MNTN, Inc. Class A

Welcome to the Melton Second Quarter 2026 Results Webcast. After today's prepared remarks, we will host a question and answer session. If you would like to ask a question, please raise your hand. If you have dialed in to today's call, please press star 9 to raise your hand and star 6 to unmute. I will now hand the conference over to Brinley Johnson. Please go ahead.

Good afternoon. Thank you for joining us for Melton's Second Quarter 2026 Earnings Call. With me today is Mark Douglas, CEO, and Patrick Poland, CFO. Just to remind everyone, today's call includes four looking statements that are subject to risks and uncertainties, and actual results could materially differ from those anticipated in these four looking statements. For the risks and uncertainties that may affect future results, please see our most recently filed periodic report, which is also available on our website. We will also discuss non-GAAP financial measures on today's call. Reconciliations of these measures are available in our earnings materials on our website. With that, I'll turn the call over to Mark. Please, go ahead.

Thank you for joining us today. Mound delivered a strong second quarter with revenue of $82.5 million, representing 21% year-over-year growth, and adjusted EBITDA of $21.5 million, representing 48% year-over-year growth. Both of these metrics finish at the high end of our guidance. We're pleased with the quarter and are reiterating our 2026 full-year outlook. Before I get into the details, I want to talk about our strategy. Performance TV is about giving businesses that historically haven't had access to television a way to reach specific consumers across premium streaming inventory and measure whether that advertising is driving revenue. Mountain created this category, and now we're seeing Performance TV move from an early adopter market toward a mainstream part of the marketing mix. To capture that move, Mountain began expanding our sales organization in Q4 2025, strengthening our leadership in sales and increasing our investment in marketing. For the next stage of growth, Mountain is focused on three main priorities, expanding our products and continuing to invest in AI, broadening access to premium television, and strengthening our go-to-market organization. This isn't a change in strategy or a new story for Mountain. It's the same opportunity we've been building towards over the past year, now with products and go-to-market structure ready to execute at greater scale. Turning to our product suite, I've said many times that half of the company's headcount is in engineering, and they've been building products. We released new versions of Mountain's Performance TV platform that create distinct versions for small business, mid-market, and upper mid-market. We found that different size businesses need different levels of features and complexity, so we've divided the platform into three main tiers, Express, Pro, and Premium. Mountain Express was launched on April 1st. Express is specifically built for small business, distinct from mid-size advertisers. Grants can get live in minutes and do so from any device. We've had over 7,000 signups for Express in the first 120 days since we launched. Importantly, hundreds of those signups have become paying customers and momentum continues. The revenue contribution from Express is small today in comparison to Mountain's overall business, but it's growing quickly and I believe will be a meaningful contributor to growth as we enter 2027. For mid-sized customers, we've added significant agentic AI technology into the platform that gives our customers even more automation and more performance. We surround them with AI tech to give our customers control of the daily decision-making. We're leveraging AI across the organization, especially within engineering where we're AI native, using AI to build faster while embedding AI throughout our product suite. We've talked about Quick Frame AI a number of times, and its importance for enabling the S&B opportunity in connected TV. Quick Frame AI is doing exactly what we planned, lowering creative barriers, increasing launch rates, and making it easier for businesses to create television-ready advertising. We've had over 37,000 Quick Frame AI sign-ups in Q2, bringing us to over 73,000 sign-ups year-to-date. We're seeing an incredibly diverse set of businesses across retail, financial services, healthcare, technology, education, and many other industries successfully leverage the technology to create their ads. There's broad interest in AI creative, and it's critical for Performance TV. We've always believed that Mountain customers should have access to and the ability to specify ad placement alongside the same premium television inventory as the world's largest brands. In January this year, we doubled down on premium inventory as part of our platform. Today, our customers have the ability to insert the ads alongside nearly every major sports league, in addition to the premium streaming shows on our network of partners. As a result of that focus on super premium content, we have many customers who advertise during the FIFA World Cup games, March Madness, and on MLB, NBA, NHL, and soon the NFL. For the first time, any size business can consistently get guaranteed access to television's biggest moments and make that part of their ad strategy. To fuel the growth of new customers, we are strengthening our go-to-market organization. The first half of this year has been focused on construction with additional leadership at in sales, marketing, and business development. We've built vertical teams that understand the economics, objectives, creative needs, and customer acquisition dynamics of specific industries. That knowledge makes our sales process and the customer experience more effective. In summary, we expect the benefits of our strategic investments to contribute to stronger growth in the second half of the year and meaningfully in 2027 as the core business accelerates, complemented by new revenue streams from Express and Premium. Our focus remains simple. Help more businesses advertise on television than ever before while continuing to grow efficiently, profitably, and strengthen the category we created. Now, turn it over to Patrick.