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    PubMatic Announces Second Quarter 2024 Financial Results

    8/8/24 4:05:10 PM ET
    $PUBM
    Computer Software: Programming Data Processing
    Technology
    Get the next $PUBM alert in real time by email

    Delivered revenue of $67.3 million, up 6% over Q2 2023; Revenue from omnichannel video up 19%;

    Gross profit was $42.1 million, up 10% over Q2 2023;

    Net income of $2.0 million or 3% margin;

    Adjusted EBITDA of $21.1 million or 31% margin;

    Monetized impressions grew 12% over Q2 2023;

    Supply Path Optimization represented more than 50% of total activity;

    Generated $11.9 million in cash from operating activities

    NO-HEADQUARTERS/REDWOOD CITY, Calif., Aug. 08, 2024 (GLOBE NEWSWIRE) -- PubMatic, Inc. (NASDAQ:PUBM), an independent technology company delivering digital advertising's supply chain of the future, today reported financial results for the second quarter ending June 30, 2024.

    "We delivered growth in key secular areas of the business with revenue from omnichannel video, which includes CTV, up 19% year-over-year and mobile app up over 20%. Ad buying activity on PubMatic continued to grow as well, with monetized impressions up 12% over last year and supply path optimization activity representing over 50% for the first time." said Rajeev Goel, co-founder and CEO at PubMatic. "There's a fundamental shift toward programmatic as digital inventory rapidly expands and ad budgets shift to new formats and channels. PubMatic's leading sell side technology gives content creators and ad buyers full control and transparency as they seek efficient scale. Our logo list is growing, with several more marquee customers expected to be live on the platform in the coming months. I'm confident that the solutions we offer today, and the investments we continue to make, will fuel long-term, profitable growth in this large and growing market."

    Second Quarter 2024 Financial Highlights

    • Revenue in the second quarter of 2024 was $67.3 million, up 6% compared to the same period of 2023;
    • Net dollar-based retention1 was 108% for the trailing twelve-months ended June 30, 2024, compared to 100% in the comparable trailing twelve-month period a year ago;
    • GAAP net income was $2.0 million with a margin of 3%, or $0.04 per diluted share in the second quarter, compared to GAAP net loss of $(5.7) million with a margin of (9)%, or $(0.11) per diluted share in the same period of 2023;
    • Adjusted EBITDA was $21.1 million, or 31% margin, an increase over $10.8 million, or a 17% margin, in the same period of 2023;
    • Non-GAAP net income was $9.7 million, or $0.17 per diluted share in the second quarter, compared to Non-GAAP net income of $0.2 million, or $0.00 per diluted share in the same period of 2023;
    • Net cash provided by operating activities was $11.9 million, compared to $15.8 million in the same period of 2023;
    • Total cash, cash equivalents, and marketable securities of $165.6 million as of June 30, 2024 with no debt;
    • Through July 31, 2024, used $100.1 million in cash to repurchase 6.1 million shares of Class A common stock. We have $74.9 million remaining in the repurchase program.

    The section titled "Non-GAAP Financial Measures" below describes our usage of non-GAAP financial measures. Reconciliations between historical GAAP and non-GAAP information are contained at the end of this press release following the accompanying financial data.

    Business Highlights

    Omnichannel platform drives revenue in secular growth areas

    • Revenue from high value formats and channels, mobile display and omnichannel video2, grew 15% over Q2 2023 and represented 78% of total revenue in the quarter, up 5 percentage points over Q2 2023.
    • Revenue from omnichannel video, which includes CTV, grew over 19% year-over-year.
    • Monetized impressions in Q2 2024 increased 12% over Q2 2023
    • Diversified across more than 20 advertiser verticals. The top 10 ad verticals, in aggregate, grew 18% year-over-year.

