MGNI Magnite, Inc. - Common Stock
NASDAQ · Media · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Aug 5, 2026
$24.73
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$11.0452w low
$26.8452w high
Market Cap (MRQ)
$3.55B
P/E (TTM)
22.5
EPS (TTM)
$1.10
Revenue (TTM)
$742M
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52W Range
$11–$27
Analyst Rating
BUY
Price Target
$30
P/E
22.5
ROE
19.6%
Net Profit Margin
22.5%
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MGNI Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$24.73
Market Cap (MRQ)
$3.55B
P/E (TTM)
22.5
EPS (TTM)
$1.10
Revenue (TTM)
$742M
ROE (TTM)
19.6%
Debt/Equity (MRQ)
0.4
52W Range
$11–$27
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About Magnite, Inc. - Common Stock Company overview from Wikipedia
Magnite Inc. (formerly Rubicon Project) is an American online advertising technology firm based in Los Angeles, California. The company was formed following a merger between Rubicon Project and Telaria in 2020.
History
Rubicon Project was founded in 2007 by Frank Addante, Craig Roah, Duc Chau and Julie Mattern, who had previously worked together at L90/adMonitor, an online advertising network.
By April 2009, the company had raised $33 million in venture funding led by Clearstone Venture Partners, IDG Ventures Asia and Mayfield Fund. The company also secured $8 million in venture debt from Silicon Valley Bank.
In February 2014, Rubicon Project filed for an IPO and went public in April 2014 opening at over $20 per share. The stock fell back to about $16 per share later in the month.
In March 2014, the company was named number two on the top Ad Exchange Entities by comScore.
In February 2017, the company released its president and several other top executives. On March 14, 2017, CEO and founder Frank Addante stepped down from his position to take the role of chairman. The company announced Michael Barrett, previously the chief executive of mobile advertising marketplace Millennial Media and chief revenue officer at Yahoo!, would be the new chief executive.
In May 2024, Netflix announced its first expansion of its advertising partnerships to include Magnite, The Trade Desk and Google DV360.
On May 19, 2025, OSN has chosen Magnite, the independent sell-side advertising company, to power its new “Advanced TV” advertising solution. This marks the first time OSN will offer addressable advertising across its set-top box (STB) linear broadcast and video-on-demand (VOD) inventory. Using Magnite’s SpringServe video platform, targeted ads will now be delivered to OSN set-top boxes across the MENA region.
In September 2025, Magnite filed a lawsuit against Google over alleged monopolistic and anticompetitive behavior.
Mergers and acquisitions
Rubicon Project acquisitions
In September 2009, the Rubicon Project acquired OthersOnline, an audience profiling technology company based in Seattle.
In May 2010, the company bought Site Scout, a malware detection company also based in Seattle.
In October 2010, the company acquired Fox Audience Network from News Corp in return for a minority stake in the company. It also received $18 million in additional funding led by Peacock Equity, the venture division of NBC Universal.
In May 2012, Rubicon Project acquired Mobsmith, a mobile technology company.
In August 2012, the company became the top-ranked online advertising company in terms of reach, with a 96.2% audience share, according to rankings provided by ComScore. This placed Rubicon ahead of Google for the first time, and also ahead of other competitors such as AOL and AT&T.
In October 2019, Rubicon Project acquired RTK.io, a header bidding startup for $11 million.
Merger with Telaria
In December 2019, Rubicon Project and Telaria announced a merger. Shareholders of Telaria and Rubicon project approved the merger on March 30, 2020, and the merger was completed on April 1.
While the two businesses initially fell under Rubicon Project and operated as two separate brands, the company rebranded under the name Magnite in June 2020. The merger made Magnite the world's largest independent omnichannel sell-side platform.
Recent acquisitions
In February 2021, Magnite acquired SpotX from European entertainment network RTL Group for $1.17 billion in cash and stock.
In September 2025, Magnite acquired Streamr.ai, a company that specializes in the development of AI-generated assets for small businesses' CTV campaigns.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
sectorCommunication Services
industryMedia
employees971
countryUS
10-Year Performance Revenue, net income, margins and EPS trends
Revenue$714M2016-12-31 → 2025-12-31
EPS$0.952016-12-31 → 2025-12-31
Free Cash Flow$166M2016-12-31 → 2025-12-31
Net margin22.5%2016-12-31 → 2025-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | MGNI | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E (TTM) | 22.55Y avg ≈24.4 | ≈24.4 | 25.9 | Undervalued | |
| P/S (TTM) | 4.85Y avg ≈3.2 | ≈3.2 | 2.5 | Overvalued | |
| P/B (MRQ) | 3.85Y avg ≈2.3 | ≈2.3 | 3.0 | Fair value | |
| EV / EBITDA | 22.15Y avg ≈22.6 | ≈22.6 | · | · | |
| Price / FCF (TTM) | 16.45Y avg ≈12.4 | ≈12.4 | · | · | |
| Price / Cash Flow (TTM) | 12.65Y avg ≈10.2 | ≈10.2 | 9.3 | Fair value | |
