8-K Announcements
6Feb 26, 2026·SEC
Nov 10, 2025·SEC
Sep 8, 2025·SEC
PubMatic, Inc. (PUBM) fundamental analysis — strengths, weaknesses & financial health based on data analysis
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
PubMatic, Inc. (PUBM) stock price & volume — 10-year historical chart
PubMatic, Inc. (PUBM) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
PubMatic, Inc. (PUBM) EPS & revenue vs analyst estimates — last 4 quarters
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q1 2026Latest | Feb 26, 2026 | $0.14vs $0.01+1154.2% | $80Mvs $75M+6.3% |
| Q4 2025 | Nov 10, 2025 | $0.03vs $0.01+400.0% | $68Mvs $76M-10.7% |
| Q3 2025 | Aug 11, 2025 | $0.05vs $0.02+150.0% | $71Mvs $70M+2.2% |
| Q2 2025 | May 8, 2025 | $0.04vs $0.05+20.0% | $64Mvs $67M-5.1% |
PubMatic, Inc. (PUBM) competitors in Marketing automation and ad technology — business model, growth, and fundamentals comparison
PubMatic, Inc. (PUBM) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
PubMatic, Inc. (PUBM) annual income statement — 10-year revenue, gross profit & net income history
| Line item | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|
| Sales/Revenue | 99.26M | 113.87M | 148.75M | 226.91M | 256.38M | 267.01M | 291.26M | 282.93M |
| Revenue Growth % | - | 14.72% | 30.63% | 52.55% | 12.99% | 4.15% | 9.08% | -2.86% |
| Cost of Goods Sold | 31.23M | 36.1M | 41.19M | 58.31M | 81.51M | 99.23M | 101.03M | 103.08M |
| COGS % of Revenue | 31.47% | 31.71% | 27.69% | 25.7% | 31.79% | 37.16% | 34.69% | 36.44% |
| Gross Profit | 68.03M▲ 0% | 77.77M▲ 14.3% | 107.56M▲ 38.3% | 168.59M▲ 56.7% | 174.87M▲ 3.7% | 167.78M▼ 4.1% | 190.23M▲ 13.4% | 179.84M▼ 5.5% |
| Gross Margin % | 68.53% | 68.29% | 72.31% | 74.3% | 68.21% | 62.84% | 65.31% | 63.56% |
| Gross Profit Growth % | - | 14.31% | 38.31% | 56.74% | 3.72% | -4.05% | 13.38% | -5.46% |
| Operating Expenses | 63.06M | 69.26M | 75.81M | 109.81M | 134.35M | 165.75M | 186.3M | 197.1M |
| OpEx % of Revenue | 63.53% | 60.82% | 50.96% | 48.39% | 52.4% | 62.08% | 63.97% | 69.66% |
| Selling, General & Admin | 50.44M | 56.8M | 63.56M | 93.92M | 113.5M | 139.02M | 153.04M | 163.28M |
| SG&A % of Revenue | 50.82% | 49.89% | 42.73% | 41.39% | 44.27% | 52.07% | 52.54% | 57.71% |
| Research & Development | 12.62M | 12.45M | 12.25M | 15.88M | 20.85M | 26.73M | 33.26M | 33.82M |
| R&D % of Revenue | 12.71% | 10.94% | 8.24% | 7% | 8.13% | 10.01% | 11.42% | 11.95% |
| Other Operating Expenses | -215K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | 4.97M▲ 0% | 8.51M▲ 71.3% | 31.75M▲ 273.2% | 58.79M▲ 85.1% | 40.52M▼ 31.1% | 2.04M▼ 95.0% | 3.93M▲ 92.9% | -17.26M▼ 539.5% |
| Operating Margin % | 5% | 7.47% | 21.35% | 25.91% | 15.8% | 0.76% | 1.35% | -6.1% |
