PubMatic: 3 Key Takeaways for Long-Term Investors

On its third-quarter 2026 earnings call, held on Nov. 9, 2026, PubMatic (NASDAQ:PUBM) announced that revenue grew 17% year over year. The digital advertising provider is capturing market share as media buying moves directly to the supply side, where publisher data remains most intact. Three things management said on the call stand out.

Ad buyers are shifting campaign execution directly onto PubMatic's supply-side platform (SSP), the software that connects digital publishers to ad buyers. This direct access, through the company's Activate solution, bypasses traditional demand-side platform (DSP) filtering and improves campaign efficiency.

Premium inventory formats like connected TV (CTV) -- ad-supported streaming television -- and mobile applications now generate nearly two-thirds of total revenue. Advertisers are allocating spend to logged-in app environments where audience identity signals are reliable.

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