Growth Metrics

PubMatic (PUBM) Operating Expenses (2020 - 2025)

PubMatic (PUBM) has disclosed Operating Expenses for 6 consecutive years, with $46.0 million as the latest value for Q4 2025.

  • Quarterly Operating Expenses rose 0.6% to $46.0 million in Q4 2025 from the year-ago period, while the trailing twelve-month figure was $197.1 million through Dec 2025, up 5.8% year-over-year, with the annual reading at $197.1 million for FY2025, 5.8% up from the prior year.
  • Operating Expenses for Q4 2025 was $46.0 million at PubMatic, down from $51.0 million in the prior quarter.
  • The five-year high for Operating Expenses was $51.0 million in Q3 2025, with the low at $24.7 million in Q1 2021.
  • Average Operating Expenses over 5 years is $39.7 million, with a median of $41.1 million recorded in 2023.
  • The sharpest move saw Operating Expenses surged 60.78% in 2021, then grew 0.6% in 2025.
  • Over 5 years, Operating Expenses stood at $30.7 million in 2021, then rose by 13.47% to $34.8 million in 2022, then rose by 14.82% to $40.0 million in 2023, then grew by 14.47% to $45.8 million in 2024, then increased by 0.6% to $46.0 million in 2025.
  • According to Business Quant data, Operating Expenses over the past three periods came in at $46.0 million, $51.0 million, and $49.9 million for Q4 2025, Q3 2025, and Q2 2025 respectively.