Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|
| Revenue | $114M | $149M | $227M | $256M | $267M | $291M | $283M |
| Revenue growth | — | 30.6% | 52.5% | 13.0% | 4.1% | 9.1% | -2.9% |
| Gross profit | $77.8M | $108M | $169M | $175M | $168M | $190M | $180M |
| Gross margin | 68.3% | 72.3% | 74.3% | 68.2% | 62.8% | 65.3% | 63.6% |
| Operating income | $8.51M | $31.8M | $58.8M | $40.5M | $2.04M | $3.93M | -$17.3M |
| Operating margin | 7.5% | 21.3% | 25.9% | 15.8% | 0.8% | 1.3% | -6.1% |
| Net income | $6.64M | $26.6M | $56.6M | $28.7M | $8.88M | $12.5M | -$14.5M |
| Net margin | 5.8% | 17.9% | 24.9% | 11.2% | 3.3% | 4.3% | -5.1% |
| EPS (diluted) | $0.04 | $0.46 | $1.00 | $0.50 | $0.16 | $0.23 | -$0.31 |
| Fiscal year | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | $35.1M | $24.3M | $88.7M | $87.2M | $81.1M | $73.4M | $81.1M |
| Capital expenditures | $9.55M | $24.2M | $30.4M | $35.9M | $10.6M | $17.6M | $14.3M |
| Free cash flow | $25.6M | $153K | $58.2M | $51.3M | $70.5M | $55.8M | $66.7M |
| Share buybacks | $5.00K | $3.00K | $52.0K | $0.00 | $59.3M | $75.3M | $46.5M |
| Fiscal year | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|
| Cash & equivalents | $34.3M | $81.2M | $82.5M | $92.4M | $78.5M | $100M | $146M |
| Total assets | — | $371M | $550M | $642M | $695M | $740M | $680M |
| Total liabilities | — | $196M | $293M | $330M | $399M | $462M | $418M |
| Shareholders' equity | $13.3M | $175M | $257M | $312M | $296M | $277M | $263M |
| Retained earnings | — | $42.7M | $99.3M | $128M | $137M | $149M | $135M |
| Shares (wtd avg diluted) | 12.2M | 17.1M | 56.6M | 56.9M | 56.0M | 54.3M | 47.0M |
Every figure is extracted from PubMatic, Inc.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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