Financial Performance - For the year ended December 31, 2023, the company's revenue was $267.0 million, an increase from $256.4 million in 2022, representing a growth of approximately 0.25%[358]. - The company's net income for 2023 was $8.9 million, a significant decrease from $28.7 million in 2022, reflecting a decline of approximately 68.9%[365]. - The company reported a gross profit of $167.79 million in 2023, down from $174.87 million in 2022, a decrease of about 4.0%[365]. - The company's income before provision for income taxes for 2023 was $10,505,000, a decrease of 72.0% from $37,467,000 in 2022[479]. - The effective tax rate for 2023 was 15.44%, down from 23.43% in 2022, indicating a significant reduction in the tax burden[479]. Assets and Liabilities - Total current assets increased to $561.96 million in 2023 from $503.48 million in 2022, marking a growth of about 11.6%[363]. - The company's total liabilities increased to $399.04 million in 2023 from $329.99 million in 2022, representing a growth of approximately 20.9%[363]. - The company's cash and cash equivalents decreased to $78.51 million in 2023 from $92.38 million in 2022, a decline of about 15.0%[363]. - Total accounts payable increased to $347.673 million as of December 31, 2023, up from $277.414 million in 2022[435]. - Total deferred tax assets, net of valuation allowance, increased to $30,514,000 in 2023 from $13,564,000 in 2022, representing a growth of 125.5%[480]. Operating Expenses - Operating expenses rose to $165.75 million in 2023, up from $134.35 million in 2022, indicating an increase of approximately 23.3%[365]. - Depreciation and amortization expenses increased to $44,770,000 in 2023 from $34,249,000 in 2022[374]. - Stock-based compensation rose to $28,862,000 in 2023, compared to $20,646,000 in 2022[374]. - Operating lease cost increased to $7,468,000 in 2023 from $6,876,000 in 2022, reflecting a growth of approximately 8.6%[446]. Cash Flow and Investments - Operating cash flow for 2023 was $81,121,000, slightly lower than $87,212,000 in 2022[374]. - The company reported a net cash used in investing activities of $39,018,000 in 2023, compared to $81,371,000 in 2022[374]. - The Company capitalized $21.3 million in software development costs during the year ended December 31, 2023, compared to $14.5 million in 2022[433]. Stock and Equity - The Company repurchased treasury stock at a cost of $59,617,000 in 2023, compared to no repurchases in 2022[374]. - The total stockholders' equity as of December 31, 2023, was $296,199,000, an increase from $312,188,000 in 2022[371]. - The Company granted 2,573 RSUs in 2023, with a weighted-average grant date fair value of $15.98 per share[468]. - The total stock-based compensation expense for 2023 was $28.9 million, an increase from $20.6 million in 2022 and $14.1 million in 2021[476]. Revenue Recognition and Accounting Policies - The company recognized revenue net of payments to publishers, with a critical audit matter related to the revenue cycle due to the complexity of the revenue recognition process[359]. - Revenue is recognized on a net basis, as the Company does not act as the principal in the purchase and sale of digital advertising inventory[406]. - The Company capitalizes internal use software development costs, which are amortized over an estimated useful life of two to five years[393]. Market and Competitive Environment - The digital advertising industry is intensely competitive, and failure to effectively compete could adversely affect the company's business and financial condition[24]. - The company relies on third-party data centers, and any disruption could adversely affect its operations and financial results[24]. - Future acquisitions or strategic investments may be difficult to identify and integrate, potentially disrupting business operations[24]. Foreign Currency and Economic Factors - A hypothetical 10% change in the U.S. Dollar to Indian Rupee exchange rate could result in a change of $2.0 million in operating income for the year ended December 31, 2023[345]. - The company has not entered into any hedging arrangements for foreign currency risk, which could affect operating income if foreign sales and expenses increase[345]. - The company does not believe that inflation has had a material effect on its business, but significant inflationary pressures could adversely affect operations[346]. Legal and Regulatory Compliance - The company is subject to evolving legal and industry standards regarding data protection, which could impact its operations[24].

