MNTN (MNTN) investor relations material

Executive summary

• Q3 revenue was $80.251M, up 14.6% YoY, but fell below guidance amid go-to-market disruption and seller attrition; management attributed the shortfall to execution, not product demand or competition.

• Tony Weisman became CEO effective Nov. 2, prioritizing operational rigor, accountability, pipeline growth, demo conversion, and starting budgets.

Financial highlights

• Q3 revenue was $80.251M versus $70.023M a year earlier; gross profit was $63.254M versus $55.234M.

• Q3 operating income was $8.735M versus $7.530M; GAAP net income was $7.669M versus $6.436M.

• Adjusted EBITDA was $19.898M versus $15.985M, up 24% YoY.

• Operating expenses were $54.519M, up 14.3% YoY but down $4.7M sequentially, mainly from lower personnel costs and a Q2 one-time stock-based compensation award.

• Nine-month revenue increased 16.5% to $236.461M; net income was $23.151M versus a $40.903M loss, and Adjusted EBITDA was $57.738M versus $39.857M.

Outlook and guidance

• Q4 revenue guidance is $75M–$78M and Adjusted EBITDA guidance is $8M–$10M; outlook assumes sales disruption continues as new sellers ramp.

• FY2026 revenue guidance is $311M–$314M, with 10% YoY growth at the midpoint excluding the Maximum Effort divestiture impact and 8% GAAP growth; Adjusted EBITDA guidance is $66M–$68M.

• Q4 guidance includes non-recurring G&A costs related to executive personnel changes; the 2027 operating plan and outlook are due with Q4 results.