PubMatic shares surge 13.07% after-hours as Q3 revenue and adjusted EBITDA exceed guidance, driven by AI and CTV growth.

PubMatic surged 13.07% in after-hours trading following the release of its Q3 2025 financial results, which exceeded expectations. The company reported revenue of $68 million, with adjusted EBITDA at $11.2 million, driven by 50%+ year-over-year CTV revenue growth (excluding political ads), AI-powered platform efficiency gains, and a 25% rise in mid-market DSP ad spend. Management highlighted competitive advantages from NVIDIA collaboration, AI-driven operational improvements, and expanded CTV partnerships. The results also included strong cash flow generation ($32.4 million in operating cash flow) and $180.6 million in share repurchases, signaling confidence in future performance. These metrics, coupled with bullish guidance for Q4 revenue ($73–$77 million), fueled the post-earnings rally.