PubMatic, Inc.
For the period ended Sep 30, 2025. Filed Nov 10, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 10, 2025
PUBM$16.96-10.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
| Nine Months Ended September 30, | ||
|---|---|---|
| 2025 | 2024 | |
| CASH FLOW FROM OPERATING ACTIVITIES: | ||
| Net loss | $(21,146) | $(1,395) |
| Adjustments to reconcile net loss to net cash provided by operating activities: | ||
| Depreciation and amortization | 33,996 | 33,931 |
| Stock-based compensation | 29,010 | 28,267 |
| Deferred income taxes | (11,772) | (10,831) |
| Accretion of discount on marketable securities | (822) | (3,552) |
| Non-cash operating lease expense | 5,528 | 5,098 |
| Other | (864) | (78) |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 62,223 | (1,322) |
| Prepaid expenses and other assets | (2,221) | (1,554) |
| Accounts payable | (29,981) | 8,841 |
| Accrued liabilities | 429 | 2,259 |
| Operating lease liabilities | (1,912) | (4,741) |
| Other liabilities, non-current | 432 | 454 |
| Net cash provided by operating activities | 62,900 | 55,377 |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Purchases of property and equipment | (7,455) | (13,268) |
| Capitalized software development costs | (16,094) | (16,068) |
| Purchases of marketable securities | (26,026) | (117,977) |
| Proceeds from sales of marketable securities | 27,095 | — |
| Proceeds from maturities of marketable securities | 39,859 | 156,958 |
| Net cash provided by investing activities | 17,379 | 9,645 |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Payment of business combination indemnification claims holdback | — | (2,148) |
| Proceeds from issuance of common stock for the 2020 Employee Stock Purchase Plan | 1,357 | 1,451 |
| Proceeds from exercise of stock options | 1,495 | 1,578 |
| Principal payments on finance lease obligations | (105) | (98) |
| Payments to acquire treasury stock | (47,650) | (65,400) |
| Net cash used in financing activities | (44,903) | (64,617) |
| NET INCREASE IN CASH AND CASH EQUIVALENTS | 35,376 | 405 |
| Effect of foreign exchange rates on cash and cash equivalents | 720 | — |
| CASH AND CASH EQUIVALENTS - Beginning of period | 100,452 | 78,509 |
| CASH AND CASH EQUIVALENTS - End of period | $136,548 | $78,914 |
| SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ||
| Income taxes paid | $8,285 | $10,332 |
| SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING INFORMATION: | ||
| Stock-based compensation capitalized as internal-use software costs | $2,623 | $2,298 |
| Property and equipment included in accounts payable and accrued liabilities | $436 | $4,270 |
| Capitalized software costs included in accounts payable and accrued liabilities | $1,757 | $2,530 |
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