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Operating Expense Breakdown
Details core costs like R&D, marketing, and admin, offering insight into how efficiently the company runs and where it’s prioritizing investment.Sales & marketing is the largest and most variable line, rising sharply as PubMatic scales go‑to‑market and diversifies buyers; technology & development shows steady acceleration, reflecting heavy investment in AI/AgenticOS and infrastructure to drive future efficiency and product differentiation. G&A is more episodic (notably mid‑2023), consistent with one‑offs, legal and comp timing. In short, OpEx is shifting from fixed overhead to growth and platform spend—pressureing near‑term margins but aligning with management’s thesis that AI efficiency and product scale should re‑accelerate revenue and expand margins in H2 2026.
Date | Sales and Marketing | General and Administrative | Technology and Development |
|---|---|---|---|
Jun 30, 2026 | $26.13M | $16.86M | $9.15M |
Mar 31, 2026 | $28.96M | $14.79M | $7.99M |
Dec 31, 2025 | $25.21M | $14.52M | $6.32M |
Sep 30, 2025 | $25.73M | $15.63M | $9.62M |
Jun 30, 2025 | $25.20M | $15.63M | $9.12M |
Mar 31, 2025 | $26.80M | $14.57M | $8.77M |
Dec 31, 2024 | $23.76M | $14.17M | $7.83M |
Sep 30, 2024 | $23.70M | $15.13M | $8.81M |
Jun 30, 2024 | $23.09M | $14.34M | $8.66M |
Mar 31, 2024 | $24.82M | $14.03M | $7.96M |