PUBMATIC, INC.
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Revenue | $282.9M | $291.3M | $267.0M | $256.4M | $226.9M | $148.7M | $113.9M |
| Cost of Revenue | $103.1M | $101.0M | $99.2M | $81.5M | $58.3M | $41.2M | $36.1M |
| Gross Profit | $179.8M | $190.2M | $167.8M | $174.9M | $168.6M | $107.6M | $77.8M |
| Gross Margin | 63.6% | 65.3% | 62.8% | 68.2% | 74.3% | 72.3% | 68.3% |
| Operating Expenses | |||||||
| Research & Development | $33.8M | $33.3M | $26.7M | $20.8M | $15.9M | $12.3M | $12.5M |
| SG&A Expense | $60.3M | $57.7M | $56.2M | $44.9M | $35.8M | $20.3M | $20.3M |
| Operating Income | $-17.3M | $3.9M | $2.0M | $40.5M | $58.8M | $31.8M | $8.5M |
| Operating Margin | -6.1% | 1.3% | 0.8% | 15.8% | 25.9% | 21.3% | 7.5% |
| Interest Expense | — | — | — | — | — | — | — |
| Pretax Income | $-16.0M | $17.8M | $10.5M | $37.5M | $64.8M | $31.6M | $9.2M |
| Income Tax Expense | $-1.5M | $5.3M | $1.6M | $8.8M | $8.2M | $5.0M | $2.6M |
| Net Income | $-14.5M | $12.5M | $8.9M | $28.7M | $56.6M | $26.6M | $6.6M |
| Net Margin | -5.1% | 4.3% | 3.3% | 11.2% | 24.9% | 17.9% | 5.8% |
| EPS (Basic) | $-0.31 | $0.25 | $0.17 | $0.55 | $1.13 | $0.17 | $0.01 |
| EPS (Diluted) | $-0.31 | $0.23 | $0.16 | $0.50 | $1.00 | $0.15 | $0.01 |
| Shares Outstanding (Basic) | 47.0M | 49.2M | 51.8M | 52.3M | 50.2M | 37.9M | 30.1M |
| Shares Outstanding (Diluted) | 47.0M | 54.3M | 56.0M | 56.9M | 56.6M | 51.4M | 36.5M |
| Dividends Per Share | — | — | — | — | — | — | — |