What is the market's earnings forecast for Pubmatic next quarter?

What is the revenue and EPS growth rate for Pubmatic year over year?

What is Pubmatic's latest dividend and current dividend yield?

What is Pubmatic's gross profit margin?

What were the key takeaways from Pubmatic's earnings call?

What does Pubmatic do and what are its main business segments?

What were the key takeaways from Pubmatic’s earnings call?

Did Pubmatic beat or miss consensus estimates last quarter?

- **Revenue Growth Accelerates**: Core business (83% of Q4 revenue) grew 18% YoY, with emerging AI solutions up 75% YoY. Mobile app and CTV revenue each grew over 20% YoY.
- **AI-Driven Efficiency**: 87% faster campaign setup, 70% faster issue resolution, and 40% of new code written by AI. 10% of publishers now generate AI-driven revenue.
- **Strategic Expansion**: 50 new DSP partners, 28/30 global CTV streamers, and Google AdMob integration. Returning to double-digit growth in H2 2026.
- **AI Market Leadership**: 250+ agentic campaigns, 5x cost efficiency vs. traditional ads, and 25% AI adoption forecast by 2028.

**【CEO Summary Section】**
- **Q4 and Full-Year Growth**: Revenue exceeded expectations, driven by 18% year-over-year growth in core business (excluding political and legacy DSP). Emerging revenues (AI solutions, CTV, mobile) grew 75% YoY, now 12% of total revenue. CTV grew over 50% YoY, mobile app revenue up 25% YoY.
- **AI Leadership**: Launched AgenticOS, enabling agent-to-agent transactions. Over 250 agentic campaigns run, with 10% of publishers generating AI-driven revenue. AI reduces campaign setup time by 87% and issue resolution by 70%.
- **Strategic Priorities**: Expanded DSP partnerships (+50 new partners), strengthened buyer-focused sales team (+20% YoY), and integrated with major streamers (28/30 global CTV publishers). Mobile app partnerships include Google AdMob and AdManager.
- **2026 Outlook**: Double-digit revenue growth expected in H2, driven by AI, CTV, mobile, and emerging products. AI will expand margins and reduce operational costs (e.g., 40% of new code written by AI in 2025 H2).

**【CFO Financial Commentary】**
- **Q4 Financials**: GAAP net income $6.7M, Non-GAAP adjusted EBITDA $27.8M (35% margin). Free cash flow $46M, up 32% YoY. Mobile app revenue +25% YoY, CTV +18% YoY (excluding political). Emerging revenues +75% YoY.
- **Cost Efficiency**: Unit costs declined 20% YoY. AI automation reduced legal contract cycle times by 15%, accounting efficiency +35%, and FP&A data processing by 33%. Operating expenses flat YoY despite +20% sales team growth.
- **2026 Guidance**: Q1 revenue $58-60M (high single-digit YoY growth), returning to double-digit growth in H2. Full-year capex $15-19M, focused on AI workloads. Free cash flow expected to grow with revenue scale.

**【Q&A Key Highlights】**
- **Amazon Partnership**: PubMatic is one of 3 SSPs in Amazon's Certified Supply Exchange program. Monetizes CTV, mobile, and display inventory through Amazon's wrappers, with Amazon as top 5 DSP on PubMatic.
- **AI Differentiation**: Unique advantages include 100,000+ publisher integrations, Activate direct buying, AgenticOS protocol, and NVIDIA-powered AI infrastructure. 10% of publishers now generate AI-driven revenue.
- **DSP Diversification**: Added 50 new mid-market DSP partners in 2025, reducing reliance on legacy DSPs. Mid-market DSP ad spend grew 30% YoY in Q4. 83% of revenue now from high-engagement environments (CTV, mobile, emerging products).
- **Agentic AI Growth**: Rajeev forecasts 25% of digital ads executed via AI by 2028, 50% by 2030. PubMatic's agent-to-agent transactions are 5x more cost-efficient than traditional campaigns, with 250+ live deals.
- **Google Litigation**: Potential $50-75M/year revenue upside if Google divests AdX. Ongoing damages lawsuit could add incremental revenue from Google's anticompetitive practices.

