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Magnite cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$93.0M in Q3 2026 · $240M over twelve months

Operating cash flow$103M
Capital spending−$9.9M
Free cash flow+$93.0M
Cash / net income3.0×
Cash conversion cycle596 days

Analysis

In Q3 2026, Magnite generated $103M of operating cash flow and spent $9.9M on capital projects, leaving free cash flow of $93.0M. That is $24.6M more than in Q3 2025 ($68.4M).

Over the twelve months to Sep 30, 2026, operating cash flow was $297M; the largest uses were net borrowing (+) / repaid (−) ($205M), buybacks ($79.0M), capital spending ($56.8M); besides operations, cash came from shares issued ($6.9M); the cash balance fell by $89.3M.

Operating cash flow was $103M against net income of $34.0M — 3.0× profit, cash ran ahead of reported earnings. The largest differences: payables +$71.3M, receivables −$48.6M, stock-based pay +$16.5M.

Its cash conversion cycle was 596 days (receivables 634 + inventory 0 − payables 38).

Free cash flow

Magnite: free cash flow by quarterMagnite: free cash flow by quarter$111MQ4 2024−$11.8MQ1 2025$6.0MQ2 2025$68.4MQ3 2025$103MQ4 2025−$130MQ1 2026$174MQ2 2026$93.0MQ3 2026
Operating cash flow less capital spending.
Magnite: operating cash flow against capital spendingMagnite: operating cash flow against capital spendingOperating cash flowCapital spending$115M$3.7MQ4 2024$2.6M$14.4MQ1 2025$18.5M$12.5MQ2 2025$86.6M$18.2MQ3 2025$128M$25.4MQ4 2025−$121M$9.4MQ1 2026$187M$12.1MQ2 2026$103M$9.9MQ3 2026
Latest (Q3 2026): Operating cash flow $103M, Capital spending $9.9M.

Capital allocation, year by year

Magnite: where the cash came from (up) and went (down), by fiscal yearMagnite: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow $127MFY2021: Net borrowing $398MFY2021: Shares issued $9.4MFY2021: Capital spending −$17.7MFY2021: Acquisitions −$662MFY2021: Buybacks −$6.0M$534MFY2021FY2022: Operating cash flow $193MFY2022: Net borrowing −$4.4MFY2022: Shares issued $2.2MFY2022: Capital spending −$30.8MFY2022: Acquisitions −$20.8MFY2022: Buybacks −$15.7M$195MFY2022FY2023: Operating cash flow $214MFY2023: Net borrowing −$169MFY2023: Shares issued $2.2MFY2023: Capital spending −$26.8M$217MFY2023FY2024: Operating cash flow $235MFY2024: Net borrowing $10.3MFY2024: Shares issued $572KFY2024: Capital spending −$32.8MFY2024: Buybacks −$14.6M$246MFY2024FY2025: Operating cash flow $236MFY2025: Shares issued $3.1MFY2025: Capital spending −$70.5MFY2025: Acquisitions −$8.1MFY2025: Buybacks −$46.3M$239MFY2025
Over these 5 years operating cash flow totalled $1.0B; the largest uses were acquisitions ($691M) and capital spending ($179M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$393M
Debt$350M
Net cash$42.9M
Due within a year$209M

Magnite funds itself: free cash flow was $240M over the last twelve months, and $393M of cash and investments stands against $350M of debt ($209M due within a year, 1.9× covered by cash).

Magnite: debt maturities by year (FY2025)Magnite: debt maturities by year (FY2025)$209MYear 1$3.6MYear 2$3.6MYear 3$3.6MYear 4$3.6MYear 5$342MAfter year 5
Principal due in each year as disclosed in the annual report, against $393M of cash and investments now.

Where the cash came from and went

Magnite: sources (+) and uses (−) of cash, Q3 2026Magnite: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$103MCash drawn (+) / kept (−)−$60.2MBuybacks−$20.0MCapital spending−$9.9MTaxes on employees’ shares−$8.9MOther investing−$4.6MShares issued$2.8MOther financing−$1.9MExchange rates−$170K
Magnite: sources (+) and uses (−) of cash, TTM to Q3 2026Magnite: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$297MNet borrowing (+) / repaid (−)−$205MCash drawn (+) / kept (−)$89.3MBuybacks−$79.0MCapital spending−$56.8MTaxes on employees’ shares−$35.9MOther investing−$16.3MShares issued$6.9MOther financing−$414KExchange rates$68K

From profit to cash

Magnite: net income to operating cash flow, Q3 2026Magnite: net income to operating cash flow, Q3 2026Net income$34.0MDepreciation & amortization$13.9MStock-based pay$16.5MDeferred taxes−$2KReceivables−$48.6MPayables$71.3MPrepaid and other assets$3.2MOther liabilities$12.2MOperating cash flow$103M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 2026634—38596
Q2 2026664—46618
Q1 2026748—35713
Q4 2025564—28536
Q3 2025645—41605
Q2 2025619—39579
Q1 2025651—38612
Q4 2024561—36524

Every quarter

QuarterOperating cash flowCapital spendingBuybacksNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$103M−$9.9M−$20.0M—$2.8M−$60.2M$93.0M
Q2 2026$187M−$12.1M−$21.1M—$4.0M−$148M$174M
Q1 2026−$121M−$9.4M−$14.5M−$205M$26K$369M−$130M
Q4 2025$128M−$25.4M−$23.4M—$91K−$71.2M$103M
Q3 2025$86.6M−$18.2M——$1.3M−$56.1M$68.4M
Q2 2025$18.5M−$12.5M−$3.7M—$1.5M$3.7M$6.0M
Q1 2025$2.6M−$14.4M−$19.2M—$252K$53.5M−$11.8M
Q4 2024$115M−$3.7M−$5.6M—$204K−$96.0M$111M

Magnite: income statement and cash flow

Magnite, Q3 2026: revenue $204M (+14% year over year), operating margin 24.8%. The chart follows the revenue to costs, profit and cash.

Magnite: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.