PubMatic Inc. (PUBM) shares soared 23.01% in after-hours on Tuesday, November 9, 2021, and closed the daily trading at $39.50. Even in the regular trading session, PUBM’s stock gained 7.39%. PUBM shares have moved up 11.84% in the past week. Over the past three months, the stock has lost 7.22%, while over the past six months, it has declined 15.30%.
Let’s have a look at its recent news and developments.
PUBM latest development
On November 09, 2021, PubMatic, Inc. (PUBM) reported financial results for the third quarter ending September 30, 2021.
Q3 2021 financial highlights
- PUBM reported total revenue of $58.1 million in Q3 2021 compared to $37.8 million in the same period of 2020.
- Total operating expenses were $28.0 million in Q3 2021 compared to $19.5 million in Q3 2020.
- PubMatic earned GAAP net income of $13.5 million, or $0.24 per diluted share in the third quarter of 2021 compared to net income of $6.2 million, or $0.10 per diluted share in Q3 2020.
- Adjusted EBITDA was $24.3 million in Q3 2021 compared to adjusted EBITDA of $13.4 million in the third quarter of 2020.
- As of September 30, 2021, the company had total cash, cash equivalents, and marketable securities of $136.7 million with no debt.
Q4 2021 financial outlook
For Q4, 2021, the company is expecting
- Revenue in the range of $74 million to $76 million.
- Adjusted EBITDA in the range of $28 million to $30 million.
FY 2021 financial outlook
For the full year 2021, the company raised its outlook and is now expecting,
- Revenue in the range of $225 million to $227 million.
- Adjusted EBITDA in the range of $86 million to $88 million.
PUBM and Semasio Partnership Expansion
On October 20, 2021, PubMatic (PUBM) expanded its partnership with Semasio which will enable media buyers to increase audience addressability at a user- and page level. Semasio’s audience and contextual segments can now be activated directly in PubMatic’s sell-side platform for rapid, precision targeting.
Nielsen collaboration with PUBM
On September 14, 2021, Nielsen and PubMatic (PUBM) signed an agreement according to which Nielsen’s audience data is now available through PubMatic’s Audience Encore™, permitting advertisers to buy premium omnichannel inventory layered with quality data for precision targeting and better performance.
This collaboration will expand PubMatic’s strategy to offer advertisers a holistic, privacy forward approach to leveraging premium audience data for effective targeting in the future without third-party cookies.
Conclusion
The recent Q3 2021 financial results were the reason behind its exceptional performance on Tuesday and we can expect it to continue its positive performance on Wednesday as well.