| EV / Revenue | 4.75Y avg ≈3.6 | ≈3.6 | · | · | |
| EV / FCF | 20.25Y avg ≈13.9 | ≈13.9 | · | · | |
| Price / Tangible Book (MRQ) | 3.8 | · | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | MGNI | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Operating Margin (TTM) | 15.6%5Y avg ≈-8.1% | ≈-8.1% | 11.9% | Top tier | |
| EBITDA Margin (TTM) | 23.0%5Y avg ≈16.7% | ≈16.7% | 14.1% | Top tier | |
| Pretax Margin (TTM) | 13.2%5Y avg ≈-11.1% | ≈-11.1% | 2.4% | Top tier | |
| Net Profit Margin (TTM) | 22.5%5Y avg ≈-4.9% | ≈-4.9% | -1.0% | Top tier | |
| ROA (TTM) | 5.6%5Y avg ≈-1.0% | ≈-1.0% | 0.59% | Top tier | |
| ROE (TTM) | 19.6%5Y avg ≈-3.9% | ≈-3.9% | 1.1% | Top tier | |
| ROIC | 15.7%5Y avg ≈-0.14% | ≈-0.14% | 3.4% | Top tier |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | MGNI | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Debt / Equity (MRQ) | 0.45Y avg ≈0.7 | ≈0.7 | 0.2 | Above avg | |
| Current Ratio (MRQ) | 1.05Y avg ≈1.1 | ≈1.1 | 1.3 | Low liquidity | |
| Quick Ratio | 1.05Y avg ≈1.1 | ≈1.1 | 1.0 | In line | |
| Long-Term Debt / Equity (MRQ) | 0.45Y avg ≈0.7 | ≈0.7 | 0.4 | In line |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | MGNI | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | 6.9%5Y avg ≈31.3% | ≈31.3% | · | · | |
| Revenue CAGR 3Y | 7.3%5Y avg ≈20.3% | ≈20.3% | · | · | |
| Revenue CAGR 5Y | 26.4% | · | · | · | |
| EPS YoY | 493.8% | · | · | · | |
| Net Income YoY | 534.7% | · | · | · | |
| Net Income CAGR 3Y | 605.1% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | MGNI | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.25Y avg ≈0.2 | ≈0.2 | 0.5 | Weak | |
| Receivables Turnover | 0.65Y avg ≈0.6 | ≈0.6 | 1.6 | Weak | |
| Revenue / Employee | ≈$735.3K | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
18.9%
Next Report
Nov 03, 2026
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Aug 4, 2026 | $0.26 | $0.25 | 2.5% |
| March 31, 2026 | $0.13 | $0.11 | 20.6% | |
| Dec. 31, 2025 | $0.34 | $0.36 | -5.8% | |
| Sept. 30, 2025 | $0.20 | $0.20 | 0.55% | |
| June 30, 2025 | $0.20 | $0.17 | 17.9% | |
| March 31, 2025 | $0.12 | $0.07 | 77.5% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $714M | $668M | $620M | $577M | $468M | $222M | $156M | $125M | $156M | $278M | $248M | $125M | |
| Cost of Revenue | $267M | $259M | $410M | $307M | $202M | $78M | $57M | $60M | $57M | $73M | $58M | $21M | |
| R&D Expense | $85M | $95M | $94M | $94M | $74M | $52M | $40M | $38M | $48M | $51M | $42M | $23M | |
| SG&A Expense | $93M | $97M | $89M | $81M | $65M | $53M | $40M | $42M | $56M | $69M | $70M | $57M | |
| Operating Expenses | $616M | $617M | $775M | $690M | $549M | $276M | $184M | $188M | $313M | $303M | $254M | $144M | |
| Operating Income | $98M | $51M | $-155M | $-113M | $-81M | $-54M | $-28M | $-64M | $-157M | $-25M | $-6M | $-19M | |
| Interest Income | $13M | $13M | $11M | $3M | · | · | · | · | · | · | · | · | |
| Other Non-op | $-27M | $-25M | $-3M | $-23M | $-14M | $1M | $593.0K | $2M | $431.0K | $2M | $1M | $277.0K | |
| Pretax Income | $71M | $26M | $-158M | $-136M | $-95M | $-53M | $-27M | $-61M | $-157M | $-23M | $-4M | $-19M | |
| Income Tax | $-74M | $4M | $2M | $-5M | $-95M | $693.0K | $-2M | $357.0K | $-2M | $-5M | $-5M | $172.0K | |
| Net Income | $145M | $23M | $-159M | $-130M | $65.0K | $-53M | $-25M | $-62M | $-155M | $-18M | $422.0K | $-19M | |
| EPS (Basic) | $1.01 | $0.16 | $-1.17 | $-0.98 | $0.00 | $-0.55 | $-0.48 | · | $-3.17 | $-0.39 | $0.01 | $-0.70 | |
| EPS (Diluted) | $0.95 | $0.16 | $-1.17 | $-0.98 | $0.00 | $-0.55 | $-0.48 | · | $-3.17 | $-0.39 | $0.01 | $-0.70 | |
| Shares (Basic) | 142,560,000 | 140,557,000 | 136,620,000 | 132,887,000 | 126,294,000 | 96,700,000 | 52,614,000 | 50,602,000 | 48,869,000 | 46,655,000 | 39,663,000 | 28,217,000 | |
| Shares (Diluted) | 153,770,000 | 146,810,000 | 136,620,000 | 132,887,000 | 136,261,000 | 96,700,000 | 52,614,000 | 50,259,000 | 48,869,000 | 46,655,000 | 44,495,000 | 28,217,000 | |
| EBITDA | $151M | $110M | $86M | $103M | $66M | · | $5M | $-28M | · | $18M | $25M | $-6M |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $553M | $483M | $326M | $326M | $230M | $118M | $89M | $80M | $77M | $149M | $116M | $97M | |
| Short-term Investments | · | · | · | · | · | · | · | · | · | · | $23M | · | |
| Receivables | $1.30B | $1.20B | $1.18B | $977M | $928M | $472M | $218M | $206M | $166M | $192M | $218M | $133M | |
| Prepaid Expense | $26M | $20M | $21M | $24M | $20M | $18M | $7M | $7M | $10M | $10M | $8M | $8M | |
| Current Assets | $1.88B | $1.70B | $1.52B | $1.33B | $1.18B | $607M | $313M | $301M | $305M | $392M | $366M | $238M | |
| PP&E (Net) | $109M | $69M | $47M | $45M | $34M | $24M | $24M | $33M | $47M | $36M | $25M | $15M | |
| PP&E (Gross) | $233M | $191M | · | · | · | $122M | $110M | $105M | $98M | $69M | $48M | $31M | |
| Accum. Depreciation | $124M | $123M | · | · | · | $98M | $87M | $71M | $51M | $33M | $22M | $16M | |
| Goodwill | $984M | $978M | $978M | $978M | $970M | $158M | $7M | $0 | $0 | $66M | $66M | $16M | |
| Intangibles | $12M | $21M | $51M | $254M | $427M | $90M | $11M | $10M | $13M | $7M | $51M | $14M | |
| Other Non-current Assets | $82M | $6M | $7M | $7M | $7M | $4M | $2M | $1M | $5M | $3M | $2M | $1M | |
