714M in fiscal 2025, up 11.0% a year over 9 years.
Net income was $145M and the operating margin 13.7%, against -8.9% in 2016.
Free cash flow was $152M, and the company returned $46M in net buybacks.
The diluted share count rose 230% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Magnite's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $278M | $156M | $125M | $156M | $222M | $468M | $577M | $620M | $668M | $714M |
| Cost of revenue | $73M | $57M | $60M | $57M | $78M | $202M | $307M | $410M | $259M | $267M |
| Gross profit | $205M | $99M | $65M | $99M | $144M | $267M | $270M | $210M | $409M | $447M |
| Research and development | $51M | $48M | $38M | $40M | $52M | $74M | $94M | $94M | $95M | $85M |
| Selling, general and admin | $152M | $107M | $87M | $84M | $129M | $235M | $281M | $263M | $263M | $265M |
| Operating income | -$25M | -$157M | -$64M | -$28M | -$54M | -$81M | -$113M | -$155M | $51M | $98M |
| Interest expense | — | — | — | — | — | — | $29M | $32M | $27M | $19M |
| Pre-tax income | -$23M | -$157M | -$61M | -$27M | -$53M | -$95M | -$136M | -$158M | $26M | $71M |
| Income tax | -$5M | -$2M | $357,000 | -$2M | $693,000 | -$95M | -$5M | $2M | $4M | -$74M |
| Net income | -$18M | -$155M | -$62M | -$25M | -$53M | $65,000 | -$130M | -$159M | $23M | $145M |
| EPS (diluted) | -$0.39 | -$3.17 | -$1.23 | -$0.48 | -$0.55 | $0.00 | -$0.98 | -$1.17 | $0.16 | $0.95 |
| Diluted shares | 47M | 49M | 50M | 53M | 97M | 136M | 133M | 137M | 147M | 154M |
| Gross margin | 73.7% | 63.5% | 51.9% | 63.3% | 64.9% | 56.9% | 46.8% | 33.9% | 61.3% | 62.7% |
| Operating margin | -8.9% | -100.9% | -51.0% | -17.6% | -24.5% | -17.3% | -19.5% | -25.0% | 7.6% | 13.7% |
| Net margin | -6.5% | -99.5% | -49.6% | -16.3% | -24.1% | 0.0% | -22.6% | -25.7% | 3.4% | 20.3% |
Balance sheet
Fiscal years, from Magnite's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $149M | $77M | $80M | $89M | $118M | $230M | $326M | $326M | $483M | $553M |
| Receivables | $192M | $166M | $206M | $218M | $472M | $928M | $977M | $1.2B | $1.2B | $1.3B |
| Total current assets | $392M | $305M | $301M | $313M | $607M | $1.2B | $1.3B | $1.5B | $1.7B | $1.9B |
| Property, plant and equipment | $36M | $47M | $33M | $24M | $24M | $34M | $45M | $47M | $69M | $109M |
| Goodwill | $66M | $0 | $0 | $7M | $158M | $970M | $978M | $978M | $978M | $984M |
| Total assets | $520M | $384M | $360M | $395M | $939M | $2.7B | $2.7B | $2.7B | $2.9B | $3.2B |
| Total current liabilities | $218M | $217M | $241M | $267M | $522M | $1.0B | $1.1B | $1.4B | $1.5B | $1.8B |
| Long-term debt | — | — | — | — | $0 | $720M | $723M | $533M | $550M | $348M |
| Total liabilities | $220M | $219M | $242M | $283M | $557M | $1.8B | $1.9B | $2.0B | $2.1B | $2.2B |
| Shareholders' equity | $300M | $165M | $118M | $112M | $382M | $881M | $791M | $702M | $768M | $922M |
| Net debt | -$149M | -$77M | -$80M | -$89M | -$118M | $493M | $400M | $210M | $71M | $3M |
Cash flow
Fiscal years, from Magnite's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $60M | $22M | -$23M | $32M | -$12M | $127M | $193M | $214M | $235M | $236M |
| Capital spending | $33M | $40M | $20M | $20M | $22M | $29M | $44M | $37M | $47M | $84M |
| Free cash flow | $27M | -$19M | -$43M | $12M | -$34M | $97M | $148M | $177M | $188M | $152M |
| Stock-based compensation | $29M | $21M | $16M | $19M | $28M | $41M | $64M | $73M | $77M | $77M |
| Share buybacks (net) | — | — | — | $0 | $0 | -$6M | -$16M | $0 | -$15M | -$46M |
| Net borrowing | — | — | — | $0 | $0 | -$2M | -$4M | -$4M | — | — |
| Free cash flow margin | 9.6% | -12.1% | -34.2% | 7.7% | -15.4% | 20.8% | 25.7% | 28.6% | 28.2% | 21.3% |
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Open MGNI in InvestinglyQuestions
What was Magnite's revenue in 2025?
$714M in fiscal 2025, from its 10-K filing.
How much free cash flow does Magnite generate?
$152M in fiscal 2025 (operating cash flow minus capital spending).
From Magnite's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.