Overview

• US ad tech firm's preliminary Q1 revenue beat analyst expectations

• Preliminary adjusted EBITDA for Q1 also exceeded company guidance

• Company announces CRO and CGO departures, begins global CRO search

Outlook

• Company expects organizational changes to position it for accelerated, long-term profitable growth

• PubMatic sees continued momentum from rapid adoption of its AI solutions

Result Drivers

• AI SOLUTIONS ADOPTION - Co said fastest-ever adoption of new AI solutions drove business momentum and Q1 outperformance

• STRONG EXECUTION - Co attributed Q1 results above guidance to strong execution across the business

Company press release: ID:nBw1GZmqva

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 Revenue	Beat	$62.40 mln	$58.68 mln (12 Analysts)

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the software peer group is "buy"

• Wall Street's median 12-month price target for PubMatic Inc is $10.75, about 13.5% above its April 21 closing price of $9.47

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