| Total Assets | $3.16B | $2.85B | $2.69B | $2.71B | $2.71B | $939M | $395M | $360M | $384M | $520M | $537M | $296M | |
| Accounts Payable | $1.61B | $1.47B | $1.37B | $1.09B | $1.00B | $509M | $259M | $240M | $214M | $215M | $248M | $151M | |
| Current Liabilities | $1.84B | $1.50B | $1.40B | $1.13B | $1.03B | $522M | $267M | $241M | $217M | $218M | $250M | $154M | |
| Capital Leases | $50M | $39M | $50M | $66M | $66M | $32M | $15M | · | · | · | · | · | |
| Deferred Tax | · | · | $680.0K | $5M | $13M | $199.0K | $0 | · | $0 | $42.0K | $6M | $607.0K | |
| Other Non-current Liabilities | $3M | $1M | $2M | $2M | $3M | $3M | $454.0K | $1M | $2M | $2M | $2M | $1M | |
| Total Liabilities | $2.24B | $2.09B | $1.99B | $1.92B | $1.83B | $557M | $283M | $242M | $219M | $220M | $259M | $168M | |
| Long-term Debt | $556M | $554M | $537M | $755M | $758M | · | · | · | · | · | · | · | |
| Total Debt | $348M | $550M | $537M | $726M | $724M | · | · | · | · | · | · | · | |
| Common Stock | $2.0K | $2.0K | $2.0K | $2.0K | $2.0K | $2.0K | $1.0K | $1.0K | $0 | $0 | $0 | $0 | |
| Paid-in Capital | $1.44B | $1.43B | $1.39B | $1.32B | $1.28B | $777M | $453M | $434M | $418M | $399M | $358M | $209M | |
| Retained Earnings | $-517M | $-661M | $-684M | $-525M | $-394M | $-395M | $-341M | $-316M | $-254M | $-99M | $-80M | $-81M | |
| Treasury Stock | · | · | · | $0 | $6M | $0 | · | · | · | · | · | · | |
| AOCI | $-1M | $-4M | $-2M | $-3M | $-1M | $-957.0K | $-45.0K | $-259.0K | $41.0K | $-273.0K | $-15.0K | $-8.0K | |
| Stockholders' Equity | $922M | $768M | $702M | $791M | $881M | $382M | $112M | $118M | $165M | $300M | $278M | $129M | |
| Liabilities + Equity | $3.16B | $2.85B | $2.69B | $2.71B | $2.71B | $939M | $395M | $360M | $384M | $520M | $537M | $296M | |
| Shares Outstanding | 142,964,000 | 141,427,000 | 138,577,000 | 134,006,000 | 132,553,000 | 114,029,000 | 53,888,000 | 51,159,000 | 50,239,000 | 49,378,000 | 46,600,000 | 37,192,000 |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $54M | $59M | $241M | $216M | $147M | $49M | $32M | $35M | $36M | $43M | $31M | $13M | |
| Stock-based Comp | $77M | $77M | $73M | $64M | $41M | $28M | $19M | $16M | $21M | $29M | $31M | $24M | |
| Deferred Tax | $-78M | $63.0K | $-2M | $-9M | $-99M | $-295.0K | $-2M | $-49.0K | $-1M | $-7M | $-5M | $-152.0K | |
| Amort. of Intangibles | $15M | $30M | $202M | $184M | $122M | $25M | $3M | $3M | $5M | $20M | $16M | $900.0K | |
| Restructuring | · | · | · | · | · | $18M | $2M | $3M | $6M | $3M | $0 | $0 | |
| Other Non-cash | $40M | $77M | $62M | $52M | $38M | · | $8M | $-12M | · | $13M | $20M | $-11M | |
| Operating Cash Flow | $236M | $235M | $214M | $193M | $127M | $-12M | $32M | $-23M | $22M | $60M | $77M | $7M | |
| CapEx | $71M | $33M | $27M | $31M | $18M | $14M | $11M | $11M | $32M | $23M | $20M | $11M | |
| Investing Cash Flow | $-93M | $-48M | $-37M | $-65M | $-691M | $33M | $-23M | $28M | $-93M | $-37M | $-74M | $-23M | |
| Stock Repurchased | $46M | $15M | $0 | $16M | $6M | $0 | $0 | · | · | · | · | · | |
| Net Stock Activity | $-46M | $-15M | $0 | $-16M | $-6M | · | · | · | · | · | · | · | |
| Financing Cash Flow | $-75M | $-29M | $-178M | $-30M | $678M | $7M | $-205.0K | $-1M | $-1M | $10M | $15M | $84M | |
| Net Change in Cash | $70M | $157M | $-283.0K | $96M | $113M | $29M | $8M | $4M | $-73M | $33M | $18M | $67M | |
| Taxes Paid | $4M | · | · | · | · | $2M | $291.0K | $379.0K | $382.0K | $1M | $1M | $403.0K | |
| Free Cash Flow | $166M | $202M | $188M | $162M | $109M | · | $21M | $-34M | · | $37M | $57M | $-4M |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 13.7% | 7.6% | -25.0% | -19.5% | -17.3% | · | -17.6% | -51.0% | · | -8.9% | -2.2% | -15.0% | |
| Net Margin | 20.3% | 3.4% | -25.7% | -22.6% | 0.01% | · | -16.3% | -49.6% | · | -6.5% | 0.17% | -14.9% | |
| Pretax Margin | 9.9% | 4.0% | -25.4% | -23.5% | -20.3% | · | -17.3% | -49.3% | · | -8.2% | -1.7% | -14.8% | |
| EBITDA Margin | 21.2% | 16.4% | 13.9% | 17.9% | 14.1% | · | 2.9% | -22.7% | · | 6.4% | 10.2% | -5.0% | |
| ROA | 4.8% | 0.82% | -5.9% | -4.8% | 0.00% | · | -6.8% | · | · | -3.4% | 0.10% | -8.4% | |
| ROE | 17.1% | 3.0% | -23.5% | -16.3% | 0.01% | · | -23.6% | · | · | -6.2% | 0.21% | -40.4% | |
| ROIC | 15.7% | 3.3% | -12.7% | -7.1% | 0.00% | · | -23.3% | · | · | -6.6% | 0.21% | -14.7% |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.0 | 1.1 | 1.1 | 1.2 | 1.1 | · | 1.2 | · | · | 1.8 | 1.5 | 1.5 | |
| Quick Ratio | 1.0 | 1.1 | 1.1 | 1.2 | 1.1 | · | 1.1 | · | · | 1.6 | 1.3 | 1.5 | |
| Debt / Equity | 0.4 | 0.7 | 0.8 | 0.9 | 0.8 | · | · | · | · | · | · | · | |
| LT Debt / Equity | 0.4 | 0.7 | 0.8 | 0.9 | 0.8 | · | · | · | · | · | · | · |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.2 | 0.2 | 0.2 | 0.2 | 0.3 | · | 0.4 | · | · | 0.5 | 0.6 | 0.6 | |
| Receivables Turnover | 0.6 | 0.6 | 0.6 | 0.6 | 0.7 | · | 0.7 | · | · | 1.4 | 1.4 | 1.1 |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $6.45 | $5.43 | $5.06 | $5.90 | $6.66 | · | $2.08 | · | · | $6.07 | $5.97 | $3.46 | |
| Revenue / Share | $4.64 | $4.55 | $4.54 | $4.34 | $3.44 | · | $2.62 | · | · | $5.96 | $5.58 | · | |
| Cash Flow / Share | $1.54 | $1.60 | $1.57 | $1.45 | $0.93 | · | $0.54 | · | · | $1.29 | $1.73 | · | |
