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PubMatic PubMatic Announces First Quarter 2021 Financial Results May 13 , 2021 Delivered revenue and adjusted EBITDA above guidance ; Raises 2021 financial outlook Multiple growth drivers deliver year over year revenue growth of 54 % Delivered $ 4.9 million in net income and $ 14.5 million in adjusted EBITDA REDWOOD CITY , Calif . , May 13 , 2021 ( GLOBE NEWSWIRE ) PubMatic , Inc. ( Nasdaq : PUBM ) , a sell - side platform that delivers superior outcomes for digital advertising , today reported financial results for the first quarter ending March 31 , 2021 . -- " We delivered another exceptional quarter driven by multiple organic growth drivers . Our performance reinforces the belief that our differentiated , owned and operated cloud infrastructure provides superior outcomes for the growing digital advertising market , ” said Rajeev Goel , co - founder and CEO at PubMatic . " Our omnichannel platform fueled growth across all segments of our customer base and all formats we serve , particularly in video and OTT / CTV . Our execution , combined with the economic re - opening and expected acceleration of digital advertising , gives us confidence to raise our full year outlook for 2021. " First Quarter 2021 Financial Highlights • Revenue in the first quarter of 2021 was $ 43.6 million , an increase of 54 % over $ 28.3 million in the same period of 2020 ; • Net income was $ 4.9 million , or $ 0.09 per diluted share in the first quarter , an increase over net income of $ 0.9 million , or $ 0.00 per diluted share in the same period of 2020 ; • Net dollar - based retention¹ was 130 % for the trailing twelve months ended Q1 2021 , an increase from 112 % in the comparable trailing twelve month period a year ago ; • Adjusted EBITDA was $ 14.5 million , compared to adjusted EBITDA of $ 5.1 million in the same period of 2020 ; and • Total cash , cash equivalents , and marketable securities of $ 110.0 million with no debt . 1 Net dollar - based retention is calculated by starting with the revenue from publishers in the trailing twelve months ended March 31 , 2020 ( " Prior Period Revenue " ) . We then calculate the revenue from these same publishers in the trailing twelve months ended March 31 , 2021 ( " Current Period Revenue " ) . Current Period Revenue includes any upsells and is net of contraction or attrition , but excludes revenue from new publishers . Our net dollar - based retention rate equals the Current Period Revenue divided by Prior Period Revenue . Net dollar - based retention rate is an important indicator of publisher satisfaction and usage of our platform , as well as potential revenue for future periods . The section titled " Non - GAAP Financial Measures " below describes our usage of non - GAAP financial measures . Reconciliations between historical GAAP and non - GAAP information are contained at the end of this press release following the accompanying financial data . First Quarter 2021 Business Highlights • Processed 18.5 trillion impressions in the first quarter , a 106 % increase over a year ago ; • Revenue from fast - growing advertising formats mobile and omnichannel video , which includes OTT / CTV , grew 83 % year over year and represented 63 % of total revenue in Q1 2021 ; • Revenue from OTT / CTV grew 55 % sequentially from Q4 2020 , and we monetized OTT / CTV inventory from over 80 publishers ; • Announced a partnership with Samba TV to integrate their extensive first - party Connected TV data and deliver TV audience targeting to programmatic advertising buyers ; • Announced our selection by GroupM as a global preferred SSP , and launched or expanded supply path optimization ( SPO ) agreements with Havas and Publicis Media Asia Pacific ; and • Identity Hub solution scaled to over 175 publishers , allowing them to seamlessly integrate with and optimize the leading