{ "ok": true, "cik": "1422930", "ticker": "PUBM", "name": "PUBMATIC, INC.", "filings": [ { "form": "8-K", "filed": "2026-08-12", "items": [ "5.02 Departure or Election of Directors; Appointment of Officers", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1422930/000142293026000032/0001422930-26-000032-index.htm" }, { "form": "10-Q", "filed": "2026-08-06", "items": [], "url": "https://www.sec.gov/Archives/edgar/data/1422930/000142293026000030/0001422930-26-000030-index.htm" }, { "form": "8-K", "filed": "2026-08-06", "items": [ "2.02 Results of Operations and Financial Condition", "5.02 Departure or Election of Directors; Appointment of Officers", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1422930/000142293026000029/0001422930-26-000029-index.htm" }, { "form": "8-K", "filed": "2026-06-03", "items": [ "5.07 Submission of Matters to a Vote of Security Holders" ], "url": "https://www.sec.gov/Archives/edgar/data/1422930/000142293026000026/0001422930-26-000026-index.htm" }, { "form": "10-Q", "filed": "2026-05-07", "items": [], "url": "https://www.sec.gov/Archives/edgar/data/1422930/000142293026000024/0001422930-26-000024-index.htm" }, { "form": "8-K", "filed": "2026-05-07", "items": [ "2.02 Results of Operations and Financial Condition", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1422930/000142293026000023/0001422930-26-000023-index.htm" } ], "events12m": 7, "healthWatch": { "window": "last 12 months", "since": "2025-09-27", "signals": [ { "code": "5.02", "label": "Director or officer change", "count": 3, "latest": { "filed": "2026-08-12", "url": "https://www.sec.gov/Archives/edgar/data/1422930/000142293026000032/0001422930-26-000032-index.htm" } } ], "note": "Events the company itself filed with the SEC, most serious first. Shown beside the figures; they do not change the range or its receipt." }, "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001422930.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1422930" }, "license": "Figures as filed with the SEC. Card text CC BY 4.0, POPS4.", "notAdvice": "Reporting, not investment advice. No price targets and no trading recommendations.", "edgar": "🫧 Edgar looked up PUBMATIC, INC. ($PUBM). Last filing: 8-K (5.02 Departure or Election of Directors; Appointment of Officers), 2026-08-12. 7 event filings (8-K) in the past twelve months.", "auditor": { "changes": [], "nonReliance": [], "restatedSince": null }, "metrics": { "fiscalYearEnd": "2025-12-31", "revenue": 282926000, "revenueGrowth1y": -0.028600269179004045, "revenueGrowthPerYear": 0.05670986764405317, "yearsOfData": 5, "operatingMargin": -0.06100181672946283, "operatingMarginPrior": 0.013482984041530475, "netMargin": -0.05111583947746054, "operatingCashFlow": 81059000, "capitalSpending": 14345000, "freeCashFlow": 66714000, "researchAndDevelopment": 33820000, "researchShareOfRevenue": 0.11953655726232301, "cash": 145518000, "longTermDebt": null, "longTermDebtChange": null, "revenueHistory": [ { "fiscalYearEnd": "2021-12-31", "revenue": 226908000 }, { "fiscalYearEnd": "2022-12-31", "revenue": 256380000 }, { "fiscalYearEnd": "2023-12-31", "revenue": 267014000 }, { "fiscalYearEnd": "2024-12-31", "revenue": 291256000 }, { "fiscalYearEnd": "2025-12-31", "revenue": 282926000 } ], "totalEquity": 262589000, "totalAssets": 680195000, "equityRatio": 0.3860495887208815, "returnOnEquity": -0.05507466040085457, "dividendsPaid": null, "payoutRatio": null, "dividendPerShare": null, "dividendYearsRising": null, "dividendCut": null, "priceBased": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown.", "earningsPerShare": -0.31, "sharesOutstanding": 47008000, "bookValuePerShare": 5.586049183117767, "revenuePerShare": 6.018677671885636, "range80": { "low": 241472313.64863577, "high": 319875554.38164544, "baseline": 283603115.55778956, "n": 4309, "band": "b01", "bandLabel": "$100M–1B", "method": "v4.1", "credibility": 0.5, "growthYears": 4, "ownVolatility": 0.06528722181261411, "classVolatility": 0.1022985825903761, "volatility": 0.08581206596979668 }, "ifPaceHeld": { "low": 241472313.64863577, "high": 319875554.38164544 } }, "edgarette": "🔖 Exposure: revenue $282.9M (FY2025). Experience: revenue down 2.9% on the year, up 5.7% a year over 4 years; operating margin -6.1%, down from 1.3%. Soundness: equity 38.6% of assets, return on equity -5.5%. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $241.5M and $319.9M next year (method v4.1: its own 4-year record of growth weighed at 50% against $100M–1B filers; on a year the method never saw, 83.4% landed inside). In a shock year the stress range is $224.9M to $344.4M. A statistical range, not company guidance. Against peers (40 filers, $50M+ revenue, services-computer programming, data processing, etc.): operating margin -6.1% against a 2.9% median; growth -2.9% against 5.7%.", "peers": { "sic": 7370, "sicDescription": "Services-Computer Programming, Data Processing, Etc.", "calendarYear": 2025, "minRevenue": 50000000, "depth": 4, "group": "7370", "growth": [ 0.0568, 39 ], "opMargin": [ 0.0291, 40 ], "equityRatio": [ 0.4464, 38 ], "returnOnEquity": [ 0.0457, 30 ] }, "summary": "Pubmatic (PUBM) saw revenue fall 2.9% in FY2025 to $283 million, operating margin -6.1% against a 2.9% median for services-computer programming, data processing, etc., equity 38.6% of assets. Every figure is from the company’s own annual report filed with the SEC.", "chart": "
PUBMATIC, INC. against its own record and its peers
Operating marginPeer median 2.9%-6.1%Revenue, on the yearPeer median 5.7%-2.9%Equity of assetsPeer median 44.6%38.6%Return on equityPeer median 4.6%-5.5%Gold tick: the median of 30–38 peers with $50M+ revenue in services-computer programming, data processing, etc.
", "chartHorizon": null, "backtest": { "tests": 3, "hits": 3, "rate": 1, "method": "v4", "byYear": { "2023": [ 1, 1 ], "2024": [ 1, 1 ], "2025": [ 1, 1 ] }, "note": "hindsight: the same credibility-weighted range on the company's own past years. Years 2018-2023 were used to fit or tune the method, so only 2025 outcomes are fully out of sample." }, "registry": { "logged": "2026-09-27T19:38:05.261Z", "hash": "c75ea857f5ee80b2", "status": "open" }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "schema": "pops4.edgarette.card/1", "card": { "summary": "Pubmatic (PUBM) saw revenue fall 2.9% in FY2025 to $283 million, operating margin -6.1% against a 2.9% median for services-computer programming, data processing, etc., equity 38.6% of assets. Every figure is from the company’s own annual report filed with the SEC.", "exposure": { "fiscalYearEnd": "2025-12-31", "revenue": 282926000, "totalDebt": null, "cash": 145518000 }, "experience": { "revenueGrowth1y": -0.028600269179004045, "revenueGrowthPerYear": 0.05670986764405317, "operatingMargin": -0.06100181672946283, "operatingMarginPrior": 0.013482984041530475, "netMargin": -0.05111583947746054, "freeCashFlow": 66714000 }, "soundness": { "equityRatio": 0.3860495887208815, "returnOnEquity": -0.05507466040085457, "payoutRatio": null, "dividendPerShare": null, "dividendYearsRising": null, "dividendCut": null, "note": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown." }, "peers": { "sic": 7370, "sicDescription": "Services-Computer Programming, Data Processing, Etc.", "calendarYear": 2025, "minRevenue": 50000000, "depth": 4, "group": "7370", "growth": [ 0.0568, 39 ], "opMargin": [ 0.0291, 40 ], "equityRatio": [ 0.4464, 38 ], "returnOnEquity": [ 0.0457, 30 ] }, "credibility": { "auditedYears": 5, "weight": "reasonable", "standard": "ASOP No. 25", "nonReliance": null, "auditorChange": null }, "healthWatch": { "window": "last 12 months", "since": "2025-09-27", "signals": [ { "code": "5.02", "label": "Director or officer