• by Ray Schultz , November 20, 2024

PubMatic and X have formed a new partnership in which supply-side platform PubMatic will be an authorized seller of ads on X, the former Twitter. 

X has struggled to retain both users and advertisers. 

The news was first reported by Business Insider. 

Reports state that PubMatic’s stock has been rising on news of the deal. But the firm’s quarterly performance may also have something to do with that increase. 

Last week, PubMatic reported Q3 revenue of $71.8 million, up 13% YoY. The gross profit rose by 23% YoY to $46.3 million. The net loss totaled $0.9 million. 

“Our third quarter results exceeded expectations, driven by strong growth in CTV and mobile app,” said Rajeev Goel, co-founder and CEO at PubMatic. “With 70% of the top streamers now on PubMatic, we offer a critical mass of premium CTV inventory to meet the surge in ad demand on our platform.”

Goel added, “We also prioritized innovation, building new generative AI solutions to unlock inventory and increase monetization. As a result, customers and partners are using PubMatic technology to build and enhance their ad businesses.”