MNTN - Stock Down More than 50% Following Sales Force Disruption and Reduced Financial Outlook - Kehoe Law Firm, P.C. Investigating

PHILADELPHIA, Nov. 05, 2026 (GLOBE NEWSWIRE) -- Kehoe Law Firm, P.C. is investigating potential securities claims on behalf of investors of MNTN, Inc. ("MNTN" or the "Company") (NYSE: MNTN) following the Company’s November 4, 2026 disclosures concerning sales force attrition, disappointing third-quarter results, and reduced financial guidance.

On August 4, 2026, MNTN announced its second-quarter financial results and provided third-quarter revenue guidance of $86 million to $89 million and adjusted EBITDA guidance of $22 million to $25 million. The Company also projected full-year 2026 revenue of $347 million to $357 million and adjusted EBITDA of $96 million to $101 million.

During the Company's August 4 earnings conference call, then-CEO Mark Douglas discussed MNTN's investments in its sales organization and described its products and go-to-market structure as: “ready to execute at greater scale.” Douglas also discussed the Company's development of specialized, industry-focused sales teams, stating: “That knowledge makes our sales process and the customer experience more effective.”

On November 4, 2026, MNTN reported third-quarter revenue of approximately $80.3 million and adjusted EBITDA of approximately $19.9 million, both below the Company's August guidance. MNTN also substantially lowered its full-year financial outlook, projecting revenue of approximately $311 million to $314 million and adjusted EBITDA of approximately $66 million to $68 million.

During the November 4 earnings conference call, newly appointed CEO Tony Weisman attributed the disappointing results to significant disruptions involving the Company's sales organization. Weisman disclosed: “We lost about 40% of our experienced quota-carrying sellers”

Weisman further explained that changes to the Company's sales structure and employee compensation arrangements contributed to the departures and adversely affected its ability to acquire new customers. Significantly, when discussing the timing of these changes, Weisman stated: “These were told to the team in late Q2”

Following the disclosures, MNTN shares fell more than 50% during intraday trading on November 5, 2026.

MNTN (NYSE: MNTN) Investors:

If you purchased or otherwise acquired MNTN securities and suffered financial losses, you are encouraged to contact Kehoe Law Firm or Michael Yarnoff, Esq., (215) 792-6676, Ext. 804, myarnoff@kehoelawfirm.com, info@kehoelawfirm.com, to learn more about the investigation and receive a free, no-obligation evaluation of potential legal claims.

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