change", "count": 3, "latest": { "filed": "2026-08-12", "url": "https://www.sec.gov/Archives/edgar/data/1422930/000142293026000032/0001422930-26-000032-index.htm" } } ], "note": "Events the company itself filed with the SEC, most serious first. Shown beside the figures; they do not change the range or its receipt." }, "range": { "low": 241472313.64863577, "high": 319875554.38164544, "baseline": 283603115.55778956, "coverage": 0.8, "method": "v4.1", "basis": "next fiscal year revenue: baseline = revenue x (1 + mean of one-year and three-year pace); width = the company's own volatility of yearly growth, credibility-weighted against its size class (Buhlmann), scaled to the 80% target on 2023 and tested on 2024", "calibratedOn": { "companyYears": 4309, "sizeBand": "$100M–1B", "fitYears": [ 2018, 2022 ], "tuneYear": 2023, "testYear": 2024, "coverageOnTestYear": 0.8341 }, "credibility": { "weightOnOwnRecord": 0.5, "growthYears": 4, "ownVolatility": 0.06528722181261411, "classVolatility": 0.1022985825903761, "pricedVolatility": 0.08581206596979668, "k": 3 }, "stress": { "low": 224892256.16628054, "high": 344440840.0672154, "basis": "the same range with widths set to hold 80% across 2018-2023, pandemic years included" }, "kind": "a statistical range, not company guidance; no view on the share price", "track": { "backtest": { "tests": 3, "hits": 3, "rate": 1, "method": "v4", "byYear": { "2023": [ 1, 1 ], "2024": [ 1, 1 ], "2025": [ 1, 1 ] }, "note": "hindsight: the same credibility-weighted range on the company's own past years. Years 2018-2023 were used to fit or tune the method, so only 2025 outcomes are fully out of sample." }, "registry": { "logged": "2026-09-27T19:38:05.261Z", "hash": "c75ea857f5ee80b2", "status": "open" }, "scorecard": "https://www.pops4.com/boards/scorecard" } }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001422930.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1422930" }, "speedCash": { "fiscalYear": 2025, "cashConversion": 0.2865, "growth3y": 0.0334, "volatility": 0.0653, "paysDividend": false, "raisedDividend": false, "equityRatio": 0.386, "quadrant": { "code": "ss", "label": "Slow and steady", "plain": "growing slower than its size class, with steadier revenue" }, "compass": { "code": "between", "inside": "Turns 28.6% of revenue into operating cash; revenue growing 3.3% a year over three years; no common dividend.", "outside": "Among $100M-1B companies: 81st percentile for cash, 43rd for growth.", "emoji": "🌊", "label": "In between", "plain": "no clear cash pattern yet" }, "band": "$100M-1B", "cashPctInClass": 81, "growthPctInClass": 43, "source": "SEC XBRL frames, the company’s own audited figures; quadrant split at the median of its size class" }, "harbor": { "signs": [], "rule": "Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider.", "level": 0, "name": "New ship", "plain": "no warning signs" }, "cashFlow": { "fiscalYearEnd": "2025-12-31", "operating": 81059000, "investing": 6072000, "financing": -42731000, "capitalSpending": 14345000, "free": 66714000, "trend": [ { "fiscalYearEnd": "2021-12-31", "operating": 88681000, "free": 58249000 }, { "fiscalYearEnd": "2022-12-31", "operating": 87212000, "free": 51343000 }, { "fiscalYearEnd": "2023-12-31", "operating": 81121000, "free": 70520000 }, { "fiscalYearEnd": "2024-12-31", "operating": 73425000, "free": 55833000 }, { "fiscalYearEnd": "2025-12-31", "operating": 81059000, "free": 66714000 } ], "note": "Annual, as filed in 10-K cash flow statements; negative investing/financing = cash going out (capital spending, buybacks, dividends, debt repaid)." }, "investments": { "fiscalYearEnd": "2025-12-31", "cash": 145518000, "shortTerm": 0, "longTerm": null, "equityHoldings": null, "totalAssets": 680195000, "ladder": null, "currentRatio": 1.39, "unrealizedGain": null, "unrealizedLoss": null, "note": "Balance-sheet