MNTN on NYSE
MNTN, Inc.
MNTN is on a mission to transform CTV into a next-generation performance marketing channel.4 From its latest annual report
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Last updated Oct 19, 2026.
Overview
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- TickerMNTN on NYSE1
- IndustryServices-Advertising1
- HeadquartersAustin, Texas1
- Incorporated inDE3
- Business address823 Congress Avenue, #1827, Austin, Tx 787683
- Filer category, Emerging growth company3
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MNTN is on a mission to transform CTV into a next-generation performance marketing channel.4 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
77.2%Gross margin2
8.3%Operating margin2
-2.2%Net margin2
28.6%Revenue growth, 20252
-2.1%Return on equity2
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue23¢$66.2M
- Research and development17¢$49.2M
- Other costs57¢$165.1M
- Income tax3¢$9.6M
Out of $290.1M in revenue.2 The company lost money this year.
Where each dollar of operating cash went, fiscal 2025
- Share buybacks18¢$10.0M
- Kept or used elsewhere82¢$46.4M
Out of $56.5M of cash from operations.2
Financial statements
Every line of the income statement as filed: the last 2 fiscal years, latest first.2
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Revenue | $290.1M | $225.6M |
| Cost of revenues | $66.2M | $64.1M |
| Gross profit | $223.9M | $161.5M |
| Technology and development | $49.2M | $32.7M |
| Sales and marketing | $90.4M | $76.1M |
| General and administrative | $57.7M | $51.8M |
| Amortization of acquired intangibles | $2.6M | $2.6M |
| Total operating expenses | $199.9M | $163.2M |
| Operating income (loss) | $24.0M | -$1.6M |
| Interest income (expense), net | $3.5M | -$6.9M |
| Other expense, net | -$43.5M | -$18.5M |
| Total other income (expense) | -$40.0M | -$25.4M |
| Loss before income tax provision | -$16.0M | -$27.1M |
| Income tax provision | -$9.6M | $5.8M |
| Net loss | -$6.4M | -$32.9M |
| Net loss attributable to common stockholders | -$6.4M | -$32.9M |
| Basic (in dollars per share) | -$0.13 | -$2.38 |
| Diluted (in dollars per share) | -$0.13 | -$2.38 |
| Basic (in shares) | 50.9M shares | 13.8M shares |
| Diluted (in shares) | 50.9M shares | 13.8M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 5 fiscal years (annual) or 5 quarters (quarterly), latest first.2
| Period ending | 2025-12-31 | 2025-05-31 | 2025-03-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|---|---|
| Cash and cash equivalents | $210.2M | $82.6M | |||
| Accounts receivable, net | $61.8M | $66.9M | |||
| Prepaid expenses and other current assets | $14.5M | $8.9M | |||
| Total current assets | $286.5M | $158.4M | |||
| Internal use software, net | $17.8M | $12.4M | |||
| Property and equipment, net | $0 | $100.0K | |||
| Intangible assets, net | $12.7M | $15.4M | |||
| Goodwill | $51.9M | $51.9M | |||
| Deferred tax assets, net | $9.4M | $0 | |||
| Other assets, non-current | $0 | $550.0K | |||
| Total assets | $378.3M | $238.7M | |||
| Accounts payable and accrued expenses | $59.5M | $63.6M | |||
| Accrued payroll and related liabilities | $3.4M | $3.2M | |||
| Short-term note payable | $0 | $579.0K | |||
| Embedded derivative liability | $0 | $41.5M | $24.9M | ||
| Other current liabilities | $5.6M | $13.3M | |||
