MNTN (MNTN) investor relations material

Market overview and company positioning

• Connected TV (CTV) is now a true digital platform, enabling thousands of small and midsize brands to access TV advertising, previously dominated by large global brands due to legacy technology barriers.

• 97% of advertisers on the platform are first-time TV advertisers, and the customer base grew by 85% year over year.

• The platform works with over 150 networks, including major streaming services and TV manufacturers, offering 15-30 second ad spots, including live sports.

• Negotiated direct deals with networks represent a significant growth channel, with 97¢ of every dollar spent being net new revenue for the industry.

• The company is seen as a growth driver for streaming networks, with flexible, non-guaranteed deal structures based on forecasted spend.

Technology and product innovation

• Heavy investment in targeting and measurement technology enables precise consumer identification, allowing for lower minimum ad spend and broader SMB access.

• AI and machine learning are used to profile and target consumers, with generative AI now providing unbiased customer profiles and creative tools.

• The platform can bid on over 4 million TV ad opportunities per second, scaling from 100,000 at launch.

• QuickFrame, acquired in 2021, connects advertisers with 5,000 creators for affordable ad production; QuickFrame AI, launching soon, will further automate creative generation.

• About 40% of headcount is in engineering, reflecting the focus on technology as the main growth driver.

Customer acquisition and growth dynamics

• 77% of revenue is now inbound, up from 2% three years ago, driven by the company advertising its own platform to marketers.

• The average customer is a direct-to-consumer brand marketer seeking to diversify beyond search and social, with an initial average spend of $28,000 per month.

• Sales cycles average 19 days from first contact to customer, with campaigns going live in about 39 days.

• Lowering minimum spend thresholds and self-serve tools have removed barriers to entry, enabling rapid customer growth.

• Net retention rates are 112%, with customers typically increasing spend after a three-month trial and peaking around ten months into the relationship.