{"schema_version":"secwatch.filing_event.v1","accession":"0001422930-25-000048","form_type":"8-K","ticker":"PUBM","cik":"0001422930","company_name":"PubMatic, Inc.","filed_at":"2025-11-10T23:59:59+00:00","discovered_at":"2026-05-14T18:02:39.376484+00:00","generated_at":"2026-05-16T22:19:26.080287+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"PubMatic Q3 2025 revenue down 5% YoY; CTV up 50% ex-political; adjusted EBITDA margin falls to 16%","bullets":["Revenue $68.0M (down from $71.8M); GAAP net loss $(6.5)M ($0.14 loss per share) vs $(0.9)M loss in Q3 2024.","Adjusted EBITDA $11.2M (16% margin) vs $18.5M (26% margin); non-GAAP net income $1.6M ($0.03/share) vs $6.6M ($0.12/share).","CTV revenue grew >50% YoY excluding political advertising; Activate revenue more than doubled YoY.","Net dollar-based retention fell to 98% from 112%; operating cash flow $32.4M, up from $19.1M.","Cash $136.5M, no debt; repurchased 12.4M shares for $180.6M (24% of fully diluted shares)."],"urls":{"canonical":"https://secwatch.observer/filing/0001422930-25-000048","json":"https://secwatch.observer/filing/0001422930-25-000048.json","markdown":"https://secwatch.observer/filing/0001422930-25-000048.md","text":"https://secwatch.observer/filing/0001422930-25-000048.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1422930/000142293025000048/0001422930-25-000048-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1422930/000142293025000048/pubm-20251110.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-16T22:19:26.080287+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}