| Total current liabilities | $68.5M | $155.2M | |||
| Warrant liabilities | $0 | $18.9M | |||
| Other liabilities, non-current | $4.0M | $3.4M | |||
| Total liabilities | $72.6M | $177.5M | |||
| Redeemable convertible preferred stock, $0.0001 par value: no shares authorized, issued, or outstanding at December 31, 2025; 55,504,004 shares authorized, 41,994,022 shares issued and outstanding, liquidation preference of $165,776 at December 31, 2024 | $0 | $168.9M | $168.9M | ||
| Additional paid-in capital | $577.0M | $147.3M | |||
| Treasury stock | -$10.0M | $0 | |||
| Notes receivable from employees | -$181.0K | -$173.0K | |||
| Accumulated deficit | -$261.1M | -$254.7M | |||
| Total stockholders' equity (deficit) | $305.7M | -$107.6M | -$105.9M | ||
| Total liabilities, redeemable convertible preferred stock and stockholders' equity (deficit) | $378.3M | $238.7M | |||
| Convertible debt | $0 | $51.3M | $49.7M | ||
| Redeemable convertible preferred stock, par value (in dollars per share) | $0.00 | $0.00 | |||
| Redeemable convertible preferred stock, shares authorized (in shares) | 0 shares | 55.5M shares | |||
| Redeemable convertible preferred stock, shares issued (in shares) | 0 shares | 42.0M shares | |||
| Redeemable convertible preferred stock, shares outstanding (in shares) | 0 shares | 42.0M shares | 42.0M shares | ||
| Redeemable convertible preferred stock, liquidation preference | $165.8M | ||||
| Common stock, shares outstanding (in shares) | 16.4M shares |
| Period ending | 2025-12-31 | 2025-05-31 | 2025-03-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|---|---|
| Cash and cash equivalents | $210.2M | $82.6M | |||
| Accounts receivable, net | $61.8M | $66.9M | |||
| Prepaid expenses and other current assets | $14.5M | $8.9M | |||
| Total current assets | $286.5M | $158.4M | |||
| Internal use software, net | $17.8M | $12.4M | |||
| Property and equipment, net | $0 | $100.0K | |||
| Intangible assets, net | $12.7M | $15.4M | |||
| Goodwill | $51.9M | $51.9M | |||
| Deferred tax assets, net | $9.4M | $0 | |||
| Other assets, non-current | $0 | $550.0K | |||
| Total assets | $378.3M | $238.7M | |||
| Accounts payable and accrued expenses | $59.5M | $63.6M | |||
| Accrued payroll and related liabilities | $3.4M | $3.2M | |||
| Short-term note payable | $0 | $579.0K | |||
| Embedded derivative liability | $0 | $41.5M | $24.9M | ||
| Other current liabilities | $5.6M | $13.3M | |||
| Total current liabilities | $68.5M | $155.2M | |||
| Warrant liabilities | $0 | $18.9M | |||
| Other liabilities, non-current | $4.0M | $3.4M | |||
| Total liabilities | $72.6M | $177.5M | |||
| Redeemable convertible preferred stock, $0.0001 par value: no shares authorized, issued, or outstanding at December 31, 2025; 55,504,004 shares authorized, 41,994,022 shares issued and outstanding, liquidation preference of $165,776 at December 31, 2024 | $0 | $168.9M | $168.9M | ||
| Additional paid-in capital | $577.0M | $147.3M | |||
| Treasury stock | -$10.0M | $0 | |||
| Notes receivable from employees | -$181.0K | -$173.0K | |||
| Accumulated deficit | -$261.1M | -$254.7M | |||
| Total stockholders' equity (deficit) | $305.7M | -$107.6M | -$105.9M | ||
| Total liabilities, redeemable convertible preferred stock and stockholders' equity (deficit) | $378.3M | $238.7M | |||
| Convertible debt | $0 | $51.3M | $49.7M | ||
