Magnite
27 named things its latest annual report says its results depend on, each in the company's own words. 16 of them are also named by other companies we've read.
Customers
Two largest buyers (DSPs)
concentrated in · approximately 44% of revenuenamed as a riskIn 2025, there were two buyers of advertising inventory that indirectly contributed to approximately 44% of revenue through their buying activity from sellers on our platform.Risk factors (Item 1A)
CTV sellers
concentrated innamed as a riskBecause of the concentration among CTV sellers, the loss of a CTV client may result in a significant decrease in the amount of CTV inventory available through our platform.Risk factors (Item 1A)
Suppliers
Mobile SDK aggregators
depends onnamed as a riskTermination or diminution of our relationships with these third parties could result in a material reduction of the amount of mobile inventory available through our platform.Business (Item 1)
Third-party data centers and cloud providers
depends onnamed as a riskOur platform operates on our data processing equipment that is housed in third-party commercial data centers that we do not control or on servers owned and operated by cloud-based service providers.Risk factors (Item 1A)
Partners and platforms
Google is a significant participant in the digital advertising ecosystem and both a major partner and competitor to Magnite and a significant portion of our revenue is generated through our relationship with Google.Risk factors (Item 1A)
Also named by ABNB, AES, APP, BKNG, CSGP, CTSH, DOCU, ETSY and 14 more
Apple IDFA
depends onnamed as a riskFor example, Apple requires user opt-in before permitting access to Apple’s unique identifier, or IDFA.Risk factors (Item 1A)
Also named by RKT
Google OB
depends onnamed as a riskHowever, some buyers and sellers may require direct billing and collection arrangements between themselves, and some providers of header bidding wrappers or other downstream decisioning mechanisms in which we participate (such as Google OB) may control billing and collection for transactions we win through their platforms.Risk factors (Item 1A)
Other companies
Connected TV (CTV) advertising
earns fromnamed as a riskThe growth of our business is dependent, in part, on the continued growth in CTV advertising spend.Risk factors (Item 1A)
Competitors
Many of our competitors, including Google, Facebook, Comcast, and Amazon, are significantly larger than us, with more established name recognition and access to greater financial resources.Business (Item 1)
Also named by ABNB, AES, APP, BKNG, CSGP, CTSH, DOCU, ETSY and 14 more
Amazon
competes withnamed as a riskMany of our competitors, including Google, Facebook, Comcast, and Amazon, are significantly larger than us, with more established name recognition and access to greater financial resources.Business (Item 1)
Also named by AES, AFRM, ALK, AOS, APP, AXP, BBW, CART and 10 more
Many of our competitors, including Google, Facebook, Comcast, and Amazon, are significantly larger than us, with more established name recognition and access to greater financial resources.Business (Item 1)
Hazards
California
operates innamed as a riskFurther, because our Los Angeles office and San Francisco offices and our California data center sites are in seismically active areas, earthquakes present a particularly serious risk of business disruption.Risk factors (Item 1A)
Also named by A, AAON, AFRM, ALK, ALLY, AN, ARE, AVAV and 88 more
Commodities and inputs
SOFR
exposed to its price · approximately $3.6 millionnamed as a riskThe annualized impact to interest expense for each 100 basis points increase above the SOFR Floor on our 2024 Term Loan B Facility is approximately $3.6 million.Market risk (Item 7A)
Also named by AAP, AIOT, APG, APH, ARES, AXON, BGC, BR and 82 more
Foreign currencies (Australian Dollar, British Pound, Euro, Japanese Yen, New Zealand Dollar)
exposed to its price · approximately $7.7 millionnamed as a riskThe effect of an immediate 10% adverse change in foreign exchange rates on foreign currency-denominated monetary assets and liabilities at December 31, 2025 and December 31, 2024, including intercompany balances, would result in a foreign currency loss of approximately $7.7 million and $10.8 million, respectively.Market risk (Item 7A)
Also named by ADSK, BR, ENTG, EXPE, MRNA, ON, SYK, UAL and 1 more
Laws and programs
New Credit Agreement (Morgan Stanley Senior Funding / Citibank)
$365.0 million term loannamed as a riskOn February 6, 2024, we refinanced and terminated our existing Credit Agreement and entered into a new credit agreement with Morgan Stanley Senior Funding, Inc., as term facility administrative agent, Citibank, N.A., as revolving facility administrative agent and collateral agent, and other lending parties (the “New Credit Agreement”) for a $365.0 million term loan that matures in February 2031 and a $175.0 million revolving facility that matures February 2029.Risk factors (Item 1A)
General Data Protection Regulation (GDPR)
subject tonamed as a riskThe GDPR and UK GDPR also set out substantial potential liabilities for certain data protection violations and create a compliance burden for us in the course of delivering our solution in Europe.Risk factors (Item 1A)
Also named by A, AB, ABNB, ADBE, ADP, AGX, AIOT, AJG and 100 more
EU-U.S. Data Privacy Framework
subject tonamed as a riskA successor agreement, the Data Privacy Framework (“DPF”), is now in place, but numerous lawsuits against the DPF have already been filed, and it is uncertain whether DPF will stand up to judicial scrutiny by the CJEU or, like its predecessor agreement, be declared invalid.Risk factors (Item 1A)
Also named by ADBE, APP, CRM, CRWD, DDOG, DOCN, GTLB, IDXX and 12 more
EU Digital Services Act
subject tonamed as a riskThe DSA establishes further transparency requirements concerning the use of data for profile-based advertising that may result in new compliance obligations and sets out significant fines in case of a violation.Business (Item 1)
Also named by ABNB, ADBE, BKNG, CSGP, DASH, EBAY, ETSY, GDDY and 8 more
EU ePrivacy Directive
subject tonamed as a riskCurrent regulatory developments indicate stricter interpretation of the ePrivacy Directive, meaning that data processing without consent will continue to decrease.Risk factors (Item 1A)
California Delete Act
subject tonamed as a riskThese obligations may reduce the data available to Magnite, require us to develop complex and expensive compliance tools and procedures, and may result in reductions in revenue.Risk factors (Item 1A)
Also named by ZETA
EU Transparency and Targeting of Political Advertising Regulation
subject tonamed as a riskWe are subject to regulation with respect to political advertising activities, which are governed by various federal and state laws in the U.S., and national and provincial laws worldwide, including the new Transparency and Targeting of Political Advertising in the EU, imposing strict prohibitions on the use of personal data for political advertising.Risk factors (Item 1A)
Maryland digital advertising tax
subject tonamed as a riskWhile the law is being challenged in the courts, the law took effect and we are technically subject to the tax, which increases our cost of doing business.Risk factors (Item 1A)
Children's Online Privacy Protection Act (COPPA)
subject toFor example, the Children’s Online Privacy Protection Act ("COPPA"), imposes restrictions on the collection and use of data about users of child-directed websites.Business (Item 1)
Also named by APP, BBW, DIS, GOOG, HAS, META, RBLX, TTWO and 2 more
Technology
Third-party cookies
depends onnamed as a riskIf third-party cookies are replaced by alternative tracking mechanisms, our performance may decline and we may lose buyers and revenue.Risk factors (Item 1A)
Global Privacy Control (GPC)
subject tonamed as a riskUse of GPC and similar user privacy features provided on other channels of programmatic advertising, such as CTV, are growing.Risk factors (Item 1A)
Header bidding solutions (Google)
depends onnamed as a riskIn addition, our success in monetizing impressions through header-bidding solutions is dependent on the interoperability of our platform with proprietary header-bidding solutions, some of which are owned by our competitors, including Google.Risk factors (Item 1A)