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![PubMatic, Inc. [PUBM] reports annual net loss of $8.9 million](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FPUBM.png&w=1200&q=75)
PubMatic, Inc. [PUBM] has reported a net loss of $8.9 million for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $267.0 million
Based in REDWOOD CITY, California, PubMatic, Inc. operates in the SERVICES sector.
In the fiscal year ending December 31, 2023, the company reported total revenue of $267.0 million, a slight increase from the previous year's revenue of $256.4 million. This growth in revenue indicates a positive trend in the company's top-line performance.
Cost of revenue for the same period amounted to $99.2 million, compared to $81.5 million in the previous year. This increase in costs could be attributed to various factors such as inflation, higher material costs, or increased production expenses.
The gross profit for the year was $167.8 million, slightly lower than the previous year's gross profit of $174.9 million. The decrease in gross profit could be due to the rise in costs outpacing the growth in revenue.
Operating income for the year significantly decreased to $2.0 million from $40.5 million in the prior year. This drastic decline in operating income indicates challenges in managing operating expenses effectively.
Net income for the fiscal year was $8.9 million, a substantial decrease from the previous year's net income of $28.7 million. This decline in net income reflects the company's overall profitability challenges during the period.
Earnings per share (EPS) also saw a decline, with basic EPS at $0.17 and diluted EPS at $0.16, down from $0.55 and $0.50 respectively in the previous year. This decrease in EPS signifies a decrease in the company's profitability per outstanding share.
In summary, the company experienced a mixed financial performance in the fiscal year 2023 with a marginal increase in revenue but significant declines in operating income, net income, and earnings per share compared to the previous year.
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