MNTN (MNTN) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue reached $82.5 million, up 21% year-over-year, with gross margin improving to 80% and adjusted EBITDA rising 48% to $21.5 million, both at the high end of guidance.

• Net income was $6.7 million, reversing a net loss of $26.2 million in Q2 2025, reflecting improved operating leverage.

• Active Performance TV customers grew 40% year-over-year to 4,225, with strong SMB adoption and customer retention above 115%.

• Strategic investments in AI, product suite expansion, and premium inventory access are driving customer growth and platform differentiation.

• Board authorized a $100 million stock repurchase program through August 2027, reflecting confidence in long-term growth.

Financial highlights

• Q2 2026 revenue: $82.5 million, up 21% year-over-year; gross profit: $66.3 million; gross margin: 80%.

• Adjusted EBITDA for Q2 2026: $21.5 million, up 48% year-over-year; margin increased to 26.1%.

• Net income for Q2 2026: $6.7 million, compared to a net loss of $26.2 million in Q2 2025; GAAP EPS of $0.09.

• Operating expenses for Q2 2026 were $59.2 million, up 21% year-over-year, supporting growth initiatives.

• Ended Q2 2026 with $237.3 million in cash and no outstanding borrowings.

Outlook and guidance

• Q3 2026 revenue expected between $86 million and $89 million, 25% year-over-year growth at midpoint; Q3 adjusted EBITDA guidance: $22 million-$25 million.

• Full-year 2026 revenue guidance: $347 million-$357 million, over 24% year-over-year growth at midpoint, excluding Maximum Effort divestiture.

• Full-year adjusted EBITDA expected between $96 million-$101 million.

• Focus on accelerating new customer acquisition, expanding wallet share, and continuous product innovation.

• Long-term strategy includes developing the brand, increasing efficiencies, and extending into adjacent markets.