Stock-Based Compensation (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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| Share-Based Payment Arrangement [Abstract] |
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| Schedule of Stock Options Activity |
A summary of stock option activity for the six months ended June 30, 2026 was as follows: | | | | | | | | | | | | | | | | | | | | | | | | |
| Shares Under Option | | Weighted- Average Exercise Price | | Weighted- Average Contractual Life | | Aggregate Intrinsic Value | |
| (in thousands) | | | | | | (in thousands) | | | Outstanding at December 31, 2025 | 3,687 | | $ | 9.07 | | | | | | | | Granted | 91 | | $ | 16.23 | | | | | | | | Exercised | (684) | | $ | 5.82 | | | | | | | | Expired | (13) | | $ | 14.18 | | | | | | | | | | | | | | | | | Outstanding at June 30, 2026 | 3,081 | | $ | 9.98 | | | 3.5 years | | $ | 32,254 | | | | Exercisable at June 30, 2026 | 2,867 | | $ | 9.67 | | | 3.2 years | | $ | 31,209 | | |
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| Schedule of Weighted-Average Input Assumptions |
The weighted-average input assumptions used by the Company were as follows: | | | | | | | | | | | | | | | | | | | Six Months Ended | | | | | | June 30, 2026 | | June 30, 2025 | | Expected term (in years) | | | | | 5.0 | | 5.0 | | Risk-free interest rate | | | | | 3.73 | % | | 4.45 | % | | Expected volatility | | | | | 78 | % | | 84 | % | | Dividend yield | | | | | — | % | | — | % |
| | | | | | | | | | | | | | | | | | | | | Six Months Ended | | | | | | June 30, 2026 | | June 30, 2025 | Performance period (in years) | | | | | 3.0 | | 3.0 | | Risk-free interest rate | | | | | 3.52 | % | | 4.26 | % | | Expected volatility of Magnite | | | | | 66 | % | | 78 | % | | Expected volatility of selected peer companies | | | | | 54 | % | | 56 | % | | Expected correlation coefficients of Magnite | | | | | 0.48 | | 0.57 | | Expected correlation coefficients of selected peer companies | | | | | 0.45 | | 0.47 | | Dividend yield | | | | | — | % | | — | % |
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| Schedule of Restricted Stock Units Activity |
A summary of restricted stock unit ("RSU") activity for the six months ended June 30, 2026 was as follows: | | | | | | | | | | | | | Number of Shares | | Weighted-Average Grant Date Fair Value | | (in thousands) | | | Restricted stock units outstanding at December 31, 2025 | 9,518 | | | $ | 12.86 | | | Granted | 4,557 | | | $ | 16.02 | | | Canceled | (738) | | | $ | 13.87 | | Vested and released | (3,276) | | | $ | 12.91 | | Restricted stock units outstanding and unvested at June 30, 2026 | 10,061 | | | $ | 14.20 | |
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| Schedule of Performance Stock Units Activity |
A summary of PSU activity for the six months ended June 30, 2026 was as follows:
| | | | | | | | | | | | | Number of Shares | | Weighted-Average Grant Date Fair Value | | (in thousands) | | | Outstanding at December 31, 2025 | 1,687 | | $ | 16.40 | | Granted * | 498 | | $ | 18.59 | | Vested and released * | (599) | | $ | 13.32 | | | Forfeited | (112) | | $ | 18.92 | | Outstanding at June 30, 2026 | 1,474 | | $ | 18.20 | | * PSUs granted and weighted-average grant date fair value include 125 shares issued above the target shares for a PSU that vested and was released during the six months ended June 30, 2026. |
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| Schedule of Stock-Based Compensation Expense |
Total stock-based compensation expense recorded in the condensed consolidated statements of operations was as follows: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | June 30, 2026 | | June 30, 2025 | | June 30, 2026 | | June 30, 2025 | | (in thousands) | | (in thousands) | | Cost of revenue | $ | 603 | | | $ | 535 | | | $ | 1,288 | | | $ | 1,107 | | | Sales and marketing | 8,437 | | | 8,448 | | | 16,811 | | | 17,592 | | | Technology and development | 4,547 | | | 4,207 | | | 9,265 | | | 8,842 | | | General and administrative | 6,039 | | | 6,368 | | | 11,947 | | | 13,226 | | | | | | | | | | | Total stock-based compensation expense | $ | 19,626 | | | $ | 19,558 | | | $ | 39,311 | | | $ | 40,767 | |
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