| Redeemable convertible preferred stock, par value (in dollars per share) | $0.00 | $0.00 | |||
| Redeemable convertible preferred stock, shares authorized (in shares) | 0 shares | 55.5M shares | |||
| Redeemable convertible preferred stock, shares issued (in shares) | 0 shares | 42.0M shares | |||
| Redeemable convertible preferred stock, shares outstanding (in shares) | 0 shares | 42.0M shares | 42.0M shares | ||
| Redeemable convertible preferred stock, liquidation preference | $165.8M | ||||
| Common stock, shares outstanding (in shares) | 16.4M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 2 fiscal years, latest first.2
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net loss | -$6.4M | -$32.9M |
| Stock-based compensation | $31.7M | $31.2M |
| Change in value of embedded derivative | $16.6M | $16.0M |
| Change in value of warrant liabilities | -$4.0M | $2.9M |
| Change in value of contingent liabilities | $166.0K | -$329.0K |
| Change in value of convertible debt, excluding interest | $4.4M | $0 |
| Depreciation and amortization | $9.9M | $8.3M |
| Loss on extinguishment of convertible debt | $26.4M | $0 |
| Accretion of warrant discount on convertible debt | $949.0K | $6.0M |
| Interest accrued on convertible debt and short-term note payable | $1.1M | $2.8M |
| Provision for bad debts | $1.9M | $2.2M |
| Release of indemnification related to QuickFrame Holdback | -$579.0K | $0 |
| Interest income from notes receivable | -$447.0K | -$3.0K |
| Provision for deferred income taxes | -$9.5M | $36.0K |
| Accounts receivable | $2.0M | -$18.9M |
| Prepaid expenses and other assets | -$6.2M | $1.5M |
| Accounts payable and accrued expenses | -$4.0M | $13.6M |
| Accrued payroll and related liabilities | $114.0K | -$1.2M |
| Other liabilities | -$7.5M | $11.2M |
| Net cash provided by operating activities | $56.5M | $42.5M |
| Issuance of short term notes receivable | -$9.6M | $0 |
| Proceeds from short term notes receivable | $5.0M | $0 |
| Capitalized internal use software costs | -$12.5M | -$9.9M |
| Net cash used in investing activities | -$17.1M | -$9.9M |
| Proceeds from issuance of Class A common stock in initial public offering, net of underwriting discounts and commissions | $125.3M | $0 |
| Payments of initial public offering costs | -$5.7M | $0 |
| Payments on revolving credit facility | $0 | -$7.5M |
| Proceeds from revolving credit facility | $0 | $2.5M |
| Payments on settlement of convertible debt | -$24.0M | $0 |
| Proceeds from exercises of stock options | $2.7M | $328.0K |
| Payments to repurchase common stock | -$10.0M | -$333.0K |
| Net cash provided by (used in) financing activities | $88.2M | -$5.0M |
| Net increase in cash and cash equivalents | $127.6M | $27.6M |
| Cash paid for interest | $3.1M | $178.0K |
| Cash paid (received) for income taxes | $2.7M | -$1.1M |
| Reclassification of deferred offering costs to additional paid-in capital in connection with initial public offering | $4.8M | $0 |
| Issuance of warrants in connection with convertible debt modification | $0 | $2.4M |
| Net settlement of employee note receivable and payable | $0 | $484.0K |
| Issuance of employee loans for exercise of stock options | $0 | $170.0K |
No quarter-by-quarter statement was filed.
Leadership
Who has led MNTN, Inc., and when. Pick a name to see everywhere that person has worked.
