<?xml version="1.0" encoding="UTF-8"?>

<!--XBRL Document Created with the Workiva Platform-->
<!--Copyright 2025 Workiva-->
<!--r:0e7de57d-41ed-473e-8d3a-3835f14d6fb4,g:c8b15abe-2587-49b7-801e-e04605ddcfd1-->
<link:linkbase xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
  <link:roleRef roleURI="http://pubmatic.com/role/CONSOLIDATEDBALANCESHEETS" xlink:type="simple" xlink:href="pubm-20241231.xsd#CONSOLIDATEDBALANCESHEETS"/>
  <link:calculationLink xlink:role="http://pubmatic.com/role/CONSOLIDATEDBALANCESHEETS" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetsCurrent_5c268845-c69e-4c2c-bc2d-fa824a9d4597" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_AssetsCurrent"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_a91ef3b1-40a0-477a-bb5f-471636947c5d" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsCurrent_5c268845-c69e-4c2c-bc2d-fa824a9d4597" xlink:to="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_a91ef3b1-40a0-477a-bb5f-471636947c5d" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtSecuritiesCurrent_9f58b236-821c-4819-9dcb-6bc635897ecd" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_AvailableForSaleSecuritiesDebtSecuritiesCurrent"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsCurrent_5c268845-c69e-4c2c-bc2d-fa824a9d4597" xlink:to="loc_us-gaap_AvailableForSaleSecuritiesDebtSecuritiesCurrent_9f58b236-821c-4819-9dcb-6bc635897ecd" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccountsReceivableNetCurrent_2cd82589-5ee3-4974-9355-ba3551f1fc99" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_AccountsReceivableNetCurrent"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsCurrent_5c268845-c69e-4c2c-bc2d-fa824a9d4597" xlink:to="loc_us-gaap_AccountsReceivableNetCurrent_2cd82589-5ee3-4974-9355-ba3551f1fc99" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PrepaidExpenseAndOtherAssetsCurrent_fac8d03f-9d13-4ffd-ac28-963e77c9ec44" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_PrepaidExpenseAndOtherAssetsCurrent"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsCurrent_5c268845-c69e-4c2c-bc2d-fa824a9d4597" xlink:to="loc_us-gaap_PrepaidExpenseAndOtherAssetsCurrent_fac8d03f-9d13-4ffd-ac28-963e77c9ec44" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquity_20748f57-d015-4161-92ca-42dce0617a74" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_StockholdersEquity"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockValue_00ded9dc-b2be-4966-844c-925a6aed214d" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_PreferredStockValue"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_StockholdersEquity_20748f57-d015-4161-92ca-42dce0617a74" xlink:to="loc_us-gaap_PreferredStockValue_00ded9dc-b2be-4966-844c-925a6aed214d" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockValue_508596d7-0de8-465a-8d80-0af7d6a1444f" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_CommonStockValue"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_StockholdersEquity_20748f57-d015-4161-92ca-42dce0617a74" xlink:to="loc_us-gaap_CommonStockValue_508596d7-0de8-465a-8d80-0af7d6a1444f" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_TreasuryStockValue_ef660b5f-5a43-4d81-b60c-c799576a13a5" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_TreasuryStockValue"/>
    <link:calculationArc order="3" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_StockholdersEquity_20748f57-d015-4161-92ca-42dce0617a74" xlink:to="loc_us-gaap_TreasuryStockValue_ef660b5f-5a43-4d81-b60c-c799576a13a5" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AdditionalPaidInCapital_2c67075d-5b93-455f-ab8d-d01f536f074a" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_AdditionalPaidInCapital"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_StockholdersEquity_20748f57-d015-4161-92ca-42dce0617a74" xlink:to="loc_us-gaap_AdditionalPaidInCapital_2c67075d-5b93-455f-ab8d-d01f536f074a" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_2816a040-c432-4d3d-86be-8a63db09b70c" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_StockholdersEquity_20748f57-d015-4161-92ca-42dce0617a74" xlink:to="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_2816a040-c432-4d3d-86be-8a63db09b70c" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RetainedEarningsAccumulatedDeficit_cc8b7ad3-641e-4052-ac02-d186fe5b30ed" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_RetainedEarningsAccumulatedDeficit"/>
    <link:calculationArc order="6" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_StockholdersEquity_20748f57-d015-4161-92ca-42dce0617a74" xlink:to="loc_us-gaap_RetainedEarningsAccumulatedDeficit_cc8b7ad3-641e-4052-ac02-d186fe5b30ed" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LiabilitiesCurrent_629b332d-f43b-47ed-9615-eec750714987" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_LiabilitiesCurrent"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccountsPayableCurrent_2eaf9297-c3c1-4523-910a-038f102aa3ba" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_AccountsPayableCurrent"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesCurrent_629b332d-f43b-47ed-9615-eec750714987" xlink:to="loc_us-gaap_AccountsPayableCurrent_2eaf9297-c3c1-4523-910a-038f102aa3ba" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccruedLiabilitiesCurrent_d5a0ae8d-b8b8-4cf3-bbaf-4f49bf1d8ee1" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_AccruedLiabilitiesCurrent"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesCurrent_629b332d-f43b-47ed-9615-eec750714987" xlink:to="loc_us-gaap_AccruedLiabilitiesCurrent_d5a0ae8d-b8b8-4cf3-bbaf-4f49bf1d8ee1" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLeaseLiabilityCurrent_7f69ec7d-db4b-45aa-9065-472e4dad448c" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_OperatingLeaseLiabilityCurrent"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesCurrent_629b332d-f43b-47ed-9615-eec750714987" xlink:to="loc_us-gaap_OperatingLeaseLiabilityCurrent_7f69ec7d-db4b-45aa-9065-472e4dad448c" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Assets_0fa83d80-310d-43d0-a816-a0770a7211a7" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_Assets"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetsCurrent_f6237aa6-7d49-4967-817e-58a2450c94be" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_AssetsCurrent"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_0fa83d80-310d-43d0-a816-a0770a7211a7" xlink:to="loc_us-gaap_AssetsCurrent_f6237aa6-7d49-4967-817e-58a2450c94be" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization_fdcf77cc-fd7c-48d1-a8c6-09a62e3b7de9" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_0fa83d80-310d-43d0-a816-a0770a7211a7" xlink:to="loc_us-gaap_PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization_fdcf77cc-fd7c-48d1-a8c6-09a62e3b7de9" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Goodwill_f80eab37-77b4-44aa-aa5f-1b64c70b4b60" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_Goodwill"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_0fa83d80-310d-43d0-a816-a0770a7211a7" xlink:to="loc_us-gaap_Goodwill_f80eab37-77b4-44aa-aa5f-1b64c70b4b60" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredIncomeTaxAssetsNet_52e796d0-1f63-47cf-8b17-b3e75a327f4c" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_DeferredIncomeTaxAssetsNet"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_0fa83d80-310d-43d0-a816-a0770a7211a7" xlink:to="loc_us-gaap_DeferredIncomeTaxAssetsNet_52e796d0-1f63-47cf-8b17-b3e75a327f4c" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherAssetsNoncurrent_9ae10d4e-50b8-4fda-95a4-5ea0ec43e5a5" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_OtherAssetsNoncurrent"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_0fa83d80-310d-43d0-a816-a0770a7211a7" xlink:to="loc_us-gaap_OtherAssetsNoncurrent_9ae10d4e-50b8-4fda-95a4-5ea0ec43e5a5" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLeaseRightOfUseAsset_e6c8497c-1d86-4600-91e9-66004ea36a85" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_OperatingLeaseRightOfUseAsset"/>
    <link:calculationArc order="6" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_0fa83d80-310d-43d0-a816-a0770a7211a7" xlink:to="loc_us-gaap_OperatingLeaseRightOfUseAsset_e6c8497c-1d86-4600-91e9-66004ea36a85" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IntangibleAssetsNetExcludingGoodwill_0580d5a7-f178-4df9-963b-00102b25420a" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_IntangibleAssetsNetExcludingGoodwill"/>
    <link:calculationArc order="7" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_0fa83d80-310d-43d0-a816-a0770a7211a7" xlink:to="loc_us-gaap_IntangibleAssetsNetExcludingGoodwill_0580d5a7-f178-4df9-963b-00102b25420a" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Liabilities_6b636966-a38e-4b19-95a1-90c647705a5e" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_Liabilities"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LiabilitiesCurrent_41fcbab7-00e7-4064-bf50-11c8f6d1c7e7" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_LiabilitiesCurrent"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Liabilities_6b636966-a38e-4b19-95a1-90c647705a5e" xlink:to="loc_us-gaap_LiabilitiesCurrent_41fcbab7-00e7-4064-bf50-11c8f6d1c7e7" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherLiabilitiesNoncurrent_6198a683-52ca-44a4-8558-0d0d642d4baf" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_OtherLiabilitiesNoncurrent"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Liabilities_6b636966-a38e-4b19-95a1-90c647705a5e" xlink:to="loc_us-gaap_OtherLiabilitiesNoncurrent_6198a683-52ca-44a4-8558-0d0d642d4baf" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLeaseLiabilityNoncurrent_7c97d95a-972e-430d-9a39-b51b3e9a4948" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_OperatingLeaseLiabilityNoncurrent"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Liabilities_6b636966-a38e-4b19-95a1-90c647705a5e" xlink:to="loc_us-gaap_OperatingLeaseLiabilityNoncurrent_7c97d95a-972e-430d-9a39-b51b3e9a4948" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LiabilitiesAndStockholdersEquity_4426bbb8-769c-4a02-8cab-1b1664b01a00" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_LiabilitiesAndStockholdersEquity"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Liabilities_ba0a7298-4414-4bab-82c1-b58d8e8f907f" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_Liabilities"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquity_4426bbb8-769c-4a02-8cab-1b1664b01a00" xlink:to="loc_us-gaap_Liabilities_ba0a7298-4414-4bab-82c1-b58d8e8f907f" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommitmentsAndContingencies_e4668d28-fc67-42f5-b0dc-a5cc60a159c7" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_CommitmentsAndContingencies"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquity_4426bbb8-769c-4a02-8cab-1b1664b01a00" xlink:to="loc_us-gaap_CommitmentsAndContingencies_e4668d28-fc67-42f5-b0dc-a5cc60a159c7" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquity_56686461-8402-471f-ac2f-155ca5c8850f" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_StockholdersEquity"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquity_4426bbb8-769c-4a02-8cab-1b1664b01a00" xlink:to="loc_us-gaap_StockholdersEquity_56686461-8402-471f-ac2f-155ca5c8850f" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://pubmatic.com/role/CONSOLIDATEDSTATEMENTSOFOPERATIONS" xlink:type="simple" xlink:href="pubm-20241231.xsd#CONSOLIDATEDSTATEMENTSOFOPERATIONS"/>
  <link:calculationLink xlink:role="http://pubmatic.com/role/CONSOLIDATEDSTATEMENTSOFOPERATIONS" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingIncomeLoss_eb27be83-dae1-4628-aba2-5f851644d28d" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_OperatingIncomeLoss"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingExpenses_4325729c-ee59-45a2-ba5e-669b6f9d332c" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_OperatingExpenses"/>
    <link:calculationArc order="1" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OperatingIncomeLoss_eb27be83-dae1-4628-aba2-5f851644d28d" xlink:to="loc_us-gaap_OperatingExpenses_4325729c-ee59-45a2-ba5e-669b6f9d332c" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_GrossProfit_3098fc78-3c7c-4e5a-ae67-6a1e822935bb" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_GrossProfit"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OperatingIncomeLoss_eb27be83-dae1-4628-aba2-5f851644d28d" xlink:to="loc_us-gaap_GrossProfit_3098fc78-3c7c-4e5a-ae67-6a1e822935bb" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLoss_ae2f197f-cde0-4486-8d11-b49d8c75400d" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_NetIncomeLoss"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_63616c8e-d4ac-493d-97bd-7fcb4935c442" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetIncomeLoss_ae2f197f-cde0-4486-8d11-b49d8c75400d" xlink:to="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_63616c8e-d4ac-493d-97bd-7fcb4935c442" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeTaxExpenseBenefit_e19aa455-a959-4d89-9ace-609c5b6d1137" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_IncomeTaxExpenseBenefit"/>
    <link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetIncomeLoss_ae2f197f-cde0-4486-8d11-b49d8c75400d" xlink:to="loc_us-gaap_IncomeTaxExpenseBenefit_e19aa455-a959-4d89-9ace-609c5b6d1137" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_GrossProfit_e41b7fd6-4ed0-41d4-8604-858e22164ae2" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_GrossProfit"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CostOfGoodsAndServicesSold_e14cb68b-c9c9-407f-8bdb-4e18ba3dbcf3" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_CostOfGoodsAndServicesSold"/>
