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Financials · PUBM

PubMatic Inc. (PUBM) financials

For the twelve months ended Sep 30, 2026, PubMatic Inc. reported $300.78M of revenue and -$1.48M of net income.

Revenue, TTM
$300.78M
Revenue growth, YoY
+4.3%
Net income, TTM
-$1.48M
Net margin
-0.5%
Free cash flow, TTM
$66.68M
EPS, diluted, TTM
-$0.05
Cash
$120.33M
P/S
2.88
Market cap
$866.8M
Annual revenue$282.93M
FY2019FY2025
Annual net income-$14.46M
FY2019FY2025
Annual free cash flow$66.71M
FY2019FY2025

PUBM revenue and earnings growth

PUBM revenueQ3 2026$79.58M

Quarter YoY
+17.1%
QoQ
+1.3%
FY YoY
-2.9%
5Y CAGR
+13.7%

PUBM revenue was $79.58M in fiscal Q3 2026 (ended Sep 30, 2026), up 17.1% from a year earlier and up 1.3% from the prior quarter. For the full fiscal 2025 it was $282.93M, down 2.9% from fiscal 2024. Compound annual growth was +13.7% over 5 years. It rose in 5 of the last 6 fiscal years.

PUBM net incomeQ3 2026$5.54M

PUBM net income was $5.54M in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$6.45M a year earlier. For the full fiscal 2025 it was -$14.46M, compared with $12.50M in fiscal 2024.

PUBM EPSQ3 2026$0.11

PUBM diluted EPS was $0.11 in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$0.14 a year earlier. For the full fiscal 2025 it was -$0.31, compared with $0.23 in fiscal 2024.

PUBM free cash flowQ3 2026$20.87M

Quarter YoY
-24.7%
QoQ
+20.9%
FY YoY
+19.5%
5Y CAGR
+237.2%

PUBM free cash flow was $20.87M in fiscal Q3 2026 (ended Sep 30, 2026), down 24.7% from a year earlier and up 20.9% from the prior quarter. For the full fiscal 2025 it was $66.71M, up 19.5% from fiscal 2024. Compound annual growth was +237.2% over 5 years. It rose in 3 of the last 6 fiscal years.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
Revenue$282.93M$291.26M$267.01M$256.38M$226.91M$148.75M$113.87M
Cost of revenue$103.08M$101.03M$99.23M$81.51M$58.31M$41.19M$36.10M
Gross profit$179.84M$190.23M$167.78M$174.87M$168.59M$107.56M$77.77M
Research and development$33.82M$33.26M$26.73M$20.85M$15.88M$12.25M$12.45M
Selling, general and admin$60.34M$57.67M$56.22M$44.94M$35.76M$20.26M$20.31M
Operating income-$17.26M$3.93M$2.04M$40.52M$58.79M$31.75M$8.51M
Pre-tax income-$15.95M$17.77M$10.51M$37.47M$64.80M$31.58M$9.22M
Income tax-$1.49M$5.27M$1.62M$8.76M$8.20M$4.97M$2.58M
Net income-$14.46M$12.50M$8.88M$28.70M$56.60M$26.61M$6.64M
EPS, basic-$0.31$0.25$0.17$0.55$1.13$0.51$0.04
EPS, diluted-$0.31$0.23$0.16$0.50$1.00$0.46$0.04
Diluted shares47.0M54.3M56.0M56.9M56.6M17.1M12.2M

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
Cash and equivalents$145.52M$100.45M$78.51M$92.38M$82.50M$81.19M$34.25M
Receivables$358.24M$424.81M$375.47M$314.30M$286.92M$219.51M-
Current assets$522.65M$575.55M$561.96M$503.48M$460.75M$327.11M-
Goodwill$29.58M$29.58M$29.58M$29.58M$6.25M$6.25M-
Total assets$680.20M$739.52M$695.24M$642.17M$550.22M$371.25M-
Current liabilities$375.85M$418.81M$379.59M$302.03M$266.96M$191.57M-
Total liabilities$417.61M$462.26M$399.04M$329.99M$293.04M$195.82M-
Shareholders' equity$262.59M$277.26M$296.20M$312.19M$257.18M$175.43M$13.29M

