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PubMatic has expanded its share repurchase authorization by $150 million, giving the AI advertising software company until the end of December 2028 to buy back shares under the program. The company has about $198 million allocated for repurchases through that date, including funds left in its earlier program.
Chief Financial Officer Steve Pantelick said Monday that PubMatic’s debt-free balance sheet gave it flexibility to fund growth while increasing the amount available for buybacks.
As of Sept. 30, PubMatic had spent $226.6 million to repurchase 16.5 million shares and had $48.4 million remaining under its 2023 buyback authorization. The new authorization adds $150 million to the program.
The announcement came alongside results showing third-quarter revenue rose 17%. PubMatic reported net income of $5.5 million, or 11 cents a share, compared with a loss of $6.5 million, or 14 cents a share, a year earlier.
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