PubMatic Announces Second Quarter 2026 Financial Results
Delivered revenue and adjusted EBITDA well ahead of guidance;
AI customer adoption more than doubled sequentially, delivering 80+ agentic campaigns and 4,000+ AI-powered deals;
Total Revenues Grew
CTV, Mobile App and Emerging Revenues represented ~
Repurchased 2.1 million shares in Q2 2026, representing
NO-HEADQUARTERS/
"The second quarter marked an important inflection point for PubMatic. We delivered double-digit revenue growth earlier than anticipated, expanded profitability and strengthened our competitive position across AgenticOS, CTV, and mobile app," said Rajeev Goel, co-founder and CEO at PubMatic. "AI is transforming how digital advertising is planned, activated and optimized, increasing the emphasis on performance advertising. Our AI-native infrastructure and proprietary intelligence consistently deliver better performance, faster execution and greater efficiency for customers. Every interaction strengthens that intelligence, creating a compounding advantage that is difficult to replicate. Further, we’re bringing new forms of advertising, new sources of demand and new intelligence onto our platform that will significantly expand our long-term market opportunities.”
Second Quarter 2026 Financial Highlights
-
Revenue in the second quarter of 2026 was
$78.6 million 11% compared to the same period of 2025; -
GAAP net loss was
$(1.2) million $(0.03) $(5.2) million $(0.11) -
Adjusted EBITDA was
$19.6 million 25% margin, an increase over$14.2 million 20% margin in the same period of 2025; -
Non-GAAP net income was
$5.9 million $0.12 $2.5 million $0.05 -
Net cash provided by operating activities was
$20.2 million 36% increase over$14.9 million -
Free cash flow was
$13.7 million 47% increase over$9.3 million -
Ended the quarter with total cash, cash equivalents, and marketable securities of
$137.5 million -
Through June 30, 2026, used
$211.4 million $63.6 million
1 Fully diluted shares include common shares outstanding as of June 30, 2026 plus dilutive securities related to employee stock awards under the treasury stock method, calculated as if the Company were in a net income position. |
The section titled “Non-GAAP Financial Measures” below describes our usage of non-GAAP financial measures. Reconciliations between historical GAAP and non-GAAP information are contained at the end of this press release following the accompanying financial data.
"We delivered a remarkable quarter, exceeding our guidance on revenue and adjusted EBITDA. We returned to double-digit year-over-year revenue growth ahead of schedule: revenue grew
Business Highlights
AgenticOS Drives Superior Open Internet Performance and Customer Adoption
- Since launching in January 2026, PubMatic has delivered measurable performance gains for customers across more than 80 fully autonomous, end-to-end campaigns globally. This is up from over 30 campaigns a quarter ago, and now includes all five global agency holding companies.
- Over 4,000 AI-powered deals transacted to date, up from just over 1,000 deals a quarter ago.
- Level Agency increased ad spend with PubMatic after AgenticOS delivered more than 2x reach per dollar versus its incumbent DSP, while significantly accelerating campaign setup and activation time. Additionally, AgenticOS delivered retargeting at scale within days compared to the 1-2 months ramp typically required by DSP-led campaigns.
-
Havas Media and Telefónica launched
Spain's first fully agentic CTV campaign, achieving18% lower CPM than target while exceeding impression goals by23% using AgenticOS. - Launched advanced guardrail architecture for AgenticOS, giving enterprise buyers configurable control over autonomous campaign execution with human approval workflows, presence-based controls, and full audit trails built directly into the execution layer, reducing barriers to scaling agentic advertising budgets across the platform.
New Partnerships Fuel Our Intelligence Advantage
- Recently partnered with Gracenote to bring real-time content intelligence, including contextual signals and live sports schedules, directly into the PubMatic platform. By embedding this data at the point of auction, coupled with our rich signal data and proprietary bidstream data, our AI-native infrastructure can make increasingly sophisticated decisions within the milliseconds available before every impression is served.
-
Added premium inventory from marquee broadcaster Channel 4 in the
UK to expand its access to advertising buyers.
New AI-Powered Solutions Launched
- Launched Decision Fabric, a containerization solution bringing buyer intelligence directly into the auction to improve advertising performance.
- Launch partners include MiQ, Chalice AI, SWYM.ai and InPowered, who can now run proprietary decision models natively within PubMatic's infrastructure.
Expanded Into New Markets, Creating Incremental Growth Opportunities
- Launched Creator Marketplace, enabling advertisers on PubMatic to connect to premium inventory and reach highly engaged audiences while giving creators new ways to monetize across the open internet.