| Cash / Share | $3.87 | $3.42 | $2.35 | $2.43 | $1.74 | · | $1.65 | · | · | $3.03 | $2.50 | $2.61 | |
| EPS (TTM) | $0.95 | $0.16 | $-1.17 | $-0.98 | $0.00 | $-0.55 | $-0.48 | $-1.23 | $-3.17 | $-0.39 | $0.01 | $-0.70 |
Growth Rates
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 6.9% | 7.8% | 7.4% | 23.2% | 111.3% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 7.3% | 12.6% | 40.9% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 26.4% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | 493.8% | · | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | 534.7% | · | · | · | · | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | · | 605.1% | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $714M | $668M | $620M | $577M | $468M | $222M | $156M | $125M | $156M | $278M | $248M | $125M | |
| Net Income TTM | $145M | $23M | $-159M | $-130M | $65.0K | $-53M | $-25M | $-62M | $-155M | $-18M | $422.0K | $-19M | |
| Market Cap | $2.32B | $2.25B | $1.29B | $1.42B | $2.31B | · | $440M | · | · | $366M | $767M | $600M | |
| Enterprise Value | $2.11B | $2.32B | $1.50B | $1.82B | $2.81B | · | · | · | · | · | · | · | |
| P/E | 17.1 | 99.5 | -8.0 | -10.8 | · | -55.8 | -17.0 | -3.0 | -0.6 | -19.0 | 1645.0 | -23.1 | |
| P/S | 3.2 | 3.4 | 2.1 | 2.5 | 4.9 | · | 2.8 | · | · | 1.3 | 3.1 | 4.8 | |
| P/B | 2.5 | 2.9 | 1.8 | 1.8 | 2.6 | · | 3.9 | · | · | 1.2 | 2.8 | 4.7 | |
| P / Tangible Book | · | · | · | · | · | 12.4 | · | · | · | · | · | · | |
| P / Cash Flow | 9.8 | 9.6 | 6.0 | 7.4 | 18.3 | · | 13.7 | · | · | 6.1 | 10.0 | 90.3 | |
| P / FCF | 14.0 | 11.1 | 6.9 | 8.8 | 21.2 | · | 21.4 | · | · | 10.0 | 13.5 | -147.8 | |
| EV / EBITDA | 14.0 | 21.2 | 17.5 | 17.6 | 42.6 | · | · | · | · | · | · | · | |
| EV / FCF | 12.8 | 11.5 | 8.0 | 11.2 | 25.8 | · | · | · | · | · | · | · | |
| EV / Revenue | 3.0 | 3.5 | 2.4 | 3.2 | 6.0 | · | · | · | · | · | · | · | |
| Earnings Yield | 5.9% | 1.0% | -12.5% | -9.2% | 0.00% | -1.8% | -5.9% | -33.0% | -169.5% | -5.3% | 0.06% | -4.3% |
Income Statement
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $193M | $164M | $205M | $179M | $173M | $156M | $194M | $162M | $163M | $149M | $187M | $150M | $153M | $130M | $175M | $146M | |
| Cost of Revenue | $62M | $60M | $70M | $69M | $65M | $63M | $68M | $63M | $63M | $66M | $70M | $85M | $130M | $125M | $111M | $72M | |
| R&D Expense | $24M | $25M | $21M | $20M | $22M | $22M | $22M | $20M | $26M | $27M | $23M | $24M | $23M | $24M | $23M | $25M | |
| SG&A Expense | $28M | $25M | $22M | $25M | $23M | $24M | $23M | $24M | $23M | $27M | $21M | $21M | $26M | $21M | $22M | $20M | |
| Operating Expenses | $162M | $157M | $153M | $154M | $151M | $157M | $154M | $147M | $153M | $163M | $152M | $168M | $224M | $231M | $204M | $167M | |
| Operating Income | $31M | $8M | $52M | $25M | $22M | $-1M | $40M | $15M | $10M | $-14M | $35M | $-18M | $-72M | $-100M | $-29M | $-21M | |
| Interest Income | $1M | $2M | $4M | $3M | $3M | $3M | $4M | $4M | $3M | $2M | · | · | · | · | · | · | |
| Other Non-op | $-6M | $-4M | $-4M | $-4M | $-10M | $-9M | $2M | $-9M | $-6M | $-12M | $-2M | $-601.0K | $-1M | $1M | $-11M | $-4M | |
| Pretax Income | $26M | $4M | $48M | $21M | $12M | $-10M | $42M | $6M | $4M | $-26M | $33M | $-18M | $-73M | $-99M | $-39M | $-25M | |
| Income Tax | $6M | $-681.0K | $-75M | $885.0K | $958.0K | $-853.0K | $6M | $1M | $5M | $-8M | $2M | $-967.0K | $663.0K | $-309.0K | $-3M | $-435.0K | |
| Net Income | $19M | $4M | $123M | $20M | $11M | $-10M | $36M | $5M | $-1M | $-18M | $31M | $-17M | $-74M | $-99M | $-36M | $-24M | |
| EPS (Basic) | $0.14 | $0.03 | $0.86 | $0.14 | $0.08 | $-0.07 | $0.26 | $0.04 | $-0.01 | $-0.13 | $0.23 | $-0.13 | $-0.54 | $-0.73 | $-0.27 | $-0.18 | |
| EPS (Diluted) | $0.13 | $0.03 | $0.81 | $0.13 | $0.08 | $-0.07 | $0.26 | $0.04 | $-0.01 | $-0.13 | $0.23 | $-0.13 | $-0.54 | $-0.73 | $-0.27 | $-0.18 | |
| Shares (Basic) | 143,024,000 | 143,541,000 | · | 143,009,000 | 141,654,000 | 141,852,000 | · | 141,270,000 | 140,551,000 | 139,297,000 | · | 137,372,000 | 136,164,000 | 134,667,000 | · | 133,144,000 | |
| Shares (Diluted) | 147,172,000 | 148,077,000 | · | 153,166,000 | 148,260,000 | 141,852,000 | · | 148,697,000 | 140,551,000 | 139,297,000 | · | 137,372,000 | 136,164,000 | 134,667,000 | · | 133,144,000 | |
| EBITDA | $31M | $22M | · | $25M | $22M | $14M | · | $15M | $10M | $-261.0K | · | $-18M | $-72M | $-5M | · | $-21M |
Balance Sheet
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $333M | $185M | $553M | $482M | $426M | $430M | $483M | $387M | $326M | $253M | · | $311M | $266M | $237M | $326M | $254M | |
| Receivables | $1.38B | $1.43B | $1.30B | $1.22B | $1.30B | $1.05B | $1.20B | $1.16B | $1.12B | $1000M | · | $937M | $908M | $875M | · | $804M | |
| Prepaid Expense | $30M | $32M | $26M | $28M | $27M | $32M | $20M | $22M | $19M | $21M | · | $21M | $22M | $25M | · | $21M | |
| Current Assets | $1.75B | $1.65B | $1.88B | $1.73B | $1.76B | $1.52B | $1.70B | $1.57B | $1.47B | $1.27B | · | $1.27B | $1.20B | $1.14B | · | $1.08B | |
| PP&E (Net) | $116M | $116M | $109M | $97M | $90M | $79M | $69M | $65M | $63M | $56M | · | $46M | $46M | $46M | · | $45M | |
| PP&E (Gross) | $250M | $248M | $233M | · | · | · | $191M | · | · | · | · | · | · | · | · | · | |