cash and investment securities at fiscal year end, as filed; short-term = due or saleable within a year. Insurers and banks hold most of their book here." } }, "definitions": { "operatingMargin": "Operating income divided by revenue.", "netMargin": "Net income divided by revenue.", "freeCashFlow": "Cash from operations minus spending on property and equipment.", "researchShareOfRevenue": "Research and development expense for the year as a share of revenue, both as filed.", "equityRatio": "Shareholders equity as a share of total assets, both as filed. Higher means less of the company is owed to someone else.", "returnOnEquity": "Net income for the year against shareholders equity at year end.", "payoutRatio": "Dividends paid as a share of net income, in the year the cash went out.", "dividendYearsRising": "Consecutive years, counted back from the last on record, in which dividend per share rose. A fall ends the run and is reported as dividendCut.", "revenueGrowthPerYear": "Compound annual growth between the first and latest fiscal years shown.", "credibility": "How much weight a record deserves, in the actuarial sense (ASOP No. 25): more audited years, more weight.", "peers": "Medians of SEC filers with $50M+ revenue in the same industry code (SIC), narrowest group with at least 8 filers, calendar-year figures from SEC XBRL frames.", "backtest": "The same range method applied to the company's own past years, scored against what it actually reported next. Hindsight, and labelled so.", "healthWatch": "Distress-type events the company filed in the last 12 months (late-filing notices; 8-K items 1.03, 3.01, 2.04, 4.02, 4.01, 2.05, 2.06, 1.05, 5.02), each with its count and newest filing. Display only: they do not change the range or its receipt." }, "speedCash": { "fiscalYear": 2025, "cashConversion": 0.2865, "growth3y": 0.0334, "volatility": 0.0653, "paysDividend": false, "raisedDividend": false, "equityRatio": 0.386, "quadrant": { "code": "ss", "label": "Slow and steady", "plain": "growing slower than its size class, with steadier revenue" }, "compass": { "code": "between", "inside": "Turns 28.6% of revenue into operating cash; revenue growing 3.3% a year over three years; no common dividend.", "outside": "Among $100M-1B companies: 81st percentile for cash, 43rd for growth.", "emoji": "🌊", "label": "In between", "plain": "no clear cash pattern yet" }, "band": "$100M-1B", "cashPctInClass": 81, "growthPctInClass": 43, "source": "SEC XBRL frames, the company’s own audited figures; quadrant split at the median of its size class" }, "harbor": { "signs": [], "rule": "Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider.", "level": 0, "name": "New ship", "plain": "no warning signs" }, "cashFlow": { "fiscalYearEnd": "2025-12-31", "operating": 81059000, "investing": 6072000, "financing": -42731000, "capitalSpending": 14345000, "free": 66714000, "trend": [ { "fiscalYearEnd": "2021-12-31", "operating": 88681000, "free": 58249000 }, { "fiscalYearEnd": "2022-12-31", "operating": 87212000, "free": 51343000 }, { "fiscalYearEnd": "2023-12-31", "operating": 81121000, "free": 70520000 }, { "fiscalYearEnd": "2024-12-31", "operating": 73425000, "free": 55833000 }, { "fiscalYearEnd": "2025-12-31", "operating": 81059000, "free": 66714000 } ], "note": "Annual, as filed in 10-K cash flow statements; negative investing/financing = cash going out (capital spending, buybacks, dividends, debt repaid)." }, "investments": { "fiscalYearEnd": "2025-12-31", "cash": 145518000, "shortTerm": 0, "longTerm": null, "equityHoldings": null, "totalAssets": 680195000, "ladder": null, "currentRatio": 1.39, "unrealizedGain": null, "unrealizedLoss": null, "note": "Balance-sheet cash and investment securities at fiscal year end, as filed; short-term = due or saleable within a year. Insurers and banks hold most of their book here." } }