Ad tech company PubMatic stock pops 10% in first earnings report after December IPO

PubMatic signage on day of IPO at the Nasdaq

Source: Nasdaq

Advert tech firm PubMatic, which launched an preliminary public offering in December, saw shares pop 10% Tuesday after posting fourth quarter revenue that beat estimates. 

PubMatic runs a promote-facet promoting platform that runs proper-time programmatic ad transactions and permits publishers and app builders to promote home to advertisers genuine via media, including demonstrate or video ads on desktop, cellular app, cellular internet or streaming TV. 

The firm stated revenue within the fourth quarter of 2020 became $56.2 million, up 64% year-over-year. Analysts surveyed by Refinitiv expected revenue of $47.4 million within the quarter. The firm stated revenue in chubby-year 2020 became $148.7 million, up 31% year-over-year. 

The firm’s chief monetary officer Steve Pantelick stated in a press free up that the quarterly sing became pushed by promoting strength in e-commerce, technology, interior most finance and on streaming video. 

PubMatic’s purchasers, as of December, consist of publishers admire Verizon Media Community and Facts Corp and app makers admire Digital Arts and Zynga. The Verizon relationship is basically major. It made up 28% of its revenue in 2019 and 21% of its revenue within the first 9 months of 2020. The firm competes with divisions of Google in conjunction with various supply-facet platforms admire Magnite, which became formed as a manufactured from a 2020 merger between public ad tech firms Telaria and Rubicon Challenge. 

PubMatic stated in a press free up that it expects revenue within the first quarter of 2021 to be within the vary of $38 million to $40 million, rising between 34% to 41% over the same duration closing year. 

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