$MGNI
Magnite Inc

2024 Q3 Form 10-Q Financial Statement

#000159597424000032 Filed on August 07, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2023 Q2
Revenue $162.0M $162.9M $152.5M
YoY Change 7.94% 6.78% 10.71%
Cost Of Revenue $62.54M $62.61M $130.2M
YoY Change -26.31% -51.91% 100.27%
Gross Profit $99.46M $100.3M $22.37M
YoY Change 52.53% 348.29% -69.27%
Gross Profit Margin 61.39% 61.56% 14.66%
Selling, General & Admin $64.08M $64.87M $70.78M
YoY Change 7.67% -8.35% 32.83%
% of Gross Profit 64.42% 64.69% 316.43%
Research & Development $20.26M $25.83M $23.38M
YoY Change -13.92% 10.46% 2.54%
% of Gross Profit 20.37% 25.76% 104.54%
Depreciation & Amortization $4.000M $3.600M $88.94M
YoY Change -89.82% -95.95% 92.68%
% of Gross Profit 4.02% 3.59% 397.62%
Operating Expenses $84.34M $90.70M $94.16M
YoY Change 1.55% -3.68% -1.29%
Operating Profit $15.12M $9.574M -$71.80M
YoY Change -184.76% -113.34% 217.52%
Interest Expense -$9.867M -$7.309M -$8.216M
YoY Change 61.75% -11.04% 160.49%
% of Operating Profit -65.24% -76.34%
Other Income/Expense, Net -$8.880M -$6.025M -$1.431M
YoY Change 1377.54% 321.03% -205.3%
Pretax Income $6.243M $3.549M -$73.23M
YoY Change -133.85% -104.85% 192.23%
Income Tax $1.000M $4.600M $700.0K
% Of Pretax Income 16.02% 129.61%
Net Earnings $5.214M -$1.078M -$73.89M
YoY Change -129.83% -98.54% 196.1%
Net Earnings / Revenue 3.22% -0.66% -48.44%
Basic Earnings Per Share $0.04 -$0.01 -$0.54
Diluted Earnings Per Share $0.04 -$0.01 -$0.54
COMMON SHARES
Basic Shares Outstanding 141.1M shares 140.0M shares 135.6M shares
Diluted Shares Outstanding 148.7M shares 140.6M shares 136.2M shares

Balance Sheet

Concept 2024 Q3 2024 Q2 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $387.2M $326.5M $266.4M
YoY Change 24.72% 22.56% 14.25%
Cash & Equivalents $387.2M $326.5M $266.4M
Short-Term Investments
Other Short-Term Assets $22.32M $19.38M $22.12M
YoY Change 3.8% -12.42% -2.1%
Inventory
Prepaid Expenses
Receivables $1.164B $1.122B $908.4M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.573B $1.468B $1.197B
YoY Change 23.97% 22.67% 4.82%
LONG-TERM ASSETS
Property, Plant & Equipment $64.55M $62.94M $46.28M
YoY Change 39.99% 36.0% -58.71%
Goodwill $978.2M $978.2M $978.2M
YoY Change 0.0% 0.0%
Intangibles $28.35M $35.85M $88.39M
YoY Change -51.65% -59.44%
Long-Term Investments
YoY Change
Other Assets $9.145M $11.01M $7.020M
YoY Change 36.78% 56.81% -2.08%
Total Long-Term Assets $1.165B $1.175B $1.211B
YoY Change -0.96% -2.96% -18.22%
TOTAL ASSETS
Total Short-Term Assets $1.573B $1.468B $1.197B
Total Long-Term Assets $1.165B $1.175B $1.211B
Total Assets $2.738B $2.643B $2.408B
YoY Change 11.98% 9.78% -8.19%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.367B $1.280B $1.007B
YoY Change 25.86% 27.17% 5.57%
Accrued Expenses $36.46M $39.23M $37.25M
YoY Change 1.57% 5.31% -4.67%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $3.641M $3.650M $3.600M
YoY Change 1.14% 1.39% 0.0%
Total Short-Term Liabilities $1.414B $1.329B $1.054B
YoY Change 24.98% 26.1% 5.17%
LONG-TERM LIABILITIES
Long-Term Debt $550.2M $549.0M $635.0M
YoY Change -8.55% -13.54% -11.97%
Other Long-Term Liabilities $1.632M $1.522M $1.847M
YoY Change -9.38% -17.6% -97.2%
Total Long-Term Liabilities $551.8M $550.5M $636.9M
YoY Change -8.55% -13.56% -19.11%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.414B $1.329B $1.054B
Total Long-Term Liabilities $551.8M $550.5M $636.9M
Total Liabilities $2.012B $1.930B $1.755B
YoY Change 12.22% 9.97% -2.55%
SHAREHOLDERS EQUITY
Retained Earnings -$697.6M -$702.8M -$697.4M
YoY Change -2.42% 0.77%
Common Stock $2.000K $2.000K $2.000K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $725.9M $713.0M $652.6M
YoY Change
Total Liabilities & Shareholders Equity $2.738B $2.643B $2.408B
YoY Change 11.98% 9.78% -8.19%

