Business
PubMatic Announces Third Quarter 2021 Financial Results
Delivered record revenue of $58.1 million, generated $13.5 million in GAAP net income and $24.3 million in adjusted EBITDA;Fourth consecutive quarter of
About this update from Pubmatic, Inc.
[{"type":"text","content":" Delivered record revenue of $58.1 million, generated $13.5 million in GAAP net income and $24.3 million in adjusted EBITDA;Fourth consecutive quarter of best-in-class organic revenue growth over 50%, net margin over 10%and adjusted EBITDA margin over 30%;Raising full year 2021 financial outlook NO-HEADQUARTERS/REDWOOD CITY, Calif., Nov. 09, 2021 (GLOBE NEWSWIRE) -- PubMatic, Inc. (Nasdaq: PUBM), a sell-side platform that delivers superior outcomes for digital advertising, today reported financial results for the third quarter ending September 30, 2021. “We delivered record revenue in the third quarter, well ahead of our expectations. This quarter marks our fourth consecutive quarter of organic revenue growth above 50% and adjusted EBITDA margin over 30%,” said Rajeev Goel, co-founder and CEO at PubMatic. “We use a land and expand approach, coupled with a usage-based revenue model. When we deliver incremental value to our customers, we participate in their upside which further accelerates our profitable business model and enables us to invest for future growth. This flywheel positions us well for sustained and profitable growth and market share gains.” Third Quarter 2021 Financial Highlights Revenue in the third quarter of 2021 was $58.1 million, an increase of 54% over $37.8 million in the same period of 2020; GAAP net income was $13.5 million, or $0.24 per diluted share in the third quarter, an increase over net income of $6.2 million, or $0.10 per diluted share in the same period of 2020;Net dollar-based retention1 was 157% for the trailing twelve months ended September 30, 2021, an increase from 110% in the comparable trailing twelve month period a year ago; Adjusted EBITDA was $24.3 million, or 42% margin, compared to adjusted EBITDA of $13.4 million, or 35% margin, in the same period of 2020;Net cash provided by operating activities was $26.4 million, an increase of 617%, compared to $3.7 million in the same period of 2020; and Total cash, cash equivalents, and marketable securities of $136.7 million with no debt, an increase of 12% from the second quarter of 2021. 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. ...