    <link:calculationArc order="1" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_GrossProfit_e41b7fd6-4ed0-41d4-8604-858e22164ae2" xlink:to="loc_us-gaap_CostOfGoodsAndServicesSold_e14cb68b-c9c9-407f-8bdb-4e18ba3dbcf3" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax_bc5019b4-2148-4116-ad6d-0c3cafd0c9d4" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_GrossProfit_e41b7fd6-4ed0-41d4-8604-858e22164ae2" xlink:to="loc_us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax_bc5019b4-2148-4116-ad6d-0c3cafd0c9d4" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NonoperatingIncomeExpense_4644f5bc-7b9b-4a7b-ae4d-5066826de543" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_NonoperatingIncomeExpense"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherNonoperatingIncomeExpense_9120ed5b-bb89-4055-acbd-979d2b41febf" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_OtherNonoperatingIncomeExpense"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NonoperatingIncomeExpense_4644f5bc-7b9b-4a7b-ae4d-5066826de543" xlink:to="loc_us-gaap_OtherNonoperatingIncomeExpense_9120ed5b-bb89-4055-acbd-979d2b41febf" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestIncomeExpenseNonoperatingNet_4155e728-d6c7-4454-a524-f3f55f2b6a08" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_InterestIncomeExpenseNonoperatingNet"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NonoperatingIncomeExpense_4644f5bc-7b9b-4a7b-ae4d-5066826de543" xlink:to="loc_us-gaap_InterestIncomeExpenseNonoperatingNet_4155e728-d6c7-4454-a524-f3f55f2b6a08" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquitySecuritiesWithoutReadilyDeterminableFairValueDownwardPriceAdjustmentAnnualAmount_2cc06bd2-ffbb-4c00-b3e8-3159bc9bebee" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_EquitySecuritiesWithoutReadilyDeterminableFairValueDownwardPriceAdjustmentAnnualAmount"/>
    <link:calculationArc order="3" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NonoperatingIncomeExpense_4644f5bc-7b9b-4a7b-ae4d-5066826de543" xlink:to="loc_us-gaap_EquitySecuritiesWithoutReadilyDeterminableFairValueDownwardPriceAdjustmentAnnualAmount_2cc06bd2-ffbb-4c00-b3e8-3159bc9bebee" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_8b93b26f-5f01-4e65-8f10-e3ff7aba06bd" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NonoperatingIncomeExpense_5f545da4-2f5d-42a0-8b21-e53e9b80c58c" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_NonoperatingIncomeExpense"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_8b93b26f-5f01-4e65-8f10-e3ff7aba06bd" xlink:to="loc_us-gaap_NonoperatingIncomeExpense_5f545da4-2f5d-42a0-8b21-e53e9b80c58c" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingIncomeLoss_3af3daad-867c-4f22-b85e-827d2b781432" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_OperatingIncomeLoss"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_8b93b26f-5f01-4e65-8f10-e3ff7aba06bd" xlink:to="loc_us-gaap_OperatingIncomeLoss_3af3daad-867c-4f22-b85e-827d2b781432" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingExpenses_79363be5-56d5-45d8-9f55-8cad63532f79" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_OperatingExpenses"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_GeneralAndAdministrativeExpense_442c2cb5-da9e-4026-a676-608f7027169d" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_GeneralAndAdministrativeExpense"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OperatingExpenses_79363be5-56d5-45d8-9f55-8cad63532f79" xlink:to="loc_us-gaap_GeneralAndAdministrativeExpense_442c2cb5-da9e-4026-a676-608f7027169d" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SellingAndMarketingExpense_be014901-710e-4072-acd2-c447aa80f4c2" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_SellingAndMarketingExpense"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OperatingExpenses_79363be5-56d5-45d8-9f55-8cad63532f79" xlink:to="loc_us-gaap_SellingAndMarketingExpense_be014901-710e-4072-acd2-c447aa80f4c2" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ResearchAndDevelopmentExpense_85fde85b-9542-421b-a712-f85a16ac713d" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_ResearchAndDevelopmentExpense"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OperatingExpenses_79363be5-56d5-45d8-9f55-8cad63532f79" xlink:to="loc_us-gaap_ResearchAndDevelopmentExpense_85fde85b-9542-421b-a712-f85a16ac713d" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://pubmatic.com/role/CONSOLIDATEDSTATEMENTSOFCOMPREHENSIVEINCOME" xlink:type="simple" xlink:href="pubm-20241231.xsd#CONSOLIDATEDSTATEMENTSOFCOMPREHENSIVEINCOME"/>
  <link:calculationLink xlink:role="http://pubmatic.com/role/CONSOLIDATEDSTATEMENTSOFCOMPREHENSIVEINCOME" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTax_70fcc373-434a-4145-8ed3-c06c7e4f0b28" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_ComprehensiveIncomeNetOfTax"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLoss_09080b55-1cfa-48b8-95fc-a26d3abf912a" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_NetIncomeLoss"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ComprehensiveIncomeNetOfTax_70fcc373-434a-4145-8ed3-c06c7e4f0b28" xlink:to="loc_us-gaap_NetIncomeLoss_09080b55-1cfa-48b8-95fc-a26d3abf912a" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax_d7b414f3-ebb1-4049-885e-1f7409616c78" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ComprehensiveIncomeNetOfTax_70fcc373-434a-4145-8ed3-c06c7e4f0b28" xlink:to="loc_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax_d7b414f3-ebb1-4049-885e-1f7409616c78" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax_8c154730-3646-4d79-8aae-c062276798fd" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ComprehensiveIncomeNetOfTax_70fcc373-434a-4145-8ed3-c06c7e4f0b28" xlink:to="loc_us-gaap_OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax_8c154730-3646-4d79-8aae-c062276798fd" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://pubmatic.com/role/CONSOLIDATEDSTATEMENTSOFCASHFLOWS" xlink:type="simple" xlink:href="pubm-20241231.xsd#CONSOLIDATEDSTATEMENTSOFCASHFLOWS"/>
  <link:calculationLink xlink:role="http://pubmatic.com/role/CONSOLIDATEDSTATEMENTSOFCASHFLOWS" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_2282de1e-490a-4e5f-a7b4-79e3c20093d3" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInAccountsPayable_f00af780-e768-44fa-acc2-2dd0a2dd7c2a" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_IncreaseDecreaseInAccountsPayable"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_2282de1e-490a-4e5f-a7b4-79e3c20093d3" xlink:to="loc_us-gaap_IncreaseDecreaseInAccountsPayable_f00af780-e768-44fa-acc2-2dd0a2dd7c2a" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInAccountsReceivable_658b834c-9677-4214-8a4c-4c827799b683" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_IncreaseDecreaseInAccountsReceivable"/>