| Accum. Depreciation | $134M | $132M | $124M | · | · | · | $123M | · | · | · | · | · | · | · | · | · | |
| Goodwill | $984M | $984M | $984M | $984M | $978M | $978M | $978M | $978M | $978M | $978M | $978M | $978M | $978M | $978M | · | $978M | |
| Intangibles | $7M | $10M | $12M | $15M | $11M | $14M | $21M | $28M | $36M | $43M | · | $59M | $88M | $167M | · | $323M | |
| Other Non-current Assets | $86M | $85M | $82M | $6M | $6M | $6M | $6M | $9M | $11M | $16M | · | $7M | $7M | $8M | · | $6M | |
| Total Assets | $3.03B | $2.95B | $3.16B | $2.92B | $2.93B | $2.67B | $2.85B | $2.74B | $2.64B | $2.45B | · | $2.45B | $2.41B | $2.43B | · | $2.53B | |
| Accounts Payable | $1.67B | $1.59B | $1.61B | $1.48B | $1.53B | $1.31B | $1.47B | $1.38B | $1.30B | $1.12B | · | $1.10B | $1.02B | $950M | · | $890M | |
| Current Liabilities | $1.70B | $1.62B | $1.84B | $1.71B | $1.76B | $1.54B | $1.50B | $1.41B | $1.33B | $1.15B | · | $1.13B | $1.05B | $982M | · | $919M | |
| Capital Leases | $43M | $57M | $50M | $49M | $43M | $44M | $39M | $47M | $50M | $53M | · | $54M | $59M | $62M | · | $64M | |
| Deferred Tax | · | · | · | · | · | · | · | · | $287.0K | $288.0K | · | $4M | $5M | $5M | · | $12M | |
| Other Non-current Liabilities | $3M | $3M | $3M | $3M | $2M | $2M | $1M | $2M | $2M | $2M | · | $2M | $2M | $2M | · | $2M | |
| Total Liabilities | $2.10B | $2.03B | $2.24B | $2.11B | $2.16B | $1.93B | $2.09B | $2.01B | $1.93B | $1.76B | · | $1.79B | $1.76B | $1.72B | · | $1.72B | |
| Long-term Debt | $350M | $351M | $556M | $556M | $556M | $557M | $554M | $554M | $553M | $553M | · | $627M | $662M | $703M | · | $756M | |
| Total Debt | $347M | $347M | · | $348M | $349M | $349M | · | $550M | $549M | $549M | · | $605M | $639M | $678M | · | $726M | |
| Common Stock | $2.0K | $2.0K | $2.0K | $2.0K | $2.0K | $2.0K | $2.0K | $2.0K | $2.0K | $2.0K | · | $2.0K | $2.0K | $2.0K | · | $2.0K | |
| Paid-in Capital | $1.43B | $1.43B | $1.44B | $1.45B | $1.43B | $1.42B | $1.43B | $1.42B | $1.42B | $1.40B | · | $1.37B | $1.35B | $1.33B | · | $1.30B | |
| Retained Earnings | $-493M | $-512M | $-517M | $-640M | $-660M | $-671M | $-661M | $-698M | $-703M | $-702M | · | $-715M | $-697M | $-624M | · | $-488M | |
| Treasury Stock | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $0 | |
| AOCI | $-1M | $-1M | $-1M | $-2M | $-1M | $-4M | $-4M | $-1M | $-3M | $-3M | · | $-4M | $-3M | $-3M | · | $-5M | |
| Stockholders' Equity | $936M | $918M | $922M | $808M | $768M | $742M | $768M | $726M | $713M | $695M | $702M | $652M | $653M | $705M | $791M | $811M | |
| Liabilities + Equity | $3.03B | $2.95B | $3.16B | $2.92B | $2.93B | $2.67B | $2.85B | $2.74B | $2.64B | $2.45B | · | $2.45B | $2.41B | $2.43B | · | $2.53B | |
| Shares Outstanding | 143,382,000 | 143,301,000 | 142,964,000 | 143,643,000 | 142,383,000 | 141,476,000 | 141,427,000 | 141,148,000 | 141,141,000 | 140,024,000 | 138,577,000 | 137,821,000 | 136,859,000 | 135,438,000 | 134,006,000 | 133,349,000 |
Cash Flow
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $15M | $14M | $14M | $12M | $12M | $16M | $16M | $15M | $14M | $14M | $17M | $39M | $89M | $96M | $77M | $47M | |
| Stock-based Comp | $20M | $20M | $18M | $18M | $20M | $21M | $17M | $19M | $20M | $21M | $17M | $17M | $19M | $19M | $14M | $17M | |
| Amort. of Intangibles | $2M | $3M | $3M | $2M | $3M | $7M | $7M | $8M | $8M | $8M | $8M | $30M | $79M | $86M | $69M | $38M | |
| Other Non-cash | · | $-159M | · | · | · | $-25M | · | · | · | $-77M | · | · | · | $-47M | · | · | |
| Operating Cash Flow | $187M | $-121M | $128M | $87M | $19M | $3M | $115M | $91M | $90M | $-60M | $89M | $82M | $74M | $-31M | $89M | $40M | |
| CapEx | $12M | $9M | $25M | $18M | $13M | $14M | $4M | $14M | $9M | $6M | $10M | $4M | $8M | $4M | $13M | $9M | |
| Investing Cash Flow | $-16M | $-13M | $-29M | $-30M | $-16M | $-17M | $-7M | $-18M | $-13M | $-9M | $-12M | $-7M | $-11M | $-7M | $-15M | $-13M | |
| Stock Repurchased | $21M | $14M | $23M | $0 | $4M | $19M | $6M | $9M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Net Stock Activity | · | $-14M | · | · | · | $-19M | · | · | · | · | · | · | · | $0 | · | · | |
| Financing Cash Flow | $-22M | $-235M | $-28M | $345.0K | $-8M | $-39M | $-9M | $-14M | $-3M | $-3M | $-62M | $-31M | $-33M | $-52M | $-2M | $-5M | |
| Net Change in Cash | $148M | $-369M | $71M | $56M | $-4M | $-54M | $96M | $61M | $74M | $-73M | $16M | $44M | $30M | $-90M | $73M | $20M | |
| Free Cash Flow | · | $-130M | · | · | · | $-12M | · | · | · | $-66M | · | · | · | $-35M | · | · |
Profitability
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 16.2% | 4.7% | · | 14.0% | 12.7% | -0.88% | · | 9.3% | 5.9% | -9.3% | · | -11.9% | -47.1% | -77.2% | · | -14.5% | |
| Net Margin | 10.0% | 2.7% | · | 11.2% | 6.4% | -6.2% | · | 3.2% | -0.66% | -11.9% | · | -11.6% | -48.4% | -75.9% | · | -16.7% | |
| Pretax Margin | 13.2% | 2.3% | · | 11.7% | 7.0% | -6.7% | · | 3.9% | 2.2% | -17.1% | · | -12.3% | -48.0% | -76.1% | · | -17.0% | |
| EBITDA Margin | 16.2% | 13.4% | · | 14.0% | 12.7% | 9.1% | · | 9.3% | 5.9% | -0.17% | · | -11.9% | -47.1% | -3.6% | · | -14.5% | |
| ROA | 0.65% | 0.16% | · | 0.71% | 0.40% | -0.38% | · | 0.20% | -0.04% | -0.73% | · | -0.70% | -2.9% | -4.0% | · | -0.96% | |
| ROE | 2.3% | 0.53% | · | 2.6% | 1.5% | -1.3% | · | 0.76% | -0.16% | -2.5% | · | -2.4% | -10.0% | -12.8% | · | -2.9% | |
