What is PubMatic's net margin?

PubMatic (PUBM) reported net margin of -2.5% in Q3 2025.

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

PubMatic's net margin decreased by 142.2% year-over-year, from 6% to -2.5%.

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

Over 4 years (2020 to 2024), PubMatic's net margin has grown at a -30.0% compound annual growth rate (CAGR), from 17.9% to 4.3%.

What does net margin mean?

Net income as a percentage of revenue (trailing twelve months). The bottom-line profitability measure after all costs, interest, and taxes.

PubMatic PUBM Net margin

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——

Other financials

Income statement

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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

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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

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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$534.56M-0.1%

Enterprise value$432.37M-9.6%

P/S1.9×0.0×

Profitability

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Gross margin63.2%-1.7pp

Operating margin-3.8%-7.1pp

FCF margin24.8%+8.7pp

Returns & leverage

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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.

net income/total revenue=-2.5%

Based on trailing twelve months.

The official record: PubMatic’s 10-Q, filed November 10, 2025, on SEC EDGAR. View the filing →

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Questions, answered.

What is PubMatic's net margin?: PubMatic (PUBM) reported net margin of -2.5% in Q3 2025.
How has PubMatic's net margin changed year-over-year?: PubMatic's net margin decreased by 142.2% year-over-year, from 6% to -2.5%.
What is the long-term trend for PubMatic's net margin?: Over 4 years (2020 to 2024), PubMatic's net margin has grown at a -30.0% compound annual growth rate (CAGR), from 17.9% to 4.3%.
What does net margin mean?: Net income as a percentage of revenue (trailing twelve months). The bottom-line profitability measure after all costs, interest, and taxes.