PubMatic has posted a 54 per cent year-on-year lift in revenue, according to the company’s latest financial results.
Revenue in the first quarter of 2021 was $US43.6 million – up from $US28.3 million this time last year.
“We delivered another exceptional quarter driven by multiple organic growth drivers. Our performance reinforces the belief that our differentiated, owned and operated cloud infrastructure provides superior outcomes for the growing digital advertising market,” said Rajeev Goel, co-founder and CEO at PubMatic.
“Our omnichannel platform fueled growth across all segments of our customer base and all formats we serve, particularly in video and OTT/CTV. Our execution, combined with the economic re-opening and expected acceleration of digital advertising, gives us confidence to raise our full year outlook for 2021.”
According to the results, mobile and omnichannel video (which includes OTT/CTV) were the fastest-growing channels, with omnichannel video now making up 63 per cent of total revenue.
The company also revealed it has processed 18.5 trillion impressions in the first quarter, a 106 per cent increase over a year ago.
“Our out-performance in the quarter reflects the strength of our platform, the value we deliver via our usage-based model and our infrastructure-first approach. We are pleased with our results and are raising our full year outlook,” said Steve Pantelick, CFO at PubMatic. “As we grow our market share, we will continue to invest for future growth adding new customers, increasing the capacity of our infrastructure, and expanding our engineering and go-to-market teams. We believe these investments give us a powerful network effect with more visibility and scale, driving increased revenues from existing customers and operating a highly profitable platform that benefits our customers and partners.”
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