| ROIC | 1.8% | 0.72% | · | 2.1% | 1.8% | -0.11% | · | 0.99% | -0.23% | -0.77% | · | -1.3% | -5.6% | -7.2% | · | -1.4% |
Liquidity & Solvency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.0 | 1.0 | · | 1.0 | 1.0 | 1.0 | · | 1.1 | 1.1 | 1.1 | · | 1.1 | 1.1 | 1.2 | · | 1.2 | |
| Quick Ratio | 1.0 | 1.0 | · | 1.0 | 1.0 | 1.0 | · | 1.1 | 1.1 | 1.1 | · | 1.1 | 1.1 | 1.1 | · | 1.2 | |
| Debt / Equity | 0.4 | 0.4 | · | 0.4 | 0.5 | 0.5 | · | 0.8 | 0.8 | 0.8 | · | 0.9 | 1.0 | 1.0 | · | 0.9 | |
| LT Debt / Equity | 0.4 | 0.4 | · | 0.4 | 0.5 | 0.5 | · | 0.8 | 0.8 | 0.8 | · | 0.9 | 1.0 | 1.0 | · | 0.9 |
Efficiency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | |
| Receivables Turnover | 0.1 | 0.1 | · | 0.2 | 0.1 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.2 |
Per Share
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $6.53 | $6.41 | · | $5.62 | $5.40 | $5.24 | · | $5.14 | $5.05 | $4.97 | · | $4.73 | $4.77 | $5.21 | · | $6.08 | |
| Revenue / Share | $1.31 | $1.11 | · | $1.17 | $1.17 | $1.10 | · | $1.09 | $1.16 | $1.07 | · | $1.09 | $1.12 | $0.97 | · | $1.10 | |
| Cash Flow / Share | · | $-0.82 | · | · | · | $0.02 | · | · | · | $-0.43 | · | · | · | $-0.23 | · | · | |
| Cash / Share | $2.32 | $1.29 | · | $3.36 | $2.99 | $3.04 | · | $2.74 | $2.31 | $1.81 | · | $2.25 | $1.95 | $1.75 | · | $1.90 | |
| EPS (TTM) | $1.10 | $1.05 | · | $0.40 | $0.31 | $0.22 | · | $0.13 | $-0.04 | $-0.57 | · | $-1.67 | $-1.72 | $-1.37 | · | $-0.68 |
Valuation (TTM)
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $742M | $723M | · | $703M | $685M | $675M | · | $661M | $649M | $639M | · | $608M | $604M | $589M | · | $563M | |
| Net Income TTM | $167M | $159M | · | $58M | $43M | $31M | · | $17M | $-5M | $-78M | · | $-226M | $-233M | $-184M | · | $-93M | |
| Market Cap | $2.72B | $1.70B | · | $3.13B | $3.43B | $1.61B | · | $1.95B | $1.88B | $1.51B | · | $1.04B | $1.87B | $1.25B | · | $876M | |
| Enterprise Value | $2.74B | $1.86B | · | $2.99B | $3.36B | $1.53B | · | $2.12B | $2.10B | $1.80B | · | $1.33B | $2.24B | $1.70B | · | $1.35B | |
| P/E | 17.3 | 11.3 | · | 54.5 | 77.8 | 51.9 | · | 106.5 | -332.2 | -18.9 | · | -4.5 | -7.9 | -6.8 | · | -9.7 | |
| P/S | 3.7 | 2.4 | · | 4.5 | 5.0 | 2.4 | · | 3.0 | 2.9 | 2.4 | · | 1.7 | 3.1 | 2.1 | · | 1.6 | |
| P/B | 2.9 | 1.9 | · | 3.9 | 4.5 | 2.2 | · | 2.7 | 2.6 | 2.2 | · | 1.6 | 2.9 | 1.8 | · | 1.1 | |
| P / Cash Flow | · | -14.1 | · | · | · | 630.3 | · | · | · | -24.9 | · | · | · | -40.6 | · | · | |
| EV / Revenue | 3.7 | 2.6 | · | 4.3 | 4.9 | 2.3 | · | 3.2 | 3.2 | 2.8 | · | 2.2 | 3.7 | 2.9 | · | 2.4 | |
| Earnings Yield | 5.8% | 8.8% | · | 1.8% | 1.3% | 1.9% | · | 0.94% | -0.30% | -5.3% | · | -22.1% | -12.6% | -14.8% | · | -10.3% |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Revenue | $714M | $668M | $620M | $577M | $468M |
| Operating Margin % | 13.7% | 7.6% | -25.0% | -19.5% | -17.3% |
| Net Income | $145M | $23M | $-159M | $-130M | $65.0K |
| Diluted EPS | $0.95 | $0.16 | $-1.17 | $-0.98 | $0.00 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Debt / Equity | 0.4 | 0.7 | 0.8 | 0.9 | 0.8 |
| Current Ratio | 1.0 | 1.1 | 1.1 | 1.2 | 1.1 |
| Quick Ratio | 1.0 | 1.1 | 1.1 | 1.2 | 1.1 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Free Cash Flow | $166M | $202M | $188M | $162M | $109M |
Institutional owners (13F) 355 filers · $3.1B total · As of Sept. 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders
355
Value held
$3.1B
New positions
56
Exited positions
34
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 56 (+1 vs prior Q) | 34 (-20 vs prior Q) | 119 (+3 vs prior Q) | 92 (+6 vs prior Q) | +12.0M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| BlackRock, Inc. | $241,295,708 | 12,713,156 | 7.84% | Shares |
| VANGUARD GROUP INC | $240,246,684 | 14,802,630 | 7.81% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $155,584,488 | 8,197,286 | 5.06% | Shares |
| FMR LLC | $147,273,902 | 7,759,426 | 4.79% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $118,154,201 | 6,225,195 | 3.84% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $114,724,458 | 6,044,492 | 3.73% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $99,838,708 | 5,260,132 | 3.25% | Shares |
| Boston Partners | $95,854,485 | 5,013,835 | 3.12% | Shares |
| AMERICAN CENTURY COMPANIES INC | $87,739,553 | 4,622,736 | 2.85% | Shares |
| Capital Research Global Investors | $73,436,638 | 3,869,159 | 2.39% | Shares |
| Nuveen, LLC | $72,025,513 | 3,794,811 | 2.34% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $71,946,545 | 3,789,959 | 2.34% | Shares |
| Edenbrook Capital, LLC | $67,485,573 | 3,555,615 | 2.19% | Shares |
| STATE STREET CORP | $66,962,864 | 3,528,075 | 2.18% | Shares |
| 325 CAPITAL LLC | $64,772,932 | 3,412,694 | 2.11% | Shares |
| Nine Ten Capital Management LLC | $61,899,000 | 3,261,283 | 2.01% | Shares |
| Granahan Investment Management, LLC | $58,519,345 | 3,083,211 | 1.90% | Shares |
| CANADA PENSION PLAN INVESTMENT BOARD | $56,846,865 | 2,995,093 | 1.85% | Shares |
| JANE STREET GROUP, LLC | $41,740,645 | 2,199,191 | 1.36% | Shares |
| Park West Asset Management LLC | $37,960,000 | 2,000,000 | 1.23% | Shares |
| MORGAN STANLEY | $37,803,076 | 1,991,732 | 1.23% | Shares |
