Loading financials from SEC filings…
Software - Application · Technology · Fiscal year ends Dec 31
Magnite reported revenue of $714M in the fiscal year ended Dec 2025, up 6.9% from the year before. Operating income was $98M, an operating margin of 13.7%, and net income was $145M. Operating cash flow of $236M less capital expenditure of $71M left free cash flow of $166M. Net debt was $3M.
Ranks among the 83 software - application companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 468 | 577 | 620 | 668 | 714 |
| Cost of revenue | 202 | 307 | 410 | 259 | 267 |
| Gross profit | 267 | 270 | 210 | 409 | 447 |
| Research & development | 74.4 | 93.8 | 94.3 | 95.2 | 84.7 |
| Selling, general & admin | 235 | 281 | 263 | 263 | 265 |
| Operating income | −81.1 | −113 | −155 | 51.1 | 97.6 |
| Net interest incomeBanks | −19.8 | −29.3 | −32.4 | – | – |
| Interest expense | – | 29.3 | 32.4 | 27.0 | 18.9 |
| Pre-tax income | −95.0 | −136 | −158 | 26.5 | 70.6 |
| Income tax | −95.1 | −5.3 | 1.6 | 3.7 | −74.0 |
| Net income | 0.1 | −130 | −159 | 22.8 | 145 |
| Diluted EPS | 0.00 | −0.98 | −1.17 | 0.16 | 0.95 |
| Diluted shares | 136 | 133 | 137 | 147 | 154 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 230 | 326 | 326 | 483 | 553 |
| Receivables | 928 | 977 | 1,176 | 1,200 | 1,302 |
| Current assets | 1,178 | 1,326 | 1,523 | 1,703 | 1,882 |
| Net PP&E | 34.1 | 45.0 | 47.4 | 68.7 | 109 |
| Goodwill | 970 | 978 | 978 | 978 | 984 |
| Total assets | 2,713 | 2,712 | 2,689 | 2,855 | 3,164 |
| Payables | 11.9 | 19.4 | 23.8 | 30.9 | 15.0 |
| Current liabilities | 1,029 | 1,125 | 1,402 | 1,496 | 1,842 |
| Short-term debt | 3.6 | 3.6 | 3.6 | 3.6 | 208 |
| Long-term debt | 720 | 723 | 533 | 550 | 348 |
| Total liabilities | 1,832 | 1,921 | 1,987 | 2,087 | 2,242 |
| Shareholders' equity | 881 | 791 | 702 | 768 | 922 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 127 | 193 | 214 | 235 | 236 |
| Capital expenditure | 17.7 | 30.8 | 26.8 | 32.8 | 70.5 |
| Free cash flow | 109 | 162 | 188 | 202 | 166 |
| Depreciation & amortisation | 147 | 216 | 241 | 58.5 | 53.7 |
| Stock-based compensation | 40.7 | 64.1 | 72.6 | 76.5 | 76.6 |
| Acquisitions | 662 | 20.8 | 0.0 | 0.0 | 8.1 |
| Share buybacks | 6.0 | 15.7 | 0.0 | 14.6 | 46.3 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 23.2% | 7.4% | 7.8% | 6.9% |
| Operating income growth (YoY) | – | – | – | – | 91.0% |
| EPS growth (YoY) | – | – | – | – | 493.7% |
| Gross margin | 56.9% | 46.8% | 33.9% | 61.3% | 62.7% |
| Operating margin | −17.3% | −19.5% | −25.0% | 7.6% | 13.7% |
| Net margin | 0.0% | −22.6% | −25.7% | 3.4% | 20.3% |
| Return on equityBlank when equity is negative | 0.0% | −16.5% | −22.7% | 3.0% | 15.7% |
| ROCEEBIT ÷ (assets − current liabilities) | −4.8% | −7.1% | −12.0% | 3.8% | 7.4% |
| Free cash flow margin | 23.2% | 28.0% | 30.3% | 30.3% | 23.2% |
| Cash conversion (CFO ÷ net income) | 1948x | −1.48x | −1.35x | 10.3x | 1.63x |
| Receivable days | 723 | 618 | 693 | 656 | 666 |
| Payable days | 22 | 23 | 21 | 44 | 21 |
| Interest cover | – | −3.85x | −4.79x | 1.89x | 5.16x |
| Debt ÷ equity | 0.82x | 0.92x | 0.76x | 0.72x | 0.60x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 493 | 400 | 210 | 70.5 | 2.8 |
| Current ratio | 1.14x | 1.18x | 1.09x | 1.14x | 1.02x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.