This is a bumpy MNTN.
The CTV adtech company reported Q3 earnings yesterday, and, unfortunately, it was a tough quarter.
Q3 revenue was $80.3 million, up 15% year over year but well below its $86–$89 million guidance. In fact, revenue fell roughly 3% from Q2’s $82.5 million.
The outlook was also weak. MNTN cut its full-year revenue guidance to $311–$314 million from $347–$357 million and forecast Q4 revenue of $75–$78 million, another decline.
Why This Matters
Alongside the disappointing numbers, MNTN replaced co-founder and CEO Mark Douglas with board member Tony Weisman, former CMO of Dunkin’ and CEO of Digitas. (Impressive résumé!)
As MNTN’s lead independent director explained on the earnings call, “The Board determined it was time to bring more operational rigor to the business and asked Tony to step in as CEO.” He added that Weisman “brings the voice of the customer to MNTN.”
The call got particularly interesting once Weisman took over. He was direct about what went wrong.
“Our Q3 results and outlook are disappointing. We have much higher expectations at MNTN,” he said.
Weisman explained that after reviewing the business, he concluded the problem was “exclusively go-to-market execution.”
Specifically, MNTN had introduced a new sales compensation structure modeled after Google and Meta. According to Weisman, the changes were implemented too quickly, leading to key exits on the sales team.
“We lost about 40% of our experienced quota-carrying sellers, reducing our ability to bring in new business,” he said.
MNTN has since corrected its compensation plans and brought in two new sales leaders from Salesforce and Snap. Weisman characterized what happened as a “disruption,” rather than a systemic problem.
Experts React
Some reactions to the news from X:
Our Take
A tough quarter for a company operating in one of adtech’s hottest categories.
Performance TV has been a major bright spot for adtech in an otherwise murkier 2026. Hopefully, MNTN can regain its footing and eventually deliver the kind of growth investors expected when it went public. (And maybe even sell?)
