PubMatic, Inc. (PUBM)

NASDAQ: PUBM · Real-Time Price · USD

16.50

-0.46 (-2.71%)

At close: Sep 4, 2026, 4:00 PM EDT

16.41

-0.09 (-0.55%)

After-hours: Sep 4, 2026, 4:37 PM EDT

PubMatic Financials Overview

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Revenue & Profits

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	289.17	282.93	291.26	267.01	256.38	226.91
Revenue Growth	-1.04%	-2.86%	9.08%	4.15%	12.99%	52.54%
Gross Profit	186.31	179.84	190.23	167.79	174.87	168.6
Operating Income	-13.69	-16.36	3.93	2.04	41.44	58.79
Net Income	-13.48	-14.46	12.5	8.88	28.71	56.6
Earnings Per Share	-0.29	-0.31	0.23	0.16	0.50	1.00
EPS Growth	-	-	43.75%	-68.00%	-50.00%	115.99%

Revenue by Geography

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
United States	155.6	158.07	176.21	158.11	156.07	139.05
EMEA	93.61	90.55	83.39	84.92	71.87	62.53
APAC	33.98	28.44	25	19.29	24.84	20.91
Rest of the World	5.98	5.87	6.66	4.7	3.6	4.42
Revenue (Total)	289.17	282.93	291.26	267.01	256.38	226.91

Cash & Debt

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Investments	137.51	145.52	140.59	175.34	174.4	159.63
Total Debt	40.91	44.21	45.86	22.46	27.33	22.57
Net Cash (Debt)	96.6	101.31	94.72	152.89	147.06	137.06
Net Cash Growth	34.35%	6.96%	-38.04%	3.96%	7.30%	35.73%
Net Cash Per Share	2.08	2.16	1.74	2.73	2.58	2.42

Cash Flow & CapEx

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Operating Cash Flow	88.04	81.06	73.43	81.12	87.21	88.68
Capital Expenditures	-14.53	-14.35	-17.59	-10.6	-35.87	-30.43
Free Cash Flow	73.51	66.71	55.83	70.52	51.34	58.25
Free Cash Flow Growth	50.39%	19.49%	-20.83%	37.35%	-11.86%	37971.24%

Margins

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Gross Margin	64.43%	63.57%	65.31%	62.84%	68.21%	74.30%
Operating Margin	-4.73%	-5.78%	1.35%	0.76%	16.16%	25.91%
Pretax Margin	-4.08%	-5.64%	6.10%	3.93%	14.61%	28.56%
Profit Margin	-4.66%	-5.11%	4.29%	3.33%	11.20%	24.95%
FCF Margin	25.42%	23.58%	19.17%	26.41%	20.03%	25.67%

Valuation

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 4, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
PE Ratio	-	-	56.12	93.23	23.46	30.86
Forward PE	423.08	271.94	78.50	272.29	37.46	50.95
P/FCF Ratio	10.26	6.17	12.57	11.74	13.12	29.99
PS Ratio	2.61	1.46	2.41	3.10	2.63	7.70