Business
PubMatic Announces First Quarter 2023 Financial Results
Delivered revenue of $55.4 million, ahead of guidance; Generated $5.9 million in GAAP net loss and non-GAAP net income of $0.9 million; Delivered $8.4 million
About this update from Pubmatic, Inc.
[{"type":"text","content":"Delivered revenue of $55.4 million, ahead of guidance; Generated $5.9 million in GAAP net loss and non-GAAP net income of $0.9 million; Delivered $8.4 million in adjusted EBITDA, or 15% margin, ahead of guidance; Revenue from omnichannel video including CTV grew 13% year over year;Signed over 65 new publishers;Supply Path Optimization accelerated to 35%+ of total activity;Generated $12.8 million in cash from operating activities, and $5.3 million of free cash flow NO-HEADQUARTERS/REDWOOD CITY, Calif., May 09, 2023 (GLOBE NEWSWIRE) -- PubMatic, Inc. (Nasdaq: PUBM), an independent technology company delivering digital advertising’s supply chain of the future, today reported financial results for the first quarter ending March 31, 2023. “Our focused strategy, strong execution, and deep customer relationships drove our performance and market share gains in the quarter. Our results reinforce the value of our platform with innovative solutions that drive increased stickiness and superior outcomes for publishers and buyers,” said Rajeev Goel, co-founder and CEO at PubMatic. “Our omnichannel platform, global scale and strong financial profile are key differentiators that enable us to unlock additional opportunities to further scale our business. The consolidation we’ve seen across our industry has resulted in the rapid evolution of the advertising supply chain and we believe the industry is at an inflection point. We expect Activate, our most recent product launch, to expand our total addressable market by nearly $65 billion.” First Quarter 2023 Financial Highlights Revenue in the first quarter of 2023 was $55.4 million, an increase of 2% over $54.6 million in the same period of 2022;Revenue from omnichannel video in the first quarter of 2023 grew 13% over the same period last year;GAAP net loss was $5.9 million, or $(0.11) per diluted share in the first quarter, compared to GAAP net income of $4.8 million, or $0.08 per diluted share in the same period of 2022;Net dollar-based retention1 was 105% for the trailing twelve-months ended March 31, 2023, compared to 140% in the comparable trailing twelve-month period a year ago;Adjusted EBITDA was $8.4 million, or 15% margin, compared to adjusted EBITDA of $17.0 million, or a 31% margin, in the same period of 2022;Non-GAAP net income was $0.9 million, or $0.02 per diluted share in the first q...