PubMatic Inc
NASDAQ:PUBM
PubMatic Inc
PubMatic, Inc. engages in the provision of specialized cloud infrastructure platform for advertising transactions. The company is headquartered in Redwood City, California. The company went IPO on 2020-12-09. The firm's technology and infrastructure provide outcomes for both Internet content creators and advertisers. Its cloud infrastructure platform provides monetization for publishers. The company leverages design, machine learning and data processing capabilities. The firm's platform is omnichannel, supporting an array of advertising formats and digital device types. The company offers cloud infrastructure for the processing of real-time, programmatic time programmatic advertising transactions and the aggregation and analysis of the data accompanying each transaction. The firm's omni-channel platform supports an array of publishers, advertisement formats and devices, including mobile application, mobile Web, desktop, display, video, over-the-top/ connected television (OTT/CTV) and rich media.
PubMatic, Inc. engages in the provision of specialized cloud infrastructure platform for advertising transactions. The company is headquartered in Redwood City, California. The company went IPO on 2020-12-09. The firm's technology and infrastructure provide outcomes for both Internet content creators and advertisers. Its cloud infrastructure platform provides monetization for publishers. The company leverages design, machine learning and data processing capabilities. The firm's platform is omnichannel, supporting an array of advertising formats and digital device types. The company offers cloud infrastructure for the processing of real-time, programmatic time programmatic advertising transactions and the aggregation and analysis of the data accompanying each transaction. The firm's omni-channel platform supports an array of publishers, advertisement formats and devices, including mobile application, mobile Web, desktop, display, video, over-the-top/ connected television (OTT/CTV) and rich media.
Revenue & Profit Beat: PubMatic delivered stronger-than-expected Q3 results, with both revenue and adjusted EBITDA coming in ahead of guidance.
AI Leadership: The company highlighted significant advancements and tangible benefits from its AI strategy, including faster bid responses, new revenue streams, and improved operational efficiency.
CTV & Emerging Revenue Growth: CTV revenue (excluding political ads) grew over 50% year-over-year, and emerging revenue streams surged more than 80%, both outpacing the market.
Expense Control: Operating expenses remained roughly flat at $51 million, with headcount steady as AI-driven efficiencies offset targeted sales investments.
Strong Cash Flow: Q3 generated $32.4 million in net operating cash flow and $22.8 million in free cash flow, with over $390 million in net cash from operations since 2021.
Guidance: Q4 revenue is expected between $73 million and $77 million; full-year 2025 revenue guided to $276–$280 million, with adjusted EBITDA between $53–$55 million.
Diversification & DSP Update: Revenue from CTV, mobile app, and emerging streams now over 40% of total; growth from mid-market DSP partners offsetting softness from a major DSP.
Margin Expansion Outlook: Management anticipates margin expansion in 2026 as revenue growth reaccelerates and efficiencies increase.
