10-Q · May 11, 2026
MNTN reported strong Q1 2026 earnings with revenue of $73.7 million, a 14.2% increase year-over-year, slightly beating analyst expectations. However, EPS at $0.11 fell short of estimates, causing a negative market…
Earnings analysis · 10-Q
MNTN earnings analysis
Filed August 10, 2026 · Our reading of the company's report
The latest report
MNTN delivered strong revenue growth, with Q2 revenue of $82.537 million up 11.5% sequentially and 21.4% year over year, while gross margin remained high at 80.0%. However, diluted EPS of $0.09 fell short of the $0.20…
Read full summary
MNTN delivered strong revenue growth, with Q2 revenue of $82.537 million up 11.5% sequentially and 21.4% year over year, while gross margin remained high at 80.0%. However, diluted EPS of $0.09 fell short of the $0.20 consensus estimate and declined from $0.11 in the prior quarter. The filing provides limited balance-sheet and cash-flow detail in the supplied excerpt, while risk disclosures emphasize customer concentration, credit-facility restrictions, cybersecurity exposure, and emerging AI regulation.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.09
- Gross margin
- 80.0%
What stood out
-
Revenue growth accelerated
Q2 revenue was $82.537 million, up approximately 11.5% from $74 million in Q1 2026 and approximately 21.4% from $68 million in Q2 2025.
-
Gross margin remains elevated
Gross margin was 80.0%, down 1.5 percentage points from 81.5% in Q1 2026 but up 3.2 percentage points from 76.8% in Q2 2025.
-
Profitability improved year over year
Diluted EPS was $0.09 versus $0.11 in Q1 2026, a decline of $0.02, but improved by $0.74 from a $(0.65) loss in Q2 2025.
-
Disclosure controls remain effective
Management concluded that disclosure controls and procedures were effective at the reasonable-assurance level as of June 30, 2026, and reported no changes in internal control over financial reporting that materially affected, or were reasonably likely to materially affect, controls during the quarter.
What to watch
-
EPS materially missed consensus
Diluted EPS of $0.09 was below the $0.20 consensus estimate by $0.11, indicating quarterly earnings conversion was weaker than expected despite revenue of $82.537 million.
-
Customer concentration increased
The top ten customers accounted for approximately 20% of revenue for the six months ended June 30, 2026, compared with 17% for the year ended December 31, 2025; almost all customers are not subject to committed contracts.
-
Credit facility constrains liquidity
The Revolving Credit Facility requires the company to maintain no less than $75 million in depository and operating accounts with Western Alliance Bank, subject to limited exceptions, while substantially all assets are pledged as collateral.
-
Cybersecurity exposure disclosed
The filing states that the company has been subject to a cyberattack and that cybersecurity incidents can create legal exposure and regulatory fines, although the filing does not quantify losses from the incident.
-
AI regulation adds compliance risk
The filing highlights potential EU AI Act fines of up to 7% of worldwide annual turnover if the company expands its AI offerings into the EU and fails to comply with applicable requirements.
Management's outlook
The supplied 10-Q excerpt does not include a quantitative outlook or comparison with prior guidance. The previously issued Q3 revenue outlook of $86 million to $89 million and FY2026 revenue outlook of $347 million to $357 million were disclosed in the August 4, 2026 earnings release rather than the 10-Q excerpt.
Earlier filings 3
10-K · February 19, 2026
MNTN positions itself as the first-mover in PTV (performance on CTV) with product differentiation in targeting (MNTN Matched) and attribution (Verified Visits). The company reported a revenue inflection in 2025Q4 with…
10-Q · August 11, 2025
MNTN reported Q2 2025 revenue of $68.46M (three months ended June 30, 2025) — up from $54.821M a year ago — with gross margin expanding to 76.8% and operating income of $3.716M (5.4% op margin). Net loss remained…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.