PubMatic announces record results for Q4 and FY 2020
PubMatic, a sell-side platform that enables independent app developers and publishers to maximize their digital advertising business, has reported record financial results for the fourth quarter and full-year 2020. Revenue in the fourth quarter of 2020 stood at $56.2 million, which is an increase of 64% over $34.4 million in the same period of 2019.
PubMatic witnessed a net income of $18.8 million, or $0.34 per diluted share in the fourth quarter, an increase over net income of $4.1 million, or $0.06 per diluted share in the same period of 2019.
Adjusted EBITDA was $26.9 million, a massive 190% increase over Adjusted EBITDA of $9.3 million in the same period of 2019. The total cash, cash equivalents, and marketable securities stood at $101.0 million.
For the full year of 2020, revenue was $148.7 million, a 31% increase over $113.9 million in 2019. The net income was $26.6 million, or $0.46 per diluted share in 2020, an increase over net income of $6.6 million, or $0.04 per diluted share in 2019. Adjusted EBITDA was $50.3 million, a 116% increase over Adjusted EBITDA of $23.3 million in 2019; and net cash provided by operating activities was $24.3 million.
On the business front, the organization completed its IPO in December 2020 and raised $45.8 million in net proceeds. Moreover, 46.9 trillion impressions were processed in 2020, a 69% increase over 2019 along with an increased new platform capacity throughout the year.
PubMatic also added 368 new publishing partners in 2020, bringing total publishers and app developers on the platform to 1,208 at the end of 2020. Its fast-growing advertising formats including mobile, digital video, and OTT/CTV grew to 65% of total revenue in Q4 2020.
Found in 2006, by Rajeev and Amar Goel with Anand Das and Mukul Kumar, the PubMatic software was developed in Pune, India. Since then PubMatic has created an efficient, global infrastructure and remains at the forefront of programmatic innovation. It is now headquartered in Redwood City, California, and operates 14 offices and eight data centers worldwide.