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NEW YORK - MNTN (NYSE:MNTN), a Connected TV performance marketing platform currently valued at $1.26 billion, reported Monday that agency-led accounts on its platform have quadrupled over the past year, highlighting growing adoption of its television advertising technology. According to InvestingPro data, the company maintains a strong financial position with more cash than debt on its balance sheet.
The company’s Approved Agency Network, designed to recognize partners achieving measurable results with Performance TV, has expanded to include 45 verified agencies. These partners receive benefits including official platform certification, rewards based on media spend, early access to beta features, and formal training through MNTN’s certification program. The company’s robust growth is supported by impressive gross profit margins of 74% and projected revenue growth of 28% for fiscal year 2025.
"This program gives agencies the same tools, visibility, and rewards that has fueled MNTN’s own growth—while giving their clients a trusted path into Performance TV," said Matt Rickard, VP of Agency Partnerships at MNTN, in a press release statement.
The growth in agency partnerships reflects increasing interest from brands seeking measurable business outcomes from Connected TV advertising. MNTN’s technology platform aims to make television advertising more accessible to a broader range of advertisers.
Justin Buckley, Partner at ATTN Agency, one of MNTN’s verified partners, noted that successful partner programs require "consistent education and enablement, meaningful offer creation, and lifting each other’s brands through comarketing."
MNTN, which trades on the New York Stock Exchange, positions its self-serve technology as making television advertising comparable in ease of use to search and social media marketing channels, while delivering measurable performance metrics. While currently trading near its 52-week low, analysts maintain an optimistic outlook, with targets ranging from $25 to $39 per share. For more detailed analysis and additional insights, visit InvestingPro, which offers 13 additional key investment tips for MNTN.
In other recent news, MNTN Inc reported strong second-quarter earnings, with revenue reaching $68 million, marking a 25% increase from the previous year and a 35% organic growth. This performance exceeded both Evercore ISI and Street estimates by 6%, with the company’s EBITDA hitting $14.5 million at a 21% margin, surpassing expectations by 67% to 75%. In light of these results, Evercore ISI raised its price target for MNTN to $39 while maintaining an Outperform rating. Additionally, Tigress Financial Partners upgraded MNTN’s stock from Buy to Strong Buy, citing the company’s growing opportunities in the connected TV market and increasing strategic AI innovations. JMP Securities reiterated its Market Outperform rating, highlighting MNTN’s platform scale and first-mover advantage in connected TV advertising. Furthermore, MNTN and CallRail announced a partnership that enables advertisers to track calls and texts driven by CTV ads, offering improved campaign measurement. These developments underscore MNTN’s strategic positioning in the rapidly evolving advertising landscape.
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