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Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2025

Share-Based Payment Arrangement [Abstract]

Schedule of Share-based Compensation, Stock Options, Activity

A summary of stock option activity for the six months ended June 30, 2025 was as follows:

			Shares Under Option						Weighted- Average Exercise Price						Weighted- Average Contractual Life						Aggregate Intrinsic Value
			(in thousands)																		(in thousands)
Outstanding at December 31, 2024			4,160						$	8.57
Granted			81						$	16.46
Exercised			(357)						$	4.79
Expired			(28)						$	17.23
Outstanding at June 30, 2025			3,856						$	9.02					4.3 years						$	61,640
Exercisable at June 30, 2025			3,535						$	8.68					4.0 years						$	57,996

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The weighted-average input assumptions used by the Company were as follows:

									Six Months Ended
															June 30, 2025						June 30, 2024
Expected term (in years)															5.0						5.0
Risk-free interest rate															4.45		%				3.93		%
Expected volatility															84		%				84		%
Dividend yield															—		%				—		%

The weighted-average input assumptions used by the Company were as follows:

									Six Months Ended
															June 30, 2025						June 30, 2024
Performance period (in years)															3.0						3.0
Risk-free interest rate															4.26		%				4.05		%
Expected volatility of Magnite															78		%				87		%
Expected volatility of selected peer companies															56		%				55		%
Expected correlation coefficients of Magnite															0.57						0.59
Expected correlation coefficients of selected peer companies															0.47						0.47
Dividend yield															—		%				—		%

Schedule of Nonvested Restricted Stock Units Activity

A summary of restricted stock unit ("RSU") activity for the six months ended June 30, 2025 was as follows:

			Number of Shares						Weighted-Average Grant Date Fair Value
			(in thousands)
Restricted stock units outstanding at December 31, 2024			11,809						$	10.69
Granted			4,056						$	16.08
Canceled			(589)						$	11.58
Vested and released			(3,663)						$	11.39
Restricted stock units outstanding and unvested at June 30, 2025			11,613						$	12.31

Schedule of Nonvested Performance-Based Units Activity

A summary of PSU activity for the six months ended June 30, 2025 was as follows:

			Number of Shares						Weighted-Average Grant Date Fair Value
			(in thousands)
Outstanding at December 31, 2024			1,427						$	15.35
Granted *			368						$	20.72
Vested			(108)						$	17.28
Outstanding at June 30, 2025			1,687						$	16.40
* PSUs granted and weighted-average grant date fair value include 22 shares issued above the target shares for a PSU that vested and was released during the six months ended June 30, 2025.

Schedule of Stock Based Compensation Expense

Total stock-based compensation expense recorded in the condensed consolidated statements of operations was as follows:

			Three Months Ended												Six Months Ended
			June 30, 2025						June 30, 2024						June 30, 2025						June 30, 2024
			(in thousands)												(in thousands)
Cost of revenue			$	535					$	478					$	1,107					$	978
Sales and marketing			8,448						7,972						17,592						16,208
Technology and development			4,207						4,889						8,842						10,305
General and administrative			6,368						6,321						13,226						13,000
Total stock-based compensation expense			$	19,558					$	19,660					$	40,767					$	40,491

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Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

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Tabular disclosure of the changes in outstanding nonvested performance-based units.

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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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