Start here if you're new
what it is
MNTN sells software that helps brands run TV ads, target viewers, and link each view to a purchase.
how it gets paid
Last year Mntn made $290M in revenue. Performance TV was the main engine at $174M, or 60% of sales.
why it's growing
Revenue grew 28.6% last year. The $203M quarter showed demand is real, but the -$0.95 EPS print says profit still trails growth.
what just happened
$203M in quarterly revenue came with a -$0.95 EPS print.
At a glance
n/a balance sheet
-$0.09 fy2025 eps est
$2B fy2026 rev est
12.5% operating margin
~$707M market cap
What they do
MNTN sells software that helps brands run TV ads, target viewers, and link each view to a purchase.
Your TV ad money stops behaving like a guess. MNTN says its software targets audiences and ties each view to a purchase. That makes TV look a lot more like search ads. Revenue was $290M for the year and $203M in the latest quarter.
How they make money
$290M
annual revenue · their business grew +28.6% last year
Performance TV
$174M
MNTN Matched
$58M
Measurement & Attribution
$29M
Self-serve Platform
$29M
The products that matter
connected tv ad software
Performance TV Platform
$284.7M · 98% of segment revenue shown
It produced $284.7M of the roughly $290M shown here and grew 36%. If this engine slows, there is no second business waiting to carry the story.
the whole thesis
ai video creation tool
QuickFrame AI
launched jan 2026
This was unveiled in January 2026 to help customers make ad creative faster. It matters because better creative can improve campaign performance, but there is no revenue disclosure yet. For now, treat it as support software, not a proven growth driver.
promising, unproven
services and add-ons
Other Services
$5.3M · about 2%
At $5.3M and flat growth, this is too small to change your thesis. It mainly shows how dependent MNTN still is on one core platform.
small sidecar
Key numbers
12.5%
operating margin
For every $100 of sales, MNTN keeps $12.50 before interest and taxes. Compare that with a $203M quarter, and you see why cost control matters.
$290M
annual revenue
This is the full-year sales base. A 10% drop is $29M, which is real money in a company this size.
$203M
quarterly revenue
The latest quarter was almost three-quarters of the full year. That tells you the business moved fast in 2025.
75.1%
gross margin
Gross margin is what is left after direct costs. At 75.1%, the business keeps 75 cents of each sales dollar before overhead.
Financial health
n/a
strength
- balance sheet grade n/a
n/a — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for MNTN right now.
source: institutional data · return history unavailable
What just happened
missed estimates
$203M in quarterly revenue came with a -$0.95 EPS print.
Revenue was up 190% vs. prior year, and gross margin held at 75.1%. The business is growing fast, but losses are still on the table.
$203M
revenue
-$0.95
eps
75.1%
gross margin
the number that mattered
The $203M quarter showed demand is real, but the -$0.95 EPS print says profit still trails growth.
source: company earnings report, 2026
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What could go wrong
The #1 risk is failing to turn connected-tv growth into repeatable, full-year profitability.
med
2026 guide is now the whole debate
Management guided to $345M–$355M of 2026 revenue, or 21–25% growth. If MNTN falls short, investors stop treating Q4 as a turning point and start treating it as a good quarter in a still-unproven model.
Missing that range would directly pressure the growth narrative supporting a $707M valuation.
med
The ad budget does not care about first-mover stories
MNTN sells into a market where Google and The Trade Desk already have scale, relationships, and product breadth. An 82% gross margin is attractive. It is not a shield.
Bigger platforms can limit pricing power, slow customer wins, and make long-term share gains expensive.
med
Smaller advertisers can pull back fast
A self-serve model is efficient, but it can also be sensitive to budget pauses. If core clients are small and mid-sized businesses, ad spending can tighten quickly when the economy does.
That would show up first in quarterly revenue volatility, which matters more when the company is guiding for 21–25% growth.
The combined risk picture is simple: almost all of the revenue shown here comes from one platform, the company still lost $0.09 per share for FY2025, and the market now expects $345M–$355M of 2026 revenue to prove Q4 was the beginning, not the exception.
source: institutional data · regulatory filings · risk analysis
Pay attention to
next catalyst
Q1 2026 earnings
Expected May 20, 2026. This is the first public checkpoint against the $345M–$355M full-year guide, so the number that matters is whether growth still looks like 21–25%.
trend
gross margin after the 82% quarter
Q4 margin expanded 530 basis points to 82%. If that slips back quickly, the software-efficiency story starts looking seasonal instead of structural.
estimate quality
revenue data consistency
One field on this page shows $2B of estimated FY2026 revenue, while segment data points to roughly $290M and management guided to $345M–$355M. When vendor data disagrees, trust management guidance first.
risk
whether the new CRO changes the pace
Garland Hill took over as chief revenue officer on March 10, 2026. If pipeline quality, customer wins, or retention improve from here, you should see it in bookings and guidance confidence.
Analyst rankings
source: institutional data
Institutional activity
institutional ownership data for MNTN is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$9
current price
n/a
target midpoint · n/a from current
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