| Operating Income Growth % | - | 71.28% | 273.19% | 85.13% | -31.08% | -94.98% | 92.88% | -539.5% |
| EBITDA | 17.27M | 21.11M | 47.5M | 74.46M | 80.6M | 46.81M | 49.28M | -17.26M |
| EBITDA Margin % | 17.4% | 18.54% | 31.93% | 32.82% | 31.44% | 17.53% | 16.92% | -6.1% |
| EBITDA Growth % | - | 22.24% | 125.01% | 56.77% | 8.24% | -41.93% | 5.28% | -135.02% |
| D&A (Non-Cash Add-back) | 12.3M | 12.6M | 15.74M | 15.67M | 40.08M | 44.77M | 45.35M | 0 |
| EBIT | 5.63M | 9.22M | 31.75M | 58.79M | 37.47M | 2.04M | 3.93M | 0 |
| Net Interest Income | 877K | 1.29M | 537K | 300K | 2.21M | 8.83M | 8.48M | 0 |
| Interest Income | 877K | 1.29M | 537K | 300K | 2.21M | 8.83M | 8.48M | 0 |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | 662K | 713K | -175K | 6.01M | -3.05M | 8.47M | 13.85M | 1.3M |
| Pretax Income | 5.63M▲ 0% | 9.22M▲ 63.8% | 31.58M▲ 242.4% | 64.8M▲ 105.2% | 37.47M▼ 42.2% | 10.51M▼ 72.0% | 17.77M▲ 69.2% | -15.95M▼ 189.8% |
| Pretax Margin % | 5.67% | 8.1% | 21.23% | 28.56% | 14.61% | 3.93% | 6.1% | -5.64% |
| Income Tax | 1.21M | 2.58M | 4.97M | 8.2M | 8.76M | 1.62M | 5.27M | -1.49M |
| Effective Tax Rate % | 21.4% | 27.97% | 15.73% | 12.65% | 23.39% | 15.46% | 29.65% | 9.35% |
| Net Income | 4.42M▲ 0% | 6.64M▲ 50.1% | 26.61M▲ 300.6% | 56.6M▲ 112.7% | 28.7M▼ 49.3% | 8.88M▼ 69.1% | 12.5M▲ 40.8% | -14.46M▼ 215.7% |
| Net Margin % | 4.46% | 5.83% | 17.89% | 24.95% | 11.2% | 3.33% | 4.29% | -5.11% |
| Net Income Growth % | - | 50.12% | 300.62% | 112.69% | -49.29% | -69.06% | 40.79% | -215.66% |
| Net Income (Continuing) | 4.42M | 6.64M | 26.61M | 56.6M | 28.7M | 8.88M | 12.5M | -14.46M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 0.09▲ 0% | 0.14▲ 50.4% | 0.55▲ 292.9% | 1.00▲ 81.8% | 0.50▼ 50.0% | 0.16▼ 68.0% | 0.23▲ 43.8% | -0.31▼ 234.8% |
| EPS Growth % | - | 50.38% | 292.86% | 81.82% | -50% | -68% | 43.75% | -234.78% |
| EPS (Basic) | 0.09 | 0.14 | 0.55 | 1.13 | 0.55 | 0.17 | 0.25 | -0.31 |
| Diluted Shares Outstanding | 47.52M | 47.83M | 48.09M | 56.63M | 56.91M | 56.03M | 54.29M | 47.01M |
| Basic Shares Outstanding | 47.52M | 47.83M | 48.09M | 50.18M | 52.28M | 51.76M | 49.21M | 47.01M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - |
PubMatic, Inc. (PUBM) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|
| Total Current Assets | 149.91M | 177.64M | 327.11M | 460.75M | 503.48M | 561.96M | 575.55M | 522.65M |
| Cash & Short-Term Investments | 35.51M | 55.45M | 100.98M | 159.63M | 174.4M | 175.34M | 140.59M | 145.52M |
| Cash Only | 21.21M | 34.25M | 81.19M | 82.5M | 92.38M | 78.51M | 100.45M | 145.52M |
| Short-Term Investments | 14.29M | 21.2M | 19.79M | 77.12M | 82.01M | 96.83M | 40.13M | 0 |
| Accounts Receivable | 109.29M | 117.66M | 219.51M | 286.92M | 314.3M | 375.47M | 424.81M | 358.24M |
