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MNTN, Inc Class A
(NYSE:MNTN)
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Rating:81Outperform
Price Target:
$15.00
▲(14.24% Upside)
Action:Reiterated
Date:09/09/26
The score is driven primarily by the strong financial turnaround (profitability, robust free cash flow, and a debt-free balance sheet) and a very positive earnings call with reiterated guidance and continued margin expansion. Technicals are supportive with the price above key moving averages, while valuation appears reasonable at a mid-teens P/E; corporate events are modestly positive but secondary.
Positive Factors
Debt-free balance sheet
The debt-free balance sheet and positive equity provide meaningful financial flexibility. MNTN can fund product development, sales investment, or shareholder returns without interest obligations, while its stronger capital position improves resilience if operating conditions become less favorable.
Negative Factors
Decelerating revenue growth
Revenue growth has slowed materially from the company’s earlier expansion rates, making future performance more dependent on execution, retention, and monetization. If top-line acceleration does not return, margin gains may carry more of the burden of sustaining earnings growth.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-free balance sheet
The debt-free balance sheet and positive equity provide meaningful financial flexibility. MNTN can fund product development, sales investment, or shareholder returns without interest obligations, while its stronger capital position improves resilience if operating conditions become less favorable.
Read all positive factors
MNTN, Inc Class A (MNTN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$958.23M
Dividend YieldN/A
Average Volume (3M)1.07M
Price to Earnings (P/E)15.4
Beta (1Y)1.39
Revenue Growth20.55%
EPS GrowthN/A
CountryUS
Employees451
SectorGeneral
Sector StrengthN/A
IndustrySoftware - Application
Share Statistics
EPS (TTM)0.77
Shares Outstanding61,892,532
10 Day Avg. Volume806,072
30 Day Avg. Volume1,072,552
Financial Highlights & Ratios
PEG Ratio1.72
Price to Book (P/B)2.88
Price to Sales (P/S)3.04
P/FCF Ratio20.06
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$18.00Price Target Upside37.09% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering6
EPS Forecast (FY)0.82
Revenue Forecast (FY)$352.24M
MNTN, Inc Class A Business Overview & Revenue Model
Company Description
MNTN, Inc. operates a technology platform that brings performance marketing to Connected TV. Its self-serve technology makes running TV ads as easy as search and social and helps brands to drive measurable conversions, revenue, site visits, and mo...
MNTN, Inc Class A Earnings Call Summary
Earnings Call Date:Aug 04, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 10, 2026
Earnings Call Sentiment Positive
The call conveyed a decidedly positive operating and financial trajectory: above-guidance revenue and adjusted EBITDA growth, meaningful margin expansion, strong active-customer growth and expansion rates, substantial AI and SMB product traction, and a healthy balance sheet with a $100M buyback authorization. Primary risks flagged were that nascent initiatives (Express and QuickFrame) currently contribute limited revenue and require successful monetization and conversion to paid customers, and that growth depends on continued investment in sales and marketing. On balance, the positives (robust growth, margin improvement, product momentum, and capital strength) materially outweigh the manageable execution and monetization risks discussed.Positive Updates
Revenue and Adjusted EBITDA Growth
Q2 revenue of $82.5M, up 21% year-over-year; adjusted EBITDA of $21.5M, up 48% year-over-year (from $14.5M in Q2 2025). Both metrics finished at the high end of guidance. GAAP net income of $6.7M and GAAP EPS of $0.09.
Negative Updates
Express Revenue Still Small Today
While Express has strong early signups (7,000+), management noted the revenue contribution from Express is small today relative to overall business and the meaningful impact is expected mainly in 2027.
Read all updates
Q2-2026 Updates
Positive
Negative
Revenue and Adjusted EBITDA Growth
Q2 revenue of $82.5M, up 21% year-over-year; adjusted EBITDA of $21.5M, up 48% year-over-year (from $14.5M in Q2 2025). Both metrics finished at the high end of guidance. GAAP net income of $6.7M and GAAP EPS of $0.09.
