Magnite (MGNI) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Magnite published the results on November 4, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Magnite reports EPS two ways: GAAP, under the accounting rules every US filer follows, and non-GAAP, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Magnite reports in thousands; figures here are in millions. The segment table is GAAP revenue by channel from the 10-Q. Magnite's own headline split, Contribution ex-TAC by CTV and DV+ (mobile plus desktop), is a non-GAAP measure.
• Magnite's Convertible Senior Notes matured on March 15, 2026 and were repaid in full, so no convertible-note shares are in the Q3 2026 diluted share count.

Source: Magnite Q3 2026 results, November 4, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Magnite splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Magnite's CTV revenue was $109 million in Q3 2026, up 24% from $87.8 million in Q3 2025, 53% of total revenue.
• Magnite's Mobile revenue was $67.9 million in Q3 2026, up 5% from $65.0 million in Q3 2025, 33% of total revenue.
• Magnite's Desktop revenue was $27.5 million in Q3 2026, up 3% from $26.7 million in Q3 2025, 13% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

Magnite guides on Contribution ex-TAC, a non-GAAP measure, not on GAAP revenue. For Q4 2026 it expects total Contribution ex-TAC of $227 million to $233 million: CTV $124 million to $127 million and DV+ $103 million to $106 million.

In its Q3 2026 release, Magnite said:

“Top-line growth, excluding political, accelerating over 2026”

“Total top-line growth of over 15%, excluding political and not including upside from Google remedies, or 10% on a total reported basis”

“We outperformed political revenue expectations, mostly in CTV, and now expect full-year political spend to be nearly three times our initial forecast.”

Source: Magnite Q3 2026 release, Nov 4, 2026.

This is the company's own guidance as of Nov 4, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the MGNI forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP revenue and diluted EPS, each as first reported in that quarter's release. Q4 2025 EPS of $0.80 includes a one-time tax benefit of about $90 million from releasing a valuation allowance on deferred tax assets.

We do not hold a confirmed date for Magnite's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Nov 4, 2026

Magnite's revenue was $204.2 million in Q3 2026, up 14% from $179.5 million a year earlier. By channel, CTV brought in $108.8 million (53% of revenue), mobile $67.9 million (33%) and desktop $27.5 million (14%). Magnite said the $24.7 million increase came mainly from CTV, up $21.0 million or 24%, and mobile, up $3.0 million or 5%, including more political advertising. (Magnite Form 10-Q, Q3 2026, Nov 4, 2026)

Magnite runs a sell-side advertising platform, and its revenue is generally a percentage of the ad spend that runs through it. Most of it is booked net of what Magnite pays sellers: net-basis revenue was $198.3 million, or 97% of the total, against 89% a year earlier. Revenue booked on a gross basis, for campaigns bought through insertion orders, fell to $5.9 million from $19.4 million, and the 10-Q says that shift away from gross-basis transactions held back reported CTV revenue growth. (Magnite Form 10-Q, Q3 2026, Nov 4, 2026)

Magnite's own headline measure is Contribution ex-TAC, which strips out traffic acquisition costs on gross-basis revenue. It was $200.6 million in the quarter, up 20%. CTV contributed $105.4 million, up 39%, and DV+ (mobile and desktop) $95.3 million, up 5%; both beat the top of Magnite's guidance ranges. CEO Michael Barrett said CTV is now 53% of total Contribution ex-TAC. (Magnite Q3 2026 release, Nov 4, 2026; Magnite Form 10-Q, Q3 2026, Nov 4, 2026)

Magnite's sellers are mostly in the United States, which accounted for $151.7 million of revenue, or 74%, with international sellers at $52.5 million, or 26%. Demand is concentrated: in 2025 two buyers of advertising inventory indirectly contributed approximately 44% of Magnite's revenue through their buying on its platform. (Magnite Form 10-Q, Q3 2026, Nov 4, 2026; Magnite Form 10-K, 2025, Feb 25, 2026)

Magnite earned GAAP diluted EPS of $0.23 in Q3 2026, against non-GAAP EPS of $0.33. Net income was $34.0 million and non-GAAP income $49.3 million. The biggest item Magnite adds back is stock-based compensation of $16.5 million; it also excludes amortization of acquired intangibles of $1.5 million, litigation expense of $2.0 million tied mainly to its lawsuit against Google, and foreign exchange losses, less a tax effect of $5.2 million. (Magnite Q3 2026 release, Nov 4, 2026)

Magnite's income tax provision rose to $11.6 million from $0.9 million a year earlier, so GAAP net income grew 70% while pre-tax income more than doubled to $45.6 million from $20.9 million. (Magnite Q3 2026 release, Nov 4, 2026; Magnite Form 10-Q, Q3 2026, Nov 4, 2026)

Magnite's diluted share count fell to 150.8 million from 153.2 million. In the first nine months of 2026 it repurchased 3,484,112 shares for $55.1 million under its $200.0 million 2026 Repurchase Plan, leaving $144.9 million available, and in March it repaid $205.1 million of Convertible Senior Notes in cash at maturity. (Magnite Q3 2026 release, Nov 4, 2026; Magnite Form 10-Q, Q3 2026, Nov 4, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Magnite guides on Contribution ex-TAC and Adjusted EBITDA, not GAAP revenue or EPS. For Q4 2026 it expects total Contribution ex-TAC of $227 million to $233 million, with CTV at $124 million to $127 million and DV+ at $103 million to $106 million, and Adjusted EBITDA operating expenses of $125 million to $127 million. (Magnite Q3 2026 release, Nov 4, 2026)

Magnite raised its full-year 2026 outlook to Contribution ex-TAC growth of about 17%, from 13% to 14%, and an Adjusted EBITDA margin of about 38.5%, from at least 37%. For 2027 it expects top-line growth of over 15% excluding political, or 10% on a total reported basis, and an Adjusted EBITDA margin of at least 38.5%. (Magnite Q3 2026 release, Nov 4, 2026)

A consensus figure is the average of the models published by the analysts who cover Magnite, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Magnite's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning MGNI is on is MGNI a buy or a sell?, what analysts expect next is on the MGNI forecast, and what the company does is on the Magnite (MGNI) stock page.

Every number on this page can be traced to a document Magnite published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.