10-Q Filing

MAGNITE, INC. CIK: 1595974 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001628280-17-004995`
Period End Date	20170331
Filing Date	20170505
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	rubi-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 38 Cash Flow Statement 52 Stockholders Equity 21 Comprehensive Income 12

Balance Sheet 68 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$149.37M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$116.50M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$136.57M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$149.42M	USD	Point-in-time
Marketable securities	`MarketableSecurities`	$40.55M	USD	Point-in-time
Marketable securities	`MarketableSecurities`	$38.60M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$192.06M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$133.57M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$11.52M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$9.54M	USD	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$391.58M	USD	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$333.06M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$36.25M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$33.21M	USD	Point-in-time
Internal use software development costs, net	`InternalUseSoftwareDevelopmentCostsNet`	$14.93M	USD	Point-in-time
Internal use software development costs, net	`InternalUseSoftwareDevelopmentCostsNet`	$16.52M	USD	Point-in-time
Common stock, par or stated value per share	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Other assets, non-current	`OtherAssetsNoncurrent`	$2.13M	USD	Point-in-time
Common stock, par or stated value per share	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Other assets, non-current	`OtherAssetsNoncurrent`	$2.92M	USD	Point-in-time
Common stock, par or stated value per share	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common stock, par or stated value per share	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$6.80M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$5.22M	USD	Point-in-time
Goodwill	`Goodwill`	$65.70M	USD	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	49.55M	shares	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	46.60M	shares	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	37.19M	shares	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	49.38M	shares	Point-in-time
Goodwill	`Goodwill`	$65.70M	USD	Point-in-time
Common stock, shares, outstanding	`CommonStockSharesOutstanding`	49.55M	shares	Point-in-time
TOTAL ASSETS	`Assets`	$519.77M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$454.25M	USD	Point-in-time
Common stock, shares, outstanding	`CommonStockSharesOutstanding`	49.38M	shares	Point-in-time
Common stock, shares, outstanding	`CommonStockSharesOutstanding`	46.60M	shares	Point-in-time
Common stock, shares, outstanding	`CommonStockSharesOutstanding`	37.19M	shares	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$214.90M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$158.84M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$3.16M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$3.53M	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$218.44M	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$161.99M	USD	Point-in-time
Deferred tax liability, net	`DeferredTaxLiabilitiesNoncurrent`	$42.00K	USD	Point-in-time
Deferred tax liability, net	`DeferredTaxLiabilitiesNoncurrent`	$42.00K	USD	Point-in-time
Other liabilities, non-current	`OtherLiabilitiesNoncurrent`	$1.68M	USD	Point-in-time
Other liabilities, non-current	`OtherLiabilitiesNoncurrent`	$1.78M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$220.26M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$163.71M	USD	Point-in-time
Commitments and contingencies (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.00001 par value, 10,000 shares authorized at March 31, 2017 and December 31, 2016; 0 shares issued and outstanding at March 31, 2017 and December 31, 2016	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.00001 par value, 10,000 shares authorized at March 31, 2017 and December 31, 2016; 0 shares issued and outstanding at March 31, 2017 and December 31, 2016	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.00001 par value; 500,000 shares authorized at March 31, 2017 and December 31, 2016; 49,547 and 49,378 shares issued and outstanding at March 31, 2017 and December 31, 2016, respectively	`CommonStockValue`	-	USD	Point-in-time
Common stock, $0.00001 par value; 500,000 shares authorized at March 31, 2017 and December 31, 2016; 49,547 and 49,378 shares issued and outstanding at March 31, 2017 and December 31, 2016, respectively	`CommonStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$398.79M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$405.56M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-273.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-180.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-99.00M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-114.84M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquity`	$299.51M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquity`	$290.54M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$519.77M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$454.25M	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	$46.02M	USD	1 Quarter
Revenue	`Revenues`	$69.23M	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	$14.69M	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	$16.78M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$14.63M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$21.28M	USD	1 Quarter
Technology and development	`ResearchAndDevelopmentExpense`	$12.75M	USD	1 Quarter
Technology and development	`ResearchAndDevelopmentExpense`	$12.44M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$15.08M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$20.61M	USD	1 Quarter
Restructuring and other exit costs	`RestructuringCharges`	$4.34M	USD	1 Quarter
Restructuring and other exit costs	`RestructuringCharges`	-	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$71.11M	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$61.49M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-15.47M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.88M	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNet`	$167.00K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNet`	$94.00K	USD	1 Quarter
Other income	`OtherOperatingIncome`	$212.00K	USD	1 Quarter
Other income	`OtherOperatingIncome`	-	USD	1 Quarter
Foreign exchange loss, net	`ForeignCurrencyTransactionGainLossBeforeTax`	$-372.00K	USD	1 Quarter
Foreign exchange loss, net	`ForeignCurrencyTransactionGainLossBeforeTax`	$-261.00K	USD	1 Quarter
Total other (income) expense, net	`NonoperatingIncomeExpense`	$7.00K	USD	1 Quarter
Total other (income) expense, net	`NonoperatingIncomeExpense`	$-167.00K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-15.46M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.04M	USD	1 Quarter
Provision (benefit) for income taxes	`IncomeTaxExpenseBenefit`	$-4.33M	USD	1 Quarter
Provision (benefit) for income taxes	`IncomeTaxExpenseBenefit`	$375.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-15.84M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$2.28M	USD	1 Quarter
Basic (usd per share)	`EarningsPerShareBasic`	$0.05	USD	1 Quarter
Basic (usd per share)	`EarningsPerShareBasic`	$-0.33	USD	1 Quarter
Diluted (usd per share)	`EarningsPerShareDiluted`	$-0.33	USD	1 Quarter
Diluted (usd per share)	`EarningsPerShareDiluted`	$0.05	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	44.66M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	48.33M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	48.68M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	48.33M	shares	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-15.84M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$2.28M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$8.63M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$10.12M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$6.24M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$8.39M	USD	1 Quarter
Loss on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-258.00K	USD	1 Quarter
Loss on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-3.00K	USD	1 Quarter
Unrealized foreign currency gains, net	`ForeignCurrencyTransactionGainLossUnrealized`	$-972.00K	USD	1 Quarter
Unrealized foreign currency gains, net	`ForeignCurrencyTransactionGainLossUnrealized`	$-119.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-4.35M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$282.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-58.50M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-59.30M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.51M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-179.00K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-54.79M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-64.18M	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-499.00K	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-559.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$10.67M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.88M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.44M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.08M	USD	1 Quarter
Capitalized internal use software development costs	`PaymentsToDevelopSoftware`	$2.31M	USD	1 Quarter
Capitalized internal use software development costs	`PaymentsToDevelopSoftware`	$2.29M	USD	1 Quarter
Investments in available-for-sale securities	`PaymentsToAcquireAvailableForSaleSecurities`	$14.95M	USD	1 Quarter
Investments in available-for-sale securities	`PaymentsToAcquireAvailableForSaleSecurities`	-	USD	1 Quarter
Maturities of available-for-sale securities	`ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities`	$6.40M	USD	1 Quarter
Maturities of available-for-sale securities	`ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities`	$16.95M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.37M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$2.65M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$368.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$6.72M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$368.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$6.72M	USD	1 Quarter
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	`EffectOfExchangeRateOnCashAndCashEquivalents`	$62.00K	USD	1 Quarter
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	`EffectOfExchangeRateOnCashAndCashEquivalents`	$31.00K	USD	1 Quarter
CHANGE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-56.00K	USD	1 Quarter
CHANGE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$20.07M	USD	1 Quarter
CASH AND CASH EQUIVALENTS Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$149.37M	USD	Point-in-time
CASH AND CASH EQUIVALENTS Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$116.50M	USD	Point-in-time
CASH AND CASH EQUIVALENTS Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$136.57M	USD	Point-in-time
CASH AND CASH EQUIVALENTS Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$149.42M	USD	Point-in-time
CASH AND CASH EQUIVALENTS End of period	`CashAndCashEquivalentsAtCarryingValue`	$149.37M	USD	Point-in-time
CASH AND CASH EQUIVALENTS End of period	`CashAndCashEquivalentsAtCarryingValue`	$116.50M	USD	Point-in-time
CASH AND CASH EQUIVALENTS End of period	`CashAndCashEquivalentsAtCarryingValue`	$136.57M	USD	Point-in-time
CASH AND CASH EQUIVALENTS End of period	`CashAndCashEquivalentsAtCarryingValue`	$149.42M	USD	Point-in-time
Capitalized assets financed by accounts payable and accrued expenses	`CapitalExpendituresIncurredButNotYetPaid`	$254.00K	USD	1 Quarter
Capitalized assets financed by accounts payable and accrued expenses	`CapitalExpendituresIncurredButNotYetPaid`	$667.00K	USD	1 Quarter
Capitalized stock-based compensation	`EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount`	$166.00K	USD	1 Quarter
Capitalized stock-based compensation	`EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount`	$206.00K	USD	1 Quarter

