Magnite, Inc. reported a revenue of $155.8 million for the first quarter of 2025, marking a 4% increase from $149.3 million in the same period last year. The company's net loss narrowed significantly to $9.6 million, or $0.07 per share, compared to a net loss of $17.8 million, or $0.13 per share, in the prior year. This improvement in profitability was attributed to a reduction in total expenses, which decreased by 4% to $157.1 million, driven by lower costs in several operational areas, including a 5% decline in the cost of revenue.
In terms of operational metrics, Magnite's revenue growth was primarily fueled by increases in mobile and desktop advertising, which rose by 8% and 9%, respectively. However, revenue from connected TV (CTV) remained flat year-over-year, impacted by a decline in transactions reported on a gross basis. Despite this, the company noted a 15% increase in Contribution ex-TAC attributable to CTV, indicating a positive trend in programmatic transactions. The company continues to focus on expanding its CTV offerings, with the recent introduction of the next-generation SpringServe platform currently in beta testing.
Strategically, Magnite has made significant changes to its debt structure, including the refinancing of its 2024 Term Loan B Facility, which resulted in a reduction of interest rates. As of March 31, 2025, the company had total debt of $556.6 million, with $429.7 million in cash and cash equivalents. The company also repurchased 1.5 million shares of its common stock during the quarter as part of its ongoing share repurchase program, which has a remaining authorization of $91.2 million.
Looking ahead, Magnite anticipates continued revenue growth, particularly in the CTV segment, which it expects to be a significant driver of future performance. The company remains focused on enhancing its technology and expanding its market presence, particularly in international markets. Management expressed optimism about the potential for increased advertising spend as macroeconomic conditions stabilize, although they acknowledged the ongoing risks associated with inflation and global economic uncertainties.
About MAGNITE, INC.
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