NASDAQ$PUBM
PUBMATIC INC-CLASS A · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
PubMatic's Q1 2024 financial results were announced, demonstrating accelerated revenue growth and exceeding expectations.
PubMatic reported a record first quarter with revenue growth of 20% year-over-year, exceeding guidance. The company's adjusted EBITDA more than doubled, and free cash flow tripled compared to Q1 2023.
- Revenue increased by 20% year-over-year, reaching $66.7 million.
- Adjusted EBITDA surged to $15.1 million, representing a 23% margin.
- Supply Path Optimization (SPO) accounted for 50% of total activity.
- Free cash flow tripled compared to Q1 2023, reaching $16.3 million.
Headline financials
Revenue & EPS history
PubMatic · Revenue · Quarterly
$66.7M
Revenue by segment
PubMatic · $21M total across 1 segment · Q3 2023
- Omnichannel Video$21M—100.0%
Forward guidance
PubMatic provided guidance for Q2 2024 and raised full-year 2024 revenue and adjusted EBITDA guidance, anticipating continued growth across ad formats, channels, and regions.
Tailwinds
- Revenue for Q2 2024 is expected to be between $69 million and $71 million.
- Adjusted EBITDA for Q2 2024 is projected to be in the range of $17 million to $19 million.
- Full year revenue is expected to be between $296 million and $304 million, representing approximately 12% growth.
- Full year adjusted EBITDA is projected to be in the range of $90 million to $94 million.
- Free cash flow is expected to be in line with 2023.
Headwinds
- Anticipated headwind as one of the top DSPs plans to revise its bidding approach.
- Guidance assumes that general market conditions do not significantly deteriorate as it relates to current macroeconomic and geopolitical conditions.
- CapEx to be in the range of $16 million – $18 million.
- The company is not able to provide guidance for net income, the most directly comparable GAAP measure.
- Certain elements of the composition of GAAP net income, including stock-based compensation expenses, are not predictable, making it impractical for us to provide guidance on net income or to reconcile our adjusted EBITDA guidance to net income without unreasonable efforts.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
+2.6%
Avg return
Earnings day
+3.2%
Avg return
5 days after
+3.5%
Avg return
30 days after
52%
12 / 23 earnings
Positive
+43.5%
Q3 2025
Best reaction
-36.0%
Q2 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.9% | -3.6% | +13.9% | |
| Q4 2025 | +14.7% | +23.5% | +15.8% | |
| Q3 2025 | +43.5% | +23.3% | +22.0% | |
| Q1 2025 | +1.1% | +6.5% | +9.6% | |
| Q4 2024 | -23.9% | -23.3% | -33.6% | |
| Q3 2024 | -0.7% | -9.1% | +1.0% | |
| Q2 2024 | -25.8% | -25.4% | -23.5% | |
| Q1 2024 | -4.0% | -4.4% | -9.3% | |
| Q4 2023 | +25.2% | +28.8% | +42.2% | |
| Q3 2023 | +24.5% | +23.8% | +42.3% | |
| Q2 2023 | -36.0% | -30.8% | -30.2% | |
| Q1 2023 | +13.4% | +21.5% | +49.8% | |
| Q4 2022 | -7.6% | -10.2% | -11.0% | |
| Q3 2022 | -14.0% | +0.4% | -15.6% | |
| Q2 2022 | +26.1% | +34.0% | +8.6% | |
| Q1 2022 | -10.1% | +3.0% | -5.4% | |
| Q4 2019 | -22.6% | -29.1% | -14.6% | |
| Q4 2021 | -13.0% | -25.5% | -7.6% | |
| Q3 2020 | +24.3% | +19.3% | +20.3% | |
| Q3 2021 | +17.2% | +31.8% | +29.3% | |
| Q2 2021 | +10.2% | -5.6% | -7.7% | |
| Q1 2021 | -10.8% | -12.9% | -13.9% | |
| Q4 2020 | +27.6% | +37.2% | -2.1% | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — | |
| Q3 2019 | — | — | — |
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