Core Viewpoint - A securities class action lawsuit has been filed against PubMatic, Inc. for failing to disclose significant changes affecting its business operations and financial outlook during the class period from February 27, 2025, to August 11, 2025 [1][2]. Group 1: Allegations and Impact - The complaint alleges that PubMatic did not inform investors about a major demand-side platform (DSP) buyer shifting clients to a new platform, which evaluates inventory differently, leading to reduced ad spend and revenue [2]. - As a result of these undisclosed issues, the positive statements made by the company regarding its business and prospects were misleading and lacked a reasonable basis [2]. - Following the release of the second quarter 2025 financial report, which acknowledged a reduction in ad spend from a top DSP partner, the company's stock price dropped by $2.23, or 21.1%, closing at $8.34 per share on August 12, 2025 [3][4]. Group 2: Legal Proceedings - Investors who purchased shares of PubMatic during the class period are encouraged to contact the law firm Gainey McKenna & Egleston before the lead plaintiff motion deadline on October 20, 2025 [5]. - The lead plaintiff will represent the interests of other class members in the litigation process [5].

As filed with the U.S. Securities and Exchange Commission on August 21, 2025 Registration No. 333-283112 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Amendment No.4 to FORM F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 KNOREX LTD. (Exact name of registrant as specified in its charter) Cayman Islands 7370 Not Applicable (State or Other Jurisdiction of Incorporation or Organization) (Primary Standard Industrial (I.R.S. Employer Identification Number) 21 Merchant Road, ...

Core Insights - AppLovin (APP) is experiencing significant revenue and profitability growth in 2025, primarily driven by AI-enhanced advertising technology [1] Financial Performance - In Q2 2025, AppLovin's revenues increased by 77% year-over-year to $1.26 billion, with adjusted EBITDA nearly doubling and an operating margin of 81% [2] - Earnings per share reached $2.26, surpassing the Zacks Consensus Estimate of $1.99, while revenues exceeded the consensus estimate by 3.7% [2] - Free cash flow rose by 72% to $768 million, indicating strong cash generation and financial health [2] Strategic Initiatives - AppLovin is planning to launch a self-serve referral platform in October 2025 and aims for a global rollout of its Axon advertising platform in 2026 [3] - The company targets a year-over-year growth rate of 20-30%, primarily driven by its gaming segment and AI-driven ad monetization [3] Competitive Landscape - AppLovin differentiates itself by combining AI with mobile gaming ad monetization, outpacing peers like The Trade Desk and Magnite in revenue growth rates [5] - The Trade Desk focuses on programmatic advertising and connected TV, while Magnite emphasizes scale and inventory diversification across multiple device types [4] Valuation and Market Performance - AppLovin's stock has gained 27% year-to-date, compared to the industry's 14% growth [7] - The stock trades at a forward price-to-earnings ratio of 34.8, significantly below the industry average of 85.68 [8] - The Zacks Consensus Estimate for AppLovin's earnings has been rising over the past 30 days, indicating positive market sentiment [10]

Core Viewpoint - A class action lawsuit has been filed against PubMatic, Inc. for allegedly making materially false and misleading statements regarding its business operations and financial outlook during the specified Class Period from February 27, 2025, to August 11, 2025 [1][3]. Summary by Sections Class Action Lawsuit - The lawsuit is on behalf of all individuals and entities who purchased or acquired PubMatic securities during the Class Period [1]. - Investors have until October 20, 2025, to apply to the Court to be appointed as lead plaintiff in the lawsuit [1]. Allegations Against PubMatic - The complaint alleges that PubMatic's management failed to disclose significant adverse facts, including a major DSP buyer shifting clients to a new platform, leading to reduced ad spend and revenue [3]. - The misleading statements made by the defendants about the company's business and prospects lacked a reasonable basis [3]. Financial Impact - On August 11, 2025, PubMatic reported a reduction in ad spend from a top DSP partner, which was disclosed by the CFO and CEO during the earnings call [4]. - Following this announcement, PubMatic's stock price dropped by $2.23, or 21.1%, closing at $8.34 per share on August 12, 2025, with unusually high trading volume [4].

