\nPubMatic, Inc. (Nasdaq: PUBM), the leading AI-powered ad tech company delivering digital advertising performance, today reported financial results for the quarter ended September 30, 2026.<\/p>\n
\n“We delivered an outstanding third quarter, with revenue growth accelerating for the third consecutive quarter and adjusted EBITDA more than doubling year-over-year,\u201d said Rajeev Goel, co-founder and CEO of PubMatic. \u201cOur investments in advertiser performance are translating into faster, more profitable growth and a more diversified business. At the same time, AI is accelerating the shift from sell-side targeting to sell-side decisioning, enabling buyers to act on richer intelligence closer to the inventory and first party insights. Our proprietary platform intelligence, agentic leadership and AI-native infrastructure position us to lead this shift, deliver more value to buyers and publishers and expand our market opportunity.”<\/p>\n
Third Quarter 2026 Financial Highlights<\/span><\/b><\/p>\n \nThe section titled \u201cNon-GAAP Financial Measures\u201d below describes our usage of non-GAAP financial measures. Reconciliations between historical GAAP and non-GAAP information are contained at the end of this press release following the accompanying financial data.<\/p>\n \n\u201cOur third quarter is the clearest evidence yet that the transformation of our business is working,\u201d said Steve Pantelick, CFO at PubMatic. \u201cRevenue and adjusted EBITDA were well ahead of guidance with 17% revenue growth, a 33% adjusted EBITDA margin and strong free cash flow. And this is not a one-quarter event. Nearly two-thirds of our revenue now comes from high-value channels and formats growing more than 50%. For the full year, we expect double-digit revenue growth and adjusted EBITDA margin expansion. Our debt-free balance sheet gives us the flexibility to fund growth and return capital through our expanded repurchase program, as momentum in the business carries into 2027.\u201d<\/p>\n Business Highlights<\/span><\/b><\/p>\n AgenticOS Drives Ad Performance and Customer Adoption<\/b><\/p>\n Decision Fabric Solution Drives Adoption of Sell-Side Targeting<\/b><\/p>\n New Partnerships Fuel Intelligence Advantage<\/b><\/p>\n Diversified Revenue Mix and Expanded Growth From Ad Buyers and Partners<\/b><\/p>\n Operating Priorities Drove Profitable Growth<\/b><\/p>\n Share Repurchase Program Expanded<\/b><\/p>\n \nOn November 9, 2026 our Board of Directors authorized an expansion and extension of our existing share repurchase program. Under the updated program, we are authorized to repurchase up to an additional $150 million of our Class A common stock through December 31, 2028. Based on the amounts remaining under our prior authorization as of September 30, 2026, and after giving effect to this expansion, we have approximately $198 million allocated to share repurchases through the end of 2028. The timing and total amount of repurchases will depend upon business, economic and market conditions, corporate and regulatory requirements, prevailing stock prices and other considerations. The share repurchase program may be suspended or discontinued at any time and does not obligate us to purchase any amount of Class A common stock. We expect to fund repurchases with existing cash and cash equivalents and marketable securities.<\/p>\n Financial Outlook<\/span><\/b><\/p>\n \nOur outlook assumes that general market conditions do not significantly deteriorate as it relates to current macroeconomic and geopolitical conditions.<\/p>\n \nFor the fourth quarter of 2026, we expect the following:<\/p>\n \nFor the full year of 2026, we expect the following:<\/p>\n \nAlthough we provide guidance for adjusted EBITDA, we are not able to provide guidance for net income (loss), the most directly comparable GAAP measure. Certain elements of the composition of GAAP net income (loss), including stock-based compensation expenses, are not predictable, making it impractical for us to provide guidance on net income or to reconcile our adjusted EBITDA guidance to net income without unreasonable efforts. For the same reason, we are unable to address the probable significance of the unavailable information.<\/p>\n\n
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