• by Wayne Friedman , February 27, 2024

Supply-side advertising-technology platform PubMatic grew 14% in fourth-quarter revenues to $84.6 million versus the same period a year ago -- overdelivering on expectations. 

Net income was up 46% to $18.7 million.

Tuesday morning trading of PubMatic’s stock -- a day after its earnings release -- was up 28% to $21.31.  

Video business from desktop, mobile and connected TV (CTV) devices grew 7% year-over-year.

Overall revenue from mobile display and video represent 78% of total revenue for the year. Pubmatic offered first-quarter revenue guidance of between $61 million and $63 million.

PubMatic witnessed its CTV inventory growing to 271 publishers -- up from 214 publishers during the same period a year before.

New or expanded programmatic inventory partnerships included AMC Networks, Dish Media, Fox Corp., TiVo and Vevo. It also grew a technology partnership with ad server Freewheel.

During the call with analysts on Monday, the company said its publishers continue to transition from third-party cookie-based identifiers to other alternative identity graphs including those from LiveRamp and The Trade Desk (Unified ID 2.0).

PubMatic said over 80% of its impressions had alternative identity graphs. 

Looking at more than 600 billion ad impressions, PubMatic said that when alternative IDs are present, publisher revenue increased by 16%.

In an effort to help advertisers, the company also works with publishers to reduce the number of ad-technology companies they are working with -- a strategy called supply path optimization (SPO). The company says 45% of its total activity on its platform comes from SPO -- up from just 34% a year ago.