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How PUBMATIC, INC. makes its money

Start with a dollar of revenue and follow what the filing says remains.

revenueBranching filed flows with values and percentages directly labeled. Missing filing concepts are omitted rather than estimated.Revenue$283M · 100%Cost of revenue$103M · 36%Gross profit$180M · 64%Operating income−$17.3M · −6%Income before tax−$16M · −6%Income tax−$1.5M · −1%Net income−$14.5M · −5%As of 2025-12-31 · 1 SEC filing sourceBuy Like Buffett · buylikebuffett.com

Honest partial: the filing did not provide a normalized tag for Research and development, Selling, general and administrative; those components are omitted, not plugged.

Table alternative
Filed lineValue% of revenueSource
$283M100%
  • 10-K · FY 2025Filing detailsAccession 0001422930-26-000010 · filed Feb 26, 2026
Cost of revenue$103M36%
  • 10-K · FY 2025Filing detailsAccession 0001422930-26-000010 · filed Feb 26, 2026
$180M64%
  • 10-K · FY 2025Filing detailsAccession 0001422930-26-000010 · filed Feb 26, 2026
−$17.3M−6%
  • 10-K · FY 2025Filing detailsAccession 0001422930-26-000010 · filed Feb 26, 2026
Income before tax−$16M−6%
  • 10-K · FY 2025Filing detailsAccession 0001422930-26-000010 · filed Feb 26, 2026
Income tax−$1.5M−1%
  • 10-K · FY 2025Filing detailsAccession 0001422930-26-000010 · filed Feb 26, 2026
−$14.5M−5%
  • 10-K · FY 2025Filing detailsAccession 0001422930-26-000010 · filed Feb 26, 2026
Source:
  • 10-K · FY 2025Filing detailsAccession 0001422930-26-000010 · filed Feb 26, 2026
· event Dec 31, 2025 · retrieved Oct 16, 2026 · annual-row source set
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