PubMatic annual operating margin
2019
2020
2021
2022
2023
2024
2025
PubMatic Operating Margin Growth & History (PUBM)
PubMatic's operating margin was −6.10% for fiscal 2025.
View full PubMatic company overviewPubMatic annual operating margin history
| Fiscal year | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| 2025 | 2025-12-31 | −6.10% | −7.45 pp |
| 2024 | 2024-12-31 | 1.35% | +0.59 pp |
| 2023 | 2023-12-31 | 0.76% | −15.04 pp |
| 2022 | 2022-12-31 | 15.80% | −10.10 pp |
| 2021 | 2021-12-31 | 25.91% | +4.56 pp |
| 2020 | 2020-12-31 | 21.35% | +13.88 pp |
| 2019 | 2019-12-31 | 7.47% | — |
PubMatic quarterly operating margin
Q1.20
Q2.20
Q3.20
Q4.20
Q1.21
Q2.21
Q3.21
Q4.21
Q1.22
Q2.22
Q3.22
Q4.22
Q1.23
Q2.23
Q3.23
Q4.23
Q1.24
Q2.24
Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| Q2 2026 | 2026-06-30 | 0.74% | +8.42 pp |
| Q1 2026 | 2026-03-31 | −24.41% | −5.76 pp |
| Q4 2025 | 2025-12-31 | 10.65% | −6.66 pp |
| Q3 2025 | 2025-09-30 | −12.39% | −10.49 pp |
| Q2 2025 | 2025-06-30 | −7.68% | −1.76 pp |
| Q1 2025 | 2025-03-31 | −18.65% | −10.37 pp |
| Q4 2024 | 2024-12-31 | 17.31% | −6.82 pp |
| Q3 2024 | 2024-09-30 | −1.90% | −1.00 pp |
| Q2 2024 | 2024-06-30 | −5.92% | +5.34 pp |
| Q1 2024 | 2024-03-31 | −8.28% | +10.98 pp |
| Q4 2023 | 2023-12-31 | 24.13% | +1.89 pp |
| Q3 2023 | 2023-09-30 | −0.90% | −15.81 pp |
| Q2 2023 | 2023-06-30 | −11.26% | −26.80 pp |
| Q1 2023 | 2023-03-31 | −19.26% | −27.66 pp |
| Q4 2022 | 2022-12-31 | 22.24% | −14.77 pp |
| Q3 2022 | 2022-09-30 | 14.92% | −9.27 pp |
| Q2 2022 | 2022-06-30 | 15.54% | −4.87 pp |
| Q1 2022 | 2022-03-31 | 8.40% | −6.83 pp |
| Q4 2021 | 2021-12-31 | 37.01% | −2.47 pp |
| Q3 2021 | 2021-09-30 | 24.18% | +3.57 pp |
| Q2 2021 | 2021-06-30 | 20.41% | +17.64 pp |
| Q1 2021 | 2021-03-31 | 15.23% | +11.60 pp |
| Q4 2020 | 2020-12-31 | 39.48% | — |
| Q3 2020 | 2020-09-30 | 20.61% | — |
| Q2 2020 | 2020-06-30 | 2.77% | — |
| Q1 2020 | 2020-03-31 | 3.63% | — |
PubMatic operating margin trends
Over the last five reported fiscal years, PubMatic's operating margin decreased from 21.35% to −6.10%, a change of −27.45 percentage points. The latest reported quarter, Q2 2026, shows 0.74%.
About the metric
What operating margin means
Operating margin measures the percentage of revenue left after operating costs and expenses. It shows how much operating profit a company generates from each dollar of revenue.
Calculation and source
How operating margin is calculated
TickerStat calculates operating margin as SEC-reported operating income divided by SEC-reported revenue for the same fiscal period. Changes are shown in percentage points. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review PubMatic filings at SEC.gov ↗