PubMatic, Inc(NASDAQ:PUBM) 
PubMatic, Inc. provides a cloud infrastructure platform that enables real-time programmatic advertising transactions for Internet content creators and advertisers worldwide. The company's solutions include PubMatic Cloud, which offers a customizable platform as a service; Openwrap, a header bidding ...
Website: https://pubmatic.com/
Founded: 2006
CEO / Co-Founder: Rajeev Goel
Sector: Technology
Industry: Software-Application
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At a glance:
Bull Thesis:
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Income Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
revenue | 62,567,000 | 80,046,000 | 67,960,000 | 71,095,000 | 63,825,000 | 85,502,000 | 71,786,000 | 67,267,000 | 66,701,000 | 84,600,000 | 63,677,000 | 63,330,000 | 55,407,000 | 74,296,000 | 64,500,000 | 63,032,000 | 54,552,000 | 75,556,000 | 58,086,000 | 49,658,000 | 43,608,000 | |
yoy | -1.97% | -6.38% | -5.33% | 5.69% | -4.31% | 1.07% | 12.73% | 6.22% | 20.38% | 13.87% | -1.28% | 0.47% | 1.57% | -1.67% | 11.04% | 26.93% | 25.10% | |||||
qoq | -21.84% | 17.78% | -4.41% | 11.39% | -25.35% | 19.11% | 6.72% | 0.85% | -21.16% | 32.86% | 0.55% | 14.30% | -25.42% | 15.19% | 2.33% | 15.54% | -27.80% | 30.08% | 16.97% | 13.87% | ||
cost of revenue | 26,094,000 | 25,482,000 | 25,403,000 | 26,612,000 | 25,588,000 | 24,935,000 | 25,508,000 | 25,160,000 | 25,424,000 | 24,208,000 | 26,091,000 | 25,067,000 | 23,863,000 | 22,955,000 | 21,591,000 | 18,974,000 | 17,992,000 | 16,905,000 | 16,020,000 | 13,088,000 | 12,300,000 | |
gross profit | 36,473,000 | 54,564,000 | 42,557,000 | 44,483,000 | 38,237,000 | 60,567,000 | 46,278,000 | 42,107,000 | 41,277,000 | 60,392,000 | 37,586,000 | 38,263,000 | 31,544,000 | 51,341,000 | 42,909,000 | 44,058,000 | 36,560,000 | 58,651,000 | 42,066,000 | 36,570,000 | 31,308,000 | |
yoy | -4.61% | -9.91% | -8.04% | 5.64% | -7.36% | 0.29% | 23.13% | 10.05% | 30.86% | 17.63% | -12.41% | -13.15% | -13.72% | -12.46% | 2.00% | 20.48% | 16.78% | |||||
qoq | -33.16% | 28.21% | -4.33% | 16.33% | -36.87% | 30.88% | 9.91% | 2.01% | -31.65% | 60.68% | -1.77% | 21.30% | -38.56% | 19.65% | -2.61% | 20.51% | -37.67% | 39.43% | 15.03% | 16.81% | ||
gross margin % | 58.29% | 68.17% | 62.62% | 62.57% | 59.91% | 70.84% | 64.47% | 62.60% | 61.88% | 71.39% | 59.03% | 60.42% | 56.93% | 69.10% | 66.53% | 69.90% | 67.02% | 77.63% | 72.42% | 73.64% | 71.79% | |
operating expenses: | ||||||||||||||||||||||
technology and development | 7,986,000 | 6,316,000 | 9,616,000 | 9,116,000 | 8,772,000 | 7,831,000 | 8,813,000 | 8,659,000 | 7,960,000 | 6,846,000 | 6,634,000 | 6,730,000 | 6,517,000 | 5,918,000 | 5,080,000 | 5,075,000 | 4,773,000 | 4,147,000 | 4,139,000 | 3,860,000 | 3,738,000 | |
sales and marketing | 28,965,000 | 25,209,000 | 25,732,000 | 25,200,000 | 26,799,000 | 23,763,000 | 23,696,000 | 23,095,000 | 24,815,000 | 20,353,000 | 19,513,000 | 19,810,000 | 23,127,000 | 17,807,000 | 16,087,000 | 18,212,000 | 16,456,000 | 16,370,000 | 15,004,000 | 13,997,000 | 12,789,000 | |
general and administrative | 14,795,000 | 14,515,000 | 15,628,000 | 15,628,000 | 14,569,000 | 14,171,000 | 15,134,000 | 14,338,000 | 14,027,000 | 12,780,000 | 12,010,000 | 18,857,000 | 12,572,000 | 11,093,000 | 12,120,000 | |||||||
total operating expenses | 51,746,000 | 46,040,000 | 50,976,000 | 49,944,000 | 50,140,000 | 45,765,000 | 47,643,000 | 46,092,000 | 46,802,000 | 39,979,000 | 38,157,000 | 45,397,000 | 42,216,000 | 34,818,000 | 33,287,000 | 34,264,000 | 31,979,000 | 30,685,000 | 28,018,000 | 26,437,000 | 24,666,000 | |
operating income | -15,273,000 | 8,524,000 | -8,419,000 | -5,461,000 | -11,903,000 | 14,802,000 | -1,365,000 | -3,985,000 | -5,525,000 | 20,413,000 | -571,000 | -7,134,000 | -10,672,000 | 16,523,000 | 9,622,000 | 9,794,000 | 4,581,000 | 27,966,000 | 14,048,000 | 10,133,000 | 6,642,000 | |
yoy | 28.31% | -42.41% | 516.78% | 37.04% | 115.44% | -27.49% | 139.05% | -44.14% | -48.23% | 23.54% | -105.93% | -172.84% | -332.96% | -40.92% | -31.51% | -3.35% | -31.03% | |||||
qoq | -279.18% | -201.25% | 54.17% | -54.12% | -180.41% | -1184.40% | -65.75% | -27.87% | -127.07% | -3674.96% | -92.00% | -33.15% | -164.59% | 71.72% | -1.76% | 113.80% | -83.62% | 99.07% | 38.64% | 52.56% | ||
operating margin % | -24.41% | 10.65% | -12.39% | -7.68% | -18.65% | 17.31% | -1.90% | -5.92% | -8.28% | 24.13% | -0.90% | -11.26% | -19.26% | 22.24% | 14.92% | 15.54% | 8.40% | 37.01% | 24.18% | 20.41% | 15.23% | |
interest income | 1,215,000 | 1,285,000 | 1,198,000 | 1,379,000 | 1,593,000 | 1,604,000 | 1,969,000 | 2,340,000 | 2,564,000 | 2,515,000 | 2,246,000 | 2,176,000 | 1,891,000 | 92,000 | 79,000 | 67,000 | 62,000 | |||||
other expense | -1,053,000 | |||||||||||||||||||||
income before income taxes | -15,111,000 | 9,598,000 | -8,158,000 | -6,070,000 | -11,324,000 | 18,420,000 | -326,000 | 2,383,000 | -2,703,000 | 23,045,000 | 1,885,000 | -5,179,000 | -9,246,000 | 5,163,000 | 4,724,000 | 9,746,000 | 6,182,000 | 7,765,000 | 14,325,000 | 9,894,000 | ||
benefit from income taxes | -2,601,000 | -1,838,000 | -249,000 | |||||||||||||||||||
net income | -12,510,000 | 6,684,000 | -6,452,000 | -5,208,000 | -9,486,000 | 13,899,000 | -912,000 | 1,971,000 | -2,454,000 | 18,702,000 | 1,774,000 | -5,724,000 | -5,871,000 | 12,781,000 | 3,326,000 | 7,819,000 | 4,779,000 | 28,239,000 | 13,526,000 | 9,921,000 | 4,918,000 | |
yoy | 31.88% | -51.91% | 607.46% | -364.23% | 286.55% | -25.68% | -151.41% | -134.43% | -58.20% | 46.33% | -46.66% | -173.21% | -222.85% | -54.74% | -75.41% | -21.19% | -2.83% | |||||
qoq | -287.16% | -203.60% | 23.89% | -45.10% | -168.25% | -1624.01% | -146.27% | -180.32% | -113.12% | 954.23% | -130.99% | -2.50% | -145.94% | 284.28% | -57.46% | 63.61% | -83.08% | 108.78% | 36.34% | 101.73% | ||
net income margin % | -19.99% | 8.35% | -9.49% | -7.33% | -14.86% | 16.26% | -1.27% | 2.93% | -3.68% | 22.11% | 2.79% | -9.04% | -10.60% | 17.20% | 5.16% | 12.40% | 8.76% | 37.37% | 23.29% | 19.98% | 11.28% | |
basic net loss per share of class a and class b stock | -0.27 | -0.2 | -0.05 | |||||||||||||||||||
diluted net loss per share of class a and class b stock | -0.27 | -0.2 | -0.05 | |||||||||||||||||||
weighted-average shares used for eps calculation | 45,933 | |||||||||||||||||||||
basic | 47,120 | 47,008 | 47,185 | 48,346 | 49,213 | 49,056 | 49,780 | 50,039 | 51,760 | 51,638 | 52,029 | 52,740,352 | 52,278,009 | 52,435,601 | 52,154,616 | 51,910,572 | 50,184,455 | 50,559,636 | 49,578,536 | 49,109,237 | ||
diluted | 47,120 | 47,008 | 47,185 | 48,346 | 54,294 | 49,056 | 55,577 | 50,039 | 56,027 | 55,979 | 52,029 | 52,740,352 | 56,908,197 | 56,944,230 | 56,847,306 | 56,888,179 | 56,628,574 | 56,498,891 | 56,428,211 | 56,784,558 | ||
other income | -211,000 | -937,000 | -1,988,000 | -1,014,000 | 2,014,000 | -930,000 | 4,028,000 | 258,000 | 117,000 | 210,000 | -221,000 | -465,000 | 252,000 | 198,000 | -306,000 | 137,000 | ||||||
provision for income taxes | 2,914,000 | -1,706,000 | -862,000 | 4,521,000 | 586,000 | 412,000 | 4,343,000 | 111,000 | 545,000 | -3,375,000 | 4,034,000 | 1,398,000 | 1,927,000 | 1,403,000 | 5,504,000 | 799,000 | -27,000 | 1,923,000 | ||||
basic and diluted net loss per share of class a and class b stock | -0.113 | -0.14 | ||||||||||||||||||||
weighted-average shares used for eps calculation | 45,933 | |||||||||||||||||||||
basic net income per share of class a and class b stock | -0.11 | -0.008 | -0.02 | 0.04 | -0.048 | 0.03 | -0.11 | |||||||||||||||
diluted net income per share of class a and class b stock | -0.11 | -0.008 | -0.02 | 0.04 | -0.048 | 0.03 | -0.11 | |||||||||||||||
net income per share | ||||||||||||||||||||||
basic | -0.11 | 0.24 | 0.06 | 0.15 | 0.09 | 0.56 | 0.27 | 0.2 | 0.1 | |||||||||||||
diluted | -0.11 | 0.22 | 0.06 | 0.14 | 0.08 | 0.5 | 0.24 | 0.18 | 0.09 | |||||||||||||
total other income | 292,000 | -4,898,000 | -48,000 | 1,601,000 | 5,777,000 | 277,000 | -239,000 | 199,000 | ||||||||||||||
general and administration | 10,977,000 | 10,750,000 | 10,168,000 | 8,875,000 | 8,580,000 | 8,139,000 | ||||||||||||||||
income before provision for income taxes | 6,841,000 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | ||||||||||||||||||||||
current assets | ||||||||||||||||||||||
cash and cash equivalents | 144,876,000 | 145,518,000 | 136,548,000 | 90,476,000 | 101,811,000 | 100,452,000 | 78,914,000 | 73,521,000 | 80,194,000 | 78,509,000 | 97,730,000 | 105,537,000 | 79,260,000 | 92,382,000 | 52,177,000 | 51,894,000 | 74,467,000 | 82,505,000 | 89,376,000 | 90,620,000 | 76,646,000 | 81,188,000 |
accounts receivable | 336,904,000 | 358,240,000 | 362,591,000 | 383,403,000 | 349,123,000 | 424,814,000 | 376,790,000 | 351,587,000 | 303,284,000 | 375,468,000 | 291,385,000 | 258,009,000 | 253,007,000 | 314,299,000 | 277,265,000 | |||||||
prepaid expenses and other current assets | 22,397,000 | 18,889,000 | 21,307,000 | 11,994,000 | 12,018,000 | 10,145,000 | 12,640,000 | 14,788,000 | 11,540,000 | 11,143,000 | 11,634,000 | 14,325,000 | 14,150,000 | 14,784,000 | 14,885,000 | 13,110,000 | 11,790,000 | 14,207,000 | 12,974,000 | 14,170,000 | 8,018,000 | 6,622,000 |
total current assets | 504,177,000 | 522,647,000 | 520,446,000 | 512,962,000 | 505,267,000 | 575,546,000 | 529,807,000 | 531,971,000 | 488,905,000 | 561,955,000 | 474,372,000 | 443,238,000 | 440,349,000 | 503,478,000 | 458,241,000 | 460,075,000 | 404,874,000 | 460,749,000 | 378,092,000 | 331,588,000 | 291,106,000 | 327,114,000 |
property, equipment and software - net | 50,139,000 | 52,657,000 | 64,104,000 | 46,790,000 | 50,140,000 | 51,927,000 | 43,601,000 | 33,958,000 | 30,044,000 | |||||||||||||
operating lease right-of-use assets | 36,267,000 | 38,149,000 | 39,993,000 | 41,888,000 | 42,575,000 | 44,402,000 | 34,440,000 | 21,915,000 | 23,473,000 | 21,102,000 | 21,768,000 | 23,306,000 | 24,841,000 | 26,206,000 | 27,733,000 | 27,482,000 | 24,973,000 | 21,613,000 | ||||
acquisition-related intangible assets | 2,309,000 | 2,704,000 | 3,099,000 | 3,494,000 | 3,889,000 | 4,284,000 | 4,679,000 | 5,074,000 | 5,469,000 | 5,864,000 | 6,259,000 | 6,654,000 | 7,049,000 | 8,299,000 | 8,819,000 | |||||||
goodwill | 29,577,000 | 29,577,000 | 29,577,000 | 29,577,000 | 29,577,000 | 29,577,000 | 29,577,000 | 29,577,000 | 29,577,000 | 29,577,000 | 29,577,000 | 29,577,000 | 29,577,000 | 29,577,000 | 29,832,000 | 6,250,000 | 6,250,000 | 6,250,000 | 6,250,000 | 6,250,000 | 6,250,000 | 6,250,000 |
deferred income tax asset | 32,409,000 | 30,986,000 | 2,906,000 | 2,155,000 | 515,000 | 495,000 | 495,000 | 498,000 | 762,000 | |||||||||||||
other assets, non-current | 4,563,000 | 3,475,000 | 3,408,000 | 1,826,000 | 3,289,000 | 2,324,000 | 2,683,000 | 1,817,000 | 3,669,000 | 2,136,000 | 4,436,000 | 1,964,000 | 2,152,000 | 2,412,000 | 2,095,000 | 9,414,000 | 12,567,000 | 10,948,000 | 2,081,000 | 1,844,000 | 1,658,000 | 7,076,000 |
total assets | 659,441,000 | 680,195,000 | 676,188,000 | 675,220,000 | 668,602,000 | 739,519,000 | 689,144,000 | 673,103,000 | 626,190,000 | 695,243,000 | 612,986,000 | 583,666,000 | 577,467,000 | 642,175,000 | 602,164,000 | 570,231,000 | 497,609,000 | 550,215,000 | 438,845,000 | 383,778,000 | 333,470,000 | 371,246,000 |
liabilities and stockholders' equity | ||||||||||||||||||||||
current liabilities | ||||||||||||||||||||||
accounts payable | 342,644,000 | 343,619,000 | 356,469,000 | 361,369,000 | 323,611,000 | 386,602,000 | 360,696,000 | 340,793,000 | 289,176,000 | 347,673,000 | 273,169,000 | 240,069,000 | 222,579,000 | 277,414,000 | 258,478,000 | 237,406,000 | 186,012,000 | 244,321,000 | 195,332,000 | 162,576,000 | 136,003,000 | 176,731,000 |
accrued liabilities | 18,616,000 | 25,278,000 | 25,617,000 | 20,983,000 | 20,309,000 | 26,365,000 | 25,697,000 | 22,550,000 | 19,763,000 | 25,684,000 | 25,031,000 | 22,871,000 | 19,314,000 | 18,936,000 | 14,819,000 | 12,509,000 | 10,676,000 | 17,661,000 | 13,780,000 | 9,250,000 | 14,844,000 | |
operating lease liabilities, current | 7,601,000 | 6,953,000 | 6,333,000 | 6,391,000 | 6,241,000 | 5,843,000 | 6,376,000 | 6,780,000 | 6,841,000 | 6,236,000 | 5,667,000 | 5,840,000 | 5,708,000 | 5,676,000 | 5,668,000 | 5,512,000 | 3,869,000 | 3,864,000 | ||||
total current liabilities | 368,861,000 | 375,850,000 | 388,419,000 | 388,743,000 | 350,161,000 | 418,810,000 | 392,769,000 | 370,123,000 | 315,780,000 | 379,593,000 | 303,867,000 | 268,780,000 | 247,601,000 | 302,026,000 | 278,965,000 | 255,427,000 | 200,557,000 | 266,965,000 | 212,993,000 | 176,356,000 | 145,253,000 | 191,575,000 |
operating lease liabilities, non-current | 34,779,000 | 36,910,000 | 38,255,000 | 38,857,000 | 38,649,000 | 39,538,000 | 28,978,000 | 16,199,000 | 17,613,000 | 15,607,000 | 16,809,000 | 18,178,000 | 19,785,000 | 20,915,000 | 22,465,000 | 22,642,000 | 21,293,000 | 17,842,000 | ||||
other liabilities, non-current | 4,801,000 | 4,846,000 | 4,454,000 | 4,336,000 | 4,191,000 | 3,908,000 | 4,196,000 | 4,052,000 | 4,067,000 | 3,844,000 | 3,736,000 | 2,180,000 | 3,725,000 | 6,473,000 | 4,919,000 | 2,179,000 | 1,986,000 | 2,161,000 | 2,317,000 | 2,789,000 | 2,554,000 | 2,683,000 |
total liabilities | 408,441,000 | 417,606,000 | 431,128,000 | 431,936,000 | 393,001,000 | 462,256,000 | 425,943,000 | 390,374,000 | 337,460,000 | 399,044,000 | 324,412,000 | 289,138,000 | 271,111,000 | 329,987,000 | 309,561,000 | 286,315,000 | 229,903,000 | 293,035,000 | 218,008,000 | 181,697,000 | 149,384,000 | 195,819,000 |
commitments and contingencies | ||||||||||||||||||||||
stockholders' equity | ||||||||||||||||||||||
preferred stock, 0.0001 par value per share... | ||||||||||||||||||||||
common stock, 0.0001 par value per share... | 7,000 | 6,000 | 6,000 | 6,000 | 6,000 | 6,000 | 6,000 | |||||||||||||||
treasury stock | -202,296,000 | -193,471,000 | -193,041,000 | -190,687,000 | -150,409,000 | -146,796,000 | -136,275,000 | -107,097,000 | -86,857,000 | -71,103,000 | -50,804,000 | -34,966,000 | -19,384,000 | -11,486,000 | -11,486,000 | -11,486,000 | -11,486,000 | -11,486,000 | -11,486,000 | -11,486,000 | -11,461,000 | -11,434,000 |
additional paid-in capital | 330,962,000 | 321,062,000 | 309,789,000 | 299,113,000 | 286,471,000 | 275,304,000 | 264,013,000 | 253,455,000 | 241,179,000 | 230,419,000 | 221,205,000 | 213,115,000 | 203,597,000 | 195,677,000 | 189,085,000 | 183,890,000 | 175,351,000 | 169,401,000 | 161,261,000 | 156,031,000 | 147,932,000 | 144,163,000 |
accumulated other comprehensive income | -86,000 | 68,000 | 67,000 | 161,000 | 8,000 | -36,000 | 1,000 | |||||||||||||||
retained earnings | 122,413,000 | 134,923,000 | 128,239,000 | 134,691,000 | 139,899,000 | 149,385,000 | 135,486,000 | 136,398,000 | 134,427,000 | 136,881,000 | 118,179,000 | 116,405,000 | 122,129,000 | 128,000,000 | 115,219,000 | 111,893,000 | 104,074,000 | 99,295,000 | 71,056,000 | 57,530,000 | 47,609,000 | 42,691,000 |
total stockholders’ equity | 251,000,000 | 262,589,000 | 245,060,000 | 243,284,000 | 275,601,000 | 277,263,000 | 263,201,000 | 282,729,000 | 288,730,000 | 296,199,000 | 288,574,000 | 294,528,000 | 306,356,000 | 292,603,000 | 283,916,000 | 267,706,000 | ||||||
total liabilities and stockholders' equity | 659,441,000 | 680,195,000 | 676,188,000 | 675,220,000 | 668,602,000 | 739,519,000 | 689,144,000 | 673,103,000 | 626,190,000 | 695,243,000 | 612,986,000 | 583,666,000 | 577,467,000 | 642,175,000 | 602,164,000 | 570,231,000 | 497,609,000 | 550,215,000 | 438,845,000 | 383,778,000 | 333,470,000 | |
marketable securities | 27,089,000 | 42,315,000 | 40,135,000 | 61,463,000 | 92,075,000 | 93,887,000 | 96,835,000 | 73,623,000 | 65,367,000 | 93,932,000 | 82,013,000 | 113,914,000 | 131,097,000 | 100,258,000 | 77,121,000 | 47,355,000 | 31,370,000 | 33,371,000 | 19,793,000 | |||
common stock, par value 0.0001... | 7,000 | 6,000 | 6,000 | 6,000 | 6,000 | 6,000 | 6,000 | 6,000 | 6,000 | 6,000 | 6,000 | 6,000 | 6,000 | 6,000 | 6,000 | |||||||
property, equipment and software | 51,396,000 | 51,584,000 | 54,386,000 | 58,522,000 | 63,247,000 | 60,137,000 | 56,550,000 | 60,729,000 | 61,915,000 | 65,663,000 | 68,553,000 | 71,156,000 | 74,975,000 | |||||||||
deferred tax assets | 28,269,000 | 33,889,000 | 29,619,000 | 24,864,000 | 24,711,000 | 22,612,000 | 18,547,000 | 13,880,000 | 14,659,000 | 13,264,000 | 4,946,000 | 1,047,000 | 469,000 | |||||||||
accumulated other comprehensive loss | -366,000 | -636,000 | -29,000 | -33,000 | -25,000 | -4,000 | -12,000 | -32,000 | -9,000 | -221,000 | -387,000 | -239,000 | ||||||||||
deferred tax liabilities | 573,000 | 3,212,000 | ||||||||||||||||||||
total stockholders' equity | 312,188,000 | 257,180,000 | 220,837,000 | 202,081,000 | 184,086,000 | 175,427,000 | ||||||||||||||||
accounts receivable - net | 263,974,000 | 218,359,000 | 286,916,000 | 228,387,000 | 195,428,000 | 173,071,000 | 219,511,000 | |||||||||||||||
deferred tax liability | 6,067,000 | 6,067,000 | 6,067,000 | 2,698,000 | 2,552,000 | 1,577,000 | 1,561,000 | |||||||||||||||
accrued expenses and other current liabilities | 18,780,000 | |||||||||||||||||||||
liabilities, convertible preferred stock, redeemable common stock, and stockholders' equity | ||||||||||||||||||||||
convertible preferred stock, par value of 0.0001 per share; no shares authorized, issued and outstanding as of december 31, 2020; 34,000,000 shares authorized as of december 31, 2019; 33,443,969 shares issued and outstanding as of december 31, 2019; aggregate liquidation preference of 62,939 as of december 31, 2019. | ||||||||||||||||||||||
redeemable common stock, zero and 5,901,863 shares as of december 31, 2020 and 2019, respectively. | ||||||||||||||||||||||
total liabilities, convertible preferred stock, redeemable common stock, and stockholders' equity | 371,246,000 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
operating activities: | |||||||||||||||||||||
net loss | -12,510,000 | -6,452,000 | -5,208,000 | -9,486,000 | -912,000 | 1,971,000 | -2,454,000 | ||||||||||||||
adjustments to reconcile net loss to net cash from operating activities: | |||||||||||||||||||||
depreciation and amortization | 9,988,000 | 9,773,000 | 10,459,000 | 11,861,000 | 11,676,000 | 11,421,000 | 11,383,000 | 11,336,000 | 11,212,000 | 11,039,000 | 11,401,000 | 10,898,000 | 11,432,000 | 10,662,000 | 9,082,000 | 7,322,000 | 7,183,000 | 7,081,000 | 6,304,000 | 5,138,000 | 4,550,000 |
stock-based compensation | 8,488,000 | 9,368,000 | 9,511,000 | 9,801,000 | 9,698,000 | 9,409,000 | 9,457,000 | 9,699,000 | 9,111,000 | 7,337,000 | 7,200,000 | 7,266,000 | 7,059,000 | 5,464,000 | 4,655,000 | 5,391,000 | 5,136,000 | 3,599,000 | 3,714,000 | 3,629,000 | 3,165,000 |
deferred income taxes | -1,423,000 | -2,717,000 | -2,748,000 | -4,270,000 | -4,754,000 | -153,000 | -2,099,000 | -4,065,000 | -4,667,000 | 779,000 | -630,000 | -9,228,000 | -4,327,000 | -3,217,000 | -1,553,000 | -751,000 | -1,645,000 | 3,349,000 | 146,000 | 978,000 | 280,000 |
accretion of discount on marketable securities | 0 | -3,000 | -365,000 | -454,000 | -565,000 | -1,092,000 | -1,226,000 | -1,234,000 | -1,032,000 | -1,019,000 | -985,000 | -1,057,000 | -407,000 | -155,000 | -38,000 | 23,000 | 1,000 | -18,000 | |||
non-cash operating lease expense | 1,840,000 | 1,818,000 | 1,782,000 | 1,928,000 | 1,623,000 | 1,785,000 | 1,690,000 | 1,538,000 | 1,535,000 | 1,532,000 | 1,294,000 | 1,726,000 | 1,272,000 | ||||||||
other | -676,000 | -183,000 | -586,000 | -55,000 | -223,000 | 53,000 | -79,000 | 2,000 | -1,000 | 42,000 | -1,000 | 7,000 | -3,000 | -8,000 | -1,000 | 45,000 | 54,000 | 47,000 | -4,000 | 0 | 2,000 |
changes in operating assets and liabilities: | |||||||||||||||||||||
accounts receivable | 21,335,000 | 4,351,000 | 20,811,000 | -34,279,000 | 75,691,000 | -48,023,000 | -25,203,000 | -48,303,000 | 72,184,000 | -84,083,000 | -33,376,000 | -19,549,000 | 61,292,000 | -37,034,000 | -10,316,000 | -45,615,000 | 68,557,000 | -58,529,000 | -32,959,000 | -22,357,000 | 46,440,000 |
prepaid expenses and other assets | 4,082,000 | -1,881,000 | -6,021,000 | 5,681,000 | 1,843,000 | -3,201,000 | -196,000 | 2,594,000 | 13,000 | 894,000 | |||||||||||
accounts payable | -997,000 | -12,416,000 | -4,116,000 | 36,713,000 | -62,578,000 | 29,255,000 | 23,609,000 | 43,676,000 | -58,444,000 | 75,546,000 | 34,219,000 | 25,309,000 | -55,387,000 | 25,750,000 | 17,711,000 | 44,890,000 | -58,588,000 | 51,653,000 | 31,773,000 | 25,787,000 | -40,912,000 |
accrued liabilities | -11,382,000 | 15,750,000 | 5,988,000 | 5,728,000 | -11,287,000 | 7,368,000 | 2,203,000 | 1,840,000 | -1,784,000 | -179,000 | 1,339,000 | 2,708,000 | -833,000 | 3,782,000 | |||||||
operating lease liabilities | -1,444,000 | -704,000 | -584,000 | -738,000 | -590,000 | -1,790,000 | -1,771,000 | -1,590,000 | -1,380,000 | -1,507,000 | -1,542,000 | -1,475,000 | -1,265,000 | -1,554,000 | -1,600,000 | -1,208,000 | -1,177,000 | ||||
other liabilities, non-current | -6,000 | 429,000 | 157,000 | -44,000 | 319,000 | -257,000 | 177,000 | 20,000 | 257,000 | 73,000 | 348,000 | -602,000 | -712,000 | 1,841,000 | 365,000 | 222,000 | -139,000 | -561,000 | -472,000 | 235,000 | -129,000 |
net cash from operating activities | 17,295,000 | 18,159,000 | 32,374,000 | 14,905,000 | 15,621,000 | 18,048,000 | 19,139,000 | 11,944,000 | 24,294,000 | 28,674,000 | 23,845,000 | 15,848,000 | 12,754,000 | 19,358,000 | 28,072,000 | 20,468,000 | 19,314,000 | 28,479,000 | 26,439,000 | 21,076,000 | 12,687,000 |
capital expenditures | -6,590,000 | -4,417,000 | -9,588,000 | -5,640,000 | -8,321,000 | -4,868,000 | -16,273,000 | -5,031,000 | -8,032,000 | -3,962,000 | -6,678,000 | -5,053,000 | -7,418,000 | -3,122,000 | -16,953,000 | -14,247,000 | -3,867,000 | -1,495,000 | -12,555,000 | -12,921,000 | -3,010,000 |
free cash flows | 10,705,000 | 13,742,000 | 22,786,000 | 9,265,000 | 7,300,000 | 13,180,000 | 2,866,000 | 6,913,000 | 16,262,000 | 24,712,000 | 17,167,000 | 10,795,000 | 5,336,000 | 16,236,000 | 11,119,000 | 6,221,000 | 15,447,000 | 26,984,000 | 13,884,000 | 8,155,000 | 9,677,000 |
investing activities: | |||||||||||||||||||||
purchases of property and equipment | -11,000 | -4,674,000 | -1,340,000 | -1,441,000 | -11,731,000 | -736,000 | -801,000 | -2,872,000 | -1,135,000 | -1,417,000 | -14,577,000 | -12,236,000 | -148,000 | -11,038,000 | -11,546,000 | -262,000 | |||||
capitalized software development costs | -6,579,000 | -4,417,000 | -4,914,000 | -4,300,000 | -6,880,000 | -4,868,000 | -4,542,000 | -4,295,000 | -7,231,000 | -3,962,000 | -3,806,000 | -3,918,000 | -6,001,000 | -3,427,000 | -2,820,000 | -2,542,000 | -4,235,000 | -2,174,000 | -1,927,000 | -1,810,000 | -3,018,000 |
purchases of marketable securities | 0 | 0 | -10,719,000 | -15,307,000 | -24,039,000 | -21,412,000 | -62,229,000 | -34,336,000 | -63,671,000 | -30,217,000 | -6,372,000 | -40,343,000 | -37,680,000 | -17,497,000 | -43,194,000 | -39,422,000 | -37,444,000 | -20,567,000 | -9,383,000 | -23,168,000 | |
proceeds from maturities of marketable securities | 0 | 0 | 26,300,000 | 13,559,000 | 45,900,000 | 53,200,000 | 65,258,000 | 38,500,000 | 41,500,000 | 23,000,000 | 17,000,000 | 29,500,000 | 70,200,000 | 35,000,000 | 12,200,000 | 16,000,000 | 7,600,000 | 4,600,000 | 11,400,000 | 9,600,000 | |
purchase of equity investment | -3,000,000 | ||||||||||||||||||||
net cash from investing activities | -9,590,000 | -11,307,000 | 17,507,000 | 9,941,000 | -10,069,000 | 12,669,000 | 15,515,000 | -2,002,000 | -3,868,000 | -31,310,000 | -13,895,000 | 24,448,000 | -18,261,000 | 20,185,000 | -27,979,000 | -45,772,000 | -27,805,000 | -39,604,000 | -28,932,000 | -11,339,000 | -16,848,000 |
financing activities: | |||||||||||||||||||||
proceeds from exercise of stock options | 477,000 | 264,000 | 321,000 | 611,000 | 563,000 | 187,000 | 304,000 | 335,000 | 939,000 | 339,000 | 273,000 | 623,000 | 314,000 | 135,000 | 222,000 | 357,000 | 481,000 | 2,096,000 | 1,249,000 | 1,627,000 | 451,000 |
principal payments on finance lease obligations | -36,000 | -35,000 | -35,000 | -35,000 | -35,000 | -33,000 | -33,000 | -33,000 | -32,000 | -33,000 | -31,000 | -31,000 | -31,000 | -31,000 | -32,000 | -28,000 | -28,000 | ||||
payments to acquire treasury stock | -8,500,000 | 1,152,000 | -4,001,000 | -38,649,000 | -5,000,000 | -9,932,000 | -29,532,000 | -18,368,000 | -17,500,000 | -17,789,000 | -17,999,000 | -15,582,000 | -7,898,000 | 0 | 0 | -25,000 | -27,000 | ||||
net cash from financing activities | -8,059,000 | 2,172,000 | -3,715,000 | -36,716,000 | -4,472,000 | -8,861,000 | -29,261,000 | -16,615,000 | -18,741,000 | -16,585,000 | -17,757,000 | -14,019,000 | -7,615,000 | 662,000 | 190,000 | 2,731,000 | 453,000 | 4,254,000 | 1,249,000 | 4,237,000 | -381,000 |
net increase in cash and cash equivalents | -354,000 | 9,024,000 | 1,080,000 | 21,856,000 | 5,393,000 | -6,673,000 | 1,685,000 | -19,221,000 | -7,807,000 | 40,205,000 | 283,000 | -6,871,000 | -1,244,000 | 13,974,000 | -4,542,000 | ||||||
effect of foreign exchange rates on cash and cash equivalents | -288,000 | -94,000 | 535,000 | 279,000 | |||||||||||||||||
cash and cash equivalents - beginning of period | 145,518,000 | 0 | 0 | 100,452,000 | 0 | 0 | 78,509,000 | 0 | 0 | 92,382,000 | 0 | 0 | 82,505,000 | 0 | 0 | 81,188,000 | |||||
cash and cash equivalents - end of period | 144,876,000 | 46,072,000 | -11,335,000 | 101,811,000 | 5,393,000 | -6,673,000 | 80,194,000 | -7,807,000 | 26,277,000 | 79,260,000 | 283,000 | -22,573,000 | 74,467,000 | -1,244,000 | 13,974,000 | 76,646,000 | |||||
supplemental disclosures of cash flow information: | |||||||||||||||||||||
income taxes paid | 1,450,000 | 1,066,000 | 6,334,000 | 885,000 | 3,844,000 | 4,541,000 | 4,758,000 | 1,033,000 | 4,113,000 | 1,019,000 | 10,150,000 | 349,000 | 1,626,000 | 5,722,000 | 1,519,000 | 323,000 | 2,341,000 | 857,000 | 3,396,000 | 192,000 | |
supplemental disclosures of non-cash investing and financing information: | |||||||||||||||||||||
stock-based compensation capitalized as internal-use software costs | 935,000 | 844,000 | 873,000 | 906,000 | 796,000 | 792,000 | 710,000 | 617,000 | 658,000 | 547,000 | |||||||||||
property and equipment included in accounts payable and accrued liabilities | 34,000 | -776,000 | 1,018,000 | 194,000 | -3,706,000 | 7,828,000 | 148,000 | -1,121,000 | 1,039,000 | 1,311,000 | |||||||||||
capitalized software costs included in accounts payable and accrued liabilities | 657,000 | 240,000 | 844,000 | 673,000 | 735,000 | 878,000 | 917,000 | 602,000 | 865,000 | 820,000 | |||||||||||
cash flow from operating activities: | |||||||||||||||||||||
net income | 18,702,000 | 1,774,000 | -5,724,000 | -5,871,000 | 12,781,000 | 3,326,000 | 7,819,000 | 4,779,000 | 28,239,000 | 13,526,000 | 9,921,000 | 4,918,000 | |||||||||
adjustments to reconcile net income to net cash from operating activities: | |||||||||||||||||||||
provision for doubtful accounts | 0 | 0 | |||||||||||||||||||
non-cash lease expense | |||||||||||||||||||||
prepaid expenses and other current assets | -241,000 | -1,901,000 | -1,507,000 | 2,054,000 | 959,000 | -6,338,000 | -1,241,000 | ||||||||||||||
cash flows from investing activities: | |||||||||||||||||||||
purchases of and deposits on property and equipment | |||||||||||||||||||||
proceeds from sales of marketable securities | 0 | 0 | 0 | ||||||||||||||||||
cash flows from financing activities: | |||||||||||||||||||||
payment of business combination indemnification claims holdback | 0 | 0 | 0 | -2,148,000 | |||||||||||||||||
proceeds from issuance of common stock for employee stock purchase plan | 917,000 | 0 | 898,000 | 0 | 558,000 | 0 | 2,169,000 | 0 | |||||||||||||
effect of foreign currency on cash | |||||||||||||||||||||
cash and cash equivalents - beginning of year | |||||||||||||||||||||
cash and cash equivalents - end of year | |||||||||||||||||||||
stock-based compensation capitalized as internal use software costs | 389,000 | 333,000 | 275,000 | 267,000 | 208,000 | 153,000 | |||||||||||||||
property and equipment included in accounts payable and accrued expenses | -6,801,000 | 713,000 | 6,503,000 | 334,000 | -2,663,000 | 984,000 | 782,000 | 946,000 | |||||||||||||
capitalized software costs included in accounts payable and accrued expenses | 305,000 | 444,000 | 531,000 | 516,000 | 679,000 | 410,000 | 435,000 | 270,000 | |||||||||||||
business combination purchase consideration - indemnification claims holdback | 0 | 0 | 0 | 2,148,000 | -449,000 | ||||||||||||||||
proceeds from issuance of common stock for the 2020 employee stock purchase plan | 0 | ||||||||||||||||||||
net decrease in cash and cash equivalents | -13,122,000 | -8,038,000 | |||||||||||||||||||
unrealized loss and impairment of equity investment | 0 | ||||||||||||||||||||
business combination, net of cash acquired | 0 | ||||||||||||||||||||
proceeds from initial public offering, net of underwriting discounts and commissions | |||||||||||||||||||||
unrealized gain on equity investment | 915,000 | -1,373,000 | |||||||||||||||||||
operating lease right-of-use assets obtained in exchange for new lease obligations | 167,000 | 1,545,000 | 4,235,000 | 4,632,000 | |||||||||||||||||
purchase of equity securities | |||||||||||||||||||||
proceeds from repayments of stockholders’ notes receivable | |||||||||||||||||||||
deferred offering costs included in accounts payable and accrued liabilities | |||||||||||||||||||||
payments for offering costs | 0 | 0 | -805,000 | ||||||||||||||||||
accrued expenses | 1,257,000 | -6,822,000 | 335,000 | 3,470,000 | 4,098,000 | -4,373,000 | |||||||||||||||
impairment of internally developed software | |||||||||||||||||||||
change in fair value of preferred stock warrant liability | |||||||||||||||||||||
proceeds from initial public offering, net of underwriting discounts and commissions and other offering costs | |||||||||||||||||||||
non-cash exercise of convertible preferred stock warrant | |||||||||||||||||||||
deferred offering costs incurred during the period included in accounts payable and accrued expenses | |||||||||||||||||||||
amortization of premiums on marketable securities | -13,000 | ||||||||||||||||||||
payments on revolving line of credit | |||||||||||||||||||||
issuance of stockholders’ notes receivable | |||||||||||||||||||||
payments on cancellation of stock options |