    <link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_2282de1e-490a-4e5f-a7b4-79e3c20093d3" xlink:to="loc_us-gaap_IncreaseDecreaseInAccountsReceivable_658b834c-9677-4214-8a4c-4c827799b683" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AllocatedShareBasedCompensationExpense_bc3b5399-26a1-497b-a9ef-9bc57d8cc729" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_AllocatedShareBasedCompensationExpense"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_2282de1e-490a-4e5f-a7b4-79e3c20093d3" xlink:to="loc_us-gaap_AllocatedShareBasedCompensationExpense_bc3b5399-26a1-497b-a9ef-9bc57d8cc729" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredIncomeTaxExpenseBenefit_4e07e619-9322-4177-a2f1-a36b9f30756e" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_DeferredIncomeTaxExpenseBenefit"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_2282de1e-490a-4e5f-a7b4-79e3c20093d3" xlink:to="loc_us-gaap_DeferredIncomeTaxExpenseBenefit_4e07e619-9322-4177-a2f1-a36b9f30756e" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLoss_44f65c5f-cb16-4252-8329-525b3113318c" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_NetIncomeLoss"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_2282de1e-490a-4e5f-a7b4-79e3c20093d3" xlink:to="loc_us-gaap_NetIncomeLoss_44f65c5f-cb16-4252-8329-525b3113318c" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherNoncurrentLiabilities_b62ab9f1-8e36-4eed-9e09-ddac4f901df1" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_IncreaseDecreaseInOtherNoncurrentLiabilities"/>
    <link:calculationArc order="6" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_2282de1e-490a-4e5f-a7b4-79e3c20093d3" xlink:to="loc_us-gaap_IncreaseDecreaseInOtherNoncurrentLiabilities_b62ab9f1-8e36-4eed-9e09-ddac4f901df1" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherDepreciationAndAmortization_59b37eb6-aea0-4168-8354-66c7125f594a" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_OtherDepreciationAndAmortization"/>
    <link:calculationArc order="7" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_2282de1e-490a-4e5f-a7b4-79e3c20093d3" xlink:to="loc_us-gaap_OtherDepreciationAndAmortization_59b37eb6-aea0-4168-8354-66c7125f594a" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets_824306ab-7405-4e42-88ce-c81b81a33c4a" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets"/>
    <link:calculationArc order="8" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_2282de1e-490a-4e5f-a7b4-79e3c20093d3" xlink:to="loc_us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets_824306ab-7405-4e42-88ce-c81b81a33c4a" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments_276026b2-7213-483c-ac53-73c29080eec2" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments"/>
    <link:calculationArc order="9" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_2282de1e-490a-4e5f-a7b4-79e3c20093d3" xlink:to="loc_us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments_276026b2-7213-483c-ac53-73c29080eec2" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInAccruedLiabilities_2787123e-4f06-4af9-88d9-920000ba5737" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_IncreaseDecreaseInAccruedLiabilities"/>
    <link:calculationArc order="10" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_2282de1e-490a-4e5f-a7b4-79e3c20093d3" xlink:to="loc_us-gaap_IncreaseDecreaseInAccruedLiabilities_2787123e-4f06-4af9-88d9-920000ba5737" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherNoncashIncomeExpense_2ab1281d-2da9-4355-b072-f28f5dc3e556" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_OtherNoncashIncomeExpense"/>
    <link:calculationArc order="11" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_2282de1e-490a-4e5f-a7b4-79e3c20093d3" xlink:to="loc_us-gaap_OtherNoncashIncomeExpense_2ab1281d-2da9-4355-b072-f28f5dc3e556" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProvisionForDoubtfulAccounts_f0b73ecf-d518-4baf-9f8a-396aa311e5cc" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_ProvisionForDoubtfulAccounts"/>
    <link:calculationArc order="12" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_2282de1e-490a-4e5f-a7b4-79e3c20093d3" xlink:to="loc_us-gaap_ProvisionForDoubtfulAccounts_f0b73ecf-d518-4baf-9f8a-396aa311e5cc" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquitySecuritiesFvNiUnrealizedGainLoss_034277dd-8a37-4077-8df2-e3929c860ea0" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_EquitySecuritiesFvNiUnrealizedGainLoss"/>
    <link:calculationArc order="13" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_2282de1e-490a-4e5f-a7b4-79e3c20093d3" xlink:to="loc_us-gaap_EquitySecuritiesFvNiUnrealizedGainLoss_034277dd-8a37-4077-8df2-e3929c860ea0" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_pubm_NonCashLeaseExpense_2c002a29-e2f3-4a76-aa36-2977700fad61" xlink:href="pubm-20241231.xsd#pubm_NonCashLeaseExpense"/>
    <link:calculationArc order="14" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_2282de1e-490a-4e5f-a7b4-79e3c20093d3" xlink:to="loc_pubm_NonCashLeaseExpense_2c002a29-e2f3-4a76-aa36-2977700fad61" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInOperatingLeaseLiability_616e8eee-b952-4f5e-bf96-637b1aab8ac6" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_IncreaseDecreaseInOperatingLeaseLiability"/>
    <link:calculationArc order="15" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_2282de1e-490a-4e5f-a7b4-79e3c20093d3" xlink:to="loc_us-gaap_IncreaseDecreaseInOperatingLeaseLiability_616e8eee-b952-4f5e-bf96-637b1aab8ac6" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_a4a7be71-1a73-444c-afdc-d8cbf17b3a45" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromStockPlans_7b155bdc-679b-484f-9101-f203580217fa" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_ProceedsFromStockPlans"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_a4a7be71-1a73-444c-afdc-d8cbf17b3a45" xlink:to="loc_us-gaap_ProceedsFromStockPlans_7b155bdc-679b-484f-9101-f203580217fa" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromStockOptionsExercised_07da31b3-b735-4347-b695-848730ed1551" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_ProceedsFromStockOptionsExercised"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_a4a7be71-1a73-444c-afdc-d8cbf17b3a45" xlink:to="loc_us-gaap_ProceedsFromStockOptionsExercised_07da31b3-b735-4347-b695-848730ed1551" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsForRepurchaseOfCommonStock_2f675be7-d8ea-4968-a338-69df4f9192cb" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_PaymentsForRepurchaseOfCommonStock"/>
    <link:calculationArc order="3" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_a4a7be71-1a73-444c-afdc-d8cbf17b3a45" xlink:to="loc_us-gaap_PaymentsForRepurchaseOfCommonStock_2f675be7-d8ea-4968-a338-69df4f9192cb" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsOfStockIssuanceCosts_58136edc-c457-43a8-bef9-c618ed1e296e" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_PaymentsOfStockIssuanceCosts"/>
