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Side-by-side financial comparison of PubMatic, Inc. (PUBM) and Target Hospitality Corp. (TH). Click either name above to swap in a different company.
PubMatic, Inc. is the larger business by last-quarter revenue ($80.0M vs $73.5M, roughly 1.1× Target Hospitality Corp.). On growth, Target Hospitality Corp. posted the faster year-over-year revenue change (22.0% vs -6.4%). Over the past eight quarters, PubMatic, Inc.'s revenue compounded faster (9.5% CAGR vs 0.7%).
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.
Target Hospitality is a company that provides workforce lodging and other temporary, modular housing used for oil, gas and mining operations; large-scale events; and disaster relief. Target Hospitality is based in The Woodlands, Texas, and also has offices in Williston, North Dakota; Denver, Colorado; Calgary, Alberta.
PUBM vs TH — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $80.0M | $73.5M |
| Net Profit | — | $-14.9M |
| Gross Margin | 68.2% | 9.6% |
| Operating Margin | 10.6% | -22.9% |
| Net Margin | — | -20.3% |
| Revenue YoY | -6.4% | 22.0% |
| Net Profit YoY | — | -219.1% |
| EPS (diluted) | $0.14 | $-0.14 |
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 | $73.5M | ||
| Q3 25 | $68.0M | $91.6M | ||
| Q2 25 | $71.1M | $54.9M | ||
| Q1 25 | $63.8M | $54.9M | ||
| Q4 24 | $85.5M | $60.2M | ||
| Q3 24 | $71.8M | $65.8M | ||
| Q2 24 | $67.3M | $67.5M | ||
| Q1 24 | $66.7M | $72.4M |
| Q4 25 | — | $-14.9M | ||
| Q3 25 | $-6.5M | $-795.0K | ||
| Q2 25 | $-5.2M | $-14.9M | ||
| Q1 25 | $-9.5M | $-6.5M | ||
| Q4 24 | — | $12.5M | ||
| Q3 24 | $-912.0K | $20.0M | ||
| Q2 24 | $2.0M | $18.4M | ||
| Q1 24 | $-2.5M | $20.4M |
| Q4 25 | 68.2% | 9.6% | ||
| Q3 25 | 62.6% | 19.6% | ||
| Q2 25 | 62.6% | -0.6% | ||
| Q1 25 | 59.9% | 32.7% | ||
| Q4 24 | 70.8% | 61.5% | ||
| Q3 24 | 64.5% | 68.7% | ||
| Q2 24 | 62.6% | 69.4% | ||
| Q1 24 | 61.9% | 67.8% |
| Q4 25 | 10.6% | -22.9% | ||
| Q3 25 | -12.4% | 0.1% | ||
| Q2 25 | -7.7% | -30.8% | ||
| Q1 25 | -18.6% | -2.0% | ||
| Q4 24 | 17.3% | 34.5% | ||
| Q3 24 | -1.9% | 42.5% | ||
| Q2 24 | -5.9% | 43.8% | ||
| Q1 24 | -8.3% | 42.0% |
| Q4 25 | — | -20.3% | ||
| Q3 25 | -9.5% | -0.9% | ||
| Q2 25 | -7.3% | -27.2% | ||
| Q1 25 | -14.9% | -11.8% | ||
| Q4 24 | — | 20.8% | ||
| Q3 24 | -1.3% | 30.4% | ||
| Q2 24 | 2.9% | 27.2% | ||
| Q1 24 | -3.7% | 28.2% |
| Q4 25 | $0.14 | $-0.14 | ||
| Q3 25 | $-0.14 | $-0.01 | ||
| Q2 25 | $-0.11 | $-0.15 | ||
| Q1 25 | $-0.20 | $-0.07 | ||
| Q4 24 | $0.26 | $0.12 | ||
| Q3 24 | $-0.02 | $0.20 | ||
| Q2 24 | $0.04 | $0.18 | ||
| Q1 24 | $-0.05 | $0.20 |
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 | $8.3M |
| Total DebtLower is stronger | — | $1.7M |
