Magnite Due Diligence

Run due diligence on Magnite: check compliance and get alerts when suppliers change.

United States · www.magnite.com · 17 vendors

Magnite is the world's largest independent sell-side advertising platform, providing technology solutions for the automated purchase and sale of digital advertising inventory. It enables publishers to monetize their content across various formats, including Connected TV (CTV), online video, display, and audio. The company connects media owners with buyers and agencies globally to facilitate programmatic advertising transactions.

Resilience scores

Technology vendors

Services catalogue

6 services in catalogue across 3 categories; runs on 17 sub-vendors.

Insights

Last updated 2026-09-13 · revision 1

17 direct vendors, 184 subvendors

Direct vendors by controlling owner country (sample)

Subvendors by controlling owner country (sample)

Compliance

10 in-scope frameworks identified; showing 3.

IAB Europe TCF 2.0 — Evidence found

Evidence: https://www.magnite.com/legal/advertising-platform-privacy-policy/, https://www.magnite.com/trust-center/

GDPR (source) — Evidence found

Evidence: https://www.magnite.com/legal/advertising-platform-privacy-policy/, https://www.magnite.com/trust-center/, https://www.magnite.com/legal/data-protection-framework/, https://www.magnite.com/legal/user-choice-portal/, https://www.magnite.com/locations/

EU-US Data Privacy Framework — Evidence found

Evidence: https://www.magnite.com/legal/advertising-platform-privacy-policy/, https://www.magnite.com/legal/data-protection-framework/, https://www.dataprivacyframework.gov/

Financials

Three-year financials

Financial Resilience Score: 7/10

Magnite has demonstrated strong financial resilience through its position as the world's largest independent sell-side advertising platform (SSP). The company has grown revenue approximately 3x from 2020 to 2024, driven by the SpotX acquisition and organic CTV growth. In FY2024, Magnite achieved GAAP operating profitability for the first time after years of losses, with record Adjusted EBITDA of approximately $194M, up from $164M in FY2023. The company generates positive free cash flow and has been actively paying down term-loan debt from the SpotX acquisition, materially improving its leverage ratio. Key strengths include its independence from walled-garden competitors (Google, Amazon, Meta), which is a competitive differentiator with publishers, and its rapidly growing CTV segment with major partnerships including Netflix, Disney/Hulu, Roku, LG Ads, Samsung, Warner Bros. Discovery, Paramount, and Fox. Revenue is recurring and take-rate based, tied to ad spend flowing through its platform. However, risks include customer concentration in CTV with major streaming partners like Disney and Netflix being individually material, exposure to macro ad-spend cycles, lower margins on DV+ segment, large goodwill and intangibles on the balance sheet creating impairment risk, and meaningful share-based compensation relative to GAAP profit. The potential outcome of the U.S. DOJ ad-tech antitrust case against Google could reshape competitive dynamics either favorably or unfavorably.

Key strengths: Largest independent SSP globally, not owned by walled-garden competitors, CTV growth engine with major streaming partnerships (Netflix, Disney, Roku), Turned GAAP operating profitable in FY2024 after years of losses, Positive free cash flow generation, Active debt reduction from SpotX acquisition, Record Adjusted EBITDA of ~$194M in FY2024, Recurring take-rate based platform revenue, 3x revenue expansion from 2020-2024

Risk factors: Customer concentration in CTV with Disney and Netflix individually material, Google antitrust case could reshape competitive dynamics uncertainly, Macro ad-spend sensitivity and cyclical exposure, Lower margins and slower growth on DV+ segment, Large goodwill and intangibles create impairment risk, Meaningful share-based compensation relative to GAAP profit, The Trade Desk represents >30% of gross ad spend processed

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