    <link:calculationArc order="4" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_a4a7be71-1a73-444c-afdc-d8cbf17b3a45" xlink:to="loc_us-gaap_PaymentsOfStockIssuanceCosts_58136edc-c457-43a8-bef9-c618ed1e296e" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinanceLeasePrincipalPayments_2b6b3fa3-9dec-456f-a709-98ffe20fb23c" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_FinanceLeasePrincipalPayments"/>
    <link:calculationArc order="5" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_a4a7be71-1a73-444c-afdc-d8cbf17b3a45" xlink:to="loc_us-gaap_FinanceLeasePrincipalPayments_2b6b3fa3-9dec-456f-a709-98ffe20fb23c" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect_2e11cf1c-06fa-4426-b261-f4933cc62e57" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_93df714f-bb56-4310-a73a-2ec3affa83a3" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect_2e11cf1c-06fa-4426-b261-f4933cc62e57" xlink:to="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_93df714f-bb56-4310-a73a-2ec3affa83a3" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_f5159a1f-07ce-4b4c-8c33-3c1a0889d65d" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect_2e11cf1c-06fa-4426-b261-f4933cc62e57" xlink:to="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_f5159a1f-07ce-4b4c-8c33-3c1a0889d65d" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_820ab51d-4107-4429-80d3-54c6145e66b6" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect_2e11cf1c-06fa-4426-b261-f4933cc62e57" xlink:to="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_820ab51d-4107-4429-80d3-54c6145e66b6" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_7d2faea5-7d00-4882-955e-7f5c267c10cc" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_d5259cbf-fdac-4042-85da-8a841a7e9ce5" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_PaymentsToAcquirePropertyPlantAndEquipment"/>
    <link:calculationArc order="1" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_7d2faea5-7d00-4882-955e-7f5c267c10cc" xlink:to="loc_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_d5259cbf-fdac-4042-85da-8a841a7e9ce5" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsToAcquireMarketableSecurities_3ccf08cb-e197-4516-9cf7-3f00e3942a8e" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_PaymentsToAcquireMarketableSecurities"/>
    <link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_7d2faea5-7d00-4882-955e-7f5c267c10cc" xlink:to="loc_us-gaap_PaymentsToAcquireMarketableSecurities_3ccf08cb-e197-4516-9cf7-3f00e3942a8e" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromSaleOfAvailableForSaleSecuritiesDebt_9cdfd6f4-e0e8-4faf-8d37-983f14c09d10" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_ProceedsFromSaleOfAvailableForSaleSecuritiesDebt"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_7d2faea5-7d00-4882-955e-7f5c267c10cc" xlink:to="loc_us-gaap_ProceedsFromSaleOfAvailableForSaleSecuritiesDebt_9cdfd6f4-e0e8-4faf-8d37-983f14c09d10" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsToDevelopSoftware_89c906ef-806a-41f1-a722-2e0c7dab0f22" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_PaymentsToDevelopSoftware"/>
    <link:calculationArc order="4" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_7d2faea5-7d00-4882-955e-7f5c267c10cc" xlink:to="loc_us-gaap_PaymentsToDevelopSoftware_89c906ef-806a-41f1-a722-2e0c7dab0f22" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities_93a4434d-4835-4391-b478-2d16959975d9" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_7d2faea5-7d00-4882-955e-7f5c267c10cc" xlink:to="loc_us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities_93a4434d-4835-4391-b478-2d16959975d9" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired_222fe922-3cfb-4d00-8095-c3220ae4abfd" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired"/>
    <link:calculationArc order="6" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_7d2faea5-7d00-4882-955e-7f5c267c10cc" xlink:to="loc_us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired_222fe922-3cfb-4d00-8095-c3220ae4abfd" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://pubmatic.com/role/FairValueMeasurementsDetails" xlink:type="simple" xlink:href="pubm-20241231.xsd#FairValueMeasurementsDetails"/>
  <link:calculationLink xlink:role="http://pubmatic.com/role/FairValueMeasurementsDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetsFairValueDisclosure_80402a6b-2454-4c6d-bfb2-4b0cb41b5904" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_AssetsFairValueDisclosure"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashAndCashEquivalentsFairValueDisclosure_b09edcd3-f33a-4530-bcea-2a481aeff762" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_CashAndCashEquivalentsFairValueDisclosure"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsFairValueDisclosure_80402a6b-2454-4c6d-bfb2-4b0cb41b5904" xlink:to="loc_us-gaap_CashAndCashEquivalentsFairValueDisclosure_b09edcd3-f33a-4530-bcea-2a481aeff762" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtSecurities_10fa49a8-2444-4cd0-962a-2031bb8e86c5" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_AvailableForSaleSecuritiesDebtSecurities"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AssetsFairValueDisclosure_80402a6b-2454-4c6d-bfb2-4b0cb41b5904" xlink:to="loc_us-gaap_AvailableForSaleSecuritiesDebtSecurities_10fa49a8-2444-4cd0-962a-2031bb8e86c5" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://pubmatic.com/role/BalanceSheetComponentsScheduleofMarketableSecuritiesDetails" xlink:type="simple" xlink:href="pubm-20241231.xsd#BalanceSheetComponentsScheduleofMarketableSecuritiesDetails"/>
  <link:calculationLink xlink:role="http://pubmatic.com/role/BalanceSheetComponentsScheduleofMarketableSecuritiesDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtSecuritiesAvailableForSaleAmortizedCostCurrent_a6b2902c-1ca7-4fd6-ba0e-cb7a36ac0c32" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_DebtSecuritiesAvailableForSaleAmortizedCostCurrent"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax_fda9442e-a15b-44d4-966a-c9152f8d83c2" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax"/>
    <link:calculationArc order="1" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DebtSecuritiesAvailableForSaleAmortizedCostCurrent_a6b2902c-1ca7-4fd6-ba0e-cb7a36ac0c32" xlink:to="loc_us-gaap_AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax_fda9442e-a15b-44d4-966a-c9152f8d83c2" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax_c6d26435-c8a3-4e29-b0b6-c0cae3920def" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DebtSecuritiesAvailableForSaleAmortizedCostCurrent_a6b2902c-1ca7-4fd6-ba0e-cb7a36ac0c32" xlink:to="loc_us-gaap_AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax_c6d26435-c8a3-4e29-b0b6-c0cae3920def" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtSecuritiesCurrent_a1b56e7a-b561-4b29-b8d6-2be900295030" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_AvailableForSaleSecuritiesDebtSecuritiesCurrent"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DebtSecuritiesAvailableForSaleAmortizedCostCurrent_a6b2902c-1ca7-4fd6-ba0e-cb7a36ac0c32" xlink:to="loc_us-gaap_AvailableForSaleSecuritiesDebtSecuritiesCurrent_a1b56e7a-b561-4b29-b8d6-2be900295030" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://pubmatic.com/role/BalanceSheetComponentsScheduleofPropertyEquipmentandSoftwareNetDetails" xlink:type="simple" xlink:href="pubm-20241231.xsd#BalanceSheetComponentsScheduleofPropertyEquipmentandSoftwareNetDetails"/>
