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Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2025

Share-Based Payment Arrangement [Abstract]

Schedule of Share-based Compensation, Stock Options, Activity

A summary of stock option activity for the nine months ended September 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			(507)						$	5.86
Expired			(28)						$	17.23
Outstanding at September 30, 2025			3,706						$	9.05					4.1 years						$	51,112
Exercisable at September 30, 2025			3,440						$	8.76					3.8 years						$	48,725

Schedule of Weighted-Average Input Assumptions

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

									Nine Months Ended
															September 30, 2025						September 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:

									Nine Months Ended
															September 30, 2025						September 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 nine months ended September 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			4,284						$	16.54
Canceled			(767)						$	11.70
Vested and released			(4,774)						$	11.54
Restricted stock units outstanding and unvested at September 30, 2025			10,552						$	12.61

Schedule of Nonvested Performance-Based Units Activity

A summary of PSU activity for the nine months ended September 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 September 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 nine months ended September 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												Nine Months Ended
			September 30, 2025						September 30, 2024						September 30, 2025						September 30, 2024
			(in thousands)												(in thousands)
Cost of revenue			$	479					$	523					$	1,586					$	1,501
Sales and marketing			7,777						7,755						25,369						23,963
Technology and development			3,959						4,288						12,801						14,593
General and administrative			5,829						6,104						19,055						19,104
Total stock-based compensation expense			$	18,044					$	18,670					$	58,811					$	59,161

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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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