Cashflow Statement

Concept 2024 Q3 2024 Q2 2023 Q2
OPERATING ACTIVITIES
Net Income $5.214M -$1.078M -$73.89M
YoY Change -129.83% -98.54% 196.1%
Depreciation, Depletion And Amortization $4.000M $3.600M $88.94M
YoY Change -89.82% -95.95% 92.68%
Cash From Operating Activities $91.35M $89.57M $74.12M
YoY Change 11.26% 20.85% 75.13%
INVESTING ACTIVITIES
Capital Expenditures $18.11M $13.30M $11.07M
YoY Change 166.37% 20.21% -304.11%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities -$18.11M -$13.30M -$11.07M
YoY Change 166.37% 20.21% 104.11%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -13.80M -2.545M -33.23M
YoY Change -55.05% -92.34% 362.79%
NET CHANGE
Cash From Operating Activities 91.35M 89.57M 74.12M
Cash From Investing Activities -18.11M -13.30M -11.07M
Cash From Financing Activities -13.80M -2.545M -33.23M
Net Change In Cash 59.43M 73.72M 29.82M
YoY Change 33.26% 147.2% 0.35%
FREE CASH FLOW
Cash From Operating Activities $91.35M $89.57M $74.12M
Capital Expenditures $18.11M $13.30M $11.07M
Free Cash Flow $73.24M $76.26M $63.05M
YoY Change -2.74% 20.96% 32.06%