  <link:calculationLink xlink:role="http://pubmatic.com/role/BalanceSheetComponentsScheduleofPropertyEquipmentandSoftwareNetDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentNet_fad35c80-4f95-4fb2-9b97-cf9c2e220d8c" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_PropertyPlantAndEquipmentNet"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentGross_fd065da8-b2a3-44ff-82df-34b5bc8c25fd" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_PropertyPlantAndEquipmentGross"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentNet_fad35c80-4f95-4fb2-9b97-cf9c2e220d8c" xlink:to="loc_us-gaap_PropertyPlantAndEquipmentGross_fd065da8-b2a3-44ff-82df-34b5bc8c25fd" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_a78be57a-5aa8-4fd9-9d30-675d16417a7d" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment"/>
    <link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentNet_fad35c80-4f95-4fb2-9b97-cf9c2e220d8c" xlink:to="loc_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_a78be57a-5aa8-4fd9-9d30-675d16417a7d" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://pubmatic.com/role/BalanceSheetComponentsScheduleofAccountsPayableDetails" xlink:type="simple" xlink:href="pubm-20241231.xsd#BalanceSheetComponentsScheduleofAccountsPayableDetails"/>
  <link:calculationLink xlink:role="http://pubmatic.com/role/BalanceSheetComponentsScheduleofAccountsPayableDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccountsPayableCurrent_1368dfc3-d77b-46b8-8363-b966568d325d" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_AccountsPayableCurrent"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccountsPayableTradeCurrent_3c0e4cd6-80ac-46c0-a09c-877a0c758d21" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_AccountsPayableTradeCurrent"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AccountsPayableCurrent_1368dfc3-d77b-46b8-8363-b966568d325d" xlink:to="loc_us-gaap_AccountsPayableTradeCurrent_3c0e4cd6-80ac-46c0-a09c-877a0c758d21" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccountsPayableOtherCurrent_0574558c-caa7-4775-bc23-938aa24664af" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_AccountsPayableOtherCurrent"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AccountsPayableCurrent_1368dfc3-d77b-46b8-8363-b966568d325d" xlink:to="loc_us-gaap_AccountsPayableOtherCurrent_0574558c-caa7-4775-bc23-938aa24664af" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://pubmatic.com/role/BalanceSheetComponentsScheduleofAccruedLiabilitiesDetails" xlink:type="simple" xlink:href="pubm-20241231.xsd#BalanceSheetComponentsScheduleofAccruedLiabilitiesDetails"/>
  <link:calculationLink xlink:role="http://pubmatic.com/role/BalanceSheetComponentsScheduleofAccruedLiabilitiesDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccruedLiabilitiesCurrent_9962756a-966f-401e-b1d1-cb90cd735ba3" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_AccruedLiabilitiesCurrent"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EmployeeRelatedLiabilitiesCurrent_f0c8cfe3-d04d-49ff-af7d-c08f791afb48" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_EmployeeRelatedLiabilitiesCurrent"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AccruedLiabilitiesCurrent_9962756a-966f-401e-b1d1-cb90cd735ba3" xlink:to="loc_us-gaap_EmployeeRelatedLiabilitiesCurrent_f0c8cfe3-d04d-49ff-af7d-c08f791afb48" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherAccruedLiabilitiesCurrent_6cd518a4-6ba3-4594-8992-717c95fa9d11" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_OtherAccruedLiabilitiesCurrent"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_AccruedLiabilitiesCurrent_9962756a-966f-401e-b1d1-cb90cd735ba3" xlink:to="loc_us-gaap_OtherAccruedLiabilitiesCurrent_6cd518a4-6ba3-4594-8992-717c95fa9d11" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://pubmatic.com/role/LeasesScheduleofOperatingandFinanceLeaseCostDetails" xlink:type="simple" xlink:href="pubm-20241231.xsd#LeasesScheduleofOperatingandFinanceLeaseCostDetails"/>
  <link:calculationLink xlink:role="http://pubmatic.com/role/LeasesScheduleofOperatingandFinanceLeaseCostDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LeaseCost_b5ed3021-e689-49c2-996a-351397428ca5" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_LeaseCost"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinanceLeaseRightOfUseAssetAmortization_e5d143e6-f54d-4068-b5f7-8376920614b9" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_FinanceLeaseRightOfUseAssetAmortization"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LeaseCost_b5ed3021-e689-49c2-996a-351397428ca5" xlink:to="loc_us-gaap_FinanceLeaseRightOfUseAssetAmortization_e5d143e6-f54d-4068-b5f7-8376920614b9" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLeaseCost_904238ab-4ede-468d-af75-bb4d3ddecf69" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_OperatingLeaseCost"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LeaseCost_b5ed3021-e689-49c2-996a-351397428ca5" xlink:to="loc_us-gaap_OperatingLeaseCost_904238ab-4ede-468d-af75-bb4d3ddecf69" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://pubmatic.com/role/LeasesScheduleofLeaseMaturityDetails" xlink:type="simple" xlink:href="pubm-20241231.xsd#LeasesScheduleofLeaseMaturityDetails"/>
  <link:calculationLink xlink:role="http://pubmatic.com/role/LeasesScheduleofLeaseMaturityDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_pubm_LesseeOperatingAndFinanceLeaseLiabilityToBePaid_85d77374-bd79-4080-9d9b-c14af16be1cb" xlink:href="pubm-20241231.xsd#pubm_LesseeOperatingAndFinanceLeaseLiabilityToBePaid"/>
