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PubMatic Announces Record Third Quarter 2026 Financial Results; Delivered Revenue and Adjusted EBITDA Well Ahead of Guidance

PUBM
  • PubMatic Board authorized a $150 million expansion of its share repurchase program, bringing total available funds to approximately $198 million through December 31, 2028.
  • Third quarter 2026 total revenue grew 17% year-over-year to $79.6 million, marking the third consecutive quarter of accelerating growth.
  • Adjusted EBITDA increased 133% to $26 million, representing a 33% margin compared to 16% in the prior year quarter.
  • CTV, mobile app, & emerging revenues accounted for approximately 64% of total revenue, up from 60% in the previous quarter.
  • Agentic adoption expanded to over 120 autonomous campaigns & 14,000 AI-powered deals, with AgenticOS reducing campaign setup times by up to 80%.
  • The company reported GAAP net income of $5.5 million ($0.11 per share) compared to a net loss of $6.5 million in the same period of 2025.
  • Non-GAAP net income rose to $12.6 million ($0.25 per share), while free cash flow totaled $17.6 million for the quarter.
  • PubMatic ended the quarter with $144.5 million in cash, cash equivalents, & marketable securities, maintaining a debt-free balance sheet.
  • Strategic partnerships were announced with Sony Pictures Entertainment for LIVE TV on PS5 & with Strategus for live sports programmatic advertising.
  • Q4 2026 revenue is projected to be between $91 million & $93 million, with full-year 2026 revenue expected to reach $312 million to $314 million.
  • Revenue from emerging sources more than doubled year-over-year, now representing 18% of total revenue, including new AI solutions.
  • Buying activity from Activate grew more than 8 times compared to Q3 2025, while mid-market DSP activity increased over 40%.
  • Infrastructure optimization led to a 15% increase in monetized impressions while reducing processed impressions by 8% year-over-year.
  • Cost of revenue per million impressions processed decreased 15% on a trailing twelve-month basis.