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us-gaap Payment For Contingent Consideration Liability Financing Activities
PaymentForContingentConsiderationLiabilityFinancingActivities
2313000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-5646000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-85037000 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-709000 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
257000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
245000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-60091000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
326219000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
326502000 usd
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
326464000 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
266411000 usd
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
326464000 usd
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
266364000 usd
CY2024Q2 us-gaap Restricted Cash Current
RestrictedCashCurrent
0 usd
CY2023Q2 us-gaap Restricted Cash Current
RestrictedCashCurrent
47000 usd
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
326464000 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
266411000 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
1938000 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
3069000 usd
us-gaap Interest Paid Net
InterestPaidNet
17854000 usd
us-gaap Interest Paid Net
InterestPaidNet
17944000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
9132000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1382000 usd
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
1298000 usd
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
1092000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
11020000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
3277000 usd
us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-bottom:6pt;margin-top:5pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-bottom:5pt;margin-top:5pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported and disclosed financial statements and accompanying footnotes. </span><span style="color:#212529;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Actual results could differ materially from these estimates.</span></div><div style="margin-bottom:5pt;margin-top:5pt;text-indent:36pt"><span style="color:#212529;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In connection with the Company's periodic review of the estimated useful lives of its property and equipment, the Company extended the estimated useful lives of its network hardware assets from three years to five years effective January 1, 2024. The change in estimated useful lives were due to actual and expected longer refresh cycles for these assets. Based on the carrying value of network hardware assets as of December 31, 2023 and those placed in service during the </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">six months ended June 30, 2024</span><span style="color:#212529;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, the effect of this change in estimate was an increase in income from operations of </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$2.9 million and a decrease in loss from operations of $6.5 million for the three and six months ended June 30, 2024, respectively, and </span><span style="color:#212529;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">a decrease in net loss of </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$5.5 million</span><span style="color:#212529;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, or </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$0.04</span><span style="color:#212529;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> per basic and diluted share, and a decrease in net loss of </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$3.5 million</span><span style="color:#212529;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, or </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$0.02</span><span style="color:#212529;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> per basic and diluted share for the </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">three and six months ended</span><span style="color:#212529;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">June 30, 2024, respectively</span><span style="color:#212529;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. The updated policy reflecting the change in estimated useful lives is below.</span></div>
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
-1078000 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-73889000 usd
us-gaap Net Income Loss
NetIncomeLoss
-18835000 usd
us-gaap Net Income Loss
NetIncomeLoss
-172621000 usd
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
140551000 shares
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
140551000 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
136164000 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
136164000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
139924000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
139924000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
135429000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
135429000 shares
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.01
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.01
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.54
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.54
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.13
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.13
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.27
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.27
CY2024Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
8237000 shares
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
9393000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7942000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
9524000 shares
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
162880000 usd
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
152543000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
312199000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
282693000 usd
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
162880000 usd
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
152543000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
312199000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
282693000 usd
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
162880000 usd
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
152543000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
312199000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
282693000 usd
mgni Revenue Payment Terms
RevenuePaymentTerms
P75D
CY2024Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
2700000 usd
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
20400000 usd
CY2024Q2 mgni Accounts Payable Seller
AccountsPayableSeller
2000000.0 usd
CY2023Q4 mgni Accounts Payable Seller
AccountsPayableSeller
1100000 usd
CY2024Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
2467000 usd
CY2023Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
1662000 usd
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
20363000 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
1092000 usd
CY2024Q2 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
423000 usd
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
727000 usd
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
18934000 usd
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
743000 usd
CY2024Q2 mgni Accounts Receivable Credit Loss Expense Reversal Gross
AccountsReceivableCreditLossExpenseReversalGross
609000 usd
CY2023Q2 mgni Accounts Receivable Credit Loss Expense Reversal Gross
AccountsReceivableCreditLossExpenseReversalGross
18708000 usd
mgni Accounts Receivable Credit Loss Expense Reversal Gross
AccountsReceivableCreditLossExpenseReversalGross
1224000 usd
mgni Accounts Receivable Credit Loss Expense Reversal Gross
AccountsReceivableCreditLossExpenseReversalGross
19294000 usd
CY2024Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
2653000 usd
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
19643000 usd
CY2024Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
2653000 usd
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
19643000 usd
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
18900000 usd
CY2024Q2 mgni Accounts Receivable Credit Loss Expense Reversal Gross
AccountsReceivableCreditLossExpenseReversalGross
600000 usd
mgni Accounts Receivable Credit Loss Expense Reversal Gross
AccountsReceivableCreditLossExpenseReversalGross
1200000 usd
CY2024Q2 mgni Increase Decrease In Accounts Payable Seller
IncreaseDecreaseInAccountsPayableSeller
500000 usd
mgni Increase Decrease In Accounts Payable Seller
IncreaseDecreaseInAccountsPayableSeller
900000 usd
CY2024Q2 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
200000 usd
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
300000 usd
CY2023Q2 mgni Accounts Receivable Credit Loss Expense Reversal Gross
AccountsReceivableCreditLossExpenseReversalGross
18700000 usd
mgni Accounts Receivable Credit Loss Expense Reversal Gross
AccountsReceivableCreditLossExpenseReversalGross
19300000 usd
CY2023Q2 mgni Increase Decrease In Accounts Payable Seller
IncreaseDecreaseInAccountsPayableSeller
14100000 usd
mgni Increase Decrease In Accounts Payable Seller
IncreaseDecreaseInAccountsPayableSeller
14600000 usd
CY2023Q2 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
4600000 usd
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
4600000 usd
CY2024Q2 mgni Accounts Payable Seller Current
