PubMatic Revenue Jumps 11% to $78.593 Million in Second Quarter
Key Facts
On August 6, 2026, PubMatic reported results for the second quarter ended June 30, posting revenue of $78.593 million, up 11% year over year. Revenue exceeded Benzinga’s estimate of $69.02 million by 13.9%. Chief Executive Rajeev Goel said the company delivered double-digit year-over-year revenue growth ahead of schedule and expanded profitability. The results followed first-quarter revenue of $62.6 million, versus $63.8 million in the same period of 2025. The company had expected to return to double-digit year-over-year growth in the second half of 2026. Second-quarter results reinforced that trajectory, while the company raised its revenue outlook for the following quarter.
On a GAAP basis, PubMatic recorded a net loss of $1.2 million in the second quarter, compared with a loss of $5.2 million a year earlier. Diluted loss per share narrowed to $0.03 from $0.11 in the second quarter of 2025. By contrast, non-GAAP net income was about $5.9 million, or $0.12 per diluted share. That was up from $2.5 million, or $0.05 per share, in the year-earlier period. Adjusted measures show an improvement in income, while the company continued to report a net loss under GAAP. Adjusted EBITDA also rose to $19.6 million, with a 25% margin, from $14.2 million and a 20% margin a year earlier.
Improved profitability was accompanied by higher free cash flow, which reached $13.7 million in the second quarter, up 47% from $9.3 million in the same period of 2025. By revenue source, the company said global connected TV advertising revenue grew 13% year over year and accounted for about 20% of total revenue. In the Americas, revenue from that business rose 25% year over year. Connected TV, mobile apps and emerging businesses together accounted for about 60% of second-quarter revenue. Mobile app revenue also increased by more than 40% year over year. These figures detail the sources of growth cited by the company, alongside the increase in overall revenue.
Emerging businesses stood out as one of the fastest-growing revenue sources: PubMatic said they rose about 100% year over year in the second quarter and made up nearly 15% of the total. These businesses include the AI solutions the company recently launched. The company linked its expansion to these products and to greater customer adoption of AI solutions, alongside growth in mobile apps and connected TV. This comes after revenue declined year over year in the first quarter, before double-digit annual growth returned in the second quarter. Goel said the growth came "ahead of schedule," alongside expanded profitability. The company’s reported figures point to a growing contribution from these businesses, while they remain part of total revenue rather than all of it.
PubMatic raised its third-quarter revenue guidance to a range of $75 million to $77 million, from a previous range of $68 million to $70 million announced in May. It also forecast adjusted EBITDA of $17 million to $19 million for the same period. The new revenue range is above Benzinga’s estimate of $71.37 million for the quarter ending September 30, 2026. These figures set expectations for the coming period, rather than serving as undated general guidance. The company said it would report third-quarter results on November 9, 2026, with its earnings announcement webcast at 4:30 p.m. Eastern Time. In trading on October 22, PUBM shares closed at $17.17.