REDWOOD CITY, Calif., Aug. 06, 2020 (GLOBE NEWSWIRE) -- Premium digital technology company PubMatic today announced a year-over-year 7% increase in revenue for the first half of 2020, demonstrating that the company is well-positioned for future growth despite the impact that Covid-19 has had on advertising. The company’s Q2 revenue was down only 4% year-over-year (YOY) during the height of the pandemic’s economic impact, while June revenue was up 9% YOY for a strong finish to Q2. Continuing its string of multiple consecutive years of profitability, the company remained profitable during this period, with GAAP pre-tax income of $1.2M in Q2 2020.
“I’m incredibly proud of the PubMatic team for achieving year-over-year revenue growth and profitability despite the significant headwinds caused by Covid-19,” said Rajeev Goel, Co-founder and CEO of PubMatic. “This is a testament to our focus on delivering ROI for buyers and flexible omnichannel solutions for our publishers. We will significantly expand our investment in our team, product innovation, and infrastructure in the second half of 2020.”
In the past two quarters, PubMatic has launched and expanded offerings providing value to publisher and buyer customers during a challenging time. The company has prioritized solutions that drive omnichannel monetization for publisher partners, including Prebid-based header bidding solutions OpenWrap SDK (for mobile app inventory) and OpenWrap OTT (for OTT and CTV inventory), as well as Identity Hub, which allows publishers to work with leading first-party ID solutions to maximize revenue and adapt quickly to changes in the market. These new innovations helped drive company video revenue up 73% YOY for the first half of 2020, while mobile revenue increased 62% YOY.*
PubMatic is the platform of choice for advertisers and agencies for its omnichannel, global, and efficient infrastructure. The company offers products that offer transparency and control for buyers and is committed to delivering the highest quality inventory. As such, PubMatic has benefited from supply path optimization trends and has expanded buyer relationships with each of the top six global agency holding companies.
PubMatic is continuing to expand and invest in its business to drive value for customers in the face of an ever-changing environment. The company added 67 new hires in the first half of 2020, bringing global headcount to 500 employees. In the second half of the year the company plans to add an additional 80 team members, nearly a quarter of whom will be directly focused on mobile and video solutions. As well, technology and infrastructure investment expanded the company’s global ad serving capacity by 25 billion impressions per day in the first half of 2020. An additional increase of 50 billion impressions per day is planned in the second half of the year to meet the expanding needs of global customers.
“We are continuing to invest to capture the immense shift to online channels. While the overall advertising market is suppressed in the near term, millions more people are now online for banking, shopping, health, education, and entertainment. This will ultimately drive significant increases in online advertising, and PubMatic’s investment will secure our ability to capture demand at scale, delivering value for advertisers and publishers alike,” said Goel.
*Mobile includes Mobile Web and Mobile App. All Mobile and Video data points represented in this document are operational and from our internal reporting system. This data does not include accounting true-ups, and as such does not reconcile to the Company’s Financial Statements. Mobile data prior to May 2019 was restated to reflect a revised counting methodology of impressions.
PubMatic delivers superior revenue to publishers by being the sell-side platform of choice for agencies and advertisers. The PubMatic platform empowers independent app developers and publishers to maximize their digital advertising monetization while enabling advertisers to increase ROI by reaching and engaging their target audiences in brand-safe, premium environments across ad formats and devices. Since 2006, PubMatic has created an efficient, global infrastructure and remains at the forefront of programmatic innovation. Headquartered in Redwood City, California, PubMatic operates 14 offices and nine data centers worldwide.
Broadsheet Communications for PubMatic