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Side-by-side financial comparison of PubMatic, Inc. (PUBM) and Latham Group, Inc. (SWIM). Click either name above to swap in a different company.
Latham Group, Inc. is the larger business by last-quarter revenue ($100.0M vs $80.0M, roughly 1.2× PubMatic, Inc.). On growth, Latham Group, Inc. posted the faster year-over-year revenue change (14.5% vs -6.4%). Latham Group, Inc. produced more free cash flow last quarter ($14.1M vs $11.3M). Over the past eight quarters, PubMatic, Inc.'s revenue compounded faster (9.5% CAGR vs -4.9%).
PubMatic, Inc. develops and implements online advertising software and strategies for the digital publishing and advertising industry. PubMatic's sell-side, real-time programmatic ad transaction advertising software puts publishers of websites, videos, and mobile apps into contact with ad buyers by using automated systems, while allowing users to opt-out of having their personal information collected on internet searches. PubMatic has a number of offices in countries around the world.
Latham & Watkins LLP is an American multinational law firm. Founded in 1934 in Los Angeles, California, it is known for its litigation, corporate, and regulatory law practices.
PUBM vs SWIM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $80.0M | $100.0M |
| Net Profit | — | $-7.0M |
| Gross Margin | 68.2% | 28.0% |
| Operating Margin | 10.6% | -10.7% |
| Net Margin | — | -7.0% |
| Revenue YoY | -6.4% | 14.5% |
| Net Profit YoY | — | 76.0% |
| EPS (diluted) | $0.14 | $-0.06 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $80.0M | $100.0M | ||
| Q3 25 | $68.0M | $161.9M | ||
| Q2 25 | $71.1M | $172.6M | ||
| Q1 25 | $63.8M | $111.4M | ||
| Q4 24 | $85.5M | $87.3M | ||
| Q3 24 | $71.8M | $150.5M | ||
| Q2 24 | $67.3M | $160.1M | ||
| Q1 24 | $66.7M | $110.6M |
| Q4 25 | — | $-7.0M | ||
| Q3 25 | $-6.5M | $8.1M | ||
| Q2 25 | $-5.2M | $16.0M | ||
| Q1 25 | $-9.5M | $-6.0M | ||
| Q4 24 | — | $-29.2M | ||
| Q3 24 | $-912.0K | $5.9M | ||
| Q2 24 | $2.0M | $13.3M | ||
| Q1 24 | $-2.5M | $-7.9M |
| Q4 25 | 68.2% | 28.0% | ||
| Q3 25 | 62.6% | 35.4% | ||
| Q2 25 | 62.6% | 37.1% | ||
| Q1 25 | 59.9% | 29.5% | ||
| Q4 24 | 70.8% | 24.6% | ||
| Q3 24 | 64.5% | 32.4% | ||
| Q2 24 | 62.6% | 33.1% | ||
| Q1 24 | 61.9% | 27.7% |
| Q4 25 | 10.6% | -10.7% | ||
| Q3 25 | -12.4% | 13.3% | ||
| Q2 25 | -7.7% | 14.3% | ||
| Q1 25 | -18.6% | -4.4% | ||
| Q4 24 | 17.3% | -14.9% | ||
| Q3 24 | -1.9% | 8.9% | ||
| Q2 24 | -5.9% | 12.5% | ||
| Q1 24 | -8.3% | -1.9% |
| Q4 25 | — | -7.0% | ||
| Q3 25 | -9.5% | 5.0% | ||
| Q2 25 | -7.3% | 9.3% | ||
| Q1 25 | -14.9% | -5.4% | ||
| Q4 24 | — | -33.4% | ||
| Q3 24 | -1.3% | 3.9% | ||
| Q2 24 | 2.9% | 8.3% | ||
| Q1 24 | -3.7% | -7.1% |
| Q4 25 | $0.14 | $-0.06 | ||
| Q3 25 | $-0.14 | $0.07 | ||
| Q2 25 | $-0.11 | $0.13 | ||
| Q1 25 | $-0.20 | $-0.05 | ||
| Q4 24 | $0.26 | $-0.24 | ||
| Q3 24 | $-0.02 | $0.05 | ||
| Q2 24 | $0.04 | $0.11 | ||
| Q1 24 | $-0.05 | $-0.07 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $145.5M | — |
| Total DebtLower is stronger | — | $279.8M |
| Stockholders' EquityBook value | $262.6M | $405.9M |
| Total Assets | $680.2M | $823.2M |
| Debt / EquityLower = less leverage | — | 0.69× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $145.5M | — | ||
| Q3 25 | $136.5M | — | ||
| Q2 25 | $90.5M | — | ||
| Q1 25 | $101.8M | — | ||
| Q4 24 | $100.5M | — | ||
| Q3 24 | $78.9M | — | ||
| Q2 24 | $73.5M | — | ||
| Q1 24 | $80.2M | — |
| Q4 25 | — | $279.8M | ||
| Q3 25 | — | $281.1M | ||
| Q2 25 | — | $281.5M | ||
| Q1 25 | — | $306.9M | ||
| Q4 24 | — | $281.5M | ||
| Q3 24 | — | $282.8M | ||
| Q2 24 | — | $282.4M | ||
| Q1 24 | — | $282.8M |
| Q4 25 | $262.6M | $405.9M | ||
| Q3 25 | $245.1M | $408.4M | ||
| Q2 25 | $243.3M | $398.4M | ||
| Q1 25 | $275.6M | $381.1M | ||
| Q4 24 | $277.3M | $387.2M | ||
| Q3 24 | $263.2M | $416.6M | ||
| Q2 24 | $282.7M | $408.1M | ||
| Q1 24 | $288.7M | $391.8M |
| Q4 25 | $680.2M | $823.2M | ||
| Q3 25 | $676.2M | $844.4M | ||
| Q2 25 | $675.2M | $822.1M | ||
| Q1 25 | $668.6M | $824.6M | ||
| Q4 24 | $739.5M | $794.2M | ||
| Q3 24 | $689.1M | $853.4M | ||
| Q2 24 | $673.1M | $830.0M | ||
| Q1 24 | $626.2M | $808.6M |
| Q4 25 | — | 0.69× | ||
| Q3 25 | — | 0.69× | ||
| Q2 25 | — | 0.71× | ||
| Q1 25 | — | 0.81× | ||
| Q4 24 | — | 0.73× | ||
| Q3 24 | — | 0.68× | ||
| Q2 24 | — | 0.69× | ||
| Q1 24 | — | 0.72× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $18.2M | $23.3M |
| Free Cash FlowOCF − Capex | $11.3M | $14.1M |
| FCF MarginFCF / Revenue | 14.1% | 14.1% |
| Capex IntensityCapex / Revenue | 8.6% | 9.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $66.7M | $38.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $18.2M | $23.3M | ||
| Q3 25 | $32.4M | $51.0M | ||
| Q2 25 | $14.9M | $36.0M | ||
| Q1 25 | $15.6M | $-46.9M | ||
| Q4 24 | $18.0M | $6.2M | ||
| Q3 24 | $19.1M | $37.2M | ||
| Q2 24 | $11.9M | $52.4M | ||
| Q1 24 | $24.3M | $-34.5M |
| Q4 25 | $11.3M | $14.1M | ||
| Q3 25 | $27.7M | $45.2M | ||
| Q2 25 | $13.6M | $29.1M | ||
| Q1 25 | $14.2M | $-50.3M | ||
| Q4 24 | $13.7M | $-98.0K | ||
| Q3 24 | $7.4M | $33.2M | ||
| Q2 24 | $11.2M | $47.9M | ||
| Q1 24 | $23.5M | $-39.9M |
| Q4 25 | 14.1% | 14.1% | ||
| Q3 25 | 40.8% | 27.9% | ||
| Q2 25 | 19.1% | 16.8% | ||
| Q1 25 | 22.2% | -45.2% | ||
| Q4 24 | 16.1% | -0.1% | ||
| Q3 24 | 10.3% | 22.1% | ||
| Q2 24 | 16.7% | 29.9% | ||
| Q1 24 | 35.2% | -36.0% |
| Q4 25 | 8.6% | 9.2% | ||
| Q3 25 | 6.9% | 3.6% | ||
| Q2 25 | 1.9% | 4.0% | ||
| Q1 25 | 2.3% | 3.1% | ||
| Q4 24 | 5.1% | 7.2% | ||
| Q3 24 | 16.3% | 2.7% | ||
| Q2 24 | 1.1% | 2.8% | ||
| Q1 24 | 1.2% | 4.8% |
| Q4 25 | — | — | ||
| Q3 25 | — | 6.29× | ||
| Q2 25 | — | 2.25× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 6.32× | ||
| Q2 24 | 6.06× | 3.95× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PUBM
Segment breakdown not available.
SWIM
| In Ground Swimming Pools | $50.2M | 50% |
| Covers | $37.0M | 37% |
| Liners | $12.7M | 13% |