| Qube Research & Technologies Ltd | $37,124,671 | 1,955,989 | 1.21% | Shares |
| Blue Grotto Capital, LLC | $32,393,945 | 1,706,741 | 1.05% | Shares |
| KENNEDY CAPITAL MANAGEMENT LLC | $31,635,845 | 1,666,799 | 1.03% | Shares |
| NORTHERN TRUST CORP | $29,483,760 | 1,553,412 | 0.96% | Shares |
| Caption Management, LLC | $28,470,000 | 1,500,000 | 0.93% | Put option |
| ROYCE & ASSOCIATES LP | $27,965,075 | 1,473,397 | 0.91% | Shares |
| GOLDMAN SACHS GROUP INC | $27,836,827 | 1,466,640 | 0.90% | Shares |
| Ophir Asset Management Pty Ltd | $27,522,158 | 1,450,061 | 0.89% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $23,447,589 | 1,235,384 | 0.76% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $22,836,527 | 1,203,189 | 0.74% | Shares |
| BANK OF AMERICA CORP /DE/ | $22,431,171 | 1,181,832 | 0.73% | Shares |
| CITADEL ADVISORS LLC | $22,174,334 | 1,168,300 | 0.72% | Put option |
| GRIZZLYROCK CAPITAL, LLC | $22,104,639 | 1,164,628 | 0.72% | Shares |
| Bank of New York Mellon Corp | $22,058,518 | 1,162,198 | 0.72% | Shares |
| Maestria Partners LLC | $21,987,001 | 1,158,430 | 0.71% | Shares |
| Meros Investment Management, LP | $18,815,538 | 991,335 | 0.61% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $18,772,966 | 989,092 | 0.61% | Shares |
| Walleye Trading LLC | $15,709,746 | 827,700 | 0.51% | Call option |
| MILLENNIUM MANAGEMENT LLC | $14,516,265 | 764,819 | 0.47% | Shares |
| PICTON MAHONEY ASSET MANAGEMENT | $14,235,000 | 750,000 | 0.46% | Call option |
| QVT Financial LP | $14,186,354 | 747,437 | 0.46% | Shares |
| UBS Group AG | $14,165,723 | 746,350 | 0.46% | Shares |
| BANK OF MONTREAL /CAN/ | $14,045,200 | 740,000 | 0.46% | Call option |
| OBERWEIS ASSET MANAGEMENT INC/ | $13,950,300 | 735,000 | 0.45% | Shares |
| SILVERCREST ASSET MANAGEMENT GROUP LLC | $13,433,076 | 707,749 | 0.44% | Shares |
| PICTON MAHONEY ASSET MANAGEMENT | $13,124,123 | 691,471 | 0.43% | Shares |
| Kopion Asset Management, LLC | $12,801,080 | 674,451 | 0.42% | Shares |
| First Eagle Investment Management, LLC | $12,731,556 | 670,788 | 0.41% | Shares |
| Balyasny Asset Management L.P. | $12,651,195 | 666,554 | 0.41% | Shares |
Activists & 5%+ owners 1 position
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Edenbrook Capital, LLC, Jonathan Brolin ×2 filings | July 14, 2023 | · | Initial filing | · | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
Company insiders 37 insiders · 19 officers · 16 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Michael G. Barrett | CEO | Aug. 15, 2026 F | 392,670 | 0 | 5 | $-13,639,790 |
| Brian Gephart | CHIEF FINANCIAL OFFICER | Oct. 1, 2026 A | 167,010 | 0 | 1 | $-307,982 |
| David Day | CHIEF FINANCIAL OFFICER | Aug. 15, 2026 F | 452,861 | 0 | 0 | $0 |
| Todd L Tappin | CFO & COO | May 17, 2016 M | 441,327 | 0 | 0 | $0 |
| Katie Seitz Evans | President, Product & Operations | Sept. 11, 2026 S | 441,800 | 0 | 4 | $-1,839,229 |
| Sean Patrick Buckley | President, Revenue & Market Strategy | Aug. 18, 2026 S | 293,060 | 0 | 8 | $-2,776,475 |
| Mark Zagorski | President & COO | April 1, 2020 A | 436,917 | 0 | 0 | $0 |
| Haas Sullivan | CHIEF ACCOUNTING OFFICER | Oct. 1, 2026 A | 97,554 | 0 | 0 | $0 |
| David Buonasera | CHIEF TECHNOLOGY OFFICER | Sept. 14, 2026 S | 245,155 | 0 | 12 | $-840,595 |
| Aaron Saltz | CHIEF LEGAL OFFICER | Sept. 10, 2026 S | 224,389 | 0 | 1 | $-936,400 |
| Adam Lee Soroca | CHIEF PRODUCT OFFICER | Feb. 18, 2026 S | 388,425 | 0 | 3 | $-685,138 |
| James Allen Dove | Chief Technology Officer | Aug. 15, 2022 F | 191,071 | 0 | 0 | $0 |
| Joseph R Prusz | Chief Revenue Officer, DV+ | Feb. 15, 2022 F | 311,083 | 0 | 0 | $0 |
| Thomas Kershaw | Chief Technology Officer | May 17, 2021 S | 473,763 | 0 | 0 | $0 |
| Eve Filip | Officer | July 29, 2020 A | 213,207 | 0 | 0 | $0 |
| Blima Tuller | Chief Accounting Officer | May 20, 2020 S | 155,402 | 0 | 0 | $0 |
| Jonathan Feldman | Co-General Counsel & Secretary | Jan. 16, 2020 S | 79,771 | 0 | 0 | $0 |
| Brian W Copple | General Counsel and Secretary | May 15, 2018 F | 277,524 | 0 | 0 | $0 |
| Harry Patz Jr | Chief Revenue Officer | Jan. 3, 2017 S | 100,000 | 0 | 0 | $0 |
| Paul Caine | Director | Sept. 17, 2026 S | 137,401 | 0 | 6 | $-828,850 |
| Douglas S Knopper | Director | Sept. 17, 2026 S | 51,136 | 0 | 4 | $-2,674,662 |
| Robert F Spillane | Director | Sept. 14, 2026 M | 57,715 | 0 | 3 | $-557,275 |
| Sarah Patricia Harden | Director | Aug. 28, 2026 S | 114,751 | 0 | 2 | $-1,154,584 |
| Rachel Lam | Director | Aug. 10, 2026 S | 230,620 | 0 | 1 | $-241,600 |
| David T. Pearson | Director | June 10, 2026 S | 79,001 | 0 | 1 | $-168,488 |
| Diane Yu | Director | June 8, 2026 A | 81,279 | 0 | 0 | $0 |
| James Rossman | Director | June 8, 2026 A | 107,477 | 0 | 0 | $0 |
| Robert J Frankenberg | Director | June 14, 2023 A | 119,090 | 0 | 0 | $0 |
| Lisa L Troe | Director | June 8, 2023 S | 114,218 | 0 | 0 | $0 |
| Frank Addante | Director | March 16, 2020 S | 1,134,819 | 0 | 0 | $0 |
| Lewis W Coleman | Director | May 15, 2019 A | 55,703 | 0 | 0 | $0 |
| Sumant Mandal | Director | Feb. 25, 2019 J | 1,548,980 | 0 | 0 | $0 |
| Gregory R Raifman | Director | May 15, 2017 F | 420,459 | 0 | 0 | $0 |
| Jarl Mohn | Director | April 7, 2014 C | 355,850 | 0 | 0 | $0 |
