PubMatic(US:PUBM)2024-08-08 20:10Revenue and Growth - Revenue for Q2 2024 was $67.3 million, up 6% compared to Q2 2023, with omnichannel video revenue growing 19% year-over-year[1][5] - Revenue from high-value formats and channels, including mobile display and omnichannel video, grew 15% year-over-year and represented 78% of total revenue[5] - Revenue for Q2 2024 increased to $67.3 million, up 6.2% from $63.3 million in Q2 2023[17] - Revenue for Q2 2024 was $67.267 million, up from $63.330 million in Q2 2023[20] - For Q3 2024, the company expects revenue between $65 million to $67 million and adjusted EBITDA of $15 million to $17 million, representing a 24% margin at the midpoint[9] - Full-year 2024 revenue is projected to be between $288 million and $292 million, representing approximately 9% growth, with adjusted EBITDA expected to be $87 million to $91 million, a 31% margin at the midpoint[9] Profitability and Margins - Gross profit increased by 10% year-over-year to $42.1 million, with a net income of $2.0 million and a 3% margin[1][3] - Adjusted EBITDA for Q2 2024 was $21.1 million, representing a 31% margin, up from $10.8 million and a 17% margin in Q2 2023[1][3] - Gross profit for Q2 2024 increased to $42.1 million, up 10.1% from $38.3 million in Q2 2023[17] - Net income for Q2 2024 improved to $1.97 million, compared to a net loss of $5.72 million in Q2 2023[17] - Adjusted EBITDA for Q2 2024 was $21.078 million, a significant increase from $10.809 million in Q2 2023, with an Adjusted EBITDA margin of 31% compared to 17% in Q2 2023[20] - Non-GAAP net income for Q2 2024 was $9.671 million, compared to $0.152 million in Q2 2023[21] - Non-GAAP diluted EPS for Q2 2024 was $0.17, compared to $0.00 in Q2 2023[21] - Net income for Q2 2024 was $1.971 million, compared to a net loss of $5.724 million in Q2 2023[20] Cash Flow and Financial Position - Net cash provided by operating activities for the first six months of 2024 increased to $36.2 million, up 26.7% from $28.6 million in the same period of 2023[19] - Free cash flow for Q2 2024 was $6.913 million, down from $10.795 million in Q2 2023[22] - Net cash provided by operating activities for Q2 2024 was $11.944 million, down from $15.848 million in Q2 2023[22] - Cash and cash equivalents decreased to $73.5 million as of June 30, 2024, from $78.5 million as of December 31, 2023[16] - Total assets decreased to $673.1 million as of June 30, 2024, from $695.2 million as of December 31, 2023[16] - Accounts receivable decreased to $351.6 million as of June 30, 2024, from $375.5 million as of December 31, 2023[16] Share Repurchase and Capital Expenditures - The company repurchased 6.1 million shares of Class A common stock for $100.1 million, with $74.9 million remaining in the repurchase program[4] - CapEx for 2024 is estimated to be between $16 million and $18 million[10] Operating Expenses and Compensation - Total operating expenses for Q2 2024 increased to $46.1 million, up 1.5% from $45.4 million in Q2 2023[17] - Stock-based compensation expense for Q2 2024 increased to $9.7 million, up 33.5% from $7.3 million in Q2 2023[18] - Stock-based compensation for Q2 2024 was $9.699 million, up from $7.266 million in Q2 2023[20] - Depreciation and amortization for Q2 2024 was $11.336 million, slightly up from $10.898 million in Q2 2023[20] Monetization and Impressions - Monetized impressions grew 12% year-over-year, with Supply Path Optimization (SPO) representing over 50% of total activity[1][5] Headcount and Workforce - The company increased global headcount by 16% year-over-year in Q2 2024, adding team members across product management, engineering, and go-to-market teams[7] Interest Income - Interest income for Q2 2024 was $2.340 million, compared to $2.176 million in Q2 2023[20] Operating Loss - Operating loss for Q2 2024 narrowed to $3.99 million, compared to $7.13 million in Q2 2023[17]