- Programmatic trading desk Klever used AgenticOS to help a well-known direct-to-consumer brand expand beyond social channels into premium CTV, and delivered a 5x return on ad spend, which was double the client’s original objective.
Diversified Revenue Mix and Expanded Reach On The Buy Side
-
Revenues in Q2 2026 from CTV, mobile app and emerging revenues represented approximately
60% of total revenue, roughly double the share of three years ago. -
Strength in CTV was led by the
Americas , where revenue grew25% year over year. Global CTV revenue grew13% year-over-year and represented approximately20% of total revenue. -
Q2 2026 revenue from mobile app grew over
40% year-over-year and accounted for approximately25% of total revenue. -
Emerging revenues2 in Q2 2026 grew approximately
100% year over year and represented approximately15% of total revenues in the quarter, which includes revenue from newly launched AI solutions. - Ad spend from Activate grew more than 2X over Q2 2025, as buyers and publishers prioritized performance, control and transparency.
-
Ad spend from mid-market focused DSPs grew over
25% year-over-year in Q2 2026. -
Supply Path Optimization represented over
55% of total activity on our platform in Q2 2026.
Operating Priorities Drove Profitable Growth
-
Infrastructure optimization initiatives and investments drove nearly 92 trillion impressions processed in Q2 2026, an increase of
18% over Q2 2025. -
Cost of revenue per million impressions processed decreased
20% on a trailing twelve month period, as compared to the prior period.
Financial Outlook
Our outlook assumes that general market conditions do not significantly deteriorate as it relates to current macroeconomic and geopolitical conditions.
For the third quarter of 2026, we expect the following:
-
Revenue to be in the range of
$75 million $77 million -
Adjusted EBITDA to be in the range of
$17.0 million $19.0 million
Although we provide guidance for adjusted EBITDA, we are not able to provide guidance for net income (loss), the most directly comparable GAAP measure. Certain elements of the composition of GAAP net income (loss), including stock-based compensation expenses, are not predictable, making it impractical for us to provide guidance on net income or to reconcile our adjusted EBITDA guidance to net income without unreasonable efforts. For the same reason, we are unable to address the probable significance of the unavailable information.
2 Emerging revenue includes Activate, Commerce Media, Connect and AI solutions. |
Chief Financial Officer Planned Retirement Announced
In a separate release issued today, the Company announced that Steve Pantelick, Chief Financial Officer, plans to retire after fifteen years in the role. He will continue to serve as CFO into the first quarter of 2027, and then as a senior adviser through July 1, 2027, to support continuity and a smooth transition. The Company has initiated a search for his successor.
Conference Call and Webcast details
PubMatic will host a conference call to discuss its financial results on Thursday, August 6, 2026 at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time). A live webcast of the call can be accessed from PubMatic’s Investor Relations website at https://investors.pubmatic.com. An archived version of the webcast will be available from the same website after the call.
Non-GAAP Financial Measures
In addition to our results determined in accordance with
In addition to operating income (loss) and net loss, we use adjusted EBITDA and non-GAAP net income as measures of operational efficiency. We believe that these non-GAAP financial measures are useful to investors for period to period comparisons of our business and in understanding and evaluating our operating results for the following reasons:
- Adjusted EBITDA and non-GAAP net income are widely used by investors and securities analysts to measure a company’s operating performance without regard to items such as stock-based compensation expense, depreciation and amortization, litigation related expenses, interest expense, and provision for (benefit from) income taxes that can vary substantially from company to company depending upon their financing, capital structures and the method by which assets were acquired; and,
- Our management uses adjusted EBITDA and non-GAAP net income in conjunction with GAAP financial measures for planning purposes, including the preparation of our annual operating budget, as a measure of operating performance and the effectiveness of our business strategies and in communications with our board of directors concerning our financial performance; and adjusted EBITDA provides consistency and comparability with our past financial performance, facilitates period-to-period comparisons of operations, and also facilitates comparisons with other peer companies, many of which use similar non-GAAP financial measures to supplement their GAAP results.
