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 Operations
(In thousands, except per share data)
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Revenue | $67,960 | $71,786 | $202,880 | $205,754 |
| Cost of revenue | 25,403 | 25,508 | 77,603 | 76,092 |
| Gross profit | 42,557 | 46,278 | 125,277 | 129,662 |
| Operating expenses: | ||||
| Technology and development | 9,616 | 8,813 | 27,504 | 25,432 |
| Sales and marketing | 25,732 | 23,696 | 77,731 | 71,606 |
| General and administrative | 15,628 | 15,134 | 45,825 | 43,499 |
| Total operating expenses | 50,976 | 47,643 | 151,060 | 140,537 |
| Operating loss | (8,419) | (1,365) | (25,783) | (10,875) |
| Interest income | 1,198 | 1,969 | 4,170 | 6,873 |
| Other income (expense), net | (937) | (930) | (3,939) | 3,356 |
| Loss before income taxes | (8,158) | (326) | (25,552) | (646) |
| Provision for (benefit from) income taxes | (1,706) | 586 | (4,406) | 749 |
| Net loss | $(6,452) | $(912) | $(21,146) | $(1,395) |
| Basic and diluted net loss per share of Class A and Class B stock | $(0.14) | $(0.02) | $(0.45) | $(0.03) |
| Weighted-average shares used to compute net loss per share attributable to common stockholders - basic and diluted | 45,933 | 49,056 | 47,146 | 49,623 |
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