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Jun 30, 2022
PubMatic Q2 2022 Earnings Report
PubMatic's Q2 2022 financial results were announced, showcasing revenue and adjusted EBITDA exceeding guidance, driven by omnichannel and diversified business.
Key Takeaways
PubMatic reported a strong second quarter with revenue of $63.0 million, a 27% increase year-over-year. GAAP net income was $7.8 million, and adjusted EBITDA was $23.0 million, representing a 37% margin.
Revenue reached $63.0 million, up 27% year over year.
GAAP net income was $7.8 million, representing a 12% margin.
Adjusted EBITDA was $23.0 million, resulting in a 37% margin.
Net dollar-based retention was 130% for the trailing twelve months ended June 30, 2022.
Forward Guidance
For the third quarter 2022, PubMatic expects revenue of between $66 million to $68 million or 15% at the midpoint for year over year growth. They expect adjusted EBITDA to be in the range of $23 million to $25 million, representing approximately a 36% margin at the midpoint. For fiscal year 2022, they expect revenue to be in the range of $277 million to $281 million, representing year-over-year growth of 23% at the midpoint. As a result of their growing global scale and increasing favorable revenue mix towards high margin video formats combined with the cost optimization plans in place, they are increasing their full year Adjusted EBITDA to be in the range of $103 million to $108 million, or 38% margin at the midpoint.
Positive Outlook
- Strong momentum with SPO relationships
- Continued growth of online video and CTV businesses
- Incremental political ad spend that will offset some of these challenges
- Continued benefits from a diversified business within the open internet ecosystem
- Growing global scale and increasing favorable revenue mix towards high margin video formats combined with the cost optimization plans in place
Challenges Ahead
- Further softening of European consumer demand amid worsening economic conditions stemming from uncertainty around energy supplies to high inflation and rising interest rates
Historical Earnings Impact
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