PubMatic (PUBM) Gross Margin (2020 - 2026)
PubMatic (PUBM) reported Gross Margin of 58.29% for Q1 2026, down 161.0% year-over-year from 95.56% in Q1 2025, and down 14.48% on a QoQ basis from 68.17% in Q4 2025.
PubMatic (PUBM) has 7 years of Gross Margin data on file, last reported at 58.29% in Q1 2026.
- Quarterly Gross Margin fell 161.0% year-over-year to 58.29% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 63.22% (down 169.0% YoY) and the FY2025 annual result came in at 63.56%, down 175.0% from the prior year.
- Gross Margin slipped to 58.29% in Q1 2026 per PUBM's latest filing, from 68.17% in the prior quarter.
- Across five years, Gross Margin topped out at 71.39% in Q4 2023 and bottomed at 56.93% in Q1 2023.
- The 5-year median for Gross Margin is 62.62% (2025), against an average of 64.21%.
- The widest annual swing landed in 2023, when Gross Margin tumbled 1009 bps; it then surged 544 bps in 2024.
- Tracing PUBM's Gross Margin over 5 years: stood at 69.1% in 2022, then rose by 3 bps to 71.39% in 2023, then slipped by 1 bps to 70.84% in 2024, then slipped by 4 bps to 68.17% in 2025, then retreated by 14 bps to 58.29% in 2026.
- Per Business Quant, the three latest PUBM Gross Margin figures stand at 58.29% (Q1 2026), 68.17% (Q4 2025), and 62.62% (Q3 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Sap Se | 253.17 Bn | 235.20 Bn | 8.16 Bn | 72.98% |
| 2 | Salesforce | 171.07 Bn | 161.50 Bn | 8.69 Bn | 77.61% |
| 3 | Uber Technologies | 151.10 Bn | 150.06 Bn | 11.88 Bn | 89.96% |
| 4 | Shopify | 134.25 Bn | 128.50 Bn | 1.55 Bn | 48.77% |
| 5 | ServiceNow | 105.72 Bn | 100.54 Bn | 2.83 Bn | 75.07% |
| 6 | Cadence Design Systems | 101.64 Bn | 100.23 Bn | 1.26 Bn | 85.65% |
| 7 | Adobe | 100.35 Bn | 93.46 Bn | 5.73 Bn | 89.62% |
| 8 | Automatic Data Processing | 90.91 Bn | 87.68 Bn | 2.87 Bn | 48.28% |
| 9 | Intuit | 88.30 Bn | 81.52 Bn | 6.77 Bn | 79.05% |
| 10 | PubMatic | 488.16 Mn | 343.29 Mn | 36.47 Mn | 58.29% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 58.29% |
| Dec 31, 2025 | 68.17% |
| Sep 30, 2025 | 62.62% |
| Jun 30, 2025 | 62.57% |
| Mar 31, 2025 | 59.91% |
| Dec 31, 2024 | 70.84% |
| Sep 30, 2024 | 64.47% |
| Jun 30, 2024 | 62.60% |
| Mar 31, 2024 | 61.88% |
| Dec 31, 2023 | 71.39% |
| Sep 30, 2023 | 59.03% |
| Jun 30, 2023 | 60.42% |
| Mar 31, 2023 | 56.93% |
| Dec 31, 2022 | 69.10% |
| Sep 30, 2022 | 66.53% |
| Jun 30, 2022 | 69.90% |
| Mar 31, 2022 | 67.02% |
| Dec 31, 2021 | 77.63% |
| Sep 30, 2021 | 72.42% |
| Jun 30, 2021 | 73.64% |
| Mar 31, 2021 | 71.79% |
| Dec 31, 2020 | 79.64% |
| Sep 30, 2020 | 72.24% |
| Jun 30, 2020 | 65.14% |
| Mar 31, 2020 | 64.53% |