Magnite Intrinsic Value Calculator – MAGNITE Reports Profitable Second Quarter Results for FY2023
August 11, 2023
☀️Earnings Overview
On August 9 2023, MAGNITE ($NASDAQ:MGNI) reported its second-quarter FY2023 earnings results for the period ending June 30 2023. Compared to the same period in the previous year, revenue was up by 10.7% to USD 152.5 million while net income decreased to USD -73.9 million from -25.0 million.
Price History
On Wednesday, MAGNITE reported their second quarter results for Fiscal Year 2023, revealing a profitable quarter despite the stock dropping 13.0% from the previous closing price of 14.2. This drop caused the stock to open at $14.0 and close at $12.3, the lowest point the stock has seen since last November. Overall, MAGNITE reported a successful quarter with reasonable growth despite the volatile market conditions over the past few months. With their new subscription services driving revenue and cost cutting measures helping to reduce expenses, MAGNITE is in a strong position to weather any market conditions. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Magnite. MAGNITE_Reports_Profitable_Second_Quarter_Results_for_FY2023″>More…
| Total Revenues | Net Income | Net Margin |
| 603.91 | -233.4 | -39.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Magnite. MAGNITE_Reports_Profitable_Second_Quarter_Results_for_FY2023″>More…
| Operations | Investing | Financing |
| 171.82 | -46.94 | -91.64 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Magnite. MAGNITE_Reports_Profitable_Second_Quarter_Results_for_FY2023″>More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.41k | 1.76k | 4.77 |
Key Ratios Snapshot
Some of the financial key ratios for Magnite are shown below. MAGNITE_Reports_Profitable_Second_Quarter_Results_for_FY2023″>More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 54.2% | – | -33.7% |
| FCF Margin | ROE | ROA |
| 20.7% | -18.7% | -5.3% |
Analysis – Magnite Intrinsic Value Calculator
GoodWhale has conducted an analysis of MAGNITE‘s financials, and our proprietary Valuation Line has shown that the fair value of MAGNITE share is around $25.3. Tragically, the current market price for MAGNITE stock is only $12.3, representing a massive 51.4% discount to its fair value. As such, it’s an opportunity for investors to acquire the stock at a much-reduced price and enjoy potential future gains should the stock return to, or even exceed, its calculated fair value. More…
Peers
Headquartered in San Francisco, California, United States, the company was founded in 2006. Magnite is a leading independent technology platform for buyers and sellers of digital advertising. The company’s mission is to power the ecosystem of digital advertising with innovative technology that makes transactions more efficient, effective, and valuable for all participants. Magnite’s competitors include Direct Digital Holdings Inc, Integral Ad Science Holding Corp, and Quotient Technology Inc.
– Direct Digital Holdings Inc ($NASDAQ:DRCT)
As of 2022, Direct Digital Holdings Inc has a market cap of 8.19M and a Return on Equity of 49.62%. The company is a provider of digital direct-to-consumer products and services. Its products and services include online marketing, e-commerce, and software-as-a-service solutions. The company’s customers are located in the United States, Canada, Europe, Asia, Australia, and South America.
– Integral Ad Science Holding Corp ($NASDAQ:IAS)
Integral Ad Science Holding Corp. is a technology company that provides data and analytics to the global online advertising industry. The company’s technology platform enables its customers to optimize their advertising campaigns and to measure their return on investment. The company was founded in 2009 and is headquartered in New York, New York.
– Quotient Technology Inc ($NYSE:QUOT)
Quotient Technology Inc is a provider of digital coupons and advertising solutions. Its solutions enable marketers and retailers to connect with consumers through digital channels. The company’s solutions include digital coupons, loyalty programs, and mobile marketing campaigns. Quotient Technology Inc has a market cap of 311.33M as of 2022, a Return on Equity of -22.8%. The company’s solutions help marketers and retailers connect with consumers through digital channels. The company’s solutions include digital coupons, loyalty programs, and mobile marketing campaigns.
Summary
Investing analysis of MAGNITE‘s second quarter of FY2023 reveals a 10.7% year-over-year increase in total revenue to USD 152.5 million, but a net income of -73.9 million, which is significantly worse than the -25.0 million experienced in the previous year. This news caused the stock price to move down the same day. In order to determine the outlook for MAGNITE, investors should consider the company’s strategies and business model in order to evaluate its future prospects.
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