PubMatic (PUBM) Gross Margin (2020 - 2026)
PubMatic (PUBM) posted quarterly Gross Margin of 58.29% for Q1 2026, down 161.0% year-over-year from 95.56% in Q1 2025, and down 14.48% quarter-over-quarter from 68.17% in Q4 2025.
PubMatic (PUBM) Gross Margin (2020 - 2026) Analysis & Trends
PubMatic (PUBM) has reported Gross Margin for 7 consecutive years, with 58.29% the latest figure, recorded in Q1 2026.
- In Q1 2026, Gross Margin fell 161.0% year-over-year to 58.29%; the TTM figure through Mar 2026 stood at 63.22% (down 169.0% YoY), while the FY2025 annual figure was 63.56%, down 175.0% from the prior year.
- Gross Margin declined 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.
- Historically, Gross Margin has averaged 64.21% across 5 years, with a median of 62.62% in 2025.
- Annual changes were most pronounced in 2023 — Gross Margin sank 1009 bps — and 2024, when it jumped 544 bps.
- PubMatic's Gross Margin stood at 69.1% in 2022, then climbed by 3 bps to 71.39% in 2023, then fell by 1 bps to 70.84% in 2024, then fell by 4 bps to 68.17% in 2025, then dropped by 14 bps to 58.29% in 2026.
- Business Quant data shows PUBM's Gross Margin at 58.29% in Q1 2026, 68.17% in Q4 2025, and 62.62% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Sap Se | 255.48 Bn | 234.41 Bn | 16.51 Bn | 73.08% |
| 2 | Shopify | 198.95 Bn | 194.00 Bn | 1.71 Bn | 47.67% |
| 3 | Salesforce | 160.70 Bn | 148.86 Bn | 8.56 Bn | 76.92% |
| 4 | Uber Technologies | 154.94 Bn | 149.73 Bn | 6.38 Bn | 44.93% |
| 5 | ServiceNow | 128.25 Bn | 123.58 Bn | 2.82 Bn | 70.68% |
| 6 | Snowflake | 114.00 Bn | 111.05 Bn | 926.45 Mn | 66.61% |
| 7 | Automatic Data Processing | 108.58 Bn | 104.35 Bn | 2.51 Bn | 45.88% |
| 8 | Adobe | 105.34 Bn | 99.72 Bn | 5.90 Bn | 89.20% |
| 9 | Intuit | 94.55 Bn | 87.77 Bn | 7.24 Bn | 84.61% |
| 10 | PubMatic | 798.71 Mn | 661.20 Mn | 52.72 Mn | 67.07% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 67.07% |
| 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% |