MNTN, Inc. (MNTN) · Nov 4, 2026 · Earnings
Miss — Revenue $80.3M vs ~$87.7M consensus; diluted EPS $0.10 vs ~$0.25
MNTN earnings missed revenue expectations, exposed go-to-market execution problems, cut 2026 guidance, and brought in a new CEO.
MNTN is a Connected TV performance-marketing software company trying to make television advertising as measurable and self-serve as search and social; before this filing, it was still posting rapid growth and had guided to $347–$357 million of 2026 revenue. The quarter missed the market’s bar by a wide margin. Revenue was $80.3 million, versus published expectations of roughly $87.7 million, while diluted EPS was $0.10 versus about $0.25 expected. The business remained profitable and adjusted EBITDA grew year over year, but the core growth engine slowed to 15% from 21% in Q2 and fell well short of the 25% growth implied by its prior outlook.
| Q3 2026 | Q3 2025 | Consensus | |
|---|---|---|---|
| Revenue (Income Statement) | $80.3M (-) | $70.0M | $87.7M |
| Diluted EPS (Income Statement) | $0.10 | $0.08 | $0.25 |
| Adjusted EBITDA (Adjusted EBITDA reconciliation) | $19.9M (+24.5%) | $16.0M | |
| FY revenue guidance (Press release) | $311M–$314M | $290.1M |
The guidance cut is the more important damage. MNTN reduced full-year revenue guidance to $311–$314 million from $347–$357 million previously, a roughly 11% reduction at the midpoint. Management attributes the reset to go-to-market execution problems and a sales-organization realignment, which means the issue is not just one weak quarter; the company now expects the disruption to affect the full-year trajectory. 〔0〕
The CEO change confirms a forced operating reset rather than a routine succession. Tony Weisman replaces Mark Douglas immediately, while COO Christopher Innes is also leaving after paid leave. Weisman brings advertiser and agency experience, and MNTN added senior leaders across marketing, agency partnerships, and sales, but those appointments are a response to the execution problem—not evidence that the turnaround has already worked.
The balance sheet and profitability provide a cushion, but they do not offset the growth reset. MNTN ended September with $252.3 million of cash, generated $43.5 million of operating cash flow in the first nine months, and produced $19.9 million of quarterly adjusted EBITDA. Those figures reduce immediate funding pressure, while the lower revenue outlook and leadership overhaul raise the question of whether the company can restore its prior growth rate. Bottom line: This filing materially weakens MNTN’s current story: a go-to-market breakdown caused a clear earnings miss, a large guidance cut, and an abrupt CEO transition. The business remains profitable and well funded, but the growth plan now needs to be rebuilt rather than merely executed.
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