PubMatic Inc (NASDAQ:PUBM) rose in Friday trading after the company reported better-than-expected Q1 sales results and raised Q2 and FY21 sales guidance above estimates.
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.
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.
Said CEO Rajeev Goel, "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.
"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."
The company also processed 18.5 trillion impressions in the first quarter, a 106% increase over a year ago. It also announced a partnership with Samba TV to integrate their extensive first-party Connected TV data and deliver TV audience targeting to programmatic advertising buyers.
PUBM shares hiked $2.69, or 7.8%, to $82.48
