PubMatic has posted a profit for Q2, with year-on-year revenue up 88 per cent.
Announcing the results today, the sell-side platform revealed revenue for the quarter was $US49.7 million ($67.7 million), up from $US26.4 million ($36 million) in the same quarter last year.
Revenue was led by mobile and omnichannel video – including OTT/CTV – which grew 108 per cent year-over-year and represented 65 per cent of total revenue in Q2 2021.
As well as posting a strong lift in profits, PubMatic also revealed revealed it processed 20.2 trillion impressions in the second quarter, a 96 per cent increase over a year ago.
“We delivered another great quarter, benefiting from a differentiated business model, multiple organic growth drivers, prior period investments, and accelerated digital ad spend,” said Rajeev Goel, co-founder and CEO at PubMatic [pictured].
“We’re relentlessly focused on the growing value proposition we bring to publishers and buyers, and we believe our continued investments and innovation position us well to take advantage of the rapidly growing market. As we enter the second half of the year, we are well ahead of where we expected to be in terms of organic market share gains. We are growing at twice the rate of the overall digital ad market, giving us the confidence to raise our 2021 and 2022 expectations on both the top and bottom lines.”
With so much focus on Google’s decision to deprecate third-party cookies, PubMatic also revealed there had been significant uptake of one of its cookieless solutions.
Over 250 publishers are using PubMatic’s Identity Hub solution, which is integrated with 13 leading email-based or alternative identifiers to enable buyers to recognize a publisher’s audience in cookieless environments and bid accordingly.
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