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MNTN (NYSE: MNTN) reported first-quarter fiscal 2026 results that exceeded its prior revenue and adjusted EBITDA guidance, citing continued adoption of its Performance TV platform and growing advertiser demand from customers that had not previously used television.
Chief Executive Officer Mark Douglas said the company delivered 25% year-over-year revenue growth in the quarter, along with 74% adjusted EBITDA growth and “record positive net income.” Douglas also reiterated MNTN’s positioning in connected TV, describing the company’s mission as “democratiz[ing] television advertising” by giving brands of varying sizes access to measurable streaming TV campaigns.
Chief Financial Officer Patrick Pohlen said first-quarter revenue rose to $73.7 million, up 25% from a year earlier after adjusting for the divestiture of Maximum Effort on April 1, 2025. Pohlen said this would be the final quarter in which MNTN reports revenue excluding Maximum Effort.
Gross margin improved to 81%, up 1,220 basis points from the prior-year period. Pohlen said the company’s core Performance TV business improved by more than 980 basis points, with the remainder of the increase coming from the Maximum Effort divestiture and a full quarter of reduced hosting costs.
MNTN ended the quarter with 3,874 active Performance TV customers, measured over the trailing 12 months, representing 46% year-over-year growth. Pohlen said the number of active customers can fluctuate from quarter to quarter because the company controls the pace at which it moves down market and evaluates whether new clients are a good fit for the platform.
The company’s expansion rate—measuring spending by current customers compared with those same customers a year earlier—remained “well north of 115%,” according to Pohlen. He said the metric indicates customers increase budgets when they achieve their desired return on advertising spend.
For the second quarter of fiscal 2026, MNTN expects revenue of $81 million to $83 million, representing 20% year-over-year growth at the midpoint. The company expects adjusted EBITDA of $19 million to $22 million for the quarter.
For the full year, MNTN raised its revenue outlook to a range of $347 million to $357 million, representing more than 24% year-over-year growth at the midpoint when normalizing for the Maximum Effort divestiture. The company expects full-year adjusted EBITDA of $96 million to $101 million.
Pohlen said MNTN remains focused on growth rather than maximizing near-term margins, adding that continued investment in sales and marketing is intended to increase penetration in what management views as a large, early-stage market opportunity.
He said the company’s EBITDA margins may vary from quarter to quarter depending on the timing of investments relative to revenue growth.
MNTN ended the quarter with $215 million in cash and cash equivalents and no borrowings outstanding. The company had 73.9 million shares outstanding at quarter-end.
Douglas highlighted the release of QuickFrame AI 3.0, an AI-powered creative video platform that exited beta the morning of the earnings call. He said QuickFrame AI has become one of the fastest-growing elements of the MNTN suite and is designed to help customers produce television commercials more quickly.
The latest version includes savable characters, a storyboard editor, collaborative editing and other capabilities. Douglas said the platform combines AI video generation with professional-grade creative controls to help marketing teams produce videos, iterate creative and launch campaigns faster.
Douglas said MNTN tracked beta performance using metrics such as project starts, time to launch and go-live rates, and observed particular benefits for small businesses due to fewer approval layers than in mid-market organizations.
Pohlen said MNTN has not built QuickFrame AI primarily as a separate revenue stream, but as an enabler of the core Performance TV business. He said the company expects to track its impact more closely following the broader release.
MNTN also discussed executive hires, including Garland Hill as chief revenue officer and Peter Blacker as head of content. Douglas said Hill previously led growth at TikTok, helping build a team from scratch to more than 1,000 people and billions in revenue, and earlier led the CPG sales team at Meta. Douglas said Blacker previously served as head of streaming at NBCUniversal, where he helped build NBC’s streaming division.
Douglas said the hires support two areas of MNTN’s growth strategy: scaling revenue and expanding customer access to premium TV content. He said MNTN provided customers with advertising across nearly all streaming networks during the quarter, including March Madness, the NHL playoffs, Major League Baseball and reality programming such as “Housewives” and “The Traitors.”
On streaming partnerships, Douglas said broad content access is critical to performance marketing because advertisers need to reach target consumers wherever they are watching. He said streaming networks view MNTN as a growth channel because, according to Douglas, 95% of MNTN’s customers have never advertised on television before.
Management emphasized continued expansion among small and midsize businesses. Douglas said MNTN’s mid-market business has been consistently growing, while the company manages the pace of small-business onboarding to help ensure customers are successful and acquired at the right cost.
Asked about macroeconomic pressure on advertisers, Douglas said MNTN is seeing “nearly zero impact” from macro concerns among SMB customers, with those advertisers remaining focused on return on ad spend rather than broader economic headlines.
Douglas also addressed competition from larger advertising and connected TV platforms, saying MNTN is purpose-built for SMBs with AI-driven targeting, creative tools for companies that do not already have TV ads, a programmatic bidding engine designed around performance signals, and a go-to-market model focused on smaller advertisers.
He said the company’s priorities include attracting new customers, launching new products, expanding use of AI and accelerating go-to-market efforts through sales and partnerships. Douglas added that more than 50% of MNTN’s headcount is in engineering.
MNTN is a software platform specializing in connected television (CTV) advertising, offering marketers tools to plan, launch and measure streaming TV campaigns. The platform enables brands to reach audiences across major OTT and CTV channels, helping advertisers target viewers based on demographic, behavioral and contextual data.
The company’s core product suite includes campaign management, real-time bidding and performance analytics. MNTN integrates with streaming services and ad exchanges, allowing clients to execute programmatic buys, track view-through conversions and optimize media spend through automated reporting dashboards.
MNTN is headquartered in Austin, Texas, and primarily serves brands and agencies across the United States and Canada.
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