PUBM
PubMatic, Inc.8.98
+0.31+3.58%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Q&A affirms AI tailwinds, adds details
Q&A reinforced PubMatic's AI leadership and diversification push, surfacing agentic details like incremental Activate fees atop SSP take and 250+ campaigns already live, while clarifying it's complementary to RTB rather than a replacement. Management highlighted Amazon as a top-5 DSP with certified SSP status and CTV inventory monetization, plus 30% YoY mid-market DSP growth. No LLM bleed seen; display ex-legacy DSP grew 20%. Legacy DSP headwind lingers into Q1 but laps by Q2 end. Google remedies could add $50-75M per 1% share, excluded from outlook. Answers were crisp. Investors will track agentic scaling and H2 acceleration.
Key Stats
Market Cap
416.80MP/E (TTM)
-Basic EPS (TTM)
-0.19Dividend Yield
0%Recent Filings
8-K
PubMatic FY25 results mixed
10-K
FY2025 results
PubMatic's FY2025 revenue fell 3% y/y to $282.9M, missing prior-year highs amid $14.2M less U.S. political spend and DSP bidding shifts, yet Q4 impressions hit 97.6T—a 31% q/q surge from Q3's 86.8T and 31% y/y gain—lifting sequential momentum in CTV and mobile. Gross margins slipped to 64% on rising data center costs, driving operating loss of $17.3M versus $3.9M profit; net loss hit $14.5M after $4.2M other expense drag. Q4 accelerated growth masked annual softness. Cash from operations reached $81.1M; $46.5M share repurchases trimmed treasury. No 2026 guidance disclosed. DSP dependency risks quarterly volatility.
8-K
Q3 beat; CTV up 50%+
PubMatic reported Q3 revenue of $68.0M, down from $71.8M last year due to absent political ads, yet beat guidance with adjusted EBITDA of $11.2M at 16% margin. CTV revenue surged over 50% year-over-year excluding politics; Activate revenue doubled. AI innovations slashed setup time 87%. Q4 guides $73M-$77M revenue, $19M-$21M adjusted EBITDA. Cash hit $136.5M.
10-Q
Q3 FY2025 results
PubMatic's Q3 revenue dipped 5% y/y to $68M while gross margin slipped to 63% from 64%, but operating loss widened to $8.4M from $1.4M as sales and marketing jumped 9% y/y. YTD revenue off 1% to $203M, with operating loss at $25.8M versus $10.9M last year (derived); net loss $6.5M or $(0.14) per share tracks to 45,933 diluted shares. Cash swelled to $137M on $62.9M YTD operating cash flow minus $23.5M capex for $39.4M FCF (derived), no revolver draws on $110M facility at 8.25%. Share repurchases totaled $46M YTD. Buyers remain concentrated.
8-K
PubMatic sues Google over ad monopoly
PubMatic sued Google on September 8, 2025, in Virginia federal court for anticompetitive behavior in publisher ad server and ad exchange markets, seeking injunctive relief and trebled damages potentially in the billions. The suit leverages an April 2025 court ruling against Google, alleging it stifled PubMatic's market share and revenue growth. Lawsuit exposes retaliation risks from Google, a key revenue partner. Litigation costs won't disrupt operations.
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