PubMatic, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>PubMatic, Inc. has filed its quarterly report (10-Q) for the period ending March 31, 2024, detailing financial information and business operations.</b>

AI Summary

PubMatic, Inc. (PUBM) filed a Quarterly Report (10-Q) with the SEC on May 7, 2024. PubMatic, Inc. filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. The company's principal executive offices are located at 601 Marshall Street, Redwood City, CA 94063. PubMatic, Inc. was incorporated in Delaware. The filing includes financial data for the periods ending March 31, 2024, December 31, 2023, and March 31, 2023.

Why It Matters

For investors and stakeholders tracking PubMatic, Inc., this filing contains several important signals. This 10-Q filing provides investors and analysts with the latest financial performance and operational updates for PubMatic, Inc. during the first quarter of 2024. The detailed financial statements and disclosures within the report are crucial for understanding the company's current financial health, revenue streams, and any potential risks or opportunities.

Risk Assessment

Risk Level: medium — PubMatic, Inc. shows moderate risk based on this filing. The filing is a standard quarterly report, indicating ongoing operational and financial reporting requirements, but lacks specific negative or positive performance indicators within the provided header information.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the full 10-Q filing to assess PubMatic's Q1 2024 performance and future outlook.

Key Numbers

• 2024-03-31 — Period of Report (Quarterly filing)
• 2024-05-07 — Filing Date (Date the report was submitted)
• 2024-01-01 — Quarter Start Date (Beginning of the reporting period)
• 2023-03-31 — Prior Year Quarter End (Comparison period)

Key Players & Entities

• PubMatic, Inc. (company) — Filer name
• PUBM (company) — Ticker symbol
• 2024-03-31 (date) — Period of report
• 2024-05-07 (date) — Filing date
• 601 Marshall Street, Redwood City, CA 94063 (address) — Business address
• Delaware (location) — State of incorporation

FAQ

Industry Context

PubMatic operates in the digital advertising technology industry, providing a cloud-based platform for publishers to manage and monetize their advertising inventory.

Regulatory Implications

As a public company, PubMatic is subject to SEC regulations and reporting requirements, including the filing of quarterly (10-Q) and annual (10-K) reports.

What Investors Should Do

1. Analyze PubMatic's revenue and profitability trends for Q1 2024.
2. Assess any disclosed customer concentration risks and their potential impact.
3. Evaluate the company's liquidity and debt position as detailed in the financial statements.

Year-Over-Year Comparison

This is the initial 10-Q filing for the fiscal year 2024, following the 10-K filing for fiscal year 2023.

Key Financial Figures

• $0.0001 — which registered Class A common stock, $0.0001 par value per share PUBM The Nasdaq Glo

Filing Documents

• pubm-20240331.htm (10-Q) — 967KB
• q12024exhibit311.htm (EX-31.1) — 11KB
• q12024exhibit312.htm (EX-31.2) — 11KB
• q12024exhibit321.htm (EX-32.1) — 6KB
• q12024exhibit322.htm (EX-32.2) — 6KB
• 0001422930-24-000027.txt (&nbsp;) — 5696KB
• pubm-20240331.xsd (EX-101.SCH) — 37KB
• pubm-20240331_cal.xml (EX-101.CAL) — 83KB
• pubm-20240331_def.xml (EX-101.DEF) — 165KB
• pubm-20240331_lab.xml (EX-101.LAB) — 555KB
• pubm-20240331_pre.xml (EX-101.PRE) — 372KB
• pubm-20240331_htm.xml (XML) — 760KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Condensed Consolidated Financial Statements (Unaudited)

Item 1. Condensed Consolidated Financial Statements (Unaudited) 1 Condensed Consolidated Balance Sheets 1 Condensed Consolidated Statements of Operations 2 Condensed Consolidated Statements of Comprehensive Loss 3 Condensed Consolidated Statements of Stockholders' Equity 4 Condensed Consolidated Statements of Cash Flows 5 Notes to Condensed Consolidated Financial Statements 6

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 18

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 29

Controls and Procedures

Item 4. Controls and Procedures 29

- OTHER INFORMATION

PART II - OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 30

Risk Factors

Item 1A. Risk Factors 30

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 33

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 33

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 33

Other Information

Item 5. Other Information 34

Exhibits

Item 6. Exhibits 35

Signatures

Signatures 36 Table of Contents

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS PUBMATIC, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except par values) March 31, 2024 December 31, 2023 (unaudited) ASSETS Current assets Cash and cash equivalents $ 80,194 $ 78,509 Marketable securities 93,887 96,835 Accounts receivable, net 303,284 375,468 Prepaid expenses and other current assets 11,540 11,143 Total current assets 488,905 561,955 Property, equipment and software, net 56,550 60,729 Operating lease right-of-use assets 23,473 21,102 Acquisition-related intangible assets, net 5,469 5,864 Goodwill 29,577 29,577 Deferred tax assets 18,547 13,880 Other assets, non-current 3,669 2,136 TOTAL ASSETS $ 626,190 $ 695,243 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable $ 289,176 $ 347,673 Accrued liabilities 19,763 25,684 Operating lease liabilities, current 6,841 6,236 Total current liabilities 315,780 379,593 Operating lease liabilities, non-current 17,613 15,607 Other liabilities, non-current 4,067 3,844 TOTAL LIABILITIES 337,460 399,044 Commitments and contingencies (Note 8) Stockholders' equity Preferred stock, $ 0.0001 par value per share, 10,000 shares authorized as of March 31, 2024 and December 31, 2023; No shares issued and outstanding as of March 31, 2024 and December 31, 2023 — — Common stock, $ 0.0001 par value per share; 1,000,000 Class A shares authorized as of March 31, 2024 and December 31, 2023; 46,327 shares issued and 41,393 shares outstanding as of March 31, 2024; 45,542 shares issued and 41,502 shares outstanding as of December 31, 2023; 1,000,000 Class B shares authorized as of March 31, 2024 and December 31, 2023; 11,626 shares issued and 8,486 shares outstanding as of March 31, 2024; 11,884 shares issued and 8,744 shares outstanding as of December 31, 2023 6 6 Treasury stock, at cost; 8,074 and 7,180 shares as of March 31, 2024 and December 31, 2023, respectively ( 86,857 ) ( 71,103 ) Additional paid-in capi