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Dollar-Based Net Retention Rate
Measures revenue growth from existing customers, indicating customer satisfaction, product value, and the potential for upselling or cross-selling.Dollar‑based net retention has moved from a post‑pandemic peak into a multi‑quarter erosion that dipped below 100% in 2023–2025, signaling existing customers are, on net, spending less and PubMatic must rely on new logos for growth. The 2024 uptick aligns with early traction in AI, CTV and mobile, but the 2025 pullback likely reflects the legacy DSP transition and political ad weakness in the Americas. Management’s thesis—lapping the DSP headwind by Q2 and driving retention with AgenticOS/CTV—needs proof in H1 2026 before assuming durable margin and revenue upside.
Date | Dollar-Based Net Retention Rate |
|---|---|
Jun 30, 2026 | 98.00 |
Mar 31, 2026 | 96.00 |
Dec 31, 2025 | 96.00 |
Sep 30, 2025 | 98.00 |
Jun 30, 2025 | 102.00 |
Mar 31, 2025 | 102.00 |
Dec 31, 2024 | 107.00 |
Sep 30, 2024 | 112.00 |
Jun 30, 2024 | 108.00 |
Mar 31, 2024 | 106.00 |