PubMatic, Inc. is an independent advertising technology company based in Redwood City, California. It provides a cloud infrastructure platform that enables real-time programmatic advertising transactions for digital publishers and app developers. The company's sell-side platform (SSP) helps content creators monetize their inventory across various formats, including connected TV (CTV), mobile app, video, and desktop.
Financial Statements
In thousands, USD
FY 2025
FY 2024
FY 2023
FY 2022
Total Revenues
282,926
291,256
267,014
256,380
Cost of Sales
103,085
101,027
99,229
81,512
Gross Profit
179,841
190,229
167,785
174,868
Selling, General & Administrative Expenses
163,280
153,039
139,022
113,502
Research & Development Expenses
33,820
33,263
26,727
20,846
Operating Profit
(17,259)
3,927
2,036
40,520
Interest and Investment Income
5,455
8,477
8,828
2,214
Non-Operating Income
(4,150)
5,370
(359)
(5,267)
Total Non-Operating Income
1,305
13,847
8,469
(3,053)
Income Before Provision for Income Taxes
(15,954)
17,774
10,505
37,467
Provision for Income Taxes
(1,492)
5,270
1,624
8,762
Consolidated Net Income
(14,462)
12,504
8,881
28,705
Net Income Attributable to Common Shareholders
(14,462)
12,504
8,881
28,705
Basic EPS
-0.31
0.25
0.17
0.55
Diluted EPS
-0.31
0.23
0.16
0.50
Basic Weighted Average Shares Outstanding
47,008
49,213
51,760
52,278
Diluted Weighted Average Shares Outstanding
47,008
54,294
56,027
56,908
Shares Outstanding
46,887
48,101
50,246
52,705
FY 2025
FY 2024
FY 2023
FY 2022
Cash and Cash Equivalents
145,518
100,452
78,509
92,382
Short-Term Investments
—
40,135
96,835
82,013
Total Cash and Cash Equivalents
145,518
140,587
175,344
174,395
Accounts Receivable
358,240
424,814
375,468
314,299
Total Trade Receivables
358,240
424,814
375,468
314,299
Other Current Assets
18,889
10,145
11,143
14,784
Total Current Assets
522,647
575,546
561,955
503,478
Net Property, Plant & Equipment
90,806
102,924
81,831
97,362
Net Intangible Assets
2,704
4,284
5,864
8,299
Goodwill
29,577
29,577
29,577
29,577
Other Long-Term Assets
34,461
27,188
16,016
3,459
Total Assets
680,195
739,519
695,243
642,175
Accounts Payable
343,619
386,602
347,673
277,414
Accrued Expenses
25,278
26,365
25,684
18,936
Current Portion of Leases
6,953
5,843
6,236
5,676
Total Current Liabilities
375,850
418,810
379,593
302,026
Leases
36,910
39,538
15,607
20,915
Other Long-Term Liabilities
4,846
3,908
3,844
7,046
Total Long-Term Liabilities
41,756
43,446
19,451
27,961
Total Liabilities
417,606
462,256
399,044
329,987
Common Stock
7
6
6
6
Treasury Stock
(193,471)
(146,796)
(71,103)
(11,486)
Additional Paid-in Capital
321,062
275,304
230,419
195,677
Accumulated Other Comprehensive Income
68
(636)
(4)
(9)
Retained Earnings
134,923
149,385
136,881
128,000
Total Common Shareholders' Equity
262,589
277,263
296,199
312,188
Total Shareholders' Equity
262,589
277,263
296,199
312,188
Total Liabilities and Shareholders' Equity
680,195
739,519
695,243
642,175
FY 2025
FY 2024
FY 2023
FY 2022
Net Income
(14,462)
12,504
8,881
28,705
Depreciation & Amortization
43,769
45,352
44,770
34,249
Share-Based Compensation Expense
38,378
37,676
28,862
20,646
Other Adjustments
(9,007)
(8,325)
(5,634)
4,126
Changes in Trade Receivables
66,574
(49,345)
(75,716)
(24,408)
Changes in Accounts Payable
(42,397)
38,096
79,687
29,763
Changes in Accrued Expenses
16,179
9,627
3,035
(1,024)
Changes in Other Operating Activities
(17,975)
(12,160)
(2,764)
(4,845)
Cash from Operating Activities
81,059
73,425
81,121
87,212
Capital Expenditure
(14,345)
(17,592)
(10,601)
(35,869)
Purchases of Intangible Assets
(20,511)
(20,936)
(17,687)
(13,024)
Purchases of Investments
(26,026)
(142,016)
(140,603)
(137,793)
Proceeds from Sale of Investments
66,954
202,858
129,873
133,400
Payments for Business Acquisitions
—
—
—
(28,085)
Cash from Investing Activities
6,072
22,314
(39,018)
(81,371)
Issuance of Common Shares
3,907
4,133
3,418
4,155
Repurchases of Common Shares
(46,498)
(75,332)
(59,268)
—
Net Issuance / (Repurchases) of Common Shares
(42,591)
(71,199)
(55,850)
4,155
Other Financing Activities
(140)
(2,279)
(126)
(119)
Cash from Financing Activities
(42,731)
(73,478)
(55,976)
4,036
Effect of Exchange Rate Changes on Cash and Cash Equivalents
666
(318)
—
—
Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash