PubMatic (NASDAQ:PUBM) Releases Earnings Results, Beats Expectations By $0.13 EPS

27 Feb 2026, 01:16 by Danessa Lincoln · The Markets Daily

PubMatic (NASDAQ:PUBM – Get Free Report) posted its quarterly earnings data on Thursday. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.13, FiscalAI reports. The company had revenue of $80.05 million during the quarter, compared to analysts’ expectations of $76.12 million. PubMatic had a negative net margin of 2.51% and a negative return on equity of 2.78%.

Here are the key takeaways from PubMatic’s conference call:

PubMatic beat Q4 guidance with $27.8M adjusted EBITDA (a 35% margin), GAAP net income of $6.7M, free cash flow up 32% to $46M, and a strong balance sheet with $145.5M cash and zero debt.
Management positions PubMatic as an early leader in agentic AI — launching AgenticOS, co-founding the Ad Context Protocol, running 250+ agentic deals, and rolling out AI publisher solutions that already monetize ~10% of publishers.
Secular growth engines powered results — CTV grew over 50% year-over-year (ex-political), mobile app revenue accelerated (~25% in Q4), and emerging revenues (Activate/Commerce/AI) nearly doubled and now represent roughly 10–12% of total revenue.
Near-term guidance is muted — Q1 revenue of $58–60M and adjusted EBITDA around break-even reflect lingering headwinds from a legacy DSP and seasonality, while potential upside from Google remedies or litigation remains uncertain and is excluded from the outlook.

PubMatic Stock Performance

Shares of PubMatic stock traded up $0.49 on Thursday, hitting $7.07. The company had a trading volume of 2,042,369 shares, compared to its average volume of 652,149. PubMatic has a 1 year low of $6.15 and a 1 year high of $14.80. The stock has a 50 day moving average of $7.68 and a 200-day moving average of $8.28. The stock has a market capitalization of $328.19 million, a price-to-earnings ratio of -37.21 and a beta of 1.58.

Insider Buying and Selling

In other news, CEO Rajeev K. Goel sold 44,000 shares of the company’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $6.28, for a total value of $276,320.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Steven Pantelick sold 18,398 shares of the firm’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $8.81, for a total transaction of $162,086.38. Following the transaction, the chief financial officer directly owned 28,685 shares in the company, valued at $252,714.85. The trade was a 39.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 431,650 shares of company stock worth $3,434,455. 26.42% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PubMatic

Several institutional investors and hedge funds have recently added to or reduced their stakes in PUBM. Quarry LP bought a new position in shares of PubMatic in the fourth quarter valued at approximately $30,000. Caitong International Asset Management Co. Ltd boosted its position in PubMatic by 75.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,449 shares of the company’s stock worth $39,000 after purchasing an additional 1,915 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in PubMatic by 264.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,878 shares of the company’s stock valued at $61,000 after purchasing an additional 3,541 shares during the period. BNP Paribas Financial Markets increased its position in shares of PubMatic by 120.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 8,875 shares of the company’s stock valued at $73,000 after purchasing an additional 4,856 shares during the last quarter. Finally, Headlands Technologies LLC raised its stake in shares of PubMatic by 59.2% during the 2nd quarter. Headlands Technologies LLC now owns 12,043 shares of the company’s stock worth $150,000 after purchasing an additional 4,478 shares during the period. Hedge funds and other institutional investors own 64.26% of the company’s stock.

Analyst Ratings Changes

PUBM has been the topic of several research analyst reports. B. Riley Financial upped their target price on PubMatic from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Tuesday, November 11th. Weiss Ratings restated a “sell (d)” rating on shares of PubMatic in a report on Thursday, January 22nd. Evercore raised their price objective on shares of PubMatic from $12.00 to $13.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 11th. Rosenblatt Securities boosted their target price on shares of PubMatic from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, November 11th. Finally, Wolfe Research reissued an “outperform” rating and set a $14.00 target price on shares of PubMatic in a research note on Monday, January 5th. Five analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, PubMatic currently has a consensus rating of “Hold” and a consensus price target of $12.44.

Read Our Latest Research Report on PubMatic

About PubMatic

(Get Free Report)

PubMatic is a cloud-based digital advertising technology company that provides a supply-side platform (SSP) enabling publishers to automate and optimize the sale of their ad inventory across display, mobile, video and connected TV channels. Its core offerings include real-time bidding infrastructure, header bidding solutions under the OpenWrap brand and data analytics tools that deliver actionable insights on audience engagement and monetization performance. By facilitating seamless auctions and providing transparent reporting, PubMatic helps publishers maximize yield while improving buyer experiences.