    Added new premier customers and ad-buying partners

    • Supply Path Optimization represented more than 50% of total activity on our platform in Q2 2024, up from over 40% a year ago, driven by Activate and expanded strategic partnerships with top ad agencies and advertisers.
    • PubMatic's strength in SPO, private marketplace and programmatic guaranteed fueled new partnerships with premier CTV streamers including Roku and Disney+ Hotstar.
    • Added and expanded SPO relationships with top ad buyers including Omnicom Media Group Netherlands and Haleon Health.
    • Mars Petcare and their agency GroupM tapped PubMatic's Activate to create an optimized path to premium CTV supply that enabled the advertiser to exceed their sales lift goal by 20% and exceed incremental sales lift goals by 126%.

    Continued execution on 2024 operating priorities

    • Aligned with our growth investments, increased global headcount by 16% in Q2 2024 on a year-over-year basis, adding new team members across product management, engineering and go-to-market teams in order to accelerate long-term revenue growth.
    • Infrastructure optimization initiatives combined with limited capex drove nearly 60.7 trillion impressions processed in Q2 2024, an increase of 24% over Q2 2023.
    • Cost of revenue per million impressions processed decreased 14% on a trailing twelve month period, as compared to the prior period.

    "Revenue for the quarter was primarily impacted by one large DSP buyer that changed its bidding approach. Excluding this buyer, the majority of our business grew nearly 10% year over year led by strong omnichannel video growth. We increased our gross profit by 10% year over year via cost management and productivity improvements while adding 25% in gross impression capacity, and delivered excellent adjusted EBITDA profitability," said Steve Pantelick, CFO at PubMatic.

    "In the coming months, we anticipate activity from the bidding change to stabilize. With a focus on our key operating priorities, we expect to continue to invest and deliver full year incremental margin expansion."

    Financial Outlook

    Our Q3 and full year outlook reflects a balance between our fastest growing areas of the business and a headwind from one of our top DSP buyers that revised its bidding approach in late May. Further, our outlook assumes continued softness from certain ad verticals, and that general market conditions do not significantly deteriorate further as it relates to current macroeconomic and geopolitical conditions.

    Accordingly, we estimate the following:

    For the third quarter of 2024, we expect the following:

    • Revenue to be between $65 million to $67 million.
    • Adjusted EBITDA to be in the range of $15 million to $17 million, representing approximately a 24% margin at the midpoint.

    For the full year 2024, we expect the following:

    • Year-over-year revenue to be between $288 million and $292 million, representing approximately 9% growth at the midpoint.
    • Adjusted EBITDA to be in the range of $87 million to $91 million, representing approximately 31% margin at the midpoint.
    • CapEx to be approximately $16 to $18 million

    Although we provide guidance for adjusted EBITDA, we are not able to provide guidance for net income, the most directly comparable GAAP measure. Certain elements of the composition of GAAP net income, including stock-based compensation expenses, are not predictable, making it impractical for us to provide guidance on net income or to reconcile our adjusted EBITDA guidance to net income without unreasonable efforts. For the same reason, we are unable to address the probable significance of the unavailable information.

    Conference Call and Webcast details

    PubMatic will host a conference call to discuss its financial results on Thursday, August 8, 2024 at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time). A live webcast of the call can be accessed from PubMatic's Investor Relations website at https://investors.pubmatic.com. An archived version of the webcast will be available from the same website after the call.

    Non-GAAP Financial Measures

    In addition to our results determined in accordance with U.S. generally accepted accounting principles (GAAP), including, in particular operating income (loss), net cash provided by operating activities, and net income (loss), we believe that adjusted EBITDA, adjusted EBITDA margin, non-GAAP net income, non-GAAP net income per diluted share and free cash flow, each a non-GAAP measure, are useful in evaluating our operating performance. We define adjusted EBITDA as net income (loss) adjusted for stock-based compensation expense, depreciation and amortization, interest income, and provision for (benefit from) income taxes. Adjusted EBITDA margin represents adjusted EBITDA calculated as a percentage of revenue. We define non-GAAP net income as net income (loss) adjusted for stock-based compensation expense and adjustments for income taxes. We define non-GAAP free cash flow as net cash provided by operating activities reduced by purchases of property and equipment and capitalized software development costs.

