Magnite Inc

MGNI: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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CTV Share Gains Strengthen Growth Case, but Competitive Durability Remains Unproved

Mark Giarelli , Robert Leary

Aug 6, 2026

Magnite delivered a strong second quarter, with contribution excluding traffic acquisition costs up 17% year over year, led by 36% streaming (CTV) growth. Adjusted EBITDA rose 30%, and margins reached 37%, prompting management to raise its full-year growth and profitability outlook.

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Magnite Inc

CTV Share Gains Strengthen Growth Case, but Competitive Durability Remains Unproved

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