| Days Sales Outstanding | 401.88 | 377.13 | 538.64 | 461.53 | 447.46 | 513.25 | 532.37 | 462.16 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - |
| Other Current Assets | 0 | 0 | 0 | 0 | 14.78M | 11.14M | 10.14M | 18.89M |
| Total Non-Current Assets | 28.32M | 29.8M | 44.13M | 89.47M | 138.7M | 133.29M | 163.97M | 157.55M |
| Property, Plant & Equipment | 18.77M | 20.33M | 30.04M | 71.75M | 97.36M | 81.83M | 102.92M | 90.81M |
| Fixed Asset Turnover | 5.29x | 5.60x | 4.95x | 3.16x | 2.63x | 3.26x | 2.83x | 3.12x |
| Goodwill | 6.25M | 6.25M | 6.25M | 6.25M | 29.58M | 29.58M | 29.58M | 29.58M |
| Intangible Assets | 337K | 0 | 0 | 0 | 8.3M | 5.86M | 4.28M | 2.7M |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 632K | 1.08M | 7.08M | 10.95M | 2.41M | 2.14M | 2.32M | 3.48M |
| Total Assets | 178.22M▲ 0% | 207.44M▲ 16.4% | 371.25M▲ 79.0% | 550.22M▲ 48.2% | 642.17M▲ 16.7% | 695.24M▲ 8.3% | 739.52M▲ 6.4% | 680.2M▼ 8.0% |
| Asset Turnover | 0.56x | 0.55x | 0.40x | 0.41x | 0.40x | 0.38x | 0.39x | 0.42x |
| Asset Growth % | - | 16.4% | 78.96% | 48.21% | 16.71% | 8.26% | 6.37% | -8.02% |
| Total Current Liabilities | 90.46M | 110.5M | 191.57M | 266.96M | 302.03M | 379.59M | 418.81M | 375.85M |
| Accounts Payable | 81.86M | 99.38M | 176.73M | 244.32M | 277.41M | 347.67M | 386.6M | 343.62M |
| Days Payables Outstanding | 956.6 | 1K | 1.57K | 1.53K | 1.24K | 1.28K | 1.4K | 1.22K |
| Short-Term Debt | 0 | 0 | 0 | 3.98M | 0 | 6.37M | 0 | 6.95M |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 0 | 9.99M | 0 | 13.29M | 125K | 12.41M | 19.98M | 368.9M |
| Current Ratio | 1.66x | 1.61x | 1.71x | 1.73x | 1.67x | 1.48x | 1.37x | 1.39x |
| Quick Ratio | 1.66x | 1.61x | 1.71x | 1.73x | 1.67x | 1.48x | 1.37x | 1.39x |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 64.12M | 64.62M | 4.24M | 26.07M | 27.96M | 19.45M | 43.45M | 41.76M |
| Long-Term Debt | 276K | 0 | 1.56M | 0 | 0 | 0 | 0 | 36.91M |
| Capital Lease Obligations | 0 | 0 | 0 | 17.84M | 20.91M | 15.61M | 39.54M | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 6.07M | 573K | 0 | 0 | 0 |
| Other Non-Current Liabilities | 63.84M | 64.62M | 2.68M | 2.16M | 6.47M | 3.36M | 3.91M | 4.85M |
| Total Liabilities | 154.57M | 175.13M | 195.82M | 293.04M | 329.99M | 399.04M | 462.26M | 417.61M |
| Total Debt | 276K | 0 | 1.56M | 25.69M | 26.59M | 28.21M | 45.38M | 43.86M |
| Net Debt | -20.94M | -34.25M | -79.63M | -56.82M | -65.79M | -50.3M | -55.07M | -101.66M |
| Debt / Equity | 0.01x | - | 0.01x | 0.10x | 0.09x | 0.10x | 0.16x | 0.17x |
| Debt / EBITDA | 0.02x | - | 0.03x | 0.34x | 0.33x | 0.60x | 0.92x | - |
| Net Debt / EBITDA | -1.21x | -1.62x | -1.68x | -0.76x | -0.82x | -1.07x | -1.12x | - |
| Interest Coverage | - | - | - | - | - | - | - | - |
