What is PubMatic's net debt?

PubMatic (PUBM) reported net debt of -$102.19M in Q1 2026.

How has PubMatic's net debt changed year-over-year?

PubMatic's net debt decreased by 81.0% year-over-year, from -$56.47M to -$102.19M.

What is the long-term trend for PubMatic's net debt?

Over 5 years (2020 to 2025), PubMatic's net debt has grown at a 5.3% compound annual growth rate (CAGR), from -$78.09M to -$101.31M.

What does net debt mean?

Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

PubMatic PUBM Net debt

Discontinued — last reported Q1 '26

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Other financials

Income statement

See full

Revenue$62.6M-2.0%

Gross profit$36.5M-4.6%

Operating income-$15.3M-28.3%

Net income-$12.5M-31.9%

EPS (diluted)-$0.27-35.0%

Balance sheet

See full

Cash & equivalents$144.9M+42.3%

Total debt$42.7M-5.8%

Total equity$251.0M-8.9%

Total assets$659.4M-1.4%

Cash flow

See full

Operating cash flow$17.3M+10.7%

CapEx$11.0K-99.2%

Free cash flow$17.3M+21.9%

Valuation

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Market cap$609.34M+13.3%

Enterprise value$507.15M+3.3%

P/S2.2×+0.3×

Profitability

See full

Gross margin63.2%-1.7pp

Operating margin-3.8%-7.1pp

Net margin-2.5%-8.5pp

FCF margin24.8%+8.7pp

Returns & leverage

See full

Return on equity-2.9%-9.1pp

Debt / equity0.2×0.0×

Current ratio1.4×-0.1×

Where this comes from

Calculated from PubMatic’s reported figures.

$42.7Mtotal debt−$144.9Mcash and equivalents=-$102.19M

The official record: PubMatic’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is PubMatic's net debt?: PubMatic (PUBM) reported net debt of -$102.19M in Q1 2026.
How has PubMatic's net debt changed year-over-year?: PubMatic's net debt decreased by 81.0% year-over-year, from -$56.47M to -$102.19M.
What is the long-term trend for PubMatic's net debt?: Over 5 years (2020 to 2025), PubMatic's net debt has grown at a 5.3% compound annual growth rate (CAGR), from -$78.09M to -$101.31M.
What does net debt mean?: Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.