PubMatic Q2 results beat estimates, boosted by AgenticOS adoption, CTV, app demand

PubMatic

06/08/2026 21:42

Overview
AI ad tech firm's Q2 revenue rose 11%, beating analyst expectations
Adjusted EBITDA for Q2 increased 38% and beat analyst expectations
Company repurchased 2.1 mln shares in Q2, about 4.2% of fully diluted shares

Outlook
Company expects Q3 2026 revenue between $75 mln and $77 mln
Company sees Q3 2026 adjusted EBITDA between $17 mln and $19 mln
Company anticipates continued double-digit year-over-year revenue growth and margin expansion

Result Drivers
AI ADOPTION - Co said customer adoption of AI-powered AgenticOS more than doubled sequentially, delivering measurable performance gains and accelerating campaign setup
REVENUE MIX SHIFT - CTV, mobile app and emerging revenues represented ~60% of total revenue, roughly double the share of three years ago, with CTV and mobile app revenue growing strongly
INFRASTRUCTURE OPTIMIZATION - Co said cost of revenue per million impressions processed decreased 20% on a trailing twelve month period, enabling higher profitability

Company press release: ID:nBw22MSxa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$78.60 mln
$68.87 mln (12 Analysts)
Q2 Adjusted Net Income
Beat
$5.90 mln
-$8.01 mln (8 Analysts)
Q2 Net Loss
 
$1.20 mln
 
Q2 Adjusted EBITDA
Beat
$19.60 mln
$8.84 mln (12 Analysts)

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the software peer group is "buy"
Wall Street's median 12-month price target for PubMatic, Inc. is $12.16, about 10% below its August 5 closing price of $13.51

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)