- Chief financial officerPatrick Pohlen May 22, 2025 to now9
- Chief operating officerChristopher Lee Innes May 22, 2025 to now10
Board members and other officers (7)
- Board memberTony Weisman Jun 17, 2026 to now11
- Board memberMichael J. Katz Sep 8, 2026 to now12
- Board memberDana R. Settle May 22, 2025 to now13
- Board memberGrant Ries May 22, 2025 to now14
- Board memberHadi Partovi May 22, 2025 to now15
- Board memberJoseph John Kaiser May 22, 2025 to now16
- Board memberPhalachandra Bhat May 22, 2025 to now17
Former names
- MNTN Digital, Inc.Dec 17, 2021 to Jun 14, 20223
Filings
127 filings to the SEC since October 2021: 1 annual reports, 4 quarterly reports, 8 major events, 39 insider forms, 24 large holders, 51 other. The latest 20:
- Oct 7, 20264 EDGAR
- Sep 8, 20264 EDGAR
- Sep 8, 20263 EDGAR
- Sep 8, 20268-K EDGAR
- Aug 20, 20264 OWNERSHIP DOCUMENT EDGAR
- Aug 17, 20264 OWNERSHIP DOCUMENT EDGAR
- Aug 13, 2026SCHEDULE 13G/A EDGAR
- Aug 10, 202610-Q EDGAR
- Aug 6, 2026SCHEDULE 13G/A EDGAR
- Aug 6, 2026SCHEDULE 13G EDGAR
- Aug 4, 20268-K EDGAR
- Jul 16, 2026SCHEDULE 13G/A EDGAR
- Jul 8, 20264 EDGAR
- Jun 17, 20264 EDGAR
- Jun 17, 20263 EDGAR
- Jun 17, 20268-K EDGAR
- Jun 15, 20264 EDGAR
- Jun 15, 20264 EDGAR
- Jun 15, 20264 EDGAR
- Jun 15, 20264 EDGAR
The 127 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
14 open-market trades by officers, directors and large owners since October 2021: 0 buys and 14 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Aug 18, 2026 | Baroda Ventures LLC10% owner | Sale | 275,115 | $12.75 | $3.5M | Form 4 |
| Aug 14, 2026 | Baroda Ventures LLC10% owner | Sale | 33,617 | $12.56 | $422.2K | Form 4 |
| Aug 13, 2026 | Baroda Ventures LLC10% owner | Sale | 26,823 | $12.53 | $336.1K | Form 4 |
| Dec 3, 2025 | Partovi HadiDirector | Sale | 86,665 | $13.39 | $1.2M | Form 4 |
| Dec 2, 2025 | Partovi HadiDirector | Sale | 168,257 | $13.39 | $2.3M | Form 4 |
| Dec 1, 2025 | Partovi HadiDirector | Sale | 192,598 | $13.46 | $2.6M | Form 4 |
| May 23, 2025 | QUALCOMM INC/DE10% owner | Sale | 412,500 | $16.00 | $6.6M | Form 4 |
| May 23, 2025 | Mercato Partners Growth III GP, LLC10% owner | Sale | 300,000 | $16.00 | $4.8M | Form 4 |
| May 23, 2025 | Baroda Ventures LLC10% owner | Sale | 532,130 | $16.00 | $8.5M | Form 4 |
| May 23, 2025 | SETTLE DANA RDirector | Sale | 800,000 | $16.00 | $12.8M | Form 4 |
| May 23, 2025 | Partovi HadiDirector | Sale | 50,000 | $16.00 | $800.0K | Form 4 |
| May 23, 2025 | Pohlen PatrickChief Financial Officer | Sale | 255,232 | $16.00 | $4.1M | Form 4 |
| May 23, 2025 | Hot Springs Capital I LLCDirector | Sale | 900,000 | $16.00 | $14.4M | Form 4 |
| May 23, 2025 | Innes Christopher LeeChief Operating Officer | Sale | 176,933 | $16.00 | $2.8M | Form 4 |
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Wellington Management CompanySCHEDULE 13G/A, 6 filings Aug 12, 2025 to Aug 13, 202618
- FMR LLCSCHEDULE 13G, 5 filings Jun 6, 2025 to Aug 6, 202619
