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MARKETS / NASDAQ / PUBM
NASDAQ · SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC. · MID CAP

PubMatic, Inc. PUBM

7 fiscal years on record · USD · FY2025 reported · SEC filings only
$282.9M
▼ 2.9% YoY
$-14.5M
▼ 215.7% YoY
$66.7M
▲ 19.5% YoY
In brief

What this company does

It generates revenue from the use of its platform for the purchase and sale of digital advertising inventory and value-added features and functionality. As of December 31, 2025, it had 1,030 employees, of whom 322 were located in the United States, 573 in India, and 135 in its other offices around the world. Its platform and suite of solutions serve four primary customer types: publishers, primarily large omnichannel partners across display, video, mobile web, app, and CTV; buyers, including DSPs, agency holding companies, independent agencies, and advertisers, mostly for brand-oriented spend; data partners and curators that leverage its platform for activation, measurement, and privacy-safe audience solutions; and retail and commerce media participants using its platform for onsite monetization today and offsite monetization in the future. It currently owns two issued U.S. patents, expiring in 2034, relating to online advertising and auction techniques, as well as one issued Japanese patent. PubMatic, Inc. was incorporated in the State of Delaware in 2006.

Written from the business description in PUBMATIC, INC.'s annual report to the U.S. Securities and Exchange Commission, filed 26 February 2026. Every sentence was checked against that document before publication.

Growth
USD 282.9M
Revenue, FY2025 · full 7-year series below
Revenue $M Net income $M
FY2025 · Revenue 282.9 · Net income -14.5
100M200M2019202020212022202320242025
Compound annual growth
+3.3%
+13.7%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +13.7% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
−5 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating -6.1% · Net -5.1%
10%20%-2%-4%-6%2019202020212022202320242025
ROE
FY2025 · ROE -5.4%
20%40%2019202020212022202320242025

Each USD of equity lost 5 cents this year.

Cash & shareholders
USD 44.7M
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 66.7
25.0M50.0M2019202020212022202320242025
Net buybacks $M Dividends $M
FY2025 · Dividends — · Net buybacks 44.7
25.0M50.0M2019202020212022202320242025

USD 44.7M in buybacks went back to shareholders in a year without profit.

Total assetsUSD 680.2M
EquityUSD 262.6M
CashUSD 145.5M
Current ratio1.39×

Equity funds 39% of total assets.

The 7-year record
7 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 2025202420232022202120202019
Revenue $B0.30.30.30.30.20.10.1
Operating income $B−0.00.00.00.00.10.00.0
EBITDA $B0.00.00.00.10.10.00.0
Income tax $B−0.00.00.00.00.00.00.0
Net income $B−0.00.00.00.00.10.00.0
Free cash flow $B0.10.10.10.10.10.00.0
EPS, diluted $−0.310.230.160.501.000.460.04
Dividend / sh $·······
Payout %·······
ROE %−5.44.42.910.126.228.250.0

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 33 reconciliationsAUDITED

Reconciled in 7 of 19 fiscal years. 62 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityServices-Computer Programming, Data Processing, Etc.
Listed onNASDAQ
Incorporated inDelaware
Fiscal year endsDecember 31
Data on record since2019

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