New York, Feb 11, 2026, 18:43 EST — After-hours
MNTN Inc surged 37% on Wednesday to finish at $11.15. After-hours moves were muted. Trading volume exploded to about 9.3 million shares, well above the usual 598,000. 1
The jump sends the small-cap ad-tech stock back into focus, following a spell where several growth names took a beating after disappointing results.
Connected TV is under the spotlight as it tries to lock in its place on marketers’ essential lists. With ad spending growing more selective, investors are watching closely to see whether TV ads with a performance edge can keep attracting budgets.
MNTN reported adjusted fourth-quarter revenue up 36% year over year, coming in at $87.1 million and posting an 82% gross margin. Net income reached $34.5 million, or 43 cents per share, while adjusted EBITDA hit $28.1 million. The company wrapped up 2025 with $210 million in cash and zero debt on the books. Guidance for 2026 puts revenue between $345 million and $355 million, with adjusted EBITDA expected at $94.6 million to $99.6 million. Trailing twelve-month active Performance TV customers now total 3,632. CEO Mark Douglas highlighted “the strength of our Performance TV platform,” and CFO Patrick Pohlen added, “the leverage inherent in our model as we scale.” 2
The company wants to position TV more like search or social ads: measurable, scalable, and accessible for smaller brands. Heavyweights like The Trade Desk and Roku are pushing the same “performance” message in streaming, and competition on that front is heating up.
Evercore ISI trimmed its price target on MNTN to $27, down from $33, on Wednesday but stuck with its Outperform call. The move comes despite what analysts described as a “solid beat-and-raise Q4.” The team pointed to “lower multiples among SMID Internet peers” as the reason for the cut, and said the stock’s valuation is now “largely disconnected from company fundamentals.” 3
Wellington Management entities disclosed in a Schedule 13G that they hold 5.73 million shares—amounting to 12.96% of the class. 4
MNTN debuted on the public markets in May 2025, billing itself as a performance-marketing platform focused on internet-connected TV, and brought actor Ryan Reynolds on board as chief creative officer. 5
But there’s a flip side. Ad budgets pull back or rivals start undercutting prices, and margins can evaporate fast—guidance is usually the first casualty traders ditch.
The focus now shifts to how MNTN measures up against its first-quarter delivery goals, with investors eyeing the upcoming earnings release set for around May 4, 2026, per Yahoo Finance. 6