| NEWS CORP | 10% owner | April 7, 2014 C | 4,746,349 | 0 | 0 | $0 |
| Shawna Hughes | · | May 17, 2021 S | 178,129 | 0 | 0 | $0 |
| CLEARSTONE VENTURE PARTNERS III-A LP | · | May 22, 2015 J | 5,570,406 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 51 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| CBSE · Elevation Series Trust | 3.02% | 80,985 NS | July 31, 2026 | N-PORT |
| CBLS · Elevation Series Trust | 2.79% | 80,436 NS | July 31, 2026 | N-PORT |
| SMCO · Tidal Trust II | 1.61% | 118,364 NS | July 31, 2026 | N-PORT |
| HAPS · Harbor ETF Trust | 0.40% | 35,633 NS | July 31, 2026 | N-PORT |
| DWAS · Invesco Exchange-Traded Fund Trust … | 0.38% | 61,405 SH | Oct. 2, 2026 | Daily |
| FYC · First Trust Exchange-Traded AlphaDE… | 0.27% | 184,936 NS | July 31, 2026 | N-PORT |
| GGME · Invesco Exchange-Traded Fund Trust | 0.22% | 3,890 SH | Oct. 2, 2026 | Daily |
| NUSC · Nushares ETF Trust | 0.21% | 138,913 NS | July 31, 2026 | N-PORT |
| FCOM · FIDELITY COVINGTON TRUST | 0.17% | 153,580 NS | July 31, 2026 | N-PORT |
| VOX · VANGUARD WORLD FUND | 0.16% | 515,624 SH | Aug. 19, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.13% | 140,417 SH | Oct. 2, 2026 | Daily |
| IWO · iShares Trust | 0.13% | 797,496 SH | Sept. 11, 2026 | Daily |
| JPSE · J.P. Morgan Exchange-Traded Fund Tr… | 0.13% | 38,732 NS | July 31, 2026 | N-PORT |
| IWM · iShares Trust | 0.11% | 3,696,072 SH | Sept. 11, 2026 | Daily |
| BBSC · J.P. Morgan Exchange-Traded Fund Tr… | 0.10% | 35,602 NS | July 31, 2026 | N-PORT |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.09% | 90,385 SH | Aug. 19, 2026 | Daily |
| RSSL · Global X Funds | 0.09% | 69,141 NS | July 31, 2026 | N-PORT |
| DFSV · Dimensional ETF Trust | 0.09% | 378,106 NS | July 31, 2026 | N-PORT |
| ESML · iShares Trust | 0.09% | 101,930 SH | Sept. 11, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.08% | 830,797 SH | Aug. 19, 2026 | Daily |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.07% | 52,262 SH | Aug. 19, 2026 | Daily |
| FYX · First Trust Exchange-Traded AlphaDE… | 0.06% | 45,960 NS | July 31, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.06% | 495,924 NS | July 31, 2026 | N-PORT |
| FAD · First Trust Exchange-Traded AlphaDE… | 0.06% | 16,754 NS | July 31, 2026 | N-PORT |
| ISCG · iShares Trust | 0.05% | 20,457 SH | Sept. 11, 2026 | Daily |
| VBR · VANGUARD INDEX FUNDS | 0.05% | 1,982,413 SH | Aug. 19, 2026 | Daily |
| VFVA · VANGUARD WELLINGTON FUND | 0.05% | 22,088 SH | Aug. 19, 2026 | Daily |
| DXUV · Dimensional ETF Trust | 0.04% | 11,396 NS | July 31, 2026 | N-PORT |
| DFAT · Dimensional ETF Trust | 0.03% | 226,588 NS | July 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.03% | 1,643,986 SH | Aug. 19, 2026 | Daily |
| VB · VANGUARD INDEX FUNDS | 0.03% | 3,111,381 SH | Aug. 19, 2026 | Daily |
| WSML · iShares Trust | 0.03% | 8,428 SH | Sept. 11, 2026 | Daily |
| OMFS · Invesco Exchange-Traded Self-Indexe… | 0.02% | 1,773 SH | Oct. 2, 2026 | Daily |
| DFAC · Dimensional ETF Trust | 0.01% | 357,654 NS | July 31, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.01% | 22,372 NS | July 31, 2026 | N-PORT |
| DFUV · Dimensional ETF Trust | 0.01% | 89,534 NS | July 31, 2026 | N-PORT |
| DFSU · Dimensional ETF Trust | 0.01% | 6,949 NS | July 31, 2026 | N-PORT |
| DFAU · Dimensional ETF Trust | 0.01% | 35,616 NS | July 31, 2026 | N-PORT |
| ITOT · iShares Trust | 0.00% | 193,685 SH | Sept. 11, 2026 | Daily |
| IWV · iShares Trust | 0.00% | 34,912 SH | Sept. 8, 2026 | Daily |
| DFUS · Dimensional ETF Trust | 0.00% | 44,307 NS | July 31, 2026 | N-PORT |
| TILT · FlexShares Trust | 0.00% | 4,212 NS | July 31, 2026 | N-PORT |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 4,327,987 SH | Aug. 19, 2026 | Daily |
| VT · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.00% | 114,391 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 11,516 SH | Aug. 19, 2026 | Daily |
| ESGV · VANGUARD WORLD FUND | 0.00% | 31,708 SH | Aug. 19, 2026 | Daily |
| IWN · iShares Trust | · | 561,762 SH | Sept. 11, 2026 | Daily |
| SVAL · iShares Trust | · | 47,447 SH | Sept. 3, 2026 | Daily |
| ISCB · iShares Trust | · | 5,919 SH | Sept. 11, 2026 | Daily |
| ISCV · iShares Trust | · | 14,801 SH | Sept. 11, 2026 | Daily |
| SMLF · iShares Trust | · | 44,751 SH | Sept. 11, 2026 | Daily |
MGNI Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 22 analysts
BUY
Median target
$28.00
+13.2%
5 22.7%
Strong Buy
14 63.6%
Buy
3 13.6%
Hold
0 0.0%
Sell
0 0.0%
Strong Sell
12-Month Price Target
15 analysts · 2026-09-30Mean target $29.67 +20.0%
Now
Current price $24.73
Low$21.00
Mean$29.67
High$43.00
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| MGNI | $2.32B | 17.1 | 6.9% | 20.3% | 17.1% | · |
| OMC | $25.28B | -299.1 | 10.1% | -0.32% | -0.67% | · |
| TTD | $18.07B | 42.2 | 18.5% | 15.3% | 17.1% | · |
| NIQ | $4.86B | -12.5 | 5.7% | -8.4% | -67.4% | · |
| DV | $1.85B | 38.1 | 13.9% | 6.8% | 4.6% | · |
| STGW | · | -1.4 | 2.4% | 1.0% | 5.3% | · |
| CCO | · | 55.2 | 6.6% | · | · | · |
| IBTA | $740M | 189.4 | -6.8% | 1.0% | 1.1% | 79.2% |
| PUBM | · | -28.6 | -2.9% | -5.1% | -5.7% | 63.6% |
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Source: SEC 10-Q filed Aug 5, 2026