    In addition to operating income and net income, we use adjusted EBITDA, non-GAAP net income, and free cash flow as measures of operational efficiency. We believe that these non-GAAP financial measures are useful to investors for period to period comparisons of our business and in understanding and evaluating our operating results for the following reasons:

    • Adjusted EBITDA and non-GAAP net income are widely used by investors and securities analysts to measure a company's operating performance without regard to items such as stock-based compensation expense, depreciation and amortization, interest expense, and provision for (benefit from) income taxes that can vary substantially from company to company depending upon their financing, capital structures and the method by which assets were acquired; and,
    • Our management uses adjusted EBITDA, non-GAAP net income, and free cash flow in conjunction with GAAP financial measures for planning purposes, including the preparation of our annual operating budget, as a measure of operating performance or, in the case of free cash flow, as a measure of liquidity, and the effectiveness of our business strategies and in communications with our board of directors concerning our financial performance; and adjusted EBITDA provides consistency and comparability with our past financial performance, facilitates period-to-period comparisons of operations, and also facilitates comparisons with other peer companies, many of which use similar non-GAAP financial measures to supplement their GAAP results.

    Our use of non-GAAP financial measures has limitations as an analytical tool, and you should not consider them in isolation or as a substitute for analysis of our financial results as reported under GAAP. Some of these limitations are as follows:

    • Adjusted EBITDA does not reflect: (a) changes in, or cash requirements for, our working capital needs; (b) the potentially dilutive impact of stock-based compensation; or (c) tax payments that may represent a reduction in cash available to us;
    • Although depreciation and amortization expense are non-cash charges, the assets being depreciated and amortized may have to be replaced in the future, and adjusted EBITDA does not reflect cash capital expenditure requirements for such replacements or for new capital expenditure requirements; and
    • Non-GAAP net income does not include: (a) the potentially dilutive impact of stock-based compensation; and (b) income tax effects for stock-based compensation

    Because of these and other limitations, you should consider adjusted EBITDA, non-GAAP net income, and free cash flow along with other GAAP-based financial measures, including net income (loss) and cash flow from operating activities, and our GAAP financial results.

    Forward Looking Statements

    This press release contains "forward-looking statements" regarding our future business expectations, including our guidance relating to our revenue and adjusted EBITDA for the third quarter of 2024 and revenue, adjusted EBITDA, and capital expenditures for full year 2024, our expectations regarding our total addressable market, future market growth, and our ability to gain market share. These forward-looking statements are based on our current expectations and assumptions regarding our business, the economy and other future conditions and may differ materially from actual results due to a variety of factors including: our dependency on the overall demand for advertising and the channels we rely on; our existing customers not expanding their usage of our platform, or our failure to attract new publishers and buyers; our ability to maintain and expand access to spend from buyers and valuable ad impressions from publishers; the rejection of the use of digital advertising by consumers through opt-in, opt-out or ad-blocking technologies or other means; our failure to innovate and develop new solutions that are adopted by publishers; the war between Ukraine and Russia and the ongoing conflict between Israel and Palestine, and the related measures taken in response by the global community; the impacts of inflation as well as fiscal tightening and changes in the interest rate environment; public health crises, including the resulting global economic uncertainty; limitations imposed on our collection, use or disclosure of data about advertisements; the lack of similar or better alternatives to the use of third-party cookies, mobile device IDs or other tracking technologies if such uses are restricted; any failure to scale our platform infrastructure to support anticipated growth and transaction volume; liabilities or fines due to publishers, buyers, and data providers not obtaining consents from consumers for us to process their personal data; any failure to comply with laws and regulations related to data privacy, data protection, information security, and consumer protection; and our ability to manage our growth. Moreover, we operate in a competitive and rapidly changing market, and new risks may emerge from time to time. For more information about risks and uncertainties associated with our business, please refer to the "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors" sections of our SEC filings, including but not limited to, our annual report on Form 10-K and quarterly reports on Form 10-Q, copies of which are available on our investor relations website at https://investors.pubmatic.com and on the SEC website at www.sec.gov. Additional information will also be set forth in our Quarterly Report on Form 10-Q for the quarter ended June 30, 2024. All information in this press release is as of August 8, 2024. We undertake no obligation to update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

