Peak NRR of 112% in FY2024-Q3. Latest is 98% - that's -14pp from peak.
PubMatic is below the Sales & Marketing Tech Public median by -5pp (cell median: 103%)
PubMatic (PUBM) is a sales & marketing tech company at the public stage. As of its most recent disclosure (FY2026-Q2), PubMatic reported a Net Revenue Retention rate of 98% - a below-average result for B2B SaaS at this segment.
PubMatic's NRR peaked at 112% in FY2024-Q3, 14pp above today's level. The most recent quarter gained 2pp QoQ.
Within its peer set (sales & marketing tech companies at public stage in the $100k-$500k acv band), PubMatic's NRR is below the cell median of 103%. Compare against the full peer cell aggregate for distribution and top performers.
Contract shape and forward-booked revenue.
Health scores, usage, and time-to-value when disclosed.
Logo flow per period (count-side complement to dollar-based NRR).
Revenue, ARR, and team-size denominators for the productivity ratios.
CS team segments: Advertisers · Agency Holdcos · Independent Agencies · DSPs · Curators
CSM model: account-named
Education programs: Agentic AI Accelerator Program
Top customer exec: Megan Ram - Global Chief Revenue Officer (since 2026)
Named CS initiatives across recent disclosures (newest first).
GenAI-powered reporting tool that allows publishers to request any report or data using simple, plain language text.
"Just last month, we launched PubMatic Assistant, a GenAI-powered reporting tool that allows publishers to request..."
Aggregates like inventory across the platform, offering buyers specific inventory categories like Gen Z.
"In the second half of 2024, we launched a CTV Marketplace, which aggregates like inventory across our platform..."
Operating system for orchestrating autonomous, agent-to-agent advertising campaigns.
"including the launch of AgenticOS, PubMatic’s operating system for orchestrating autonomous advertising campaigns"
Allows buyers to execute direct deals on our platform across our publisher inventory.
"Activate, which allows buyers to execute direct deals on our platform across our publisher inventory"
Commerce media solution for retail and commerce media participants.
"In 2023, we launched... Convert, our commerce media solution."
AI product for publishers using adaptive learning models to automate pricing and improve auction efficiency.
"AI products that are creating incremental revenue streams such as Intelligent Yield for publishers"
AI-driven agentic advertising platform automating decisions across the value chain.
"The new strategy we launched in summer of 2025 is delivering tangible results... AgenticOS and our growing portfolio"
Technology enabling advertisers to deliver consistent stories across interactive content and devices.
"New products like Creative Innovation Suite are now live across AgenticOS"
Challenges acknowledged by management. Useful peer signals - your team is probably not alone.
A single DSP partner changed bidding from first/second price to solely first price, impacting desktop display.
"These results include a significant headwind in desktop display, which started in May of 2024 related to a single DSP"
Headwinds from a large DSP favoring an internal offering and legacy DSP issues.
"unanticipated headwinds from another large DSP that began to favor an internal offering during 2025"
Platform changes implemented by one of our DSP buyers in the second half of 2025 resulting in revenue decline.
"negatively impacted by platform changes implemented by one of our DSP buyers in the second half of 2025"
Bad debt expense of $5.7 million due to MediaMath bankruptcy.
"in June 2023 when MediaMath declared bankruptcy, which led us to record a bad debt expense of $5.7 million"
Inflation, interest rate fluctuations, and recession concerns creating economic volatility.
"recent macroeconomic uncertainty... continue to create economic volatility and dislocation"
Revenue impact from a legacy DSP buyer that disrupted direct connects.
"Excluding revenues related to the legacy DSP referenced mid-2025, our underlying business grew 13%"
Curated quotes about customer outcomes, retention, renewals.
"Because our business is built on outcomes and usage, we generate revenue when we deliver the best outcomes for our customers."
"Periods of economic stress are terrific opportunities for us to deepen our relationships with customers."
"Publishers need our help more than ever to drive monetization of their inventory and audiences."
"Our end-to-end platform provides scalable programmatic infrastructure that complements their direct sales efforts."
"We are going to be accelerating the investment behind driving Activate in the coming months and quarters."
"Our solutions cut campaign setup time by 87% and speed up issue resolution by 70%, translating directly into faster activations, higher productivity, and better outcomes for our customers."
Side-by-side NRR, customer cohorts, commercial structure, and CS motion.
PubMatic appears on 1 of our retention leaderboards.
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| Period | NRR | GRR | Source type | Filing |
|---|---|---|---|---|
| FY2026-Q2 | 98% | - | 10-Q-mdna | source ↗ |
| FY2026-Q1 | 96% | - | 10-Q-mdna | source ↗ |
| FY-2025 | 96% | - | 10-K | source ↗ |
| FY2025-Q3 | 98% | - | 10-Q-mdna | source ↗ |
| FY2025-Q2 | 102% | - | 10-Q-mdna | source ↗ |
| FY2025-Q1 | 102% | - | 10-Q-mdna | source ↗ |
| FY-2024 | 107% | - | 10-K | source ↗ |
| FY2024-Q3 | 112% | - | 10-Q-mdna | source ↗ |
| FY2024-Q2 | 108% | - | 10-Q-mdna | source ↗ |
Generate a live retention report against PubMatic and your full peer cell. Ungated. Downloadable as PDF.