Recent Updates — MGNI

Magnite completed the third repricing of its $358 million senior secured Term Loan B due February 2031 and repriced its $175 million Revolving Credit Facility maturing in February 2029. The amendment reduces the term loan margin by 50 basis points to Term SOFR plus 2.50%, while the revolving facility margin is reduced by 100 basis points to a range of 2.50% to 3.00%. These changes generate approximately $1.8 million in annualized interest savings and represent a cumulative reduction of 250 basis points for the term loan since February 2024. Maturities and other material terms remain substantially unchanged. Magnite operates as the world's largest independent sell-side advertising company, providing technology to help publishers monetize content across screens.

Magnite, Inc. appointed Brian Gephart as Chief Financial Officer and Haas Sullivan as Chief Accounting Officer, both effective October 1, 2026. Gephart succeeds retiring CFO David Day after a decade in the role, having served as the company's Chief Accounting Officer since June 2021. In connection with his appointment, Gephart received an equity award valued at $2.25 million, comprising $1.575 million in restricted stock units and $675,000 in performance stock units, along with a revised severance agreement. Sullivan, previously the Vice President of Accounting, was granted approximately $600,000 in restricted stock units. Magnite operates as an independent sell-side advertising platform that helps publishers monetize content across screens including connected TV and online video.

Magnite reported second quarter 2026 financial results for the period ended June 30, 2026. Revenue increased 11% year-over-year to $192.8 million, while Contribution ex-TAC grew 17% to $189.6 million, exceeding guidance. Net income rose to $19.4 million ($0.13 diluted EPS) from $11.1 million in the prior year period. Adjusted EBITDA increased 30% to $70.6 million with a 37% margin. The company raised its full-year expectations, targeting Contribution ex-TAC growth of 13-14%, Adjusted EBITDA growth greater than 20%, and an Adjusted EBITDA margin of at least 37%. Magnite operates in the digital advertising industry as a sell-side platform for publishers.