    About PubMatic

    PubMatic is an independent technology company maximizing customer value by delivering digital advertising's supply chain of the future. PubMatic's sell-side platform empowers the world's leading digital content creators across the open internet to control access to their inventory and increase monetization by enabling marketers to drive return on investment and reach addressable audiences across ad formats and devices. Since 2006, PubMatic's infrastructure-driven approach has allowed for the efficient processing and utilization of data in real time. By delivering scalable and flexible programmatic innovation, PubMatic improves outcomes for its customers while championing a vibrant and transparent digital advertising supply chain.

    __________________________________

    1 Net dollar-based retention is calculated by starting with the revenue from publishers in the trailing twelve months ended June 30, 2023 (Prior Period Revenue). We then calculate the revenue from these same publishers in the trailing twelve months ended June 30, 2024 (Current Period Revenue). Current Period Revenue includes any upsells and is net of contraction or attrition, but excludes revenue from new publishers. Our net dollar-based retention rate equals the Current Period Revenue divided by Prior Period Revenue. Net dollar-based retention rate is an important indicator of publisher satisfaction and usage of our platform, as well as potential revenue for future periods

    2 Omnichannel video spans across desktop, mobile and CTV devices.



    CONDENSED CONSOLIDATED BALANCE SHEETS

    (In thousands)

    (unaudited)
     
     June 30,

    2024
     December 31,

    2023
    ASSETS   
    Current assets   
    Cash and cash equivalents$73,521  $78,509 
    Marketable securities 92,075   96,835 
    Accounts receivable, net 351,587   375,468 
    Prepaid expenses and other current assets 14,788   11,143 
    Total current assets 531,971   561,955 
    Property, equipment and software, net 60,137   60,729 
    Operating lease right-of-use assets 21,915   21,102 
    Acquisition-related intangible assets, net 5,074   5,864 
    Goodwill 29,577   29,577 
    Deferred tax assets 22,612   13,880 
    Other assets, non-current 1,817   2,136 
    TOTAL ASSETS$673,103  $695,243 
    LIABILITIES AND STOCKHOLDERS' EQUITY   
    Current liabilities   
    Accounts payable$340,793  $347,673 
    Accrued liabilities 22,550   25,684 
    Operating lease liabilities, current 6,780   6,236 
    Total current liabilities 370,123   379,593 
    Operating lease liabilities, non-current 16,199   15,607 
    Other liabilities, non-current 4,052   3,844 
    TOTAL LIABILITIES 390,374   399,044 
    Stockholders' equity   
    Common stock 6   6 
    Treasury stock (107,097)  (71,103)
    Additional paid-in capital 253,455   230,419 
    Accumulated other comprehensive loss (33)  (4)
    Retained earnings 136,398   136,881 
    TOTAL STOCKHOLDERS' EQUITY 282,729   296,199 
    TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY$673,103  $695,243 



    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

    (In thousands, except per share data)

    (unaudited)
     
     Three Months Ended June 30, Six Months Ended June 30,
      2024   2023   2024   2023 
    Revenue$67,267  $63,330  $133,968  $118,737 
    Cost of revenue(2) 25,160   25,067   50,584   48,930 
    Gross profit 42,107   38,263   83,384   69,807 
    Operating expenses:(2)       
    Technology and development 8,659   6,730   16,619   13,247 
    Sales and marketing 23,095   19,810   47,910   42,937 
    General and administrative(1) 14,338   18,857   28,365   31,429 
    Total operating expenses 46,092   45,397   92,894   87,613 
    Operating loss (3,985)  (7,134)  (9,510)  (17,806)
    Interest income 2,340   2,176   4,904   4,067 
    Other income (expense), net 4,028   (221)  4,286   (686)
    Income (loss) before income taxes 2,383   (5,179)  (320)  (14,425)
    Provision for (benefit from) income taxes 412   545   163   (2,830)
    Net income (loss)$1,971  $(5,724) $(483) $(11,595)
            
    Basic and diluted net income (loss) per share of Class A and Class B stock$0.04  $(0.11) $(0.01) $(0.22)
    Weighted-average shares used to compute net income (loss) per share attributable to common stockholders:       
    Basic 49,780   52,029   49,910   52,383 
    Diluted 55,577   52,029   49,910   52,383 
     

    (1)On June 30, 2023, a Demand Side Platform buyer of our platform filed for Chapter 11 bankruptcy. As a result, of this bankruptcy we recorded incremental bad debt expense of $5.7 million which is reflected in our GAAP net loss and adjusted EBITDA results for the three and six months ended June 30, 2023.

