PubMatic (PUBM) Gross Margin (2020 - 2026)
PubMatic's Gross Margin came in at 67.07% for Q2 2026, up 4.51 percentage points from 62.57% a year earlier and up 8.78 percentage points from the prior quarter.
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Analysis
PubMatic (PUBM) Gross Margin (2020 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, PubMatic reported Gross Margin of 64.43%, down 0.44 percentage points year-over-year; for FY2025, it was 63.56%, down 1.75 percentage points from FY2024.
- Gross Margin carries a five-year change of -8.75 percentage points (FY2020 to FY2025).
- Going back by year, Gross Margin was 65.31% in FY2024 (+2.48 pp), 62.84% in FY2023 (-5.37 pp), 68.21% in FY2022 (-6.09 pp) and 74.30% in FY2021 (+1.99 pp).
- The five-year range for quarterly Gross Margin is 56.93% (Q1 2023) to 77.63% (Q4 2021).
- Year-over-year, Gross Margin increased in two of the last eight quarters, with an average year-over-year change of +0.16 percentage points.
- The fastest year-over-year change in Gross Margin over five years came in Q3 2024 (a gain of 5.44 percentage points), and the weakest in Q1 2023 (a drop of 10.09 percentage points).
- Business Quant data shows PUBM's Gross Margin at 58.29% (Q1 2026), 68.17% (Q4 2025) and 62.62% (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 3,505.75 Bn | 3,240.65 Bn | 76.16 Bn | 59.70% |
| 2 | Meta Platforms | 1,636.37 Bn | 1,300.89 Bn | 51.23 Bn | 79.31% |
| 3 | Netflix | 264.79 Bn | 226.09 Bn | 6.80 Bn | 52.78% |
| 4 | Alibaba Group Holding | 244.49 Bn | 58.13 Bn | 15.16 Bn | 38.24% |
| 5 | Shopify | 196.00 Bn | 174.81 Bn | 1.78 Bn | 47.59% |
| 6 | Uber Technologies | 145.16 Bn | 115.98 Bn | 6.42 Bn | 43.46% |
| 7 | AppLovin | 136.87 Bn | 125.40 Bn | 1.94 Bn | 88.98% |
| 8 | Spotify Technology | 125.04 Bn | 81.96 Bn | 1.89 Bn | 32.98% |
| 9 | Booking Holdings | 122.68 Bn | 56.42 Bn | - | - |
| 10 | PubMatic | 876.01 Mn | 311.57 Mn | 52.72 Mn | 67.07% |
Historic Data
Download Data
Historic 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% |
API Access
PubMatic Gross Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=gross-margin&ticker=PUBM&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "ticker": "PUBM", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=gross-margin&ticker=PUBM&period=max&api_key=YOUR_API_KEY");
const data = await res.json();