MAGNITE Reports Q2 FY2023 Earnings Results on June 30, 2023
August 27, 2023
🌥️Earnings Overview
On June 30 2023, MAGNITE ($NASDAQ:MGNI) released its financial results for the second quarter of fiscal year 2023. Revenues of USD 152.5 million represented a 10.7% increase compared to the same quarter the prior year. Net income, however, decreased to USD -73.9 million from the previous year’s -25.0 million.
Price History
On Wednesday, June 30, 2023, MAGNITE released their earnings results for the second quarter of FY2023. This was a significant decrease in share value that likely came as a surprise to many investors. Analysts are still trying to piece together why the stock dropped so sharply. Possible reasons include an overall decline in the tech sector or unfavorable news about MAGNITE’s products or services.
Whatever the reason may be, investors should keep a close eye on MAGNITE’s stock over the coming months to determine if its value is likely to rebound. For those interested in finding out more about MAGNITE’s Q2 FY2023 earnings results, more information can be found on their website or financial statements. Investors should also keep in mind that past performance is not necessarily indicative of future results. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Magnite. MAGNITE_Reports_Q2_FY2023_Earnings_Results_on_June_30_2023″>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_Q2_FY2023_Earnings_Results_on_June_30_2023″>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_Q2_FY2023_Earnings_Results_on_June_30_2023″>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_Q2_FY2023_Earnings_Results_on_June_30_2023″>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
At GoodWhale, we recently conducted an in-depth analysis of MAGNITE‘s fundamentals. Our findings indicate that MAGNITE is a high risk investment — both from a financial and business perspective. When conducting our research, we identified three risk warnings in MAGNITE’s income sheet, balance sheet, and cashflow statement. If you’re interested in learning more about these warnings and our full analysis, be sure to register on goodwhale.com. On our website, you will find all the details you need to make an informed decision when it comes to investing in MAGNITE. 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 for MAGNITE on June 30 2023 revealed mixed results. Total revenue for the second quarter of fiscal year 2023 was USD 152.5 million, a 10.7% increase from the same period in the previous year. Net income on the other hand was USD -73.9 million, a decrease from the previous year’s figure of -25.0 million.
This led to a drop in stock price the same day, suggesting that investors may be concerned about the underlying financial health of the company. Additional research should be done to assess long-term potential before investing in MAGNITE.
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