    (2)Stock-based compensation expense includes the following:



    STOCK-BASED COMPENSATION EXPENSE

    (In thousands)

    (unaudited)
     
     Three Months Ended June 30, Six Months Ended June 30,
     2024 2023 2024 2023
    Cost of revenue$494 $387 $931 $702
    Technology and development 1,644  1,089  3,085  2,097
    Sales and marketing 3,472  2,614  6,710  5,323
    General and administrative 4,089  3,176  8,084  6,203
    Total stock-based compensation expense$9,699 $7,266 $18,810 $14,325



    CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

    (In thousands)

    (unaudited)
     
     Six Months Ended June 30,
      2024   2023 
    CASH FLOW FROM OPERATING ACTIVITIES:   
    Net loss$(483) $(11,595)
    Adjustments to reconcile net loss to net cash provided by operating activities:   
    Depreciation and amortization 22,548   22,330 
    Stock-based compensation 18,810   14,325 
    Provision for doubtful accounts —   5,675 
    Deferred income taxes (8,732)  (13,555)
    Accretion of discount on marketable securities (2,460)  (2,042)
    Non-cash operating lease expense 3,475   3,067 
    Other 1   4 
    Changes in operating assets and liabilities:   
    Accounts receivable 23,881   41,743 
    Prepaid expenses and other assets (3,397)  907 
    Accounts payable (14,768)  (30,078)
    Accrued liabilities 56   1,875 
    Operating lease liabilities (2,970)  (2,740)
    Other liabilities, non-current 277   (1,314)
    Net cash provided by operating activities 36,238   28,602 
    CASH FLOWS FROM INVESTING ACTIVITIES:   
    Purchases of property and equipment (1,537)  (2,552)
    Capitalized software development costs (11,526)  (9,919)
    Purchases of marketable securities (96,565)  (46,715)
    Proceeds from sales of marketable securities —   18,873 
    Proceeds from maturities of marketable securities 103,758   46,500 
    Net cash provided by (used in) investing activities (5,870)  6,187 
    CASH FLOWS FROM FINANCING ACTIVITIES:   
    Payment of business combination indemnification claims holdback (2,148)  — 
    Proceeds from issuance of common stock for employee stock purchase plan 1,451   971 
    Proceeds from exercise of stock options 1,274   937 
    Principal payments on finance lease obligations (65)  (62)
    Payments to acquire treasury stock (35,868)  (23,480)
    Net cash used in financing activities (35,356)  (21,634)
    NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (4,988)  13,155 
    CASH AND CASH EQUIVALENTS - Beginning of period 78,509   92,382 
    CASH AND CASH EQUIVALENTS - End of period$73,521  $105,537 



    RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES

    (In thousands, except per share amounts)

    (unaudited)
     
     Three Months Ended June 30, Six Months Ended June 30,
      2024   2023   2024   2023 
    Reconciliation of net income (loss):       
    Net income (loss)$1,971  $(5,724) $(483) $(11,595)
    Add back (deduct):       
    Stock-based compensation 9,699   7,266   18,810   14,325 
    Depreciation and amortization 11,336   10,898   22,548   22,330 
    Interest income (2,340)  (2,176)  (4,904)  (4,067)
    Provision for (benefit from) income taxes 412   545   163   (2,830)
    Adjusted EBITDA34$21,078  $10,809  $36,134  $18,163 
    Revenue$67,267  $63,330  $133,968  $118,737 
    Adjusted EBITDA margin 31%  17%  27%  15%