Our use of non-GAAP financial measures has limitations as an analytical tool, and you should not consider them in isolation or as a substitute for analysis of our financial results as reported under GAAP. Some of these limitations are as follows:
- Adjusted EBITDA does not reflect: (a) changes in, or cash requirements for, our working capital needs; (b) the potentially dilutive impact of stock-based compensation; or (c) tax payments that may represent a reduction in cash available to us;
- Although depreciation and amortization expense are non-cash charges, the assets being depreciated and amortized may have to be replaced in the future, and adjusted EBITDA does not reflect cash capital expenditure requirements for such replacements or for new capital expenditure requirements; and
- Non-GAAP net income does not include: (a) the potentially dilutive impact of stock-based compensation; (b) non-ordinary course litigation related expenses; or (c) income tax effects for stock-based compensation
Because of these and other limitations, you should consider adjusted EBITDA and non-GAAP net income along with other GAAP-based financial performance measures, including net income and our GAAP financial results.
Forward Looking Statements
This press release contains “forward-looking statements” regarding our future business expectations, including our guidance relating to our revenue and adjusted EBITDA for the third quarter of 2026, our expectations regarding our adjusted EBITDA, free cash flow, free cash flow margin, capital expenditures, future adoption and deployment of our AI-enabled products, future market growth, and our long-term revenue growth. These forward-looking statements are based on our current expectations and assumptions regarding our business, the economy and other future conditions and may differ materially from actual results due to a variety of factors including: our dependency on the overall demand for advertising and the channels we rely on; our existing customers not expanding their usage of our platform, or our failure to attract new publishers and buyers; our ability to maintain and expand access to spend from buyers and valuable ad impressions from publishers; the rejection of the use of digital advertising by consumers through opt-in, opt-out or ad-blocking technologies or other means; our failure to innovate and develop new solutions that are adopted by publishers; geopolitical tensions and uncertainty, including the conflicts in
About PubMatic
PubMatic is the leading AI-powered ad tech company delivering digital advertising performance. Through an intelligent, unified platform that connects buyers, publishers, data partners, and commerce media networks, PubMatic delivers superior performance with greater transparency, control, and efficiency. Since 2006, PubMatic has pioneered major advances in programmatic advertising, from enabling the first OpenRTB transactions to embedding AI-driven optimization and privacy-focused innovation across its platform. With omnichannel scale, proven reliability, and a track record of continuous innovation, PubMatic is building a more intelligent, profitable, and sustainable open internet. Built to Connect. Powered to Perform.
CONDENSED CONSOLIDATED BALANCE SHEETS |
|||||||
(In thousands) |
|||||||
(unaudited) |
|||||||
|
June 30,
|
|
December 31,
|
||||
ASSETS |
|
|
|
||||
Current assets |
|
|
|
||||
Cash and cash equivalents |
$ |
119,971 |
|
|
$ |
145,518 |
|
Marketable securities |
|
