PubMatic, Inc. Class A Common Stock

Turns out ad-tech isn't dead.
- Revenue (beat) - $63M (+27% YoY)
- Non-GAAP EPS (beat) - $0.23
- Net dollar-based retention rate - 130% (notably lower than Q2 2021)
- Adjusted EBITDA - $23M (37% margin unchanged from a year ago)
- Net cash from operating activities down slightly ($20.5M vs $21.1M Q2 2021)
- Cash - $183M (no debt)
- 79% growth in impressions (48% reduction in cost of revenue per million impression since Q2 2020)
- 150% growth in CTV revenue
- SPO activity up to 30% of total activity (compared to 24% a year ago)

Pubmatic did lower guidance slightly, but FY is still somewhat in-line. Here's the projected outlook per geography:
- European demand softening somewhat
- APAC unchanged, still low ad spend
- Americas spending kind of soft but stable

Results were good and guidance was fairly positive as well. My thinking is that $PUBM could still see growing headwinds IF the global economic conditions worsen. Whatever the case, pretty good resilience here.

$PUBM Earnings

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