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PubMatic PUBM Q3 2025 earnings

Reported November 10, 2025 · After market close

Revenue$68.0MMiss by $8.2M
EPS$0.03Beat by $0.04
Revenue estimate$76.1M
EPS estimate-$0.01

Next report

Aug 6, 2026 (In 1 week)
Revenue estimate$69.0M
EPS estimate$0.03

Financials

Q3 2025

Income statement

See full
Revenue$68.0M-5.3%
Gross profit$42.6M-8.0%
Operating income-$8.4M-517%
Net income-$6.5M-607%
EPS (diluted)-$0.14-600%

Balance sheet

See full
Cash & equivalents$136.5M+73.0%
Total debt$45.0M+25.4%
Total equity$245.1M-6.9%
Total assets$676.2M-1.9%

Cash flow

See full
Operating cash flow$32.4M+69.2%
CapEx$4.7M-60.2%
Free cash flow$27.7M+274%

Valuation & ratios

Valuation

as of 09/30/25
See full
Market cap$378.59M-48.9%
Enterprise value$287.01M-58.8%
P/S1.3×-1.2×

Profitability

See full
Gross margin64.4%-1.0pp
Operating margin-3.8%-7.1pp
Net margin-2.5%-8.5pp
FCF margin24%+1.4pp

Returns & leverage

See full
Return on equity-2.9%-9.1pp
Debt / equity0.2×0.0×
Current ratio1.3×0.0×

Segments

By geography

See full
EMEA$21.3M+6.9%
APAC$7.7M+11.5%
Rest of the world$1.4M+2.3%

By segment

See full
Reportable Segment$68.0M-5.3%

Versus estimates

Revenue

Q1 2026$62.6MBeat by $2.2MQ4 2025$80.0MBeat by $4.8M
Q3 2025$68.0MMiss by $8.2M
Q2 2025$71.1MBeat by $1.5MQ1 2025$63.8MMiss by $3.4MQ4 2024$85.5MMiss by $2.7M

Diluted EPS

Q1 2026-$0.27Beat by $0.05Q4 2025$0.14Beat by $0.15
Q3 2025$0.03Beat by $0.04
Q2 2025$0.05Beat by $0.03Q1 2025-$0.04Beat by $0.01Q4 2024$0.41Beat by $0.04

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Questions, answered.

When did PubMatic report Q3 2025 earnings?
PubMatic (PUBM) reported Q3 2025 earnings on November 10, 2025 after market close.
What were PubMatic's Q3 2025 revenue and EPS?
PubMatic reported revenue of $68.0M and eps of $0.03 for Q3 2025.
Did PubMatic beat estimates in Q3 2025?
Revenue missed the consensus estimate of $76.1M by $8.2M. EPS beat the consensus estimate of $-0.01 by $0.04.
How did PubMatic's Q3 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue declined 5.3% from $71.8M a year earlier and eps declined 75.0% from $0.12.
Where can I find PubMatic's Q3 2025 SEC filings?
You can read the 8-K earnings release (0001422930-25-000048) and the 10-Q periodic report (0001422930-25-000050) directly on SEC EDGAR. The filing index links above go to sec.gov.