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Redwood City Today
By the People, for the People
PubMatic Announces Strong Q4 and Fiscal Year 2025 Results
Delivered revenue and adjusted EBITDA ahead of guidance; FY 2025 CTV revenue grew 50%+ over FY 2024 excluding political ad spend
Published on Feb. 27, 2026
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PubMatic, Inc., the leading AI-powered ad tech company delivering digital advertising performance, today reported financial results for the fourth quarter and fiscal year ended December 31, 2025. The company delivered an exceptional fourth quarter, highlighted by strong growth across CTV, Activate, and its emerging revenue streams, as well as accelerating momentum of its AI solutions. For the full year 2025, PubMatic reported revenue of $282.9 million and adjusted EBITDA of $61.6 million.
Why it matters
PubMatic's strong financial performance in 2025 demonstrates the company's ability to drive growth in key areas like CTV, mobile app, and emerging revenue streams, while also leveraging AI-enabled automation to improve operating efficiency. The company's investments in AI infrastructure and its new AgenticOS platform have given it a competitive advantage, enabling it to deliver increased performance and speed for customers.
The details
In 2025, PubMatic delivered revenue and adjusted EBITDA ahead of guidance, with FY 2025 CTV revenue growing over 50% year-over-year excluding political ad spend. The company's AgenticOS platform drove over 250 agentic deals, many of which represented new and incremental advertisers to PubMatic. PubMatic also launched several new AI-powered solutions, including an AI-powered media buying platform and an AI Insights and yield optimization solution for publishers.
- PubMatic reported financial results for the fourth quarter and fiscal year ended December 31, 2025.
- FY 2025 CTV revenue grew 50%+ over FY 2024 excluding political ad spend.
- Over 250 agentic deals have been transacted on PubMatic's AgenticOS platform since its launch in January 2025.
The players
PubMatic, Inc.
A leading AI-powered ad tech company delivering digital advertising performance.
Rajeev Goel
Co-founder and CEO of PubMatic.
Steve Pantelick
CFO of PubMatic.
What they’re saying
“We delivered an exceptional fourth quarter, highlighted by strong growth across CTV, Activate, and our emerging revenue streams, and accelerating momentum of our AI solutions.”
— Rajeev Goel, Co-founder and CEO (PubMatic)
“Our fourth-quarter results represented an important structural inflection point for PubMatic, as we meaningfully exceeded expectations on both revenue and adjusted EBITDA.”
— Steve Pantelick, CFO (PubMatic)
What’s next
PubMatic expects to return to double-digit revenue growth in the second half of 2026, with corresponding margin expansion supported by revenue scale and AI-powered efficiencies.
The takeaway
PubMatic's strong financial performance in 2025, driven by its investments in AI infrastructure and new AI-powered solutions, positions the company well to continue driving growth and profitability in the years ahead. The company's focus on innovation and operational efficiency has allowed it to gain market share and expand its addressable market, even in a challenging macroeconomic environment.
