MNTN (MNTN) Q1 2026 earnings summary

Executive summary

• Q1 2026 revenue grew 25% year-over-year to $73.7 million, driven by strong customer acquisition, retention, and a 46% increase in active Performance TV customers, with continued innovation in AI-powered creative tools and expansion in the SMB market.

• Net income reached $8.8 million, reversing a net loss of $21.1 million in Q1 2025, reflecting improved operating leverage and lower general and administrative expenses.

• Adjusted EBITDA rose 74% year-over-year to $16.3 million (22% margin), highlighting improved profitability and operational efficiency.

• Leadership was strengthened with key hires from TikTok and NBCUniversal to drive revenue and content strategy.

• The company continues to invest in technology, development, and sales to support long-term growth and product innovation.

Financial highlights

• Q1 2026 revenue reached $73.7 million, up 25% year-over-year on an adjusted basis, with gross margin improving to 81.5% from 69.3% and gross profit at $60.0 million.

• Adjusted EBITDA was $16.3 million (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.

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

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

• 73.9 million shares outstanding at quarter end.

Outlook and guidance

• Q2 2026 revenue expected between $81 million and $83 million, representing 20% year-over-year growth 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, with adjusted EBITDA expected between $96 million and $101 million.

• Management anticipates ongoing investment in technology and customer acquisition, with a focus on improving Adjusted EBITDA margin over the long term.

• Strategic restructuring plan approved in April 2026 to improve operational efficiencies, including a workforce reduction and new marketing services agreement.

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