Stockholders Equity 21 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance (in shares)	`CommonStockSharesOutstanding`	49.55M	shares	Point-in-time
Beginning Balance (in shares)	`CommonStockSharesOutstanding`	49.38M	shares	Point-in-time
Beginning Balance (in shares)	`CommonStockSharesOutstanding`	46.60M	shares	Point-in-time
Beginning Balance (in shares)	`CommonStockSharesOutstanding`	37.19M	shares	Point-in-time
Beginning Balance	`StockholdersEquity`	$299.51M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$290.54M	USD	Point-in-time
Exercise of common stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$368.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$6.41M	USD	1 Quarter
Other comprehensive loss	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$-93.00K	USD	1 Quarter
Retained Earnings (Accumulated Deficit)	`RetainedEarningsAccumulatedDeficit`	$-99.00M	USD	Point-in-time
Retained Earnings (Accumulated Deficit)	`RetainedEarningsAccumulatedDeficit`	$-114.84M	USD	Point-in-time
Additional Paid in Capital	`AdditionalPaidInCapital`	$398.79M	USD	Point-in-time
Additional Paid in Capital	`AdditionalPaidInCapital`	$405.56M	USD	Point-in-time
Net income (loss)	`NetIncomeLoss`	$-15.84M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$2.28M	USD	1 Quarter
Ending Balance (in shares)	`CommonStockSharesOutstanding`	49.55M	shares	Point-in-time
Ending Balance (in shares)	`CommonStockSharesOutstanding`	49.38M	shares	Point-in-time
Ending Balance (in shares)	`CommonStockSharesOutstanding`	46.60M	shares	Point-in-time
Ending Balance (in shares)	`CommonStockSharesOutstanding`	37.19M	shares	Point-in-time
Ending Balance	`StockholdersEquity`	$299.51M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$290.54M	USD	Point-in-time

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-15.84M	USD	1 Quarter
Unrealized gain (loss) on investments, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	-	USD	1 Quarter
Unrealized gain (loss) on investments, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	-	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$2.28M	USD	1 Quarter
Unrealized gain (loss) on investments, net of tax of $0 for the three months ended March 31, 2017 and 2016	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$-4.00K	USD	1 Quarter
Unrealized gain (loss) on investments, net of tax of $0 for the three months ended March 31, 2017 and 2016	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$64.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$97.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$27.00K	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$93.00K	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$91.00K	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$2.38M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-15.75M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.