| Stockholders' EquityBook value | $262.6M | $389.3M |
| Total Assets | $680.2M | $530.2M |
| Debt / EquityLower = less leverage | — | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $145.5M | $8.3M | ||
| Q3 25 | $136.5M | $30.4M | ||
| Q2 25 | $90.5M | $19.2M | ||
| Q1 25 | $101.8M | $34.5M | ||
| Q4 24 | $100.5M | $190.7M | ||
| Q3 24 | $78.9M | $177.7M | ||
| Q2 24 | $73.5M | $154.3M | ||
| Q1 24 | $80.2M | $124.3M |
| Q4 25 | — | $1.7M | ||
| Q3 25 | — | $2.0M | ||
| Q2 25 | — | $26.3M | ||
| Q1 25 | — | $42.9M | ||
| Q4 24 | — | $1.5M | ||
| Q3 24 | — | $994.0K | ||
| Q2 24 | — | $1.1M | ||
| Q1 24 | — | $179.9M |
| Q4 25 | $262.6M | $389.3M | ||
| Q3 25 | $245.1M | $402.4M | ||
| Q2 25 | $243.3M | $401.3M | ||
| Q1 25 | $275.6M | $415.3M | ||
| Q4 24 | $277.3M | $421.1M | ||
| Q3 24 | $263.2M | $417.6M | ||
| Q2 24 | $282.7M | $397.2M | ||
| Q1 24 | $288.7M | $375.5M |
| Q4 25 | $680.2M | $530.2M | ||
| Q3 25 | $676.2M | $541.2M | ||
| Q2 25 | $675.2M | $533.7M | ||
| Q1 25 | $668.6M | $562.5M | ||
| Q4 24 | $739.5M | $725.8M | ||
| Q3 24 | $689.1M | $709.8M | ||
| Q2 24 | $673.1M | $697.0M | ||
| Q1 24 | $626.2M | $687.2M |
| Q4 25 | — | 0.00× | ||
| Q3 25 | — | 0.01× | ||
| Q2 25 | — | 0.07× | ||
| Q1 25 | — | 0.10× | ||
| Q4 24 | — | 0.00× | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | 0.00× | ||
| Q1 24 | — | 0.48× |
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 | $5.7M |
| Free Cash FlowOCF − Capex | $11.3M | — |
| FCF MarginFCF / Revenue | 14.1% | — |
| Capex IntensityCapex / Revenue | 8.6% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $66.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $18.2M | $5.7M | ||
| Q3 25 | $32.4M | $53.4M | ||
| Q2 25 | $14.9M | $11.1M | ||
| Q1 25 | $15.6M | $3.9M | ||
| Q4 24 | $18.0M | $30.6M | ||
| Q3 24 | $19.1M | $31.4M | ||
| Q2 24 | $11.9M | $39.1M | ||
| Q1 24 | $24.3M | $50.6M |
| Q4 25 | $11.3M | — | ||
| Q3 25 | $27.7M | — | ||
| Q2 25 | $13.6M | — | ||
| Q1 25 | $14.2M | $-11.6M | ||
| Q4 24 | $13.7M | — | ||
| Q3 24 | $7.4M | — | ||
| Q2 24 | $11.2M | — | ||
| Q1 24 | $23.5M | — |
| Q4 25 | 14.1% | — | ||
| Q3 25 | 40.8% | — | ||
| Q2 25 | 19.1% | — | ||
| Q1 25 | 22.2% | -21.1% | ||
| Q4 24 | 16.1% | — | ||
| Q3 24 | 10.3% | — | ||
| Q2 24 | 16.7% | — | ||
| Q1 24 | 35.2% | — |
| Q4 25 | 8.6% | — | ||
| Q3 25 | 6.9% | — | ||
| Q2 25 | 1.9% | — | ||
| Q1 25 | 2.3% | 28.2% | ||
| Q4 24 | 5.1% | — | ||
| Q3 24 | 16.3% | — | ||
| Q2 24 | 1.1% | — | ||
| Q1 24 | 1.2% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 2.44× | ||
| Q3 24 | — | 1.57× | ||
| Q2 24 | 6.06× | 2.13× | ||
| Q1 24 | — | 2.48× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PUBM
Segment breakdown not available.
TH
| Services | $40.9M | 56% |
| Hospitality And Facilities Services South | $32.6M | 44% |
