PubMatic, Inc. (PUBM) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Cash from Operations | 17.3M | 18.16M | 32.37M | 14.9M | 15.62M | 18.05M | 19.14M | 11.94M | 24.29M | 28.67M | 23.84M | 15.85M | 12.75M | 19.36M | 28.07M | 20.47M | 19.31M | 28.48M | 26.44M | 21.08M |
| Operating CF Margin % | 27.64% | 22.69% | 47.64% | 20.96% | 24.47% | 21.11% | 26.66% | 17.76% | 36.42% | 33.89% | 37.45% | 25.02% | 23.02% | 26.06% | 43.52% | 32.47% | 35.4% | 37.69% | 45.52% | 42.44% |
| Operating CF Growth % | 10.72% | 0.61% | 69.15% | 24.79% | -35.7% | -37.06% | -19.74% | -24.63% | 90.48% | 48.12% | -15.06% | -22.57% | -33.97% | -32.03% | 6.18% | -2.88% | 52.23% | 230.23% | 617.67% | - |
| Net Income | -12.51M | 6.68M | -6.45M | -5.21M | -9.49M | 13.9M | -912K | 1.97M | -2.45M | 18.7M | 1.77M | -5.72M | -5.87M | 12.78M | 3.33M | 7.82M | 4.78M | 28.24M | 13.53M | 9.92M |
| Depreciation & Amortization | 9.99M | 9.77M | 10.46M | 11.86M | 11.68M | 11.42M | 11.38M | 11.34M | 11.21M | 11.04M | 11.4M | 10.9M | 11.43M | 10.66M | 9.08M | 7.32M | 7.18M | 7.08M | 6.3M | 5.14M |
| Stock-Based Compensation | 8.49M | 9.37M | 9.51M | 9.8M | 9.7M | 9.41M | 9.46M | 9.7M | 9.11M | 7.34M | 7.2M | 7.27M | 7.06M | 5.46M | 4.66M | 5.39M | 5.14M | 3.6M | 3.71M | 3.63M |
| Deferred Taxes | -1.42M | -2.72M | -2.75M | -4.27M | -4.75M | -153K | -2.1M | -4.07M | -4.67M | 779K | -630K | -9.23M | -4.33M | -3.22M | -1.55M | -751K | -1.65M | 3.35M | 146K | 978K |
| Other Non-Cash Items | 1.16M | 1.64M | 1.23M | 1.36M | 1.25M | 1.19M | 452K | 561K | 455K | 550K | 518K | 6.23M | 472K | 1.12M | 7.54M | 2.65M | -24K | -3.34M | 418K | 467K |
| Working Capital Changes | 11.59M | -6.59M | 20.38M | 1.36M | 7.24M | -17.72M | 858K | -7.56M | 10.64M | -9.73M | 3.58M | 6.4M | 3.99M | -7.46M | 5.02M | -1.96M | 3.88M | -10.45M | 2.33M | 943K |
| Change in Receivables | 21.34M | 4.35M | 20.81M | -34.28M | 75.69M | -48.02M | -25.2M | -48.3M | 72.18M | -84.08M | -33.38M | -19.55M | 61.29M | -37.03M | -10.32M | -45.62M | 68.56M | -58.53M | -32.96M | -22.36M |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | -997K | -12.42M | -4.12M | 36.71M | -62.58M | 29.25M | 23.61M | 43.68M | -58.44M | 75.55M | 34.22M | 25.31M | -55.39M | 25.75M | 17.71M | 44.89M | -58.59M | 51.65M | 31.77M | 25.79M |
| Cash from Investing | -9.59M | -11.31M | 17.51M | 9.94M | -10.07M | 12.67M | 15.52M | -2M | -3.87M | -31.31M | -13.89M | 24.45M | -18.26M | 20.18M | -27.98M | -45.77M | -27.8M | -39.6M | -28.93M | -11.34M |
| Capital Expenditures | -11K | -6.89M | -4.67M | -1.34M | -1.44M | -9.19M | -11.73M | -736K | -801K | -5.18M | -2.87M | -1.14M | -1.42M | -8.91M | -14.58M | -12.24M | -148K | -7.59M | -11.04M | -11.55M |
