REDWOOD CITY, Calif. – Stephen Pantelek, CFO of PubMatic, Inc., announced the announcement. (NASDAQ:PUBM), announced the sale of 10,040 shares of the company's Class A common stock, according to a recent filing with the Securities and Exchange Commission. The transaction, which closed on January 2, 2025, was executed at a weighted average price of $14.8377 per share, for a total of approximately $148,970. according to InvestingPro PubMatic, currently valued at $733 million, shows strong financial health with more cash than debt on its balance sheet.
The sale was part of a trade deal involving multiple security holders, at prices ranging from $14.61 to $15.09 per share. The shares were sold to cover tax withholding obligations related to the vesting and settlement of restricted stock units (RSUs).
Following this transaction, Pantelick continues to directly hold 38,285 shares. In addition to the sale, Pantelick acquired an aggregate of 25,819 shares of Class A common stock through vesting of RSUs on December 31, 2024 and January 1, 2025, at no cost.
The transactions highlight the ongoing management of stock holdings by PubMatic's executive team as they navigate stock-based compensation and tax liabilities.
In other recent news, PubMatic, a digital advertising technology company, reported a 13% year-over-year revenue increase in Q3 2024, beating market expectations. Revenue growth was driven by significant advances in Connected TV (CTV) and the innovative use of generative AI in political advertising. The company's adjusted EBITDA was $18.5 million, reflecting a healthy margin of 26%.
PubMatic has also expanded its partnership with western union (NYSE:), a move aimed at enhancing monetization on the site and simplifying the latter's advertising strategies. The collaboration will use PubMatic's Selling Side Platform (SSP) to leverage Western Union's first-party data to expand the audience.
In addition to these developments, PubMatic's mobile app business maintained its growth trajectory, expanding by more than 20% for the fourth consecutive quarter. The company also introduced an AI-powered political ad classification tool and a CTV marketplace to organize inventory.
Looking ahead, PubMatic raised its full-year revenue guidance to between $292 million and $296 million, with fourth-quarter revenue expected to fall between $86 million and $90 million. The company remains cautiously optimistic about the upcoming holiday season and growth in 2025, with investments in artificial intelligence technologies set to boost efficiency and productivity. These are the latest developments in the company's operations.
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