Core Insights - The Trade Desk, Inc. (TTD) reported second-quarter 2025 revenues of $694 million, an 18.6% year-over-year increase, exceeding guidance and consensus estimates [1] - Connected TV (CTV) is the fastest-growing channel, bolstered by partnerships with major media players [1] - The Kokai platform is gaining traction, with over 70% of clients expected to fully adopt it by 2025 [2] Financial Performance - TTD's Q2 2025 revenues of $694 million surpassed the guidance of at least $682 million and consensus estimates by 1.4% [1] - For Q3 2025, TTD projects revenues of at least $717 million, indicating a 14% year-over-year growth, but a slowdown from previous quarters [4][9] - Operating costs increased by 17.8% year-over-year, impacting margins [7][9] Business Developments - The Kokai platform, powered by advanced AI, is enhancing campaign performance, with significant improvements reported by clients [2] - TTD is streamlining the digital ad supply chain with OpenPath and has launched Deal Desk to manage ad deal performance [3] - The company is expanding partnerships in generative AI with firms like Rembrand and Nova [2] Market Position and Competition - TTD faces intense competition in the digital advertising space from giants like Google and Amazon, as well as smaller players [6] - CTV remains a strong revenue driver, but increasing competition in this segment raises concerns about reliance on it for growth [6] Outlook and Challenges - Macroeconomic uncertainty may impact advertising budgets, with potential pressure on revenue growth if programmatic demand decreases [5] - The company is experiencing a maturing growth trajectory, as indicated by the deceleration in revenue growth rates [4][9]

Core Insights - PubMatic, Inc. is under investigation for potential violations of federal securities laws following a significant decline in its stock price after the release of its Q2 2025 financial report [1][2] - The company reported a headwind from a top Demand-Side Platform (DSP) buyer, which has shifted clients to a new platform, leading to expected revenue declines in Q3 2025 [2] Financial Performance - On August 11, 2025, PubMatic disclosed that it had experienced a reduction in ad spend from one of its top DSP partners, which is anticipated to significantly impact revenue [2] - Following this announcement, PubMatic's stock price fell by $2.23, or 21.1%, closing at $8.34 per share on August 12, 2025 [2] Legal Context - Glancy Prongay & Murray LLP is leading the investigation on behalf of PubMatic investors who may have suffered losses due to the company's disclosures [1][2] - The law firm encourages individuals with non-public information regarding PubMatic to consider aiding the investigation or utilizing the SEC Whistleblower Program, which offers rewards for original information [4]

Core Viewpoint - PubMatic, Inc. is under investigation for potential violations of federal securities laws following a significant decline in its stock price after the release of its second quarter 2025 financial report, which indicated a revenue decline due to reduced ad spending from a major partner [1][3]. Financial Performance - On August 11, 2025, PubMatic reported that it experienced a headwind from a top Demand-Side Platform (DSP) buyer, which shifted clients to a new platform, leading to an expected significant revenue decline in the third quarter [3]. - Following this announcement, PubMatic's stock price dropped by $2.23, or 21.1%, closing at $8.34 per share on August 12, 2025, resulting in losses for investors [3].