17,536 |
|
|
|
— |
|
Accounts receivable, net |
|
383,197 |
|
|
|
358,240 |
|
Prepaid expenses and other current assets |
|
17,162 |
|
|
|
18,889 |
|
Total current assets |
|
537,866 |
|
|
|
522,647 |
|
Property, equipment and software, net |
|
58,528 |
|
|
|
52,657 |
|
Operating lease right-of-use assets |
|
34,518 |
|
|
|
38,149 |
|
Acquisition-related intangible assets, net |
|
1,914 |
|
|
|
2,704 |
|
Goodwill |
|
29,577 |
|
|
|
29,577 |
|
Deferred tax assets |
|
32,128 |
|
|
|
30,986 |
|
Other assets, non-current |
|
5,511 |
|
|
|
3,475 |
|
TOTAL ASSETS |
$ |
700,042 |
|
|
$ |
680,195 |
|
LIABILITIES AND STOCKHOLDERS' EQUITY |
|
|
|
||||
Current liabilities |
|
|
|
||||
Accounts payable |
$ |
390,046 |
|
|
$ |
343,619 |
|
Accrued liabilities |
|
24,230 |
|
|
|
25,278 |
|
Operating lease liabilities, current |
|
7,842 |
|
|
|
6,953 |
|
Total current liabilities |
|
422,118 |
|
|
|
375,850 |
|
Operating lease liabilities, non-current |
|
32,795 |
|
|
|
36,910 |
|
Other liabilities, non-current |
|
6,401 |
|
|
|
4,846 |
|
TOTAL LIABILITIES |
|
461,314 |
|
|
|
417,606 |
|
Stockholders' Equity |
|
|
|
||||
Common stock |
|
7 |
|
|
|
7 |
|
Treasury stock |
|
(223,977 |
) |
|
|
(193,471 |
) |
Additional paid-in capital |
|
341,643 |
|
|
|
321,062 |
|
Accumulated other comprehensive income (loss) |
|
(156 |
) |
|
|
68 |
|
Retained earnings |
|
121,211 |
|
|
|
134,923 |
|
TOTAL STOCKHOLDERS’ EQUITY |
|
238,728 |
|
|
|
262,589 |
|
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY |
$ |
700,042 |
|
|
$ |
680,195 |
|
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS |
|||||||||||||||
(In thousands, except per share data) |
|||||||||||||||
(unaudited) |
|||||||||||||||
|
Three Months Ended June 30, |
|
Six Months Ended June 30, |
||||||||||||
|
2026 |
|
2025 |
|
2026 |
|
2025 |
||||||||
Revenue |
$ |
78,593 |
|
|
$ |
71,095 |
|
|
$ |
141,160 |
|
|
$ |
134,920 |
|
Cost of revenue(1) |
|
25,877 |
|
|
|
26,612 |
|
|
|
51,971 |
|
|
|
52,200 |
|
Gross profit |
|
52,716 |
|
|
|
44,483 |
|
|
|
89,189 |
|
|
|
82,720 |
|
Operating expenses:(1) |
|
|
|
|
|
|
|
||||||||
Technology and development |
|
9,148 |
|
|
|
9,116 |
|
|
|
17,134 |
|
|
|
17,888 |
|
Sales and marketing |
|
26,130 |
|
|
|
25,200 |
|
|
|
55,095 |
|
|
|
51,999 |
|
General and administrative |
|
16,859 |
|
|
|
15,628 |
|
|
|
31,654 |
|
|
|
30,197 |
|
Total operating expenses |
|
52,137 |
|
|
|
49,944 |
|
|
|
103,883 |
|
|
|
100,084 |
|
Operating income (loss) |
|
579 |
|
|
|
(5,461 |
) |
|
|
(14,694 |
) |
|
|
(17,364 |
) |
Total other income (expense), net |
|
1,302 |
|
|
|
(609 |
) |
|
|
1,464 |
|
|
|
(30 |
) |
Income (loss) before income taxes |
|
1,881 |
|
|
|
(6,070 |
) |
|
|
(13,230 |
) |
|
|
(17,394 |
) |
Provision for (benefit from) income taxes |
|
3,083 |
|
|
|
(862 |
) |
|
|
482 |
|
|
|
(2,700 |
) |
Net loss |
$ |
(1,202 |
) |
|
$ |
(5,208 |
) |
|
$ |
(13,712 |
) |
|
$ |
(14,694 |
) |
Net income (loss) per share attributable to common stockholders: |
|
|
|
|
|
|
|
||||||||
Basic |
$ |
(0.03 |
) |
|
$ |
(0.11 |
) |
|
$ |
(0.29 |
) |
|
$ |
(0.31 |
) |
Diluted |
$ |
(0.03 |
) |
|
$ |
(0.11 |
) |
|
$ |
(0.29 |
) |
|
$ |
(0.31 |
) |
Weighted-average shares used to compute net loss per share attributable to common stockholders: |
|
|
|
|
|
|
|
||||||||
Basic |
|
46,106 |
|
|
|
47,185 |
|
|
|
46,611 |
|
|
|
47,763 |
|
Diluted |
|
46,106 |
|
|
|
47,185 |
|
|
|
46,611 |
|
|
|
47,763 |
|
(1) Stock-based compensation expense includes the following: |
STOCK BASED COMPENSATION EXPENSE |
