PubMatic, Inc. reported its financial results for the second quarter of 2025, revealing a revenue increase of 6% to $71.1 million compared to $67.3 million in the same period last year. For the first half of 2025, revenue rose slightly by 1% to $134.9 million from $134.0 million in the prior year. Despite the revenue growth, the company experienced a net loss of $5.2 million for the quarter, a significant decline from a net income of $2.0 million in Q2 2024. The loss for the first half of 2025 was $14.7 million, compared to a loss of $0.5 million in the same period last year.
The company's operating expenses increased to $49.9 million for the second quarter, up from $46.1 million in the prior year, driven primarily by higher sales and marketing costs, which rose by 9% to $25.2 million. Technology and development expenses also saw an increase of 5% to $9.1 million. The gross profit margin remained stable at 63% for the second quarter, although the gross profit for the first half of 2025 decreased slightly to $82.7 million from $83.4 million in 2024.
In terms of operational metrics, PubMatic served approximately 1,960 publishers and app developers as of June 30, 2025, an increase from about 1,800 in the previous year. The company processed around 854 billion ad impressions daily in June 2025, reflecting its ongoing investment in infrastructure and technology. However, the net dollar-based retention rate declined to 102% for the trailing twelve months ended June 30, 2025, down from 108% a year earlier, indicating a potential challenge in maintaining revenue from existing customers.
Looking ahead, PubMatic anticipates that macroeconomic conditions may impact its revenue for the remainder of 2025, particularly due to recent changes implemented by a major demand-side platform (DSP) buyer. The company has also been actively repurchasing shares, with $96.8 million remaining under its stock repurchase program as of June 30, 2025. Despite the challenges, PubMatic remains focused on expanding its customer base and enhancing its product offerings to drive future growth.
About PubMatic, Inc.
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