Read all positive updates
Company Guidance
Management reiterated 2026 guidance and provided Q3 targets: Q3 revenue $86.0–$89.0M (midpoint $87.5M, ~25% YoY) and adjusted EBITDA $22–$25M; full‑year revenue reiterated at $347–$357M (midpoint $352M, >24% YoY, excl. the Maximum Effort divestiture) with adjusted EBITDA $96–$101M. They noted Q2 finished at the high end of guidance with revenue of $82.5M (21% YoY), adjusted EBITDA $21.5M (48% YoY) and an adjusted EBITDA margin of 26.1% (up 490 bps), gross margin of 80% (up 350 bps), 4,225 active PTV customers (trailing 12 months, ~40% YoY), an expansion rate well north of 115%, $237.3M in cash at quarter start, 74.2M shares outstanding, and a board‑authorized $100M share repurchase program through Aug 5, 2027.MNTN, Inc Class A Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
86
Very Positive
Cash Flow
82
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 313.33M | 290.09M | 225.57M | 176.30M | 134.19M | 99.31M |
| Gross Profit | 252.36M | 221.31M | 161.52M | 123.41M | 72.42M | 65.97M |
| EBITDA | 72.24M | -2.65M | -11.83M | -25.28M | -76.18M | -15.18M |
| Net Income | 56.40M | -6.43M | -32.88M | -53.28M | -94.47M | -12.16M |
Balance Sheet | ||||||
| Total Assets | 402.74M | 378.30M | 238.74M | 194.80M | 203.40M | 249.14M |
| Cash, Cash Equivalents and Short-Term Investments | 237.28M | 210.16M | 82.56M | 54.97M | 50.91M | 97.03M |
| Total Debt | 0.00 | 0.00 | 50.25M | 49.33M | 53.55M | 48.62M |
| Total Liabilities | 68.41M | 72.57M | 346.34M | 300.71M | 291.36M | 280.67M |
| Stockholders Equity | 334.33M | 305.74M | -107.60M | -105.91M | -87.97M | -31.53M |
Cash Flow | ||||||
| Free Cash Flow | 70.03M | 43.97M | 32.60M | -3.05M | -61.02M | -5.02M |
| Operating Cash Flow | 72.91M | 56.47M | 42.55M | -3.05M | -56.95M | -1.10M |
| Investing Cash Flow | -8.31M | -17.11M | -9.95M | 37.79M | -4.07M | -1.36M |
| Financing Cash Flow | -2.48M | 88.24M | -5.00M | -34.88M | 14.90M | 91.71M |
MNTN, Inc Class A Technical Analysis
Negative
13.13
Price Trends
10.39
Negative
12.21
Negative
Market Momentum
<0.01
Negative
50.47
Neutral
66.85
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MNTN, the sentiment is Negative. The current price of 13.13 is above the 20-day moving average (MA) of 10.05, above the 50-day MA of 10.39, and equal to the 200-day MA of ―, indicating a neutral trend. The MACD of <0.01 indicates Negative momentum. The RSI at 50.47 is Neutral, neither overbought nor oversold. The STOCH value of 66.85 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for MNTN.
MNTN, Inc Class A Risk Analysis
MNTN, Inc Class A disclosed 68 risk factors in its most recent earnings report. MNTN, Inc Class A reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
MNTN, Inc Class A Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | $958.23M | 15.43 | 18.41% | ― | 20.55% | ― | |
80 Outperform | $1.03B | 12.53 | 27.66% | ― | 18.29% | 1634.10% | |
80 Outperform | $869.22M | 8.63 | 9.20% | ― | -4.24% | -20.11% | |
70 Outperform | $3.40B | 20.15 | 18.62% | ― | 8.32% | 280.46% | |
60 Neutral | $2.12B | 131.48 | 2.16% | 6.16% | 6.17% | 351.09% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
46 Neutral | $22.02M | -0.23 | 1284.85% | ― | -32.63% | 42.21% |
* General Sector Average
MNTN
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MNTN, Inc Class A Corporate Events
Executive/Board ChangesRegulatory Filings and Compliance
MNTN, Inc. Appoints Michael Katz to Board
Positive
Sep 8, 2026
On September 3, 2026, MNTN, Inc.’s Board of Directors elected Michael J. Katz as a Class II director, with his term running until the company’s 2027 annual meeting of stockholders or until a successor is elected and qualified. Katz, 48...
Executive/Board ChangesShareholder Meetings
MNTN Stockholders Reelect Directors and Ratify Auditor at Meeting
Positive
Jun 17, 2026
On June 11, 2026, MNTN, Inc. held its annual meeting of stockholders, with approximately 90.38% of the voting power represented in person or by proxy, reflecting strong shareholder engagement in the company’s governance. Stockholders voting ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.