|||||||||||
(In thousands) |
|||||||||||
(unaudited) |
|||||||||||
|
Three Months Ended June 30, |
|
Six Months Ended June 30, |
||||||||
|
2026 |
|
2025 |
|
2026 |
|
2025 |
||||
Cost of revenue |
$ |
357 |
|
$ |
474 |
|
$ |
741 |
|
$ |
948 |
Technology and development |
|
1,055 |
|
|
1,628 |
|
|
2,084 |
|
|
3,213 |
Sales and marketing |
|
2,605 |
|
|
3,465 |
|
|
5,662 |
|
|
6,928 |
General and administrative |
|
4,330 |
|
|
4,234 |
|
|
8,348 |
|
|
8,410 |
Total stock-based compensation |
$ |
8,347 |
|
$ |
9,801 |
|
$ |
16,835 |
|
$ |
19,499 |
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS |
|||||||
(In thousands) |
|||||||
(unaudited) |
|||||||
|
Six Months Ended June 30, |
||||||
|
2026 |
|
2025 |
||||
OPERATING ACTIVITIES: |
|
|
|
||||
Net loss |
$ |
(13,712 |
) |
|
$ |
(14,694 |
) |
Adjustments to reconcile net loss to net cash provided by operating activities: |
|
|
|
||||
Depreciation and amortization |
|
19,995 |
|
|
|
23,537 |
|
Stock-based compensation |
|
16,835 |
|
|
|
19,499 |
|
Deferred income taxes |
|
(1,143 |
) |
|
|
(9,024 |
) |
Accretion of discount on marketable securities |
|
(110 |
) |
|
|
(819 |
) |
Non-cash lease expense |
|
3,591 |
|
|
|
3,710 |
|
Other |
|
(305 |
) |
|
|
(278 |
) |
Changes in operating assets and liabilities: |
|
|
|
||||
Accounts receivable |
|
(24,957 |
) |
|
|
41,412 |
|
Prepaid expenses and other current assets |
|
4,046 |
|
|
|
(340 |
) |
Accounts payable |
|
36,558 |
|
|
|
(25,865 |
) |
Accrued liabilities |
|
(1,738 |
) |
|
|
(5,559 |
) |
Operating lease liabilities |
|
(3,188 |
) |
|
|
(1,328 |
) |
Other liabilities, non-current |
|
1,633 |
|
|
|
275 |
|
Net cash provided by operating activities |
|
37,505 |
|
|
|
30,526 |
|
INVESTING ACTIVITIES: |
|
|
|
||||
Purchases of and deposits on property and equipment |
|
(2,966 |
) |
|
|
(2,781 |
) |
Capitalized software development costs |
|
(10,171 |
) |
|
|
(11,180 |
) |
Purchases of marketable securities |
|
(17,429 |
) |
|
|
(26,026 |
) |
Proceeds from maturities of marketable securities |
|
— |
|
|
|
39,859 |
|
Purchase of equity investment |
|
(3,500 |
) |
|
|
— |
|
Net cash used in investing activities |
|
(34,066 |
) |
|
|
(128 |
) |
FINANCING ACTIVITIES: |
|
|
|
||||
Proceeds from issuance of common stock for employee stock purchase plan |
|
1,054 |
|
|
|
1,357 |
|
Proceeds from exercise of stock options |
|
884 |
|
|
|
1,174 |
|
Principal payments on finance lease obligations |
|
(75 |
) |
|
|
(70 |
) |
Payments to acquire treasury stock |
|
(30,500 |
) |
|
|
(43,649 |
) |
Net cash used in financing activities |
|
(28,637 |
) |
|
|
(41,188 |
) |
NET DECREASE IN CASH AND CASH EQUIVALENTS |
|
(25,198 |
) |
|
|
(10,790 |
) |
Effect of foreign currency on cash |
|
(349 |
) |
|
|
814 |
|
CASH AND CASH EQUIVALENTS - Beginning of year |
|
145,518 |
|
|
|
100,452 |
|
CASH AND CASH EQUIVALENTS - End of year |
$ |
119,971 |
|
|
$ |
90,476 |
|
RECONCILIATION OF GAAP NET LOSS TO NON-GAAP ADJUSTED EBITDA AND NON-GAAP NET INCOME |
|||||||||||||||
(In thousands, except per share amounts) |
|||||||||||||||
(unaudited) |
|||||||||||||||
|
Three Months Ended June 30, |
|
Six Months Ended June 30, |
||||||||||||
|
2026 |
|
2025 |
|
2026 |
|
2025 |
||||||||
Reconciliation of net loss: |
|
|
|
|
|
|
|
||||||||
Net loss |
$ |
(1,202 |
) |
|
$ |
(5,208 |
) |
|
$ |
(13,712 |
) |
|
$ |
(14,694 |
) |
Add back (deduct): |
|
|
|
|
|
|
|
||||||||
Stock-based compensation |
|
8,347 |
|
|
|
9,801 |
|
|
|
16,835 |
|
|
|
19,499 |
|
Depreciation and amortization |
