MNTN (MNTN) investor relations material

Executive summary

• Q1 2026 revenue grew 25% year-over-year to $73.7 million, driven by new customer acquisition, retention, and innovation in AI-powered creative tools, including the launch of QuickFrame AI 3.0.

• Adjusted EBITDA rose 74% to $16.3 million, with margin expansion to 22%, and net income reached $8.8 million, reversing a prior-year loss.

• Gross margin improved to 81–81.5%, up 1,220 basis points year-over-year, reflecting operational efficiencies.

• Leadership strengthened with hires from TikTok and NBCUniversal, and focus remains on scaling in the SMB market and product innovation.

• Long-term investments target market share expansion, operational efficiency, and leveraging AI for margin growth.

Financial highlights

• Q1 2026 revenue was $73.7 million, up 25% year-over-year, with gross profit of $60.0 million and gross margin at 81–81.5%.

• Adjusted EBITDA reached $16.3 million (22–22.2% margin), up 74% from Q1 2025.

• Net income was $8.8 million, compared to a net loss of $21.1 million in Q1 2025.

• Ended Q1 with $214–$215 million in cash and no debt.

• Operating income was $9.6 million, compared to a loss of $7.7 million in Q1 2025.

Outlook and guidance

• Q2 2026 revenue expected between $81 million and $83 million, up 20% year-over-year at midpoint.

• Q2 adjusted EBITDA guidance of $19 million to $22 million.

• Full-year 2026 revenue guidance raised to $347–$357 million, over 24% year-over-year growth at midpoint.

• Full-year adjusted EBITDA expected between $96 million and $101 million.

• Near-term Performance TV market opportunity estimated at $60–$120 billion.