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.
Revenue ComparisonsPubmatic will be facing a headwind in the first half of the year while it anniversaries the prior year revenue comps from its large DSP.
Revenue GuidanceThe good result was overshadowed by a softer than expected Q3 guide due to a large DSP unexpectedly resetting its platform.