- Greycroft Partners II, L.P.SCHEDULE 13G/A, 2 filings Aug 14, 2025 to May 15, 202620
- WELLINGTON TRUST Co N ASCHEDULE 13G/A, 2 filings Nov 12, 2025 to May 15, 202621
- Mark Steven DouglasSCHEDULE 13G, 1 filing Feb 17, 202622
- Baroda Ventures LLCSCHEDULE 13G, 1 filing Aug 14, 202523
- MGD HoldingsSCHEDULE 13G, 1 filing Aug 14, 202524
- Mercato Partners Growth III GP, LLCSCHEDULE 13G, 1 filing Aug 14, 202525
- Peak Investment Holdings, LLCSCHEDULE 13G, 1 filing Aug 14, 202526
- Rincon Venture Partners, LLCSCHEDULE 13G, 1 filing Aug 14, 202527
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| Mercato Management Legacy, LLC | 6,168,022 | $56.7M | 100.0% | No change |
| Wellington Management Group Llp | 5,630,486 | $51.8M | 0.0% | −578,702 |
| BlackRock, Inc. | 4,259,878 | $39.2M | 0.0% | +3,998,073 |
| Fmr LLC | 3,142,100 | $28.9M | 0.0% | +317,176 |
| Greycroft LP | 2,061,643 | $19.0M | 43.0% | No change |
| Vanguard Capital Management LLC | 1,919,227 | $17.7M | 0.0% | +481,842 |
| D. E. Shaw & Co., Inc. | 1,157,448 | $10.6M | 0.0% | +681,361 |
| Geode Capital Management, LLC | 838,563 | $7.7M | 0.0% | +693,817 |
| American Financial Group Inc | 629,683 | $5.8M | 2.0% | +50,000 |
| Vanguard Portfolio Management LLC | 609,661 | $5.6M | 0.0% | +567,503 |
| Bnp Paribas Financial Markets | 579,841 | $5.3M | 0.0% | +95,547 |
| Citadel Advisors LLC | 541,761 | $5.0M | 0.0% | −88,958 |
| Morgan Stanley | 480,897 | $4.4M | 0.0% | +340,089 |
| State Street Corp | 473,020 | $4.4M | 0.0% | +424,545 |
| Goldman Sachs Group Inc | 427,867 | $3.9M | 0.0% | +286,435 |
| Raymond James Financial Inc | 404,893 | $3.7M | 0.0% | +306,436 |
| Bank Of America Corp /de/ | 396,485 | $3.6M | 0.0% | +336,137 |
| Jump Financial, LLC | 355,597 | $3.3M | 0.0% | +293,427 |
| Militia Capital Management LLC | 350,000 | $3.2M | 0.6% | −446,361 |
| Man Group plc | 341,836 | $3.1M | 0.0% | +73,022 |
| Proem Advisors LLC | 340,441 | $3.1M | 0.6% | +15,000 |
| Northern Trust Corp | 320,198 | $2.9M | 0.0% | +295,231 |
| Trexquant Investment LP | 291,432 | $2.7M | 0.0% | +8,963 |
| Jpmorgan Chase & Co | 290,845 | $2.6M | 0.0% | +128,469 |
| Clark Estates Inc/ny | 248,000 | $2.3M | 0.5% | New |
13F reports cover disclosed long positions in U.S. stocks only.
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1SEC EDGARMNTN, Inc. filings on SEC EDGAR
- 2SEC EDGARMNTN, Inc. 10-K for fiscal 2025
- 3SEC EDGARMNTN, Inc. filings on SEC EDGAR
- 4
- 5SEC EDGARMNTN, Inc. 10-Q for fiscal 2025
- 6SEC EDGARMNTN, Inc. 10-Q for fiscal 2025
- 7SEC EDGARMNTN, Inc. 10-Q for fiscal 2026
- 8SEC EDGARMNTN, Inc. 10-Q for fiscal 2025
- 9
- 10
- 11SEC EDGARTony Weisman, Board member
- 12SEC EDGARMichael J. Katz, Board member
- 13SEC EDGARDana R. Settle, Board member
- 14SEC EDGARGrant Ries, Board member
- 15SEC EDGARHadi Partovi, Board member
- 16SEC EDGARJoseph John Kaiser, Board member
- 17SEC EDGARPhalachandra Bhat, Board member
- 18
- 19SEC EDGARFMR LLC SCHEDULE 13G on MNTN, Inc.
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