PubMatic, Inc. (PUBM) Q4 2025 Earnings Call Transcript

- **AI-Driven Growth**: 5x faster ad bidding with NVIDIA GPUs, AI agents boosting publisher revenue by 10%. 
- **CTV Dominance**: 90% top streamers use PubMatic, CTV revenue +50% YoY. Pause ads generate premium CTV engagement. 
- **Financial Strength**: $136M cash, no debt, 2026 guidance for double-digit revenue growth and margin expansion. 
- **Strategic Lead**: 100% owned infrastructure vs. 80%+ peers on public cloud. Mid-market DSPs (+25% YoY) offset legacy DSP decline.

**【CEO Summary Section】**
- **Revenue Growth**: Q3 revenue exceeded expectations, driven by 50%+ year-over-year growth in CTV (excluding political ads) and 80%+ growth in emerging revenue streams like commerce media and AI-driven yield optimization. 
- **AI Strategy**: PubMatic is building a 3-layer AI system (infrastructure, application, transaction) with NVIDIA GPUs, achieving 5x faster bid responses and 85% fewer auction timeouts. AI agents now handle 17 operational tasks for publishers, boosting revenue by 10%.
- **CTV Expansion**: 90% of top 30 global streamers use PubMatic, with live sports ad spend up 150% QoQ. New AI-powered pause ads for CTV generate premium engagement opportunities.
- **DSP Diversification**: 25+ new mid-market DSP partnerships (e.g., Mountain, Bliss) added in 2025, offsetting legacy DSP declines. Activate platform campaigns grew 4x YoY.

**【CFO Financial Commentary】**
- **Q3 Results**: Revenue $75M, adjusted EBITDA $11.2M (16% margin). Free cash flow $22.8M, ending Q3 with $136.5M cash.
- **Cost Efficiency**: Unit costs down 19% YoY, CapEx reduced 20% via AI optimization. Operating expenses flat at $51M despite 19% sales team expansion.
- **Q4 Guidance**: Revenue $73-77M, EBITDA $19-21M. Full year 2025: Revenue $276-280M, EBITDA $53-55M. 2026 outlook: Double-digit revenue growth, margin expansion.
- **Capital Allocation**: $180M repurchased since 2023, $94M remaining under 2026 buyback program. No debt, 60%+ revenue from high-margin CTV/app/emerging streams.

**【Q&A Highlights】**
- **AI Infrastructure Lead**: NVIDIA partnership enables 100% owned infrastructure, 87T impressions/month. Competitors rely on public cloud, limiting scale.
- **DSP Relationships**: Trade Desk Kokai platform adoption stabilized Q3, mid-market DSPs (+25% YoY) offset legacy DSP decline. 
- **CTV Growth**: 90% top streamers use PubMatic, 78% incremental ad revenue for partners. Pause ads and programmatic guaranteed deals drive CTV share shift.
- **Risk Mitigation**: <10% revenue exposure to AI search traffic, 60% impressions from CTV/app (unaffected by search).

PubMatic, Inc. (PUBM) Q3 2025 Earnings Call Transcript

- **Strong Q2 Growth**: 6% YoY revenue growth, 20% EBITDA margin, despite 6% drop in July from a top DSP partner.
- **CTV Dominance**: 50% YoY CTV growth, 20% of total revenue. 60% of impressions immune to AI search (CTV/mobile).
- **AI and Activate Acceleration**: Buying activity on Activate doubled QoQ; AI tools (PubMatic for Buyers, PubMatic Assistant) driving efficiency.
- **Risk Mitigation**: Diversifying DSP mix (mid-tier +30% YoY in July), $117M cash to fund growth. Q3 EBITDA guidance down 30-43% YoY.
- **Long-Term Opportunity**: $50-75M net revenue potential from Google antitrust shift. 26/30 top streamers as SSP partners.

**【CEO Summary Section】**
- Q2 revenue returned to year-over-year growth at 6%, driven by CTV (50% YoY growth) and emerging revenue streams (100% YoY growth in Connect). Underlying business (excluding affected DSP and political ads) grew 19% YoY.
- 20% adjusted EBITDA margin achieved, marking 37 consecutive quarters of profitability. CTV now represents 20% of total revenue.
- Key initiatives: diversifying DSP mix (mid-tier and performance marketers growing 20%+ YoY), accelerating Activate adoption (buying activity doubled QoQ), and AI integration across tech stack.
- Risk: recent DSP partner changes caused 6% revenue decline in July, but spend stabilized in August. Long-term opportunity from Google antitrust remedies (~$50-75M net revenue shift potential).

