PubMatic (PUBM) Financial Statements & Analysis

PubMatic (PUBM) Income Statement

PubMatic reported revenue of $282.93M in fiscal 2025 (fiscal year ended Dec 31, 2025), down 2.9% from $291.26M a year earlier. PubMatic posted a net loss of $14.46M, compared with net income of $12.50M a year earlier. Gross margin was 63.6% and operating margin -6.1%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $78.59M, up 10.5% from the same quarter a year earlier.

PubMatic Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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PubMatic, Inc. income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018
Revenue & Gross Profit
Revenue	282.93	291.26	267.01	256.38	226.91	148.75	113.87	99.26
Cost of Revenue	103.09	101.03	99.23	81.51	58.31	41.19	36.10	31.24
Gross Profit	179.84	190.23	167.79	174.87	168.60	107.56	77.77	68.03
Operating Expenses
Research & Development	33.82	33.26	26.73	20.85	15.89	12.25	12.45	12.62
Selling, General & Administrative	163.28	153.04	139.02	113.50	93.92	63.56	56.81	50.44
Operating Expenses	197.10	186.30	165.75	134.35	109.81	75.81	69.26	63.06
Operating Income	-17.26	3.93	2.04	40.52	58.79	31.76	8.51	4.97
Other Income/Expense
Interest Income	5.46	8.48	8.83	2.21	0.30	0.54	1.29	0.88
Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Income/Expense	-4.15	13.85	-0.36	-3.05	6.01	-1.31	0.71	0.66
Income
Income Before Tax	-15.95	17.77	10.51	37.47	64.80	31.58	9.22	5.63
Income Tax Expense	-1.49	5.27	1.62	8.76	8.20	4.97	2.58	1.21
Net Income	-14.46	12.50	8.88	28.71	56.60	26.61	6.64	4.43
Net Income - Continuous Operations	-14.46	12.50	8.88	28.71	56.60	26.61	6.64	4.43
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-
EBITDA	26.51	30.38	46.81	77.55	80.48	41.60	21.82	12.25
EBIT	-17.26	3.93	2.04	41.44	58.79	31.76	-	-
Depreciation & Amortization	43.77	26.45	44.77	40.08	15.67	9.84	12.60	12.30
Earnings Per Share
Basic EPS	-	-	-	1.00	1.00	1.00	-	-
Diluted EPS	-	-	-	1.00	1.00	-	-	-
Basic Shares Outstanding	47.01	49.21	51.76	52.28	50.18	12.64	47.83	47.52
Diluted Shares Outstanding	47.01	54.29	56.03	56.91	56.63	17.13	47.83	47.52

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About PubMatic Financial Statements

What was PubMatic's revenue in fiscal 2025?

PubMatic reported revenue of $282.93M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was down 2.9% from $291.26M a year earlier.

Is PubMatic profitable?

No. PubMatic reported a net loss of $14.46M in fiscal 2025. In fiscal 2024 it earned $12.50M.

What is PubMatic's operating margin?

PubMatic's operating income was −$17.26M on revenue of $282.93M in fiscal 2025, an operating margin of -6.1%, compared with 1.3% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition