Ad Spend ReductionA large DSP, one of PubMatic's top two, changed the way its engine valued PubMatic inventory, causing a reduction in ad spend.
Financial PressureThe second DSP issue is projected to cause a 46% decline in adjusted EBITDA in 2025, putting pressure on PubMatic's financials.
Revenue DeclinePubMatic faced two consecutive issues with major DSP partners, leading to significant revenue declines and headwinds expected to last for 12 months.