| Total Equity | 23.65M▲ 0% | 32.32M▲ 36.7% | 175.43M▲ 442.8% | 257.18M▲ 46.6% | 312.19M▲ 21.4% | 296.2M▼ 5.1% | 277.26M▼ 6.4% | 262.59M▼ 5.3% |
| Equity Growth % | - | 36.66% | 442.78% | 46.6% | 21.39% | -5.12% | -6.39% | -5.29% |
| Book Value per Share | 0.50 | 0.68 | 3.65 | 4.54 | 5.49 | 5.29 | 5.11 | 5.59 |
| Total Shareholders' Equity | 23.65M | 32.32M | 175.43M | 257.18M | 312.19M | 296.2M | 277.26M | 262.59M |
| Common Stock | 19.03M | 19.03M | 6K | 6K | 6K | 6K | 6K | 7K |
| Retained Earnings | 9.44M | 16.08M | 42.69M | 99.3M | 128M | 136.88M | 149.38M | 134.92M |
| Treasury Stock | -11.43M | -11.43M | -11.43M | -11.49M | -11.49M | -71.1M | -146.8M | 0 |
| Accumulated OCI | -40.17M | 6K | 1K | -36K | -9K | -4K | -636K | 68K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
PubMatic, Inc. (PUBM) cash flow — operating, investing & free cash flow history
| Line item | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|
| Cash from Operations | 15.6M | 35.13M | 24.33M | 88.68M | 87.21M | 81.12M | 73.42M | 81.06M |
| Operating CF Margin % | 15.71% | 30.85% | 16.36% | 39.08% | 34.02% | 30.38% | 25.21% | 28.65% |
| Operating CF Growth % | - | 125.23% | -30.73% | 264.49% | -1.66% | -6.98% | -9.49% | 10.4% |
| Net Income | 4.42M | 6.64M | 26.61M | 56.6M | 28.7M | 8.88M | 12.5M | -14.46M |
| Depreciation & Amortization | 12.29M | 12.67M | 15.74M | 23.07M | 34.25M | 44.77M | 45.35M | 43.77M |
| Stock-Based Compensation | 3.17M | 2M | 3.56M | 14.11M | 20.65M | 28.86M | 37.68M | 38.38M |
| Deferred Taxes | -4K | 193K | 2.93M | 4.75M | -7.17M | -13.41M | -10.98M | -14.49M |
| Other Non-Cash Items | 436K | 4.06M | 363K | -3.39M | 11.29M | 7.77M | 2.66M | 27.86M |
| Working Capital Changes | -4.72M | 9.56M | -24.89M | -6.46M | -514K | 4.24M | -13.78M | 0 |
| Change in Receivables | -24.18M | -11.92M | -102.17M | -67.41M | -24.41M | -75.72M | -49.34M | 66.57M |
| Change in Inventory | 44.28M | 2.63M | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | 17.56M | 18.46M | 77.36M | 68.3M | 29.76M | 79.69M | 38.1M | -42.4M |
| Cash from Investing | -12.75M | -22.09M | -29.88M | -96.72M | -81.37M | -39.02M | 22.31M | 6.07M |
| Capital Expenditures | -9.66M | -14.99M | -24.18M | -30.43M | -35.87M | -10.6M | -17.59M | -14.35M |
| CapEx % of Revenue | 9.73% | 13.17% | 16.25% | 13.41% | 13.99% | 3.97% | 6.04% | 5.07% |
| Acquisitions | 4.47M | -500K | 0 | 0 | -28.09M | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - |
| Other Investing | -4.47M | 500K | -7.23M | -8.93M | -13.02M | -17.69M | -20.94M | -20.51M |
| Cash from Financing | -7.99M | -1K | 52.48M | 9.36M | 4.04M | -55.98M | -73.48M | -42.73M |
| Debt Issued (Net) | -3M | 0 | 0 | -10K | -119K | -126K | -131K | 0 |
