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Robert Culbreth

Research Analyst at B. Riley Financial, Inc.

Robert Culbreth is an Equity Research Analyst at B. Riley Securities specializing in regional banks and financial services coverage. He regularly provides analysis and coverage for companies such as Seacoast Banking Corporation, delivering actionable investment insights with a focus on M&A activity and performance trends. Culbreth's career in equity research spans several years, with extensive experience in assessing small- and mid-cap regional banks prior to joining B. Riley Securities, although his earlier positions are less publicly documented. He holds professional securities registrations required for research analysts, reflecting his credentials in the financial industry.

Robert Culbreth's questions to PubMatic (PUBM) leadership

Question · Q4 2025

Robert Culbreth from Evercore asked about the 5x cost efficiency in campaign execution, whether it stems from eliminating supply chain hops like DSPs, and how agentic advertising might evolve the programmatic world (centralized vs. federated). He also inquired about the top drivers of Q4 revenue upside.

Answer

Rajeev Goel, Co-Founder and CEO of PubMatic, explained the 5x cost efficiency comes from reducing manual activity and eliminating third parties across the entire campaign execution process. He sees agentic capabilities as complementary to programmatic, bringing more volume to the platform rather than replacing real-time bidding. Steve Pantelick, CFO, attributed Q4 upside to strong growth in emerging revenues (75%+), mobile app (25%), and CTV (double-digit rates), along with stability in the legacy DSP impact and robust shopping vertical ad spend.

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Fintool can predict PubMatic logo PUBM's earnings beat/miss a week before the call

Robert Culbreth's questions to INTEGRAL AD SCIENCE HOLDING (IAS) leadership

Question · Q3 2024

Robert Culbreth asked if pre-bid social tools could attract new customers who don't currently use post-bid measurement. He also inquired about the revenue mix of former Oracle clients between advertising and publishing, and if any revenue was recognized in Q3.

Answer

CEO Lisa Utzschneider suggested that performance-focused mid-market advertisers could be a key segment to adopt pre-bid social tools without having used post-bid measurement. CFO Tania Secor added that Oracle-related revenue will initially impact both publisher and measurement businesses, with the mix expected to shift toward optimization over time through upsells.

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Fintool can predict INTEGRAL AD SCIENCE HOLDING logo IAS's earnings beat/miss a week before the call

Robert Culbreth's questions to Cardlytics (CDLX) leadership

Question · Q3 2024

Robert Culbreth of B. Riley Securities inquired about the primary drivers of campaign under-delivery and the strategy to resolve it. He also asked about trends in billings per logo and whether platform improvements would be automated for advertisers.

Answer

CEO Amit Gupta explained that after making progress on over-delivery, the company is now focused on fixing under-delivery through better forecasting, campaign ranking, and testing different reward amounts, with the goal of automating these solutions to reduce advertiser friction. Gupta also expressed optimism that as market conditions improve and with proactive 2025 budget planning, billings per advertiser are expected to grow.

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Fintool

Fintool can predict Cardlytics logo CDLX's earnings beat/miss a week before the call