> ## Content Index
> Fetch the complete content index at: https://www.bullished.co/llms.txt
> Use this file to discover other available public pages before exploring further.

# Magnite Raises Its 2026 Outlook On All Key Metrics As Connected TV Contribution Climbs 39%
- URL: https://www.bullished.co/magnite-raises-its-2026-outlook-on-all-key-metrics-as-connected-tv-contribution-climbs-39-4c86c669/
- Published: 2026-11-05T00:11:01.000Z
- Updated: 2026-11-05T00:11:01.000Z
- Description: The ad-tech company now expects political spending near three times its first forecast, and lifted full-year growth to about 17%.
- Author: Matteo Parrino
- Tags: SEC Filings, MGNI, Industry: Technology

Magnite, which runs technology that automates the buying and selling of digital ad space, raised every key 2026 target after [third-quarter net income rose 70% to $34.0 million](https://www.sec.gov/Archives/edgar/data/0001595974/000159597426000039/a991-earningsq32026.htm?ref=bullished.co), the company said Wednesday. Management now expects full-year political spending of nearly three times its initial forecast.

## A quarter that cleared its own guidance

Net income was $0.23 per diluted share, against $20.1 million, or $0.13 per share, a year earlier. Revenue rose 14% to $204.2 million, according to the [8-K](https://www.sec.gov/Archives/edgar/data/0001595974/000159597426000039/mgni-20261104.htm?ref=bullished.co).

Contribution ex-TAC, which is revenue after paying publishers for ad inventory, [reached $200.6 million](https://www.globenewswire.com/news-release/2026/11/04/3395842/0/en/magnite-reports-third-quarter-2026-results.html?ref=bullished.co), up 20% and above the top of the company's $188 million to $192 million guidance. Connected TV contribution ex-TAC grew 39% to $105.4 million, beating its $98 million to $100 million range, while the DV+ business rose 5% to $95.3 million, above a $90 million to $92 million range.

Adjusted EBITDA climbed 46% to [$83.4 million](https://www.globenewswire.com/news-release/2026/11/04/3395842/0/en/magnite-reports-third-quarter-2026-results.html?ref=bullished.co), a 42% margin against 34% a year earlier. Operating cash flow was $68.0 million, and non-GAAP earnings per share were $0.33, up from $0.20.

## Streaming TV is now over half the business

Connected TV made up 53% of third-quarter contribution ex-TAC, versus 45% a year earlier. Magnite sells ad inventory for publishers across connected TV, apps, websites and other media, earning mostly a share of the ad spend that runs through its platform.

CEO Michael G. Barrett said the company outperformed political revenue expectations, "mostly in CTV," and that the results prompted it to "once again raise our full-year outlook across all key performance metrics."

## The raised targets

For the full year, Magnite now expects contribution ex-TAC growth of about 17%, up from 13% to 14%. It lifted adjusted EBITDA growth to about 30%, from more than 20%, and the adjusted EBITDA margin to about 38.5%, from at least 37%. Free cash flow growth is now above 60%, from the high 40% range.

For the fourth quarter, it guided total contribution ex-TAC to $227 million to $233 million, with connected TV at $124 million to $127 million and DV+ at $103 million to $106 million.

For 2027, the company targets growth of over 15% excluding political and without upside from Google remedies, or 10% on a total reported basis, with an adjusted EBITDA margin of at least 38.5%.

Magnite held its earnings call Wednesday at 4:30 p.m. ET, and its fourth-quarter guidance of $227 million to $233 million is the next number to test.

Learn

- [Item 2.02: results of operations →](https://www.bullished.co/learn/8-k-items-explained/#item-202-results-of-operations)  
From 8-K Items Explained: What Every Item Code From 1.01 To 9.01 Tells You, With Examples

### Sources

- [8-K Filing — MAGNITE, INC. (MGNI)](https://www.sec.gov/Archives/edgar/data/0001595974/000159597426000039/mgni-20261104.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit a991-earningsq32026.htm — MAGNITE, INC. 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0001595974/000159597426000039/a991-earningsq32026.htm?ref=bullished.co) — SEC EDGAR
- [Magnite Q3 2026 Earnings Call Transcript](https://www.benzinga.com/news/26/11/62899538/magnite-q3-2026-earnings-call-transcript?ref=bullished.co) — benzinga.com
- [Magnite Reports Third Quarter 2026 Results](https://www.globenewswire.com/news-release/2026/11/04/3395842/0/en/magnite-reports-third-quarter-2026-results.html?ref=bullished.co) — globenewswire.com