Saltz Aaron sold $936K of MGNI

Magnite reported Q3 2026 net income of $34.0M, up 70% YoY, with revenue rising 14% to $204.2M. CTV (streaming TV) grew 39% and accounted for 53% of total contribution. Political ads contributed significantly, but growth is expected to slow post-election. Adjusted EBITDA rose 46% to $83.4M, with margins improving to 42%.

AppLovin reported $2.19B Q3 revenue, up 55% YoY, with net income of $1.44B, up 72%. Unity reported $622M revenue, up 32%. Magnite, Criteo, Taboola, and Teads showed mixed results. CTV growth was notable for Magnite and Teads. Profitability varied across companies.

Magnite (MGNI) reported strong Q3 2026 results, exceeding expectations with $201M in total contribution ex-TAC, 39% CTV growth, and 5% DV+ growth. Political ad spend surpassed forecasts at $12M, with full-year expectations raised to $40M. Adjusted EBITDA margin reached 42%. The company expects continued momentum, driven by CTV growth, partnerships, and political ad spend, with long-term CTV growth projected at 25% annually.

AppLovin (APP) surged 30% after reporting Q3 2026 revenue of $2.18B, beating estimates, and raising its share repurchase authorization to $3.6B. The company guided Q4 revenue above consensus, citing strong growth in its ad business. Magnite (MGNI) rose 17% on strong results, while The Trade Desk (TTD) fell 2% on weak Q2 performance. Unity (U) gained 10% after reporting its first GAAP profitable quarter.

Scotiabank raised its price target on Magnite (MGNI) to $30 from $27, citing strong Q3 earnings and Q4 guidance. The company reported Q3 revenue of $204.2M, EBITDA of $83.4M, and raised its full-year outlook. Management expects top-line growth over 15% in 2027, excluding political advertising, with EBITDA margins of at least 38.5%.

Magnite (MGNI) reported strong Q3 2026 results, with CEO Michael Barrett citing broad-based growth in CTV and DV+. The company raised its 2026 contribution ex-TAC growth outlook to ~17% and expects adjusted EBITDA margin of at least 38.5% by 2027.