Ian Peterson's questions to PubMatic (PUBM) leadership • Q3 2024
Question
An analyst on behalf of Ian Peterson at Evercore ISI asked for an analysis of the Q3 U.S. revenue acceleration, questioning the impact of political ads versus other factors, and requested an update on the DSP-related headwind mentioned in the prior quarter.
Answer
CFO Steve Pantelick explained that the primary driver of Q3 outperformance was significant, volume-driven growth in CTV, which also captured the majority of political ad spend. He also highlighted strong mobile app growth. Regarding the DSP headwind, he reiterated that the situation has stabilized and the Q4 guidance implies over 15% core business growth on an apples-to-apples basis.