PubMatic (PUBM) Operating Expenses (2020 - 2026)
PubMatic (PUBM) posted quarterly Operating Expenses of $51.7 million for Q1 2026, up 3.2% year-over-year from $50.1 million in Q1 2025, and up 12.39% quarter-over-quarter from $46.0 million in Q4 2025.
PubMatic (PUBM) Operating Expenses (2020 - 2026) Analysis & Trends
PubMatic (PUBM) has reported Operating Expenses for 7 consecutive years, with $51.7 million the latest figure, recorded in Q1 2026.
- In Q1 2026, Operating Expenses rose 3.2% year-over-year to $51.7 million; the TTM figure through Mar 2026 stood at $198.7 million (up 4.78% YoY), while the FY2025 annual figure was $197.1 million, up 5.8% from the prior year.
- Operating Expenses rose to $51.7 million in Q1 2026 per PUBM's latest filing, from $46.0 million in the prior quarter.
- Across five years, Operating Expenses topped out at $51.7 million in Q1 2026 and bottomed at $32.0 million in Q1 2022.
- Historically, Operating Expenses has averaged $43.2 million across 5 years, with a median of $45.8 million in 2024.
- Annual changes were most pronounced in 2023 — Operating Expenses soared 32.49% — and 2025, when it climbed 0.6%.
- PubMatic's Operating Expenses stood at $34.8 million in 2022, then advanced by 14.82% to $40.0 million in 2023, then climbed by 14.47% to $45.8 million in 2024, then grew by 0.6% to $46.0 million in 2025, then grew by 12.39% to $51.7 million in 2026.
- Business Quant data shows PUBM's Operating Expenses at $51.7 million in Q1 2026, $46.0 million in Q4 2025, and $51.0 million in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Sap Se | 255.48 Bn | 234.41 Bn | 16.51 Bn | -16.33 Bn |
| 2 | Shopify | 198.95 Bn | 194.00 Bn | 1.71 Bn | 1.22 Bn |
| 3 | Salesforce | 160.70 Bn | 148.86 Bn | 8.56 Bn | 6.22 Bn |
| 4 | Uber Technologies | 154.94 Bn | 149.73 Bn | 6.38 Bn | 12.30 Bn |
| 5 | ServiceNow | 128.25 Bn | 123.58 Bn | 2.82 Bn | 2.66 Bn |
| 6 | Snowflake | 114.00 Bn | 111.05 Bn | 926.45 Mn | 1.25 Bn |
| 7 | Automatic Data Processing | 108.58 Bn | 104.35 Bn | 2.51 Bn | 4.34 Bn |
| 8 | Adobe | 105.34 Bn | 99.72 Bn | 5.90 Bn | 3.67 Bn |
| 9 | Intuit | 94.55 Bn | 87.77 Bn | 7.24 Bn | 4.54 Bn |
| 10 | PubMatic | 798.71 Mn | 661.20 Mn | 52.72 Mn | 52.14 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 52.14 Mn |
| Mar 31, 2026 | 51.75 Mn |
| Dec 31, 2025 | 46.04 Mn |
| Sep 30, 2025 | 50.98 Mn |
| Jun 30, 2025 | 49.94 Mn |
| Mar 31, 2025 | 50.14 Mn |
| Dec 31, 2024 | 45.77 Mn |
| Sep 30, 2024 | 47.64 Mn |
| Jun 30, 2024 | 46.09 Mn |
| Mar 31, 2024 | 46.80 Mn |
| Dec 31, 2023 | 39.98 Mn |
| Sep 30, 2023 | 38.16 Mn |
| Jun 30, 2023 | 45.40 Mn |
| Mar 31, 2023 | 42.22 Mn |
| Dec 31, 2022 | 34.82 Mn |
| Sep 30, 2022 | 33.29 Mn |
| Jun 30, 2022 | 34.26 Mn |
| Mar 31, 2022 | 31.98 Mn |
| Dec 31, 2021 | 30.69 Mn |
| Sep 30, 2021 | 28.02 Mn |