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Sep 30, 2023
PubMatic Q3 2023 Earnings Report
Revenue and adjusted EBITDA exceeded guidance, net income achieved with 3% margin, and cash from operating activities generated.
Key Takeaways
PubMatic's Q3 2023 results show revenue of $63.7 million, net income of $1.8 million, and adjusted EBITDA of $18.2 million. Supply Path Optimization (SPO) reached 45% of total activity, and the company generated $17.2 million in free cash flow.
Revenue reached $63.7 million.
Net income was $1.8 million, representing a 3% margin.
Adjusted EBITDA totaled $18.2 million, a 29% margin.
Supply Path Optimization (SPO) accounted for 45% of total activity.
Revenue by Segment
Forward Guidance
For the fourth quarter of 2023, PubMatic expects revenue between $76 million and $80 million, and adjusted EBITDA in the range of $32 million to $35 million, representing approximately a 43% margin at the midpoint.
Positive Outlook
- Revenue to be between $76 million to $80 million.
- Adjusted EBITDA to be in the range of $32 million to $35 million.
- Adjusted EBITDA margin of approximately 43% at the midpoint.
- Full year 2023 CapEx to be in the range of $10M – $13M, a decrease of approximately 70% over 2022.
- Macroeconomic and geopolitical conditions continue to be challenging and advertisers remain cautious, particularly with respect to brand advertising.
Challenges Ahead
- Macroeconomic and geopolitical conditions continue to be challenging.
- Advertisers remain cautious, particularly with respect to brand advertising.
- Outlook reflects challenging conditions alongside recent positive trends in the business.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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