MNTN, Inc. Faces Securities Investigation Following Q3 Earnings Miss and Sales Force Attrition

MNTN reported third-quarter 2026 revenue of $80.3 million, below its $86 million–$89 million guidance, and adjusted EBITDA of $19.9 million, below its $22 million–$25 million outlook. Management attributed the shortfall to a failed sales-compensation restructuring that led about 40% of experienced quota-carrying sales staff to leave, and cut full-year revenue guidance to $311 million–$314 million. The company also replaced CEO Mark Douglas with Tony Weisman. Multiple law firms have opened investigations into whether MNTN or senior management made misleading statements about its sales organization and growth prospects.