**【CFO Financial Commentary】**
- Q2 revenue: $64.2M (6% YoY growth), exceeding guidance. Adjusted EBITDA: $14.2M (20% margin), +15% YoY.
- Free cash flow: $9.3M. Cash balance: $117.6M. Share buybacks: $178.2M (12.2M shares repurchased).
- Q3 outlook: Revenue $61-66M (down 1-10% YoY due to DSP headwinds), adjusted EBITDA $7-10M (down 30-43% YoY). Full-year CapEx: $15M (down YoY).
- 60% of impressions unaffected by AI search (CTV/mobile app), 40% from web publishers with direct navigation traffic.

**【Q&A Highlights】**
- **DSP Changes**: Top DSP shifted clients to new platform, causing July spend drop. Mitigation efforts ongoing; mid-tier DSPs grew 30% YoY in July. SPO (55% of activity) remains resilient.
- **AI Impact**: 60% of impressions (CTV/mobile) immune to AI search. Offensive opportunity with AI search companies needing ad monetization.
- **Competitive Position**: 26/30 top global streamers as SSP partners. Activate adoption doubled QoQ, with PayPal and Omnicom Media Group as key clients.
- **Macro Trends**: CTV, health/fitness, tech/ computing ad spend up mid-20s YoY; automotive, business down single digits.
- **FX Risk**: $2M Q2 EBITDA impact from USD weakness; $1M+ Q3 guidance adjustment.

PubMatic, Inc. (PUBM) Q2 2025 Earnings Call Transcript

- **Q1 Standout Growth**: 21% YoY growth in core business, driven by CTV (+50%) and SPO (55% of activity). 
- **AI Platform Breakthrough**: Gen AI buying platform enables natural language deal creation, early wins with GroupM. 
- **Market Share Opportunity**: 1-2% Google spinout share gain could add $50-75M annually. 
- **Financial Strength**: 36th straight quarter of EBITDA profit; $144M cash, expanded buyback to $238M. 
- **2025 Outlook**: 15%+ growth target, lapping DSP headwinds midyear, political spend tailwind in H2. 


**【CEO Key Highlights】**
- **Q1 Revenue Growth**: Exceeded guidance with 21% YoY growth in underlying business (excluding DSP and political spend), driven by CTV (+50% YoY) and SPO (55% of total activity). 
- **AI Platform Launch**: Announced industry-first Gen AI-powered end-to-end buying platform, enabling natural language inventory discovery and deal creation. Early adopters like GroupM report improved campaign efficiency. 
- **Market Positioning**: 80% penetration of top 30 streamers in CTV; BBC partnership to monetize free ad-supported streaming channels. 
- **Strategic Focus**: 3 guiding principles - anticipate growth shifts, cost management, and resource allocation to high-growth areas. Anticipates 15%+ YoY growth in 2025. 

**【CFO Financial Breakdown】**
- **Revenue**: Q1 total revenue $66M (flat YoY due to DSP headwinds), with 70% of revenue from secular growth drivers (CTV, SPO, commerce media). Emerging revenue streams doubled YoY. 
- **Profitability**: Adjusted EBITDA $8.5M (13% margin), 36th consecutive quarter of profitability. GAAP net loss $9.5M due to FX impacts. 
- **Cash Flow**: Generated $15.6M in operating cash flow; $144M cash on hand. Expanded share buyback program by $100M to $238M total authorization. 
- **Q2 Outlook**: Revenue $66-70M (15%+ growth in underlying business), adjusted EBITDA $9-12M. 

**【Q&A Key Takeaways】**
- **Google Antitrust Impact**: Potential 1-2% market share gain from Google spinout, equating to $50-75M annual revenue. 
- **SPO Growth Ceiling**: Long-term target of 75% SPO share; recent Q1 activity tripled among mid-market DSPs. 
- **DSP Partner Stability**: Large DSP buyer's CTV spend grew YoY, offsetting display decline. 2025 lapping of technical auction shift removes headwinds. 
- **Macro Resilience**: Diversified customer base (50,000+ advertisers), 20+ ad verticals, and 15%+ secular growth drivers mitigate macro risk. 
- **AI Investment Payoff**: Gen AI reduces engineering headcount needs, enabling 60% impression growth vs. 16% cost of revenue increase. 