Summary of PubMatic FY Conference Call - August 19, 2025 Company Overview - **Company**: PubMatic (PUBM) - **Industry**: Digital Advertising, specifically focusing on Supply-Side Platform (SSP) services Key Points and Arguments 1. **Investment Case**: PubMatic is positioned well in the digital advertising industry, benefiting from trends such as the growth of Connected TV (CTV) and programmatic advertising, while holding a leadership position in the SSP market [1][2][3] 2. **Business Model**: The company connects four key stakeholders: content creators, ad buyers, data owners, and commerce media participants, utilizing its own infrastructure to enhance ad business growth [2][3] 3. **Financial Performance**: PubMatic reported its 37th consecutive quarter of adjusted EBITDA profitability, indicating a strong financial profile and healthy free cash flow, which supports ongoing innovation [4] 4. **Market Share**: PubMatic holds approximately 4% market share in the SSP space, competing against Google (60%) and Magnite (6%) [7] 5. **Growth Areas**: Significant growth is observed in CTV, commerce media, and supply path optimization (SPO), with CTV now accounting for about 20% of revenue and growing over 50% year-over-year [14][18] 6. **SPO Growth**: SPO has increased to 55% of PubMatic's business, up from 35% a few years ago, indicating a trend where buyers consolidate ad spend onto fewer SSPs [18][54] 7. **Impact of DSP Changes**: A major DSP partner's shift to a new platform has caused a temporary headwind, with expected revenue decline of 8% to 15% in Q3, attributed to political headwinds and the DSP's inventory evaluation changes [26][30] 8. **Diversification Strategy**: The company is focusing on diversifying ad spend away from legacy DSPs, with growth in mid-tier DSPs and partnerships with companies like Amazon and Mountain [31][46] 9. **AI Integration**: PubMatic is leveraging AI to enhance its platform, allowing buyers to use simple prompts for audience targeting and campaign management, which is expected to drive future growth [56] 10. **Google Antitrust**: Potential remedies from ongoing antitrust litigation against Google could significantly impact PubMatic's market share and revenue, with estimates suggesting $50 million of EBITDA for each percentage point share shift [64][66] Additional Important Insights - **Market Dynamics**: The shift of ad dollars from traditional TV to CTV and programmatic advertising is seen as a secular tailwind for PubMatic [12][13] - **Publisher Traffic**: Approximately 40% of PubMatic's business is from mobile app and CTV, which are less affected by search referral traffic, indicating resilience against search-related headwinds [21] - **Long-term Outlook**: The company remains optimistic about its growth trajectory, focusing on high-value video and emerging revenue streams, which are doubling [37][38] - **Behavioral Remedies**: The DOJ's proposed behavioral remedies against Google could lead to a more equitable bidding process across SSPs, potentially benefiting PubMatic [66][69] This summary encapsulates the key discussions and insights from the PubMatic FY Conference Call, highlighting the company's strategic positioning, financial health, and market opportunities amidst challenges.

Core Viewpoint - The Law Offices of Frank R. Cruz is investigating PubMatic, Inc. for potential violations of federal securities laws following a significant decline in its stock price after the release of its second quarter 2025 financial report [1][2]. Financial Performance - On August 11, 2025, PubMatic reported a headwind from a top Demand-Side Platform (DSP) buyer, which shifted clients to a new platform, leading to an expected significant revenue decline in the third quarter due to reduced ad spend from this partner [2]. - Following this announcement, PubMatic's stock price dropped by $2.23, or 21.1%, closing at $8.34 per share on August 12, 2025, resulting in financial injury to investors [2].

Core Insights - AppLovin Corporation (APP) has experienced a 20% increase in stock price over the past three months, outperforming the broader industry and major digital ad competitors [1][7] - The launch of AppLovin's AI engine, Axon 2, has significantly enhanced ad performance, leading to a quadrupling of advertising spend on its platform [2][3] - AppLovin's annual run rate in ad spend from gaming clients is estimated at $10 billion, positioning the company among the top global ad tech firms by valuation [3] Financial Performance - In Q2 2025, AppLovin reported a 77% year-over-year increase in revenues, a 99% rise in adjusted EBITDA, and a 156% surge in net income [9][7] - For the full year 2024, revenues increased by 43% year-over-year, while adjusted EBITDA grew by 81% [9] Analyst Projections - The Zacks Consensus Estimate for Q3 2025 earnings is $2.32 per share, reflecting an 86% increase from the previous year, with revenues expected to reach $1.34 billion, indicating an 11.7% year-over-year growth [10][11] - Full-year 2025 earnings are projected to increase by 98%, with revenues expected to grow by 17% in 2025 and 26% in 2026 [10][11] Strategic Positioning - AppLovin's Axon 2 serves as a critical catalyst for recovery in mobile advertising, especially in a challenging post-Identifier for Advertisers environment [4] - The company is leveraging AI to drive direct monetization in mobile advertising, distinguishing itself from other tech giants focusing on enterprise productivity [8][13]