PUBM (PubMatic, Inc.) Stock Financials & Earnings | Market Cap Arena

PUBM (PubMatic, Inc.) Stock Financials & Earnings | Market Cap Arena

PUBMPubMatic, Inc.

Mkt Cap$414M

Technology·Software - Application·🇺🇸 United States·NASDAQ

Revenue (TTM)$283M

Net Income (TTM)-$14M

EPS (TTM)-$0.31

Free Cash Flow (TTM)$33M

Gross Margin63.6%

Op. Margin-6.1%

Net Margin-5.1%

FCF Margin11.5%

P/S Ratio (TTM)1.5x

P/E Ratio (TTM)—

YoY Rev Growth-2.9%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$55M	$32M	-$11M
Q2 23	$63M	$38M	-$7M
Q3 23	$64M	$38M	-$571K
Q4 23	$85M	$60M	$20M
Q1 24	$67M	$41M	-$6M
Q2 24	$67M	$42M	-$4M
Q3 24	$72M	$46M	-$1M
Q4 24	$86M	$61M	$15M
Q1 25	$64M	$38M	-$12M
Q2 25	$71M	$44M	-$5M
Q3 25	$68M	$43M	-$8M
Q4 25	$80M	$55M	$9M

Revenue Breakdown

Valuation

Quarter	P/S	P/E
Q1 23	1.6x	23.0x
Q2 23	1.6x	91.9x
Q3 23	1.6x	140.0x
Q4 23	1.6x	46.7x
Q1 24	1.5x	33.7x
Q2 24	1.5x	20.7x
Q3 24	1.4x	23.9x
Q4 24	1.4x	33.1x
Q1 25	1.4x	75.7x
Q2 25	1.4x	—
Q3 25	1.4x	—
Q4 25	1.5x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	$13M	$5M
Q2 23	$16M	$11M
Q3 23	$24M	$17M
Q4 23	$29M	$20M
Q1 24	$24M	$16M
Q2 24	$12M	$7M
Q3 24	$19M	$3M
Q4 24	$18M	$9M
Q1 25	$16M	$7M
Q2 25	$15M	$9M
Q3 25	$32M	$23M
Q4 25	$18M	-$7M

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$7M
Q2 23	$5M
Q3 23	$7M
Q4 23	$9M
Q1 24	$8M
Q2 24	$5M
Q3 24	$16M
Q4 24	$9M
Q1 25	$8M
Q2 25	$6M
Q3 25	$10M
Q4 25	$25M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+1.6%	+32.2%
Q2 23	+0.5%	+32.4%
Q3 23	-1.3%	+17.1%
Q4 23	+13.9%	+11.1%
Q1 24	+20.4%	+9.3%
Q2 24	+6.2%	+1.1%
Q3 24	+12.7%	+13.9%
Q4 24	+1.1%	+10.1%
Q1 25	-4.3%	+4.8%
Q2 25	+5.7%	+7.4%
Q3 25	-5.3%	+4.4%
Q4 25	-6.4%	+1.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$7M	12.7%
Q2 23	$7M	11.5%
Q3 23	$7M	11.3%
Q4 23	$7M	8.7%
Q1 24	$9M	13.7%
Q2 24	$10M	14.4%
Q3 24	$9M	13.2%
Q4 24	$9M	11.0%
Q1 25	$10M	15.2%
Q2 25	$10M	13.8%
Q3 25	$10M	14.0%
Q4 25	$9M	11.7%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q1 23	$7M	$13M	$23M
Q2 23	$7M	$19M	$20M
Q3 23	$7M	$12M	$20M
Q4 23	$7M	$18M	$20M
Q1 24	$8M	$14M	$25M
Q2 24	$9M	$14M	$23M
Q3 24	$9M	$15M	$24M
Q4 24	$8M	$14M	$24M
Q1 25	$9M	$15M	$27M
Q2 25	$9M	$16M	$25M
Q3 25	$10M	$16M	$26M
Q4 25	$6M	$15M	$25M

Rule of 40

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q1 23	1.6%	1.4%	2.9
Q2 23	0.5%	5.9%	6.4
Q3 23	-1.3%	17.0%	15.7
Q4 23	13.9%	37.2%	51.0
Q1 24	20.4%	8.5%	28.9
Q2 24	6.2%	10.9%	17.1
Q3 24	12.7%	14.0%	26.7
Q4 24	1.1%	30.7%	31.7
Q1 25	-4.3%	-0.4%	-4.7
Q2 25	5.7%	9.0%	14.7
Q3 25	-5.3%	3.4%	-1.9
Q4 25	-6.4%	24.2%	17.8

Revenue Segments

Quarter	Reportable Segment
Q1 25	$64M
Q2 25	$71M
Q3 25	$68M
Q4 25	$80M

Revenue by Geography

Quarter	Asia Pacific	Emea	Rest Of The World	United States
Q1 23	$4M	$18M	$945K	$33M
Q2 23	$4M	$20M	$1M	$38M
Q3 23	$5M	$20M	$1M	$38M
Q4 23	$6M	$28M	$1M	$50M
Q1 24	$5M	$20M	$1M	$41M
Q2 24	$6M	$20M	$1M	$40M
Q3 24	$7M	$20M	$1M	$44M
Q1 25	$5M	$19M	$1M	$38M
Q2 25	$6M	$24M	$1M	$39M
Q3 25	$8M	$21M	$1M	$38M
Q4 25	$9M	$26M	$2M	$43M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$79M	$94M	$173M
Q2 23	$106M	$65M	$171M
Q3 23	$98M	$74M	$171M
Q4 23	$79M	$97M	$175M
Q1 24	$80M	$94M	$174M
Q2 24	$74M	$92M	$166M
Q3 24	$79M	$61M	$140M
Q4 24	$100M	$40M	$141M
Q1 25	$102M	$42M	$144M
Q2 25	$90M	$27M	$118M
Q3 25	$137M	$0	$137M
Q4 25	$146M	$0	$146M

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	53M	-7.4%
Q2 23	52M	-1.3%
Q3 23	56M	+7.6%
Q4 23	55M	-1.9%
Q1 24	50M	-8.9%
Q2 24	56M	+11.1%
Q3 24	49M	-11.7%
Q4 24	53M	+7.3%
Q1 25	48M	-8.1%
Q2 25	47M	-2.4%
Q3 25	46M	-2.7%
Q4 25	49M	+7.4%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 18	—	—
FY 19	—	—
FY 20	$271K	548
FY 21	$318K	713
FY 22	$293K	875
FY 23	$282K	948
FY 24	$278K	1K
FY 25	$275K	1K