Where Is This Stock Heading After Results-PUBM

Acrobull Canada Advisory Inc.

February 28			2025
Name	Ticker	Sector/Industry		Market Cap	Risk Factor
PubMatic Inc.	PUBM-NASDAQ	Technology		$668 Million	Medium

PubMatic, Inc., a technology business, provides a cloud infrastructure platform that enables real-time programmatic advertising transactions for digital content creators, advertisers, agencies, agency trading desks, and demand side platforms globally.

Recent Highlights

Company Statement- In 2024, we delivered record share of revenue for CTV, mobile app and emerging revenues, and achieved an all-time high of Supply Path Optimization activity. We also significantly expanded our margins, once again, demonstrating the strength of our durable model and our strategic commitment to steward both operational excellence and targeted investments for growth,” said Steve Pantelick, CFO at PubMatic. “

In Q4, strong growth in the underlying business helped offset softer spending from the large DSP buyer we previously called out mid year. Going forward, we are taking a conservative approach as it relates to this buyer, and expect total revenues to grow year over year in the second half of the year once we lap this impact at the end of Q2 2025. Our underlying business, which excludes revenue from this DSP and political, is targeted to grow 15%+ and represent over two thirds of total company revenues in 2025

First Quarter 2025, Highlights

Revenue for the full year 2024 was $291.3 million, an increase of 9% over $267.0 million in 2023.

Gross profit was $190.2 million, or 65% margin, an improvement of 250 basis points over 2023.

Revenue from omnichannel video in 2024 grew 37% over the same period last year.

GAAP net income was $12.5 million with a margin of 4%, or $0.23 per diluted share in 2024, an increase over net income² of $8.9 million with a margin of 3%, or $0.16 per diluted share in 2023.

Adjusted EBITDA was $92.3 million, or 32% margin, an increase over adjusted EBITDA of $75.3 million, or 28% margin, in 2023.

Stock Observation- The company has reported average financial results in the fourth quarter, the company is expected to report better financial results in the next quarter. The RSI level for the stock is at 47 which shows oversold conditions.

Risk Involved- Financial performance of the company may have an impact on the company stock performance.

Considering all the factors and financials of the company Acrobull Canada Advisory Inc. maintains Customer Choose Watch for the stock.

Disclaimer- Though our research is fundamentally and technically based on Acrobull Canada Advisory Inc. only provides general advice on the stocks and it is imperative for the investors to do the risk assessment for themselves before investing as Acrobull Canada Advisory Inc. would not be liable for any loss or profit arising out through the investment made by the investors on our recommendations.

It is also advisable for the investors to consult with Financial Advisor, Broker or to seek any legal assistance as the research conducted by Acrobull Canada Advisory Inc. is factually based and recommendations are given in accordance with that, but it is imperative to understand that Acrobull Canada Advisory Inc. does not guarantee returns.

Acrobull Recommendation Based on Evaluation

Current Market Price	$13.97 USD
Acrobull Recommendation	Watch, Buy at $11.25
Target Price	18% of Buying Price
RSI Level	14 Day RSI 47
Total Shares Outstanding	39.47 Million
Shares held by Insiders Risk Factor Stop Loss	1.28% Medium 5%