|
10,007 |
|
|
|
11,861 |
|
|
|
19,995 |
|
|
|
23,537 |
|
Litigation related expenses(2) |
|
594 |
|
|
|
— |
|
|
|
1,032 |
|
|
|
— |
|
Interest income |
|
(1,213 |
) |
|
|
(1,379 |
) |
|
|
(2,428 |
) |
|
|
(2,972 |
) |
Provision for (benefit from) income taxes |
|
3,083 |
|
|
|
(862 |
) |
|
|
482 |
|
|
|
(2,700 |
) |
Adjusted EBITDA |
$ |
19,616 |
|
|
$ |
14,213 |
|
|
$ |
22,204 |
|
|
$ |
22,670 |
|
|
|
|
|
|
|
|
|
||||||||
Revenue |
$ |
78,593 |
|
|
$ |
71,095 |
|
|
$ |
141,160 |
|
|
$ |
134,920 |
|
Adjusted EBITDA margin |
|
25 |
% |
|
|
20 |
% |
|
|
16 |
% |
|
|
17 |
% |
|
Three Months Ended June 30, |
|
Six Months Ended June 30, |
||||||||||||
|
2026 |
|
2025 |
|
2026 |
|
2025 |
||||||||
Reconciliation of net loss per share: |
|
|
|
|
|
|
|
||||||||
Net loss |
$ |
(1,202 |
) |
|
$ |
(5,208 |
) |
|
$ |
(13,712 |
) |
|
$ |
(14,694 |
) |
Add back (deduct): |
|
|
|
|
|
|
|
||||||||
Stock-based compensation |
|
8,347 |
|
|
|
9,801 |
|
|
|
16,835 |
|
|
|
19,499 |
|
Litigation related expenses(2) |
|
594 |
|
|
|
— |
|
|
|
1,032 |
|
|
|
— |
|
Adjustment for income taxes |
|
(1,883 |
) |
|
|
(2,068 |
) |
|
|
(3,714 |
) |
|
|
(4,123 |
) |
Non-GAAP net income |
$ |
5,856 |
|
|
$ |
2,525 |
|
|
$ |
441 |
|
|
$ |
682 |
|
GAAP diluted EPS |
$ |
(0.03 |
) |
|
$ |
(0.11 |
) |
|
$ |
(0.29 |
) |
|
$ |
(0.31 |
) |
Non-GAAP diluted EPS |
$ |
0.12 |
|
|
$ |
0.05 |
|
|
$ |
0.01 |
|
|
$ |
0.01 |
|
GAAP weighted average shares outstanding—diluted |
|
46,106 |
|
|
|
47,185 |
|
|
|
46,611 |
|
|
|
47,763 |
|
Non-GAAP weighted average shares outstanding—diluted |
|
49,936 |
|
|
|
50,539 |
|
|
|
49,809 |
|
|
|
51,498 |
|
(2)Litigation related expenses represents external legal fees and other expenses, net of insurance recoveries, associated with pending litigation that arose outside of the ordinary course of business. These costs related to a discrete matter, and are not representative of our underlying operating performance. We do not adjust for legal expenses incurred in our ordinary course of business. |
Reported GAAP diluted loss per share for the three and six months ended June 30, 2026 and 2025 were calculated using basic share count. Non-GAAP diluted earnings per share for the three and six months ended June 30, 2026 and three and six months ended June 30, 2025 were calculated using diluted share count which includes approximately 4 million, 3 million, 3 million, and 4 million, respectively, of dilutive securities related to employee stock awards.
SUPPLEMENTAL CASH FLOW INFORMATION |
|||||||||||||||
COMPUTATION OF FREE CASH FLOW, A NON-GAAP MEASURE |
|||||||||||||||
(In thousands) |
|||||||||||||||
(unaudited) |
|||||||||||||||
|
Three Months Ended June 30, |
|
Six Months Ended June 30, |
||||||||||||
|
2026 |
|
2025 |
|
2026 |
|
2025 |
||||||||
Reconciliation of cash provided by operating activities: |
|
|
|
|
|
|
|
||||||||
Net cash provided by operating activities |
$ |
20,210 |
|
|
$ |
14,905 |
|
|
$ |
37,505 |
|
|
$ |
30,526 |
|
Less: Purchases of property and equipment |
|
(2,955 |
) |
|
|
(1,340 |
) |
|
|
(2,966 |
) |
|
|
(2,781 |
) |
Less: Capitalized software development costs |
|
(3,592 |
) |
|
|
(4,300 |
) |
|
|
(10,171 |
) |
|
|
(11,180 |
) |
Free cash flow |
$ |
13,663 |
|
|
$ |
9,265 |
|
|
$ |
24,368 |
|
|
$ |
16,565 |
|
View source version on businesswire.com: https://www.businesswire.com/news/home/20260805668883/en/
Investors:
investors@pubmatic.com
Press Contact:
Purpose Worldwide
PubMatic@purposenorthamerica.com
Source: PubMatic, Inc.