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Dec 31, 2023
PubMatic Q4 2023 Earnings Report
Revenue growth accelerated, driven by deeper customer engagements and sticky technology offerings.
Key Takeaways
PubMatic announced record fourth quarter and fiscal year ended 2023 financial results. Q4 2023 revenue and adjusted EBITDA significantly exceeded guidance; Revenue growth accelerated to $84.6 million, up 14% over Q4 2022, delivered net income of $18.7 million or 22% margin, adjusted EBITDA of $38.9 million or 46% margin.
Revenue in the fourth quarter of 2023 was $84.6 million, an increase of 14% over the same period of 2022.
GAAP net income was $18.7 million with a margin of 22%, or $0.34 per diluted share in the fourth quarter, an increase over the same period of 2022.
Adjusted EBITDA was $38.9 million, or 46% margin, an increase over the same period of 2022.
Net cash provided by operating activities was $28.7 million, a 48% increase over the same period of 2022.
PubMatic
PubMatic
Forward Guidance
For the first quarter of 2024, we expect revenue to be in the range of $61 million to $63 million. We expect adjusted EBITDA to be in the range of $10 million to $12 million. For the full year 2024, we expect Year-over-year revenue growth of over 10%, or over 12% excluding Yahoo Adjusted EBITDA margin to be approximately 30% Free cash flow to be in line with 2023 CapEx to be in the range of $16M – $18M