AccountsPayableSellerCurrent
1248871000 usd
CY2023Q4 mgni Accounts Payable Seller Current
AccountsPayableSellerCurrent
1333242000 usd
CY2024Q2 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
31143000 usd
CY2023Q4 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
23844000 usd
CY2024Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
19217000 usd
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
15090000 usd
CY2024Q2 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
1299231000 usd
CY2023Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
1372176000 usd
CY2024Q2 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization
181549000 usd
CY2023Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization
163869000 usd
CY2024Q2 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization
118610000 usd
CY2023Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization
116498000 usd
CY2024Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
62939000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
47371000 usd
CY2024Q2 us-gaap Depreciation
Depreciation
3600000 usd
CY2023Q2 us-gaap Depreciation
Depreciation
5700000 usd
us-gaap Depreciation
Depreciation
6800000 usd
us-gaap Depreciation
Depreciation
11000000 usd
CY2024Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
62939000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
47371000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
156766000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
156966000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
120918000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
105955000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
35848000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
51011000 usd
CY2024Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
7600000 usd
CY2023Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
78700000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
15200000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
165100000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
14971000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
14445000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
6001000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
431000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
35848000 usd
mgni Restructuring Charges Merger And Acquisition Assumed Loss Contracts
RestructuringChargesMergerAndAcquisitionAssumedLossContracts
2190000 usd
mgni Restructuring Impairment Costs
RestructuringImpairmentCosts
506000 usd
mgni Restructuring Reserve And Merger Related Costs Settled Without Cash
RestructuringReserveAndMergerRelatedCostsSettledWithoutCash
143000 usd
mgni Restructuring Charges And Business Combination Acquisition Related Costs
RestructuringChargesAndBusinessCombinationAcquisitionRelatedCosts
7465000 usd
CY2023Q2 mgni Restructuring Charges And Business Combination Acquisition Related Costs
RestructuringChargesAndBusinessCombinationAcquisitionRelatedCosts
0 usd
CY2024Q2 mgni Restructuring Charges And Business Combination Acquisition Related Costs
RestructuringChargesAndBusinessCombinationAcquisitionRelatedCosts
0 usd
mgni Restructuring Charges And Business Combination Acquisition Related Costs
RestructuringChargesAndBusinessCombinationAcquisitionRelatedCosts
0 usd
mgni Restructuring Charges And Business Combination Acquisition Related Costs
RestructuringChargesAndBusinessCombinationAcquisitionRelatedCosts
7500000 usd
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4262000 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
8.65
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
130000 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
9.20
mgni Sharebased Compensation Arrangementby Sharebased Payment Award Options Exercisesin Period Gross
SharebasedCompensationArrangementbySharebasedPaymentAwardOptionsExercisesinPeriodGross
32000 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
5.79
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
98000 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
14.82
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4262000 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
8.55
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y1M6D
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
26600000 usd
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
3737000 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
7.72
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P4Y8M12D
CY2024Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
25829000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
200000 usd
CY2024Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
19660000 usd
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
18707000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
40491000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
37994000 usd
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
17311016 shares
CY2024Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4600000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-3200000 usd
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
700000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
400000 usd
CY2024Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
5900000 usd
CY2023Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
6400000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
11600000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
12900000 usd
CY2024Q2 us-gaap Lease Cost
LeaseCost
600000 usd
CY2023Q2 us-gaap Lease Cost
LeaseCost
900000 usd
us-gaap Lease Cost
LeaseCost
1500000 usd
us-gaap Lease Cost
LeaseCost
1700000 usd
CY2024Q2 us-gaap Sublease Income
SubleaseIncome
1300000 usd
CY2023Q2 us-gaap Sublease Income
SubleaseIncome
1400000 usd
us-gaap Sublease Income
SubleaseIncome
2600000 usd
us-gaap Sublease Income
SubleaseIncome
2700000 usd
CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0619
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0619
CY2024Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y9M18D
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y2M12D
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
12942000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
19766000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
15735000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
10122000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
7840000 usd
CY2024Q2 mgni Lessee Operating Lease Liability To Be Paid Due After Year Four
LesseeOperatingLeaseLiabilityToBePaidDueAfterYearFour
14360000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
80765000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
10457000 usd
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
70308000 usd
CY2024Q2 us-gaap Contractual Obligation Future Minimum Payments Due Remainder Of Fiscal Year
ContractualObligationFutureMinimumPaymentsDueRemainderOfFiscalYear
4554000 usd
CY2024Q2 us-gaap Contractual Obligation Due In Next Twelve Months
ContractualObligationDueInNextTwelveMonths
5339000 usd
CY2024Q2 us-gaap Contractual Obligation Due In Second Year
ContractualObligationDueInSecondYear
1265000 usd
CY2024Q2 us-gaap Contractual Obligation Due In Third Year
ContractualObligationDueInThirdYear
515000 usd
CY2024Q2 us-gaap Contractual Obligation Due In Fourth Year
ContractualObligationDueInFourthYear
241000 usd
CY2024Q2 us-gaap Contractual Obligation
ContractualObligation
11914000 usd
CY2024Q2 us-gaap Debt Current
DebtCurrent
3650000 usd
CY2023Q4 us-gaap Debt Current
DebtCurrent
3600000 usd
CY2024Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
549025000 usd
CY2023Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
532986000 usd
CY2024Q2 us-gaap Long Term Debt
LongTermDebt
552675000 usd
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
536586000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
1825000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
3650000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
208717000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
3650000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
3650000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
347663000 usd
CY2024Q2 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
569155000 usd
CY2024Q2 mgni Amortization Of Debt Issuance Cost And Discount
AmortizationOfDebtIssuanceCostAndDiscount
900000 usd
mgni Amortization Of Debt Issuance Cost And Discount
AmortizationOfDebtIssuanceCostAndDiscount
1900000 usd
CY2023Q2 mgni Amortization Of Debt Issuance Cost And Discount
AmortizationOfDebtIssuanceCostAndDiscount
1500000 usd
mgni Amortization Of Debt Issuance Cost And Discount
AmortizationOfDebtIssuanceCostAndDiscount
3000000.0 usd
CY2024Q2 us-gaap Other Amortization Of Deferred Charges
OtherAmortizationOfDeferredCharges
100000 usd
us-gaap Other Amortization Of Deferred Charges
OtherAmortizationOfDeferredCharges
300000 usd
CY2023Q2 us-gaap Other Amortization Of Deferred Charges
OtherAmortizationOfDeferredCharges
100000 usd
us-gaap Other Amortization Of Deferred Charges
OtherAmortizationOfDeferredCharges
200000 usd
CY2021Q1 mgni Debt Instruments Capped Calls Transaction Costs
DebtInstrumentsCappedCallsTransactionCosts
39000000 usd
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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0001595974-24-000032.txt Edgar Link pending
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exhibit311q22024.htm Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
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mgni-20240630.htm Edgar Link pending
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mgni-20240630_cal.xml Edgar Link unprocessable
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