| CapEx % of Revenue | 0.02% | 8.61% | 6.88% | 1.88% | 2.26% | 10.75% | 16.34% | 1.09% | 1.2% | 6.12% | 4.51% | 1.79% | 2.56% | 11.99% | 22.6% | 19.41% | 0.27% | 10.04% | 19% | 23.25% |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | -6.58M | -4.42M | -4.91M | -4.3M | -6.88M | 0 | -4.54M | -4.29M | -7.23M | -3.96M | -3.81M | -3.92M | -6M | -3.43M | -30.91M | -2.54M | -4.24M | -2.17M | -1.93M | -1.81M |
| Cash from Financing | -8.06M | 2.17M | -3.71M | -36.72M | -4.47M | -8.86M | -29.26M | -16.61M | -18.74M | -16.59M | -17.76M | -14.02M | -7.62M | 662K | 190K | 2.73M | 453K | 4.25M | 1.25M | 4.24M |
| Debt Issued (Net) | -36K | -35K | -35K | -35K | -35K | -33K | -33K | -33K | -32K | -33K | -31K | -31K | -31K | -31K | -32K | -28K | -28K | 0 | 0 | 0 |
| Equity Issued (Net) | -8.02M | 2.21M | -4M | -38.65M | -5M | -8.83M | -29.53M | -18.37M | -17.5M | -17.79M | -18M | -15.58M | -7.9M | 0 | 0 | 0 | 0 | -806K | 0 | -25K |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | -8.5M | 1.15M | -4M | -38.65M | -5M | -9.93M | -29.53M | -18.37M | -17.5M | -17.79M | -18M | -15.58M | -7.9M | 0 | 0 | 0 | 0 | -806K | 0 | -25K |
| Other Financing | 0 | 0 | 321K | 1.97M | 563K | 0 | 304K | 1.79M | -1.21M | 1.24M | 273K | 1.59M | 314K | 693K | 222K | 2.76M | 481K | 5.06M | 1.25M | 4.26M |
| Net Change in Cash | -642K | 8.97M | 46.07M | -11.34M | 1.36M | 21.54M | 5.39M | -6.67M | 1.69M | -19.22M | -7.81M | 26.28M | -13.12M | 40.2M | 283K | -22.57M | -8.04M | -6.87M | -1.24M | 13.97M |
| Free Cash Flow | 17.28M | -6.79M | 22.79M | 9.27M | 7.3M | 8.86M | 2.87M | 6.91M | 16.26M | 19.54M | 17.17M | 10.79M | 5.34M | 7.02M | 10.68M | 5.69M | 14.93M | 18.72M | 13.47M | 7.72M |
| FCF Margin % | 27.62% | -8.48% | 33.53% | 13.03% | 11.44% | 10.36% | 3.99% | 10.28% | 24.38% | 23.09% | 26.96% | 17.05% | 9.63% | 9.45% | 16.55% | 9.03% | 27.37% | 24.77% | 23.2% | 15.55% |
| FCF Growth % | 136.77% | -176.68% | 695.05% | 34.02% | -55.11% | -54.67% | -83.31% | -35.96% | 204.76% | 178.16% | 60.81% | 89.72% | -64.26% | -62.48% | -20.77% | -26.3% | 58.72% | 539.83% | 514.58% | - |
| FCF per Share | 0.37 | -0.14 | 0.50 | 0.20 | 0.15 | 0.17 | 0.06 | 0.12 | 0.32 | 0.36 | 0.31 | 0.21 | 0.10 | 0.12 | 0.19 | 0.10 | 0.26 | 0.33 | 0.24 | 0.14 |
| FCF Conversion (FCF/Net Income) | -1.38x | 2.72x | -5.02x | -2.86x | -1.65x | 1.30x | -20.99x | 6.06x | -9.90x | 1.53x | 13.44x | -2.77x | -2.17x | 1.51x | 8.44x | 2.62x | 4.04x | 1.01x | 1.95x | 2.12x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 1.07M | 6.33M | 885K | 0 | 4.54M | 4.76M | 1.03M | 4.11M | 1.02M | 10.15M | 349K | 1.63M | 5.72M | 1.52M | 323K | 2.34M | 857K | 3.4M |