     Three Months Ended June 30, Six Months Ended June 30,
      2024   2023   2024   2023 
    Reconciliation of net income (loss) per share:       
    Net income (loss)$1,971  $(5,724) $(483) $(11,595)
    Add back (deduct):       
    Stock-based compensation 9,699   7,266   18,810   14,325 
    Adjustment for income taxes (1,999)  (1,390)  (3,885)  (2,708)
    Non-GAAP net income1,2$9,671  $152  $14,442  $22 
    GAAP diluted EPS$0.04  $(0.11) $(0.01) $(0.22)
    Non-GAAP diluted EPS$0.17  $0.00  $0.26  $0.00 
    GAAP weighted average shares outstanding—diluted 55,577   52,029   49,910   52,383 
    Non-GAAP weighted average shares outstanding—diluted 55,577   56,259   55,291   56,605 
     

    Reported GAAP diluted loss per share for the six months ended June 30, 2024, and the three and six months ended June 30, 2023, were calculated using basic share count. Non-GAAP diluted earnings per share for the six months ended June 30, 2024 was calculated using diluted share count which includes approximately 5 million shares of dilutive securities related to employee stock awards. Non-GAAP diluted earnings per share for the three and six months ended June 30, 2023 was calculated using diluted share count which includes approximately 4 million shares of dilutive securities related to employee stock awards.

    __________________________________

    1 Beginning in the third quarter of fiscal 2023, we no longer exclude the impact of post-acquisition cash compensation agreements for certain key acquired employees from the Martin acquisition from Adjusted EBITDA and Non-GAAP net income. Prior period amounts for Adjusted EBITDA and Non-GAAP net income have been updated to conform to the current period presentation. For comparative purposes, the impact of this change to our adjusted EBITDA and Non-GAAP net income for the three months ended June 30, 2023 is a decrease to Adjusted EBITDA income and Non-GAAP net income of $1.2 million, and for the six months ended June 30, 2023, the impact of this change is a decrease to Adjusted EBITDA income and Non-GAAP net income of $2.2 million.

    2 Net income (loss), Adjusted EBITDA, and Non-GAAP net income for the three and six months ended June 30, 2024 include other income of $4.0 million related to our efforts to build and test integrations with the Google Privacy Sandbox.

     Three Months Ended June 30, Six Months Ended June 30,
      2024   2023   2024   2023 
    Reconciliation of cash provided by operating activities:       
    Net cash provided by operating activities$11,944  $15,848  $36,238  $28,602 
    Less: Purchases of property and equipment (736)  (1,135)  (1,537)  (2,552)
    Less: Capitalized software development costs (4,295)  (3,918)  (11,526)  (9,919)
    Free cash flow$6,913  $10,795  $23,175  $16,131 


    Investors:
    The Blueshirt Group for PubMatic
    [email protected]
    
    Press Contact:
    Broadsheet Communications for PubMatic
    [email protected]

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    • SEC Form 10-Q filed by PubMatic Inc.

      10-Q - PubMatic, Inc. (0001422930) (Filer)

      5/8/25 4:15:20 PM ET
      $PUBM
      Computer Software: Programming Data Processing
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    • PubMatic Inc. filed SEC Form 8-K: Results of Operations and Financial Condition, Other Events, Financial Statements and Exhibits

      8-K - PubMatic, Inc. (0001422930) (Filer)

      5/8/25 4:10:18 PM ET
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    Press Releases

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    • Sojern Joins Forces with PubMatic to Expand Travel Audience Data Curation

      SAN FRANCISCO, July 8, 2025 /PRNewswire/ -- Sojern, the leading marketing platform built for hospitality, is joining forces with PubMatic (NASDAQ:PUBM), an independent technology company shaping the future of digital advertising's supply chain. This new relationship enables agencies and advertisers to access and activate Sojern's extensive real-time travel data insights, with PubMatic's premium inventory, to target travelers more accurately and in a privacy-compliant way. Creating personalized, targeted campaigns requires finding the right mix of audiences and inventory supply