| Equity Issued (Net) | -1000K | -5K | 1000K | -858K | 0 | -1000K | -1000K | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | -301K | -5K | -3K | -858K | 0 | -59.27M | -75.33M | 2.15M |
| Other Financing | -3.99M | 4K | 6.68M | 10.23M | 4.16M | 3.42M | 1.99M | -42.73M |
| Net Change in Cash | -5.15M▲ 0% | 13.04M▲ 353.3% | 46.94M▲ 260.1% | 1.32M▼ 97.2% | 9.88M▲ 650.0% | -13.87M▼ 240.5% | 21.94M▲ 258.2% | 45.07M▲ 105.4% |
| Free Cash Flow | 5.94M▲ 0% | 20.13M▲ 239.0% | -7.07M▼ 135.1% | 49.32M▲ 797.3% | 38.32M▼ 22.3% | 52.83M▲ 37.9% | 34.9M▼ 33.9% | 66.71M▲ 91.2% |
| FCF Margin % | 5.98% | 17.68% | -4.75% | 21.74% | 14.95% | 19.79% | 11.98% | 23.58% |
| FCF Growth % | - | 239% | -135.14% | 797.3% | -22.31% | 37.88% | -33.95% | 91.17% |
| FCF per Share | 0.12 | 0.42 | -0.15 | 0.87 | 0.67 | 0.94 | 0.64 | 1.42 |
| FCF Conversion (FCF/Net Income) | 3.52x | 5.29x | 0.91x | 1.57x | 3.04x | 9.13x | 5.87x | -5.60x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 769K | 3.02M | 2.69M | 6.79M | 9.19M | 15.63M | 14.18M | 0 |
PubMatic, Inc. (PUBM) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | 18.71% | 23.74% | 25.62% | 26.17% | 10.08% | 2.92% | 4.36% | -5.36% |
| Return on Invested Capital (ROIC) | 137.44% | 1634.25% | 50.74% | 29.78% | 13.6% | 0.62% | 1.26% | -6.76% |
| Gross Margin | 68.53% | 68.29% | 72.31% | 74.3% | 68.21% | 62.84% | 65.31% | 63.56% |
| Net Margin | 4.46% | 5.83% | 17.89% | 24.95% | 11.2% | 3.33% | 4.29% | -5.11% |
| Debt / Equity | 0.01x | - | 0.01x | 0.10x | 0.09x | 0.10x | 0.16x | 0.17x |
| FCF Conversion | 3.52x | 5.29x | 0.91x | 1.57x | 3.04x | 9.13x | 5.87x | -5.60x |
| Revenue Growth | - | 14.72% | 30.63% | 52.55% | 12.99% | 4.15% | 9.08% | -2.86% |
PubMatic, Inc. (PUBM) SEC filings — annual & quarterly reports (10-K, 10-Q)
Feb 26, 2026·SEC
Nov 10, 2025·SEC
Sep 8, 2025·SEC
PubMatic, Inc. (PUBM) stock FAQ — growth, dividends, profitability & financials explained
PubMatic, Inc. (PUBM) reported $282.9M in revenue for fiscal year 2025. This represents a 185% increase from $99.3M in 2018.
PubMatic, Inc. (PUBM) saw revenue decline by 2.9% over the past year.
PubMatic, Inc. (PUBM) reported a net loss of $14.5M for fiscal year 2025.
PubMatic, Inc. (PUBM) has a return on equity (ROE) of -5.4%. Negative ROE indicates the company is unprofitable.
PubMatic, Inc. (PUBM) generated $32.6M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.
PubMatic, Inc. (PUBM) financial analysis — history, returns, DCA and operating performance tools
Historical returns with dividends reinvested
Dollar cost averaging vs lump sum
Yield, growth, payout safety & DRIP
EPS trends, net income & profitability
Long-term charts & historical price data
Sales growth patterns & revenue breakdown
30 years of market, efficiency and balance-sheet ratios
DCF intrinsic value, peer multiples & estimates