Filing Flows › Magnite (MGNI) › Q4 2025
Magnite (MGNI) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 25, 2026
Magnite (MGNI) reported revenue of $205M for the fourth quarter 2025 (Q4 2025), +6% from a year earlier and +14% from the quarter before. Operating margin was 25.3%, net earnings $123M (59.9% of revenue).
Magnite, Q4 2025: revenue $205M (+6% year over year), operating margin 25.3%, net earnings $123M, operating cash flow $128M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $205M | +14% | +6% |
| Operating profit | $52.0M | +108% | +29% |
| Net earnings | $123M | +513% | +238% |
| Operating cash flow | $128M | +48% | +12% |
| Free cash flow | $103M | +51% | -7% |
What changed
Revenue was $205.4M in Q4 2025, up 6% year over year and up 14% from the previous quarter.
Operating profit was $52.0M, a 25.3% margin (up 4.6 points year over year). Of the extra revenue versus a year earlier, 103% reached operating profit, above the 21% margin then. Total costs fell 0% while revenue rose 6%. Net earnings were $123.0M, up 238% year over year. The tax line was a benefit of $75.0M on pre-tax earnings of $48.1M.
Operating cash flow was $128.5M (up 12% year over year), 104% of net earnings. Non-cash charges added back $13.6M of depreciation and amortization and $17.8M of share-based compensation. Working capital and other items used $26.0M. Capital expenditures of $25.4M left free cash flow of $103.1M.
Questions
What was Magnite's revenue in the fourth quarter 2025?
Magnite (MGNI) reported revenue of $205M for the fourth quarter 2025 (Q4 2025), +6% from a year earlier and +14% from the quarter before.
Was Magnite profitable in the fourth quarter 2025?
Operating profit was $52.0M (25.3% of revenue) and net earnings $123M.
Source: Magnite 10-K on SEC EDGAR.