Earned & PaidCompanies · adtech platform
Magnite
Sell sideMGNI
Magnite brought in $710M of revenue in fiscal 2025, growing 26% a year over five years at a 14% operating margin.
$710Mrevenue, FY2025
+26%growth a year, 5 years
14%operating margin
Revenue and margin
Bars: revenue, $B (10-K). Years where the filing's revenue line isn't comparable are left out of the line.
What they told investors
“AI is increasing efficiency, expanding working media, and driving more volume through platforms like ours.”Michael Barrett · 2026 Q1 · transcript
“I would imagine 2027 will be the year where AI actually results in real revenue, and I think we are really well positioned to take advantage of that.”Michael Barrett · 2026 Q1 · transcript
What they see in the market
What its leaders and filings say about the ad market: its own ad business, or the channels advertisers use, since 2019; counts are statements, not spending.
Programmatic & display 596× since 2019Connected TV & streaming 496× since 2019AI in marketing 19× since 2019Linear TV 19× since 2020CRM, loyalty & first-party data 18× since 2020Retail media 14× since 2019Measurement 7× since 2019Sponsorships & athletes 3× since 2021Audio & podcasts 2× since 2021Experiential & events 2× since 2023
- Programmatic & display “This shift could reduce the volume of open web display inventory monetized through our platform.” 10-Q · Aug 5, 2026 · source
- Connected TV & streaming “Our revenue growth was driven by growth in CTV and mobile, which increased by $17.7 million, or 21%, and $1.8 million, or 3%, respectively.” 10-Q · Aug 5, 2026 · source
- AI in marketing “At the same time, AI has the potential to create new digital advertising opportunities through emerging formats such as advertising units that appear within outputs generated by AI models.” 10-Q · Aug 5, 2026 · source
- SEO & AI search “AI is changing the way in which users access information and content on the open internet, in particular with respect to search referral traffic, which has and is expected to continue to decline.” 10-Q · Aug 5, 2026 · source
- Retail media “Commerce media continues to build momentum, with 21 partners and 13 now deployed and ramping, expanding both our demand footprint and data capabilities across DV plus and CTV.” Michael Barrett on the earnings call · May 6, 2026 · source
In the news
- Magnite Could Pick Up Ad Spend If DOJ Curbs Google Exchange Finimize · Sep 29, 2026 · platforms & adtech
- Magnite clients gain Cint studies that pair brand lift with sales lift PPC Land · Sep 28, 2026 · platforms & adtech