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
Operating cash flow$81.06M$73.42M$81.12M$87.21M$88.68M$24.33M$35.13M
Capital expenditures$14.35M$17.59M$10.60M$35.87M$30.43M$24.18M$9.55M
Free cash flow$66.71M$55.83M$70.52M$51.34M$58.25M$153.0K$25.57M
Investing cash flow$6.07M$22.31M-$39.02M-$81.37M-$96.72M-$29.88M-$22.09M
Financing cash flow-$42.73M-$73.48M-$55.98M$4.04M$9.36M$52.48M-$1.0K
Share repurchases$46.50M$75.33M$59.27M$0$52.0K$3.0K$5.0K
Depreciation and amortization$19.00M$24.80M$28.50M$23.60M$15.70M$15.70M$6.90M

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
Revenue growth, YoY-2.9%9.1%4.1%13.0%52.5%30.6%-
Net income growth, YoY-40.8%-69.1%-49.3%112.7%300.6%-
EPS growth, YoY-43.8%-68.0%-50.0%---
Gross margin63.6%65.3%62.8%68.2%74.3%72.3%68.3%
Operating margin-6.1%1.3%0.8%15.8%25.9%21.3%7.5%
Net margin-5.1%4.3%3.3%11.2%24.9%17.9%5.8%
Free cash flow margin23.6%19.2%26.4%20.0%25.7%0.1%22.5%
Return on equity-5.5%4.5%3.0%9.2%22.0%15.2%50.0%
Return on assets-2.1%1.7%1.3%4.5%10.3%7.2%-
Current ratio1.391.371.481.671.731.71-

Source: XBRL data PubMatic Inc. files with the SEC, latest filing dated Nov 9, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

PUBM peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
PUBM$300.78M+4.3%-$1.48M-0.5%$866.8M
GOOGL$471.10B+22.2%$235.69B50.0%$3.54T
GOOG$471.10B+22.2%$235.69B50.0%$3.52T
META$241.61B+27.5%$75.25B31.1%$1.64T
APP$7.61B+57.8%$5.01B65.9%$135.84B
NBIS$529.80M+479.0%$82.50M15.6%$38.45B
BIDUCN¥129.08B-3.0%CN¥5.59B4.3%$27.57B

PUBM FAQ

9 questions
  • What is PUBM revenue?
    PubMatic Inc. (PUBM) reported $300.78M of revenue for the twelve months ended Sep 30, 2026. That is up 4.3% from the year before. Revenue for fiscal 2025 was $282.93M.
  • Is PUBM profitable?
    No. PubMatic Inc. reported a net loss of $1.48M for the twelve months ended Sep 30, 2026.
  • How much cash and debt does PUBM have?
    PubMatic Inc. reported $120.33M in cash and cash equivalents on its most recent balance sheet in SEC filings.
  • How fast is PUBM revenue growing?
    PubMatic Inc.'s revenue changed -2.9% in fiscal 2025, to $282.93M. Its compound annual growth rate was +13.7% over 5 years.
  • What is PUBM gross margin?
    PubMatic Inc.'s gross profit was $199.36M on $300.78M of revenue for the twelve months ended Sep 30, 2026, a gross margin of 66.3%.
  • What is PUBM free cash flow?
    PubMatic Inc. generated $66.68M of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $86.47M less capital expenditures.
  • What is PUBM earnings per share?
    Diluted earnings per share were -$0.05 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
  • When did PUBM last report financial results?
    The latest statements here come from PubMatic Inc.'s 10-Q filed on Nov 9, 2026, covering the period ended Sep 30, 2026.
  • Where does this PUBM financial data come from?
    Quantisnow builds these statements from the structured XBRL data PubMatic Inc. files with the SEC. It is provided for information only and is not investment advice.