Company / R&D Expense
PubMatic, Inc. R&D Expense History
FY2021-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest R&D Expense
$26.7M
FY2025
5-year range
$12.3M / $26.7M
FY2021-FY2025
Trend
+28.2%
vs FY2024
Sector context
Sector data unavailable
Latest sector comparison
What the data says
R&D Expense has increased for 3 consecutive years, from $12M in FY2022 to $27M in FY2025.
Based on SEC 10-K filings.
$27M in FY2025 with a 3-year CAGR of +29.7%.
Improved from $16M to $27M over the past 2 years.
R&D Expense over time
Growth rates
- 3-Year CAGR
- +29.7%
- 5-Year CAGR
- -
- 10-Year CAGR
- -
Key checks
Key Insights
- PubMatic, Inc.'s r&d expense has grown for 3 consecutive years.
- 3-year CAGR of +29.7%, indicating consistent growth.
- In FY2025, r&d expense increased 28.2% year-over-year.
- Lowest r&d expense in the period was in FY2022.
Company context
Key Data Points
- Altman Z-Score 0.84 (distress zone, below 1.8 threshold)
- High earnings quality (cash-backed earnings)
Data sourced from SEC EDGAR filings. Not investment advice.
Annual data
| Year | R&D ExpenseValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | $26.7M | +28.2% |
| FY2024 | $20.8M | +31.2% |
| FY2023 | $15.9M | +29.7% |
| FY2022 | $12.3M | -1.6% |
| FY2021 | $12.5M | - |
As of FY2025 · SEC 10-K · Updated Jun 28, 2026