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PubMatic PubMatic Announces Second Quarter 2021 Financial Results August 10 , 2021 Delivered revenue and adjusted EBITDA above guidance ; Raises financial outlook Multiple growth drivers deliver year - over - year revenue growth of 88 % , $ 9.9 million in GAAP net income and $ 18.6 million in adjusted EBITDA NO - HEADQUARTERS / REDWOOD CITY , Calif . , Aug. 10 , 2021 ( GLOBE NEWSWIRE ) PubMatic , Inc. ( Nasdaq : PUBM ) , a sell - side platform that delivers superior outcomes for digital advertising , today reported financial results for the second quarter ending June 30 , 2021 . -- " We delivered another great quarter , benefiting from a differentiated business model , multiple organic growth drivers , prior period investments , and accelerated digital ad spend , ” said Rajeev Goel , co - founder and CEO at PubMatic . " We're relentlessly focused on the growing value proposition we bring to publishers and buyers , and we believe our continued investments and innovation position us well to take advantage of the rapidly growing market . As we enter the second half of the year , we are well ahead of where we expected to be in terms of organic market share gains . We are growing at twice the rate of the overall digital ad market , giving us the confidence to raise our 2021 and 2022 expectations on both the top and bottom lines . " Second Quarter 2021 Financial Highlights • Revenue in the second quarter of 2021 was $ 49.7 million , an increase of 88 % over $ 26.4 million in the same period of 2020 ; • GAAP net income was $ 9.9 million , or $ 0.18 per diluted share in the second quarter , an increase over net income of $ 0.7 million , or $ 0.00 per diluted share in the same period of 2020 ; • Net dollar - based retention¹ was 150 % for the trailing twelve months ended June 30 , 2021 , an increase from 107 % in the comparable trailing twelve month period a year ago ; • Adjusted EBITDA was $ 18.6 million , compared to adjusted EBITDA of $ 4.9 million in the same period of 2020 ; and • Total cash , cash equivalents , and marketable securities of $ 122.0 million with no debt , an increase of 11 % in the quarter . 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 . 1 Net dollar - based retention is calculated by starting with the revenue from publishers in the trailing twelve months ended June 30 , 2020 ( " Prior Period Revenue " ) . We then calculate the revenue from these same publishers in the trailing twelve months ended June 30 , 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 . Second Quarter 2021 Business Highlights • Processed 20.2 trillion impressions in the second quarter , a 96 % increase over a year ago ; • Revenue from fast - growing advertising formats mobile and omnichannel video , which includes OTT / CTV , grew 108 % year - over - year and represented 65 % of total revenue in Q2 2021 ; • Revenue from CTV , which includes OTT , grew by more than 100 % over Q1 2021 , an increase over the 55 % sequential growth we saw from Q4 2020 to Q1 2021. As of the end of Q2 2021 , we are monetizing CTV / OTT inventory from 114 publishers , up from more than 80 publishers in Q1 2021 ; • Won the 2021 Best Supply Side Platform award from Adweek's Readers ' Choice : Best of Tech Partners Awards , which recognizes the top advertising and marketing technology providers based on over 10,000 Adweek reader votes . • In the second quarter , 23.6 % of ad dollars on our platform were via Supply Path Optimization agreements , with the share more than doubling since the beginning of 2020 .