Magnite Inc

MGNI: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Magnite Earnings: Streaming Growth Shows Upside, but Disintermediation Threat Is Hard to Disprove

Mark Giarelli , Robert Leary

May 7, 2026

Magnite posted solid first-quarter results, with contribution excluding traffic acquisition costs up 10% year over year to $160.9 million, exceeding management’s forecast. CTV (streaming) contribution ex-TAC rose 30%, while desktop and mobile declined 5%. Margin guidance was bullish.

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Magnite Inc

Magnite Earnings: Streaming Growth Shows Upside, but Disintermediation Threat Is Hard to Disprove

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