Magnite, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 08, 2023 at 04:12 pm EST
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Magnite, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 150.09 million compared to USD 145.82 million a year ago. Net loss was USD 17.48 million compared to USD 24.39 million a year ago. Basic loss per share from continuing operations was USD 0.13 compared to USD 0.18 a year ago.
For the nine months, sales was USD 432.78 million compared to USD 401.67 million a year ago. Net loss was USD 190.1 million compared to USD 93.94 million a year ago. Basic loss per share from continuing operations was USD 1.4 compared to USD 0.71 a year ago.
Magnite, Inc. is an independent sell-side advertising company. The Company provides technology solutions to automate the purchase and sale of digital advertising inventory. Its platform features applications and services for sellers of digital advertising inventory, or publishers, that own and operate connected television (CTV) channels, applications, websites and other digital media properties, to manage and monetize their inventory; applications and services for buyers, including advertisers, agencies, agency trading desks, and demand side platforms, (DSPs), to buy digital advertising inventory; and a transparent, independent marketplace that brings buyers and sellers together and facilitates intelligent decision making and automated transaction execution at scale. The Company's streaming sell-side advertising platform (SSP) and ad server offers CTV sellers a holistic solution for workflow, yield management and monetization, across both programmatic and direct-sold video inventory.
MAGNITE, INC. 
