Sign in

    Jacob Armstrong

    Research Associate at KeyBanc Capital Markets

    Jacob Armstrong is a Research Associate at KeyBanc Capital Markets, specializing in equity research since joining the firm in 2022 following completion of his undergraduate degree. He supports coverage of select public companies across targeted sectors, contributing to research and analytical performance for institutional clients. Though relatively early in his career, Armstrong has gained exposure to investment performance tracking while building credentials in securities analysis. He is actively pursuing professional licensing and further research recognition as he advances in the capital markets field.

    Jacob Armstrong's questions to PubMatic (PUBM) leadership

    Jacob Armstrong's questions to PubMatic (PUBM) leadership • Q2 2025

    Question

    Jacob Armstrong inquired about the evolution of conversations with advertisers as Supply Path Optimization (SPO) reached 55% of platform activity and how this impacts the go-to-market approach.

    Answer

    Co-Founder and CEO Rajeev Goel stated that conversations are deepening to solve more advertiser problems around performance, ROI, and sell-side targeting, leveraging solutions like Activate and Connect. He noted that as PubMatic expands into the mid-market, which is growing faster, the SPO metric may become more volatile as not all of those deals are SPO-related.

    Ask Fintool Equity Research AI

    Jacob Armstrong's questions to PubMatic (PUBM) leadership • Q1 2025

    Question

    Jacob Armstrong asked how PubMatic thinks about balancing the flow-through of higher CPMs from omnichannel video to margins versus reinvesting those profits for future growth as video surpasses 50% of the business mix.

    Answer

    CFO Steven Pantelick explained that the strategy is to identify and invest in the fastest-growing secular areas like CTV, funded by significant productivity gains from infrastructure management and AI. He stressed that the company consistently balances funding these growth opportunities with maintaining bottom-line profitability, as evidenced by its long track record. CEO Rajeev Goel added that significant growth runway remains in video, citing opportunities in live sports, international broadcasters like the BBC, and momentum from Activate.

    Ask Fintool Equity Research AI

    Jacob Armstrong's questions to INTEGRAL AD SCIENCE HOLDING (IAS) leadership

    Jacob Armstrong's questions to INTEGRAL AD SCIENCE HOLDING (IAS) leadership • Q2 2025

    Question

    Jacob Armstrong from KeyBanc Capital Markets asked about the drivers of the 10% growth in optimization CPMs despite volume deceleration, and also inquired about the adoption of Meta optimization products.

    Answer

    CEO Lisa Utzschneider attributed the 10% year-over-year increase in optimization pricing to the strong adoption of the premium Quality Sync (QSP) product, particularly on Google's DV360 and Amazon DSP. Regarding social, she noted that the number of brands using pre-bid optimization on Meta doubled from Q1 to Q2, with over 50% of this adoption coming from international markets.

    Ask Fintool Equity Research AI