      7/8/25 6:00:00 AM ET
      $PUBM
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    • Cushman & Wakefield Announces Changes to its Board of Directors

      Retirement of Brett White as Chairman Appointment of Steve Plavin as Chairman and Independent Director Appointment of Susan Daimler and Timothy Wennes as Independent Directors Cushman & Wakefield (NYSE:CWK) today announced that after more than a decade of service to the company, Brett White will retire from its Board of Directors, marking an inflection point in the company's journey. "Brett has been instrumental in shaping the Cushman & Wakefield we see today, serving in roles as CEO, Executive Chairman, and later, Non-Executive Chairman," remarked Michelle MacKay, Chief Executive Officer. "His unwavering commitment to his vision for the company has left an indelible mark. Brett

      6/23/25 9:00:00 AM ET
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    • PubMatic and Classify Revolutionize Contextual Advertising with ContentGraph™ Integration

      SAN FRANCISCO, June 12, 2025 (GLOBE NEWSWIRE) -- PubMatic (NASDAQ:PUBM), an independent technology company shaping the future of digital advertising's supply chain, today announced a partnership with Classify, the AI-native platform revolutionizing digital advertising through deep semantic classification and precise contextual targeting. Classify's ContentGraph™ is an AI-powered content intelligence platform that delivers hyper-precise URL-level contextual segments, exceeding the limitations of traditional adtech. This technology is now integrated into PubMatic, which operates one of the largest SSPs, enabling the creation of granular contextual segments and PMP Deal IDs that can be point

      6/12/25 9:00:00 AM ET
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    $PUBM
    Analyst Ratings

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    • Scotiabank initiated coverage on PubMatic with a new price target

      Scotiabank initiated coverage of PubMatic with a rating of Sector Perform and set a new price target of $17.00

      12/5/24 8:16:37 AM ET
      $PUBM
      Computer Software: Programming Data Processing
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    • Evercore ISI reiterated coverage on PubMatic with a new price target

      Evercore ISI reiterated coverage of PubMatic with a rating of Outperform and set a new price target of $22.00 from $20.00 previously

      11/13/24 8:55:33 AM ET
      $PUBM
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    • PubMatic downgraded by Raymond James

      Raymond James downgraded PubMatic from Outperform to Mkt Perform

      8/9/24 7:57:49 AM ET
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    Large Ownership Changes

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    • SEC Form SC 13G filed by PubMatic Inc.

      SC 13G - PubMatic, Inc. (0001422930) (Subject)

      8/20/24 4:31:12 PM ET
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    • SEC Form SC 13G/A filed by PubMatic Inc. (Amendment)

      SC 13G/A - PubMatic, Inc. (0001422930) (Subject)

      2/14/24 9:25:13 AM ET
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    • SEC Form SC 13G/A filed by PubMatic Inc. (Amendment)

      SC 13G/A - PubMatic, Inc. (0001422930) (Subject)

      2/14/24 9:23:56 AM ET
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    Leadership Updates

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    • PubMatic and Spectrum Reach Partner to Enhance Demand, Efficiency and Curation Across CTV Marketplace

      REDWOOD CITY, Calif. and NEW YORK, April 09, 2025 (GLOBE NEWSWIRE) -- PubMatic (NASDAQ:PUBM), an independent technology company delivering digital advertising's supply chain of the future and Spectrum Reach, the advertising sales business of Charter Communications, today announced a new partnership that will bring increased demand and efficient buying to Spectrum Reach's advertising inventory while strengthening PubMatic's curated packages with local news and live sports offered through its Connected TV (CTV) Marketplace. Through this partnership, PubMatic will connect advertisers to audiences across Spectrum Reach's entire footprint. Spectrum Reach offers access to more than 450 stream

      4/9/25 8:00:00 AM ET
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      $PUBM
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    • PubMatic and DIGITS Agency Bring Advanced AdTech to Local Grocery and Convenience Stores

