PubMatic (PUBM) reported earnings on Tue 23 Feb 2021 (a/h)

•  The company said revenue in the fourth quarter of 2020 was $56.2 million, up 64% year-over-year.
• The company’s chief financial officer Steve Pantelick said in a statement that the quarterly growth was driven by advertising strength in e-commerce, technology, personal finance and on streaming video.  

PubMatic beats by $0.02, beats on revs; guides Q1 revs above consensus; guides FY21 revs above consensus

Reports Q4 (Dec) earnings of $0.34 per share, $0.02 better than the S&P Capital IQ Consensus of $0.32; revenues rose 63.4% year/year to $56.2 mln vs the $47.57 mln S&P Capital IQ Consensus.

Co issues upside guidance for Q1, sees Q1 revs of $38.0-40.0 mln vs. $33.90 mln S&P Capital IQ Consensus.

• Expect Adjusted EBITDA to be in the range of $8.0 million to $9.0 million, or 21% to 23% margin. 
• Co issues upside guidance for FY21, sees FY21 revs of $180.0-185.0 mln vs. $168.78 mln S&P Capital IQ Consensus.
• We expect Adjusted EBITDA to be in the range of $45.0 million to $49.0 million or 25% to 27% margin.

PubMatic (PUBM) began trading on the Nasdaq on Wed 9 Dec 20

PubMatic runs a sell-side advertising platform that runs real-time programmatic ad transactions and allows publishers and app developers to sell space to advertisers across media, including display or video ads on desktop, mobile app, mobile web or streaming TV. 

IPO: PubMatic (PUBM) priced 5.9 mln share IPO at $20.00 per share, above the expected range of $16-18

• Sector(s): Technology
• Industry: Software—Application
• Founded in 2006
• Headquartered in Redwood City, California
• http://pubmatic.com

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PubMatic’s clients, as of December, include publishers like Verizon Media Group and News Corp and app makers like Electronic Arts and Zynga. The Verizon relationship is especially important. It made up 28% of its revenue in 2019 and 21% of its revenue in the first nine months of 2020. The company competes with divisions of Google along with other supply-side platforms like Magnite, which was formed as a product of a 2020 merger between public ad tech companies Telaria and Rubicon Project. 

IPOs this week : Dec 7 - 11, 20 (wk 50)

IPOs expected to price 

• DoorDash (DASH); DoorDash expects to raise over $3B after targeting an even higher price range of $90 to $95 to imply a Chipotle-like market valuation of over $35B. 
• C3.ai (NYSE:AI); machine learning software specialist C3.ai, shooting to raise over $500M through its offering. 
• Airbnb (ABNB); Airbnb goes public with the travel sector still being disrupted by the pandemic, but expectations high. "It’s the Apple of travel," says Atlantic Equities ahead of the debut. Airbnb set a projected target range of $44 to $50 a share for its IPO. The company plans to sell 50M shares, while existing shareholders are selling another 1.9M.
• Hydrofarm Holdings (HYFM);  Hydrofarm aims to raise $130M to grow out its vertical farming business and 
• Certara (CERT), which uses biosimulation software to create virtual trials that use virtual patients to predict how drugs behave in different people. The company is profitable is in its early going. 
• PubMatic (PUBM), programmatic advertising firm is looking to bring in $75M.

IPO lockup expirations

• Vroom (NASDAQ:VRM) on December 7, as well as Lantern Pharma, (NASDAQ:LTRN), Biopharma Generation Bio (NASDAQ:GBIO), AZEK Company, (NYSE:AZEK) and Avidity Biosciences (NASDAQ:RNA) on December 8.