PubMatic, Inc. (PUBM) Financial Statements — Income, Balance Sheet, Cash Flow

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Financial Statements — PUBM

Balance Sheet

(in millions USD)

Metric	Q2 2026	Q1 2026	Q3 2025	Q2 2025	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022	Q2 2022	Q1 2022	Q3 2021	Q2 2021	Q1 2021
Cash & Equivalents	119.97	144.88	136.55	90.48	101.81	78.91	73.52	80.19	97.73	105.54	79.26	52.18	51.89	74.47	89.38	90.62	76.65
Accounts Receivable	383.20	336.90	362.59	383.40	349.12	376.79	351.59	303.28	291.39	258.01	253.01	277.27	263.97	218.36	228.39	195.43	173.07
Total Current Assets	537.87	504.18	520.45	512.96	505.27	529.81	531.97	488.91	474.37	443.24	440.35	458.24	460.08	404.87	378.09	331.59	291.11
Property, Plant & Equipment	58.53	50.14	51.40	51.58	54.39	63.25	60.14	56.55	61.92	65.66	68.55	74.97	64.10	46.79	51.93	43.60	33.96
Goodwill	29.58	29.58	29.58	29.58	29.58	29.58	29.58	29.58	29.58	29.58	29.58	29.83	6.25	6.25	6.25	6.25	6.25
Intangible Assets	1.91	2.31	3.10	3.49	3.89	4.68	5.07	5.47	6.26	6.65	7.05	8.82	--	--	--	--	--
Total Non-current Assets	93.05	86.41	91.39	93.47	96.96	97.69	82.05	80.02	83.68	88.97	93.39	102.71	64.10	46.79	51.93	43.60	33.96
Total Assets	700.04	659.44	676.19	675.22	668.60	689.14	673.10	626.19	612.99	583.67	577.47	602.16	570.23	497.61	438.85	383.78	333.47
Accounts Payable	390.05	342.64	356.47	361.37	323.61	360.70	340.79	289.18	273.17	240.07	222.58	258.48	237.41	186.01	195.33	162.58	136.00
Total Current Liabilities	422.12	368.86	388.42	388.74	350.16	392.77	370.12	315.78	303.87	268.78	247.60	278.96	255.43	200.56	212.99	176.36	145.25
Total Non-current Liabilities*	39.20	39.58	42.71	43.19	42.84	33.17	20.25	21.68	20.55	20.36	23.51	30.60	30.89	29.35	5.01	5.34	4.13
Total Liabilities	461.31	408.44	431.13	431.94	393.00	425.94	390.37	337.46	324.41	289.14	271.11	309.56	286.32	229.90	218.01	181.70	149.38
Retained Earnings	121.21	122.41	128.24	134.69	139.90	135.49	136.40	134.43	118.18	116.41	122.13	115.22	111.89	104.07	71.06	57.53	47.61
Total Stockholder Equity	238.73	251.00	245.06	243.28	275.60	263.20	282.73	288.73	288.57	294.53	306.36	292.60	283.92	267.71	220.84	202.08	184.09

* Derived from reported values

Income Statement

(in millions USD) (except per-share rows)

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022	Q4 2021	Q3 2021
Total Revenue	78.59	62.57	80.05	67.96	71.10	63.83	85.50	71.79	67.27	66.70	84.60	63.68	63.33	55.41	74.30	64.50	63.03	54.55	75.56	58.09
Cost of Revenue	25.88	26.09	25.48	25.40	26.61	25.59	24.94	25.51	25.16	25.42	24.21	26.09	25.07	23.86	22.96	21.59	18.97	17.99	16.91	16.02
Gross Profit	52.72	36.47	54.56	42.56	44.48	38.24	60.57	46.28	42.11	41.28	60.39	37.59	38.26	31.54	51.34	42.91	44.06	36.56	58.65	42.07
Research & Development	9.15	7.99	6.32	9.62	9.12	8.77	7.83	8.81	8.66	7.96	6.85	6.63	6.73	6.52	5.92	5.08	5.08	4.77	4.15	4.14
Selling, General & Admin	16.86	14.80	14.52	15.63	15.63	14.57	14.17	15.13	14.34	14.03	12.78	12.01	18.86	12.57	11.09	12.12	10.98	10.75	10.17	8.88
Total Operating Expenses	52.14	51.75	46.04	50.98	49.94	50.14	45.77	47.64	46.09	46.80	39.98	38.16	45.40	42.22	34.82	33.29	34.26	31.98	30.69	28.02
Operating Income	0.58	(15.27)	8.52	(8.42)	(5.46)	(11.90)	14.80	(1.36)	(3.98)	(5.52)	20.41	(0.57)	(7.13)	(10.67)	16.52	9.62	9.79	4.58	27.97	14.05
Pretax Income	1.88	(15.11)	9.60	(8.16)	(6.07)	(11.32)	18.42	(0.33)	2.38	(2.70)	23.05	1.89	(5.18)	(9.25)	16.82	4.72	9.75	6.18	33.74	14.33
Tax Provision	3.08	(2.60)	2.91	(1.71)	(0.86)	(1.84)	4.52	0.59	0.41	(0.25)	4.34	0.11	0.55	(3.37)	4.03	1.40	1.93	1.40	5.50	0.80
Net Income	(1.20)	(12.51)	6.68	(6.45)	(5.21)	(9.49)	13.90	(0.91)	1.97	(2.45)	18.70	1.77	(5.72)	(5.87)	12.78	3.33	7.82	4.78	28.24	13.53
Basic EPS	(0.03)	(0.27)	0.14	(0.14)	(0.11)	(0.20)	0.28	(0.02)	0.04	(0.05)	0.36	0.03	(0.11)	(0.11)	0.25	0.06	0.15	0.09	0.56	0.27
Diluted EPS	(0.03)	(0.27)	0.14	(0.14)	(0.11)	(0.20)	0.26	(0.02)	0.04	(0.05)	0.35	0.03	(0.11)	(0.11)	0.22	0.06	0.14	0.08	(89.42)	0.24

Cash Flow Statement

(in millions USD)

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022	Q4 2021	Q3 2021
Operating Cash Flow	20.21	17.30	18.16	32.37	14.91	15.62	18.05	19.14	11.94	24.29	28.67	23.85	15.85	12.75	19.36	28.07	20.47	19.31	28.48	26.44
Capital Expenditures	2.96	0.01	6.89	4.67	1.34	1.44	4.32	11.73	0.74	0.80	5.18	2.87	1.14	1.42	8.91	14.58	12.24	0.15	7.59	11.04
Free Cash Flow*	17.26	17.28	11.27	27.70	13.57	14.18	13.72	7.41	11.21	23.49	23.50	20.97	14.71	11.34	10.45	13.50	8.23	19.17	20.89	15.40
Investing Cash Flow	(24.48)	(9.59)	(11.31)	17.51	9.94	(10.07)	12.67	15.52	(2.00)	(3.87)	(31.31)	(13.89)	24.45	(18.26)	20.18	(27.98)	(45.77)	(27.80)	(39.60)	(28.93)
Financing Cash Flow	(20.58)	(8.06)	2.17	(3.71)	(36.72)	(4.47)	(8.86)	(29.26)	(16.61)	(18.74)	(16.58)	(17.76)	(14.02)	(7.61)	0.66	0.19	2.73	0.45	4.25	1.25

* Derived from reported values