      NO-HEADQUARTERS/REDWOOD CITY, Calif., Nov. 22, 2024 (GLOBE NEWSWIRE) -- DIGITS, a leading independent retail media agency, and PubMatic (NASDAQ:PUBM), an independent technology company delivering digital advertising's supply chain of the future, announce their strategic partnership to leverage PubMatic's Convert, a scalable full-funnel commerce media platform, to monetize digital grocery advertising inventory and audiences programmatically with omnichannel, closed-loop reporting. With digital grocery shopping in the United States projected to surpass $200 billion for the first time in 2024 (per EMARKETER), this partnership will empower a robust network of regional grocers, convenience stor

      11/22/24 8:00:00 AM ET
      $PUBM
      Computer Software: Programming Data Processing
      Technology
    • PubMatic Announces Key Executive Hires to Bolster Commerce Media Growth and Innovation

      NO-HEADQUARTERS/REDWOOD CITY, Calif., June 25, 2024 (GLOBE NEWSWIRE) -- PubMatic (NASDAQ:PUBM), an independent technology company delivering digital advertising's supply chain of the future, is pleased to announce the addition of two executives to its commerce media team. These strategic hires will play a crucial role in advancing PubMatic's Convert product and expanding its impact across the commerce media landscape. Tim Rogers, Vice President of Commerce Media, will report to Amar Goel, the company's Founder, Chairman, and Chief Innovation Officer, and lead PubMatic's global commerce media strategy, focusing on revenue growth and strengthening the company's market position. Rogers bring

      6/25/24 9:00:00 AM ET
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    $PUBM
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    • PubMatic Announces First Quarter 2025 Financial Results; Board of Directors Authorizes $100M Expansion of Share Repurchase Program

      Delivered revenue and adjusted EBITDA ahead of guidance; Revenue from omnichannel video, including CTV, grew 20% and was 40% of total revenue; CTV revenue grew over 50% year-over-year; and Supply Path Optimization represented a record 55%+ of total activity NO-HEADQUARTERS/REDWOOD CITY, Calif., May 08, 2025 (GLOBE NEWSWIRE) -- PubMatic, Inc. (NASDAQ:PUBM), an independent technology company delivering digital advertising's supply chain of the future, today reported financial results for the first quarter ending March 31, 2025. "We are pleased with our Q1 performance, exceeding guidance on both the top and bottom line driven by the secular growth areas in our business. Ongoing investmen

      5/8/25 4:05:05 PM ET
      $PUBM
      Computer Software: Programming Data Processing
      Technology
    • PubMatic to Announce First Quarter 2025 Financial Results on May 8, 2025

      NO-HEADQUARTERS/REDWOOD CITY, Calif., April 17, 2025 (GLOBE NEWSWIRE) -- PubMatic, Inc. (NASDAQ:PUBM), an independent technology company delivering digital advertising's supply chain of the future, today announced that it will release its financial results for the first quarter ended March 31, 2025 after market close on May 8, 2025. On that day, PubMatic will host a webcast at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time) to discuss the company's financial results.  Webcast Details  What: PubMatic's First Quarter 2025 Earnings Webcast When: Thursday, May 8, 2025, at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time) Webcast: A live and archived webcast can be accessed from the News & Even

      4/17/25 4:30:01 PM ET
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      Computer Software: Programming Data Processing
      Technology
    • PubMatic Announces Fourth Quarter and Fiscal Year Ended 2024 Financial Results

      FY Revenue of $291.3 million, up 9% over 2023; Delivered FY 2024 net income of $12.5 million or 4% margin; FY adjusted EBITDA increased 23% over 2023 and was $92.3 million or 32% margin; Revenue in Q4 from CTV more than doubled year over year and represented 20% of total revenue; Supply Path Optimization represented 53% of total activity in 2024; Repurchased 4.3 million shares in 2024, representing 7.9% of fully diluted shares as of December 31, 2024 NO-HEADQUARTERS/REDWOOD CITY, Calif., Feb. 27, 2025 (GLOBE NEWSWIRE) -- PubMatic, Inc. (NASDAQ:PUBM), an independent technology company delivering digital advertising's supply chain of the future, today reported fin

      2/27/25 4:05:03 PM ET
      $PUBM
      Computer Software: Programming Data Processing
      Technology