PubMatic (PUBM)-8 May 25-2025 Q1 Earnings call transcript

- **2024 Growth Milestones**: 9% revenue growth, 20% CTV contribution in Q4, and 15%+ targeted growth in 2025 underlying business.
- **CTV Leadership**: 80% of top 30 streamers integrated, CTV Marketplace driving incremental demand, and live sports partnerships (e.g., TCL) accelerating adoption.
- **AI-Driven Efficiency**: 15% engineering productivity gain in 2024, PubMatic Assistant reducing publisher reporting friction.
- **Financial Resilience**: $73M operating cash flow, 32% adjusted EBITDA margin, and $141M cash balance as of Q4.

**【CEO Summary Section】**
- PubMatic achieved 9% revenue growth in 2024, driven by CTV (more than doubling), mobile app (+16%), and emerging revenue streams (+100%).
- CTV represented 20% of Q4 revenue, up from 10% in 2023, with 80% of top 30 global streamers now integrated.
- Generative AI (Gen AI) increased engineering productivity by 15% in 2024 and launched customer-facing tools like PubMatic Assistant for publishers.
- Targeting 15%+ growth in underlying business (excluding DSP impact) for 2025, with focus on CTV, mobile app, and commerce media.

**【CFO Financial Commentary】**
- Q4 revenue: $61-63M (FY25 guidance), with adjusted EBITDA margin expected to return to historical levels post-DSP impact.
- 2024 financial highlights: +9% revenue growth, +23% adjusted EBITDA, $73M operating cash flow, and $35M free cash flow.
- Cost of revenue per million impressions decreased 18% YoY, driven by infrastructure optimization and Gen AI.
- Share buyback program reduced diluted shares by 8% in 2024, with $40.4M remaining in the program.

**【Q&A Key Highlights】**
- **DSP Impact**: Single DSP buyer reduced display spend by 8% YoY, but underlying business (excluding DSP and political) grew 16% Q4.
- **CTV Growth Drivers**: Live sports partnerships (e.g., TCL), CTV Marketplace aggregating premium inventory, and Gen AI-driven political ad spend.
- **AI Efficiency**: Engineering productivity up 15% in 2024; Gen AI tools like PubMatic Assistant streamline workflows and drive platform adoption.
- **Competitive Position**: 1,900+ publisher integrations, 190+ data partners, and 53% of platform activity via Supply Path Optimization (SPO).

Actual	0.66	0.09	0.18	0.24	0.5	0.08	0.14	0.06	0.22	-0.11	-0.11	0.03	0.34	-0.05	0.04	-0.02	0.26	-0.2	-0.11	-0.14	0.14
Forecast	0.3225	0.036	0.1	0.1035	0.2727	0.0393	0.103	0.1194	0.2793	-0.1826	-0.0607	-0.0751	0.2	-0.1115	-0.0174	-0.0633	0.2341	-0.2117	-0.1581	-0.2108	-0.0133
Surprise	+104.65%	+150.00%	+80.00%	+131.88%	+83.35%	+103.56%	+35.92%	-49.75%	-21.23%	+39.76%	-81.22%	+139.95%	+70.00%	+55.16%	+329.89%	+68.40%	+11.06%	+5.53%	+30.42%	+33.59%	+1152.63%

PUBM

PUBM fundamentals

PUBM Q4 2025 Earnings

Earnings Call

You can ask Aime

PUBM

PUBM fundamentals

PUBM Q4 2025 Earnings

Earnings Call

PUBM Earnings Call Summary for Q4/20254:30 PM on Feb 26, 2026

PUBM Earnings Call Summary for Q3/20254:30 PM on Nov 10, 2025

PUBM Earnings Call Summary for Q2/20254:30 PM on Aug 11, 2025

PUBM Earnings Call Summary for Q1/20254:30 PM on May 8, 2025

PUBM Earnings Call Summary for Q4/20244:30 PM on Feb 27, 2025

You can ask Aime