PubMatic (NASDAQ: PUBM) stock price was one of the best performers in the pre-market as investors cheered the company’s financial results. It jumped by more than 30% to $21, its highest point since August 2022. The shares have jumped by more than 90% from its lowest point this year.Strong financial resultsCopy link to sectionPubMatic, a leading company in the digital marketing industry, has done well in the past few months. This view was confirmed after it published strong financial results on Monday this w ...

PubMatic, Inc. (PUBM) came out with quarterly earnings of $0.34 per share, beating the Zacks Consensus Estimate of $0.19 per share. This compares to earnings of $0.33 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 78.95%. A quarter ago, it was expected that this company would post a loss of $0.08 per share when it actually produced earnings of $0.03, delivering a surprise of 137.50%.Over the last four quarters, the company ha ...

PubMatic, Inc. (NASDAQ:PUBM) Q4 2023 Earnings Conference Call February 26, 2024 4:30 PM ET Company Participants Stacie Clements - Investor Relations, The Blue Shirt Group Rajeev Goel - Co-Founder & Chief Executive Officer Steve Pantelick - Chief Financial Officer Conference Call Participants Shweta Khajuria - Evercore Matt Swanson - RBC James Heaney - Jefferies Justin Patterson - KeyBanc Matt Condon - JMP Andrew Marok - Raymond James Jason Helfstein - Oppenheimer Max Michaelis - Lake Street Operator Hello, ...

Q4 2023 revenue and adjusted EBITDA significantly exceeded guidance; Revenue growth accelerated to $84.6 million, up 14% over Q4 2022, delivered net income of $18.7 million or 22% margin, adjusted EBITDA of $38.9 million or 46% margin; Supply Path Optimization represented 45%+ of total activity in Q4 2023; Generated $81.1 million in cash from operations in 2023; Generated $52.8 million in free cash flow in 2023, a 38% increase over 2022 NO-HEADQUARTERS/REDWOOD CITY, Calif., Feb. 26, 2024 (GLOBE NEWSWIRE) -- ...

EXHIBIT 99.1 PubMatic Announces Record Fourth Quarter and Fiscal Year Ended 2023 Financial Results; Board of Directors Expands Share Repurchase Program by $100 million NO-HEADQUARTERS/REDWOOD CITY, Calif., February 26, 2024 (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 fourth quarter and fiscal year ended December 31, 2023. "We ended 2023 on an incredibly high note, ma ...

NO-HEADQUARTERS/REDWOOD CITY, Calif., Feb. 22, 2024 (GLOBE NEWSWIRE) -- PubMatic, Inc. (Nasdaq: PUBM), an independent technology company delivering digital advertising’s supply chain of the future, today announced that members of its management team are scheduled to present at upcoming investor conferences. Detail for the events are as follows: The Citizens JMP Technology Conference Monday, March 4, 2024 at 12:00 pm PT KeyBanc Emerging Technology Summit Tuesday, March 5, 2024 at 10:30 am PT The presentation ...

PubMatic, Inc. (PUBM) shares ended the last trading session 5.2% higher at $17.19. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 11.5% gain over the past four weeks.PubMatic is riding on an expanding clientele and strong partner base. It recently inked a partnership with DISH Media to accelerate programmatic demand for Sling TV.This company is expected to post quarterly earnings of $0.19 per share in its upcoming ...

NO-HEADQUARTERS/REDWOOD CITY, Calif., Feb. 15, 2024 (GLOBE NEWSWIRE) -- PubMatic (NASDAQ:PUBM), an independent technology company delivering digital advertising's supply chain of the future, today announced a partnership with DISH Media (NASDAQ:SATS) that allows SLING TV to tap into PubMatic's supply path optimization partnerships to access premium demand via private marketplace deals. SLING TV and PubMatic's new partnership comes as more consumers seek ad supported streaming providers as a primary means fo ...

NO-HEADQUARTERS/REDWOOD CITY, Calif., Jan. 29, 2024 (GLOBE NEWSWIRE) -- PubMatic (NASDAQ:PUBM), an independent technology company delivering digital advertising's supply chain of the future, today announced that Robin Steinberg, formerly Vice President, Advertiser Solutions, has been promoted to the position of Senior Vice President of Advertiser Solutions, with a key focus on agency demand and CTV publisher partnerships. Steinberg joined PubMatic in September 2022 to evolve PubMatic's key relationships wit ...