Filing Flows › PubMatic (PUBM) › Q1 2026
PubMatic (PUBM) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 7, 2026
PubMatic (PUBM) reported revenue of $62.6M for the first quarter 2026 (Q1 2026), -2% from a year earlier and -22% from the quarter before. Operating margin was -24.4%, net loss $12.5M (20.0% of revenue).
PubMatic, Q1 2026: revenue $62.6M (-2% year over year), operating margin -24.4%, net loss $12.5M, operating cash flow $17.3M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $62.6M | -22% | -2% |
| Operating profit | −$15.3M | -279% | — |
| Net earnings | −$12.5M | -287% | — |
| Operating cash flow | $17.3M | -5% | +11% |
| Free cash flow | $10.7M | — | +47% |
What changed
Revenue was $62.6M in Q1 2026, down 2% year over year and down 22% from the previous quarter.
Gross margin was 58.3%, down 1.6 points from Q1 2025. Operating costs exceeded revenue by $15.3M, an operating margin of -24.4%. Operating expenses grew 3% against a revenue fall of 2%. The quarter ended with a net loss of $12.5M, after a profit of $6.7M the previous quarter.
Operating cash flow was $17.3M (up 11% year over year). Non-cash charges added back $3.5M of depreciation and amortization and $8.5M of share-based compensation. Working capital and other items added $17.8M. After capitalized software development costs ($6.6M) and purchases of property and equipment ($11K), free cash flow as the company reports it was $10.7M.
Questions
What was PubMatic's revenue in the first quarter 2026?
PubMatic (PUBM) reported revenue of $62.6M for the first quarter 2026 (Q1 2026), -2% from a year earlier and -22% from the quarter before.
Was PubMatic profitable in the first quarter 2026?
Operating loss was $15.3M (-24.4% of revenue) and net loss $12.5M.
Source: PubMatic 10-Q on SEC EDGAR.