11 Best Small Cap Tech Stocks With High Upside Potential

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9. MNTN Inc. (NYSE:MNTN)

MNTN Inc. (NYSE:MNTN) is one of the best small cap tech stocks with high upside potential. On February 10, MNTN reported earnings for Q4 2025, with revenue surging 36% year-over-year to $87.1 million. The company achieved record positive net income for the quarter and saw significant gross margin expansion, which climbed to 82%. This performance was fueled by a 63% increase in active Performance TV customers, totaling 3,632.

While the company posted a full-year net loss of $6.4 million due to one-time IPO-related charges, its adjusted EBITDA for the year grew to $68 million, reflecting high operational efficiency and a successful focus on the small and mid-sized business segment within the CTV market. Despite the upward trajectory, MNTN faces challenges from larger competitors in the CTV space and a heavy reliance on its engineering team for constant innovation.

Management noted that their primary focus on SMBs might limit their reach into the large enterprise market, potentially capping certain revenue streams. For 2026, MNTN Inc. (NYSE:MNTN) issued full-year revenue guidance of $345 to $355 million and expects adjusted EBITDA to reach nearly $100 million. The CEO highlighted the role of  QuickFrame AI and new generative AI tools for video and audio in streamlining customer onboarding and improving campaign performance.

MNTN Inc. (NYSE:MNTN) operates a technology platform that brings performance marketing to Connected TV. Its self-serve technology makes running TV ads as easy as search and social and helps brands to drive measurable conversions, revenue, site visits, and more.

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