    <link:loc xlink:type="locator" xlink:label="loc_pubm_LesseeOperatingAndFinanceLeaseLiabilityToBePaidYearThree_bf5ea3a7-0453-4d7f-a6d3-3cd44548dad2" xlink:href="pubm-20241231.xsd#pubm_LesseeOperatingAndFinanceLeaseLiabilityToBePaidYearThree"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pubm_LesseeOperatingAndFinanceLeaseLiabilityToBePaid_85d77374-bd79-4080-9d9b-c14af16be1cb" xlink:to="loc_pubm_LesseeOperatingAndFinanceLeaseLiabilityToBePaidYearThree_bf5ea3a7-0453-4d7f-a6d3-3cd44548dad2" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_pubm_LesseeOperatingAndFinanceLeaseLiabilityToBePaidYearFive_ce1413a6-ba19-4aec-a60d-7b06a5da8b73" xlink:href="pubm-20241231.xsd#pubm_LesseeOperatingAndFinanceLeaseLiabilityToBePaidYearFive"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pubm_LesseeOperatingAndFinanceLeaseLiabilityToBePaid_85d77374-bd79-4080-9d9b-c14af16be1cb" xlink:to="loc_pubm_LesseeOperatingAndFinanceLeaseLiabilityToBePaidYearFive_ce1413a6-ba19-4aec-a60d-7b06a5da8b73" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_pubm_LesseeOperatingAndFinanceLeaseLiabilityToBePaidYearTwo_334310c0-363c-45fd-b3f0-d97200f2e545" xlink:href="pubm-20241231.xsd#pubm_LesseeOperatingAndFinanceLeaseLiabilityToBePaidYearTwo"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pubm_LesseeOperatingAndFinanceLeaseLiabilityToBePaid_85d77374-bd79-4080-9d9b-c14af16be1cb" xlink:to="loc_pubm_LesseeOperatingAndFinanceLeaseLiabilityToBePaidYearTwo_334310c0-363c-45fd-b3f0-d97200f2e545" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_pubm_LesseeOperatingAndFinanceLeaseLiabilityToBePaidAfterYearFive_0925bcf5-840c-47de-b357-67ebaf742e3f" xlink:href="pubm-20241231.xsd#pubm_LesseeOperatingAndFinanceLeaseLiabilityToBePaidAfterYearFive"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pubm_LesseeOperatingAndFinanceLeaseLiabilityToBePaid_85d77374-bd79-4080-9d9b-c14af16be1cb" xlink:to="loc_pubm_LesseeOperatingAndFinanceLeaseLiabilityToBePaidAfterYearFive_0925bcf5-840c-47de-b357-67ebaf742e3f" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_pubm_LesseeOperatingAndFinanceLeaseLiabilityToBePaidYearFour_03c1bf52-9d80-49da-beec-0d91523740dd" xlink:href="pubm-20241231.xsd#pubm_LesseeOperatingAndFinanceLeaseLiabilityToBePaidYearFour"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pubm_LesseeOperatingAndFinanceLeaseLiabilityToBePaid_85d77374-bd79-4080-9d9b-c14af16be1cb" xlink:to="loc_pubm_LesseeOperatingAndFinanceLeaseLiabilityToBePaidYearFour_03c1bf52-9d80-49da-beec-0d91523740dd" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_pubm_LesseeOperatingAndFinanceLeaseLiabilityToBePaidYearOne_a8a6add2-8ab2-45f1-98e6-b2fa09543d36" xlink:href="pubm-20241231.xsd#pubm_LesseeOperatingAndFinanceLeaseLiabilityToBePaidYearOne"/>
    <link:calculationArc order="6" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pubm_LesseeOperatingAndFinanceLeaseLiabilityToBePaid_85d77374-bd79-4080-9d9b-c14af16be1cb" xlink:to="loc_pubm_LesseeOperatingAndFinanceLeaseLiabilityToBePaidYearOne_a8a6add2-8ab2-45f1-98e6-b2fa09543d36" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinanceLeaseLiabilityPaymentsDue_3d99bf0c-03ae-4b13-ad86-bd81aa0365a0" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_FinanceLeaseLiabilityPaymentsDue"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearFour_38997b32-4c85-4d88-ad80-383cc5598a12" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_FinanceLeaseLiabilityPaymentsDueYearFour"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_FinanceLeaseLiabilityPaymentsDue_3d99bf0c-03ae-4b13-ad86-bd81aa0365a0" xlink:to="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearFour_38997b32-4c85-4d88-ad80-383cc5598a12" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearTwo_2fa6f463-440a-4ebe-a979-4c020cfaff6b" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_FinanceLeaseLiabilityPaymentsDueYearTwo"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_FinanceLeaseLiabilityPaymentsDue_3d99bf0c-03ae-4b13-ad86-bd81aa0365a0" xlink:to="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearTwo_2fa6f463-440a-4ebe-a979-4c020cfaff6b" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearFive_0ad299e6-b22a-44f8-9f2a-2658d6763c6f" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_FinanceLeaseLiabilityPaymentsDueYearFive"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_FinanceLeaseLiabilityPaymentsDue_3d99bf0c-03ae-4b13-ad86-bd81aa0365a0" xlink:to="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearFive_0ad299e6-b22a-44f8-9f2a-2658d6763c6f" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearThree_a1a1091f-9952-456c-b78f-1ce74e7195ba" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_FinanceLeaseLiabilityPaymentsDueYearThree"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_FinanceLeaseLiabilityPaymentsDue_3d99bf0c-03ae-4b13-ad86-bd81aa0365a0" xlink:to="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearThree_a1a1091f-9952-456c-b78f-1ce74e7195ba" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueAfterYearFive_b785e644-2020-41a9-9227-e6c8f7664a78" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_FinanceLeaseLiabilityPaymentsDueAfterYearFive"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_FinanceLeaseLiabilityPaymentsDue_3d99bf0c-03ae-4b13-ad86-bd81aa0365a0" xlink:to="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueAfterYearFive_b785e644-2020-41a9-9227-e6c8f7664a78" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueNextTwelveMonths_58d43bc4-5075-43b0-9c69-9bc5964fa11f" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_FinanceLeaseLiabilityPaymentsDueNextTwelveMonths"/>
    <link:calculationArc order="6" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_FinanceLeaseLiabilityPaymentsDue_3d99bf0c-03ae-4b13-ad86-bd81aa0365a0" xlink:to="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueNextTwelveMonths_58d43bc4-5075-43b0-9c69-9bc5964fa11f" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_pubm_LesseeOperatingAndFinanceLeaseLiabilityToBePaidYearThree_3dc282db-a188-4537-a18f-15e8a430b43d" xlink:href="pubm-20241231.xsd#pubm_LesseeOperatingAndFinanceLeaseLiabilityToBePaidYearThree"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearThree_56e6e303-450a-4770-ac5e-77c0a6bc47ed" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearThree"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pubm_LesseeOperatingAndFinanceLeaseLiabilityToBePaidYearThree_3dc282db-a188-4537-a18f-15e8a430b43d" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearThree_56e6e303-450a-4770-ac5e-77c0a6bc47ed" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearThree_cef5c95c-e724-402a-b9b0-ae31edef0bcb" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_FinanceLeaseLiabilityPaymentsDueYearThree"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pubm_LesseeOperatingAndFinanceLeaseLiabilityToBePaidYearThree_3dc282db-a188-4537-a18f-15e8a430b43d" xlink:to="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearThree_cef5c95c-e724-402a-b9b0-ae31edef0bcb" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_pubm_LesseeOperatingAndFinanceLeaseLiabilityToBePaidYearFour_221beaee-f3c3-49f4-ad2b-4676ffe9fa44" xlink:href="pubm-20241231.xsd#pubm_LesseeOperatingAndFinanceLeaseLiabilityToBePaidYearFour"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFour_2fb3da87-6671-46a4-853d-74db6da70a58" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFour"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pubm_LesseeOperatingAndFinanceLeaseLiabilityToBePaidYearFour_221beaee-f3c3-49f4-ad2b-4676ffe9fa44" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFour_2fb3da87-6671-46a4-853d-74db6da70a58" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearFour_d59a7979-0858-4487-ae24-c0d27d402551" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_FinanceLeaseLiabilityPaymentsDueYearFour"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pubm_LesseeOperatingAndFinanceLeaseLiabilityToBePaidYearFour_221beaee-f3c3-49f4-ad2b-4676ffe9fa44" xlink:to="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearFour_d59a7979-0858-4487-ae24-c0d27d402551" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_pubm_OperatingAndFinanceLeaseLiability_f95961b8-42f0-4230-935f-b71dbcd53a3c" xlink:href="pubm-20241231.xsd#pubm_OperatingAndFinanceLeaseLiability"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLeaseLiability_7e5262c4-344a-46a8-b575-1a5c610b543e" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_OperatingLeaseLiability"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pubm_OperatingAndFinanceLeaseLiability_f95961b8-42f0-4230-935f-b71dbcd53a3c" xlink:to="loc_us-gaap_OperatingLeaseLiability_7e5262c4-344a-46a8-b575-1a5c610b543e" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinanceLeaseLiability_29229656-fa74-4dc4-a686-54116b16329c" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_FinanceLeaseLiability"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pubm_OperatingAndFinanceLeaseLiability_f95961b8-42f0-4230-935f-b71dbcd53a3c" xlink:to="loc_us-gaap_FinanceLeaseLiability_29229656-fa74-4dc4-a686-54116b16329c" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_pubm_LesseeOperatingAndFinanceLeaseLiabilityToBePaidYearTwo_e6503597-e8fc-4a4c-b365-ff678b658bf3" xlink:href="pubm-20241231.xsd#pubm_LesseeOperatingAndFinanceLeaseLiabilityToBePaidYearTwo"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_e2512e97-4700-47c9-a53b-127675b68f0f" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearTwo"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pubm_LesseeOperatingAndFinanceLeaseLiabilityToBePaidYearTwo_e6503597-e8fc-4a4c-b365-ff678b658bf3" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_e2512e97-4700-47c9-a53b-127675b68f0f" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearTwo_03d26236-f21f-49ff-9eeb-86d90476e26d" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_FinanceLeaseLiabilityPaymentsDueYearTwo"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pubm_LesseeOperatingAndFinanceLeaseLiabilityToBePaidYearTwo_e6503597-e8fc-4a4c-b365-ff678b658bf3" xlink:to="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearTwo_03d26236-f21f-49ff-9eeb-86d90476e26d" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_pubm_LesseeOperatingAndFinanceLeaseLiabilityToBePaidYearFive_8bbcf35a-1d89-4b7f-896f-36b5ddab7013" xlink:href="pubm-20241231.xsd#pubm_LesseeOperatingAndFinanceLeaseLiabilityToBePaidYearFive"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearFive_ac2cffca-1674-4198-b098-6ad2ce9ab72c" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_FinanceLeaseLiabilityPaymentsDueYearFive"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pubm_LesseeOperatingAndFinanceLeaseLiabilityToBePaidYearFive_8bbcf35a-1d89-4b7f-896f-36b5ddab7013" xlink:to="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueYearFive_ac2cffca-1674-4198-b098-6ad2ce9ab72c" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFive_75234969-a9a7-4cbb-a564-f86b966d3ef1" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFive"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pubm_LesseeOperatingAndFinanceLeaseLiabilityToBePaidYearFive_8bbcf35a-1d89-4b7f-896f-36b5ddab7013" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFive_75234969-a9a7-4cbb-a564-f86b966d3ef1" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_pubm_LesseeOperatingAndFinanceLeaseLiabilityUndiscountedExcessAmount_63ff8bf8-dd1a-4980-a796-1ecdd21c8f63" xlink:href="pubm-20241231.xsd#pubm_LesseeOperatingAndFinanceLeaseLiabilityUndiscountedExcessAmount"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_a26712f4-167b-4f9b-af01-4f3ae0c8dc68" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pubm_LesseeOperatingAndFinanceLeaseLiabilityUndiscountedExcessAmount_63ff8bf8-dd1a-4980-a796-1ecdd21c8f63" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_a26712f4-167b-4f9b-af01-4f3ae0c8dc68" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinanceLeaseLiabilityUndiscountedExcessAmount_a96fff13-d3b9-44db-9074-cde3e7191df0" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_FinanceLeaseLiabilityUndiscountedExcessAmount"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pubm_LesseeOperatingAndFinanceLeaseLiabilityUndiscountedExcessAmount_63ff8bf8-dd1a-4980-a796-1ecdd21c8f63" xlink:to="loc_us-gaap_FinanceLeaseLiabilityUndiscountedExcessAmount_a96fff13-d3b9-44db-9074-cde3e7191df0" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_pubm_LesseeOperatingAndFinanceLeaseLiabilityToBePaidYearOne_62092334-54d2-45ca-a8fd-81f538f655df" xlink:href="pubm-20241231.xsd#pubm_LesseeOperatingAndFinanceLeaseLiabilityToBePaidYearOne"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueNextTwelveMonths_51000889-2f52-462a-a3cb-24e606773731" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_FinanceLeaseLiabilityPaymentsDueNextTwelveMonths"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pubm_LesseeOperatingAndFinanceLeaseLiabilityToBePaidYearOne_62092334-54d2-45ca-a8fd-81f538f655df" xlink:to="loc_us-gaap_FinanceLeaseLiabilityPaymentsDueNextTwelveMonths_51000889-2f52-462a-a3cb-24e606773731" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_342f821a-91d2-4766-8522-a6af8452fcff" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pubm_LesseeOperatingAndFinanceLeaseLiabilityToBePaidYearOne_62092334-54d2-45ca-a8fd-81f538f655df" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_342f821a-91d2-4766-8522-a6af8452fcff" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_040934a4-5639-4aa6-9d8d-836c1f7ce644" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLeaseLiability_fa56b1b1-fe59-472b-9fe7-0afb8cac7ade" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_OperatingLeaseLiability"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_040934a4-5639-4aa6-9d8d-836c1f7ce644" xlink:to="loc_us-gaap_OperatingLeaseLiability_fa56b1b1-fe59-472b-9fe7-0afb8cac7ade" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_2458731d-d3ae-40a3-8372-5d6cd449fa45" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_040934a4-5639-4aa6-9d8d-836c1f7ce644" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_2458731d-d3ae-40a3-8372-5d6cd449fa45" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://pubmatic.com/role/LeasesScheduleofLeaseMaturityDetails_1" xlink:type="simple" xlink:href="pubm-20241231.xsd#LeasesScheduleofLeaseMaturityDetails_1"/>
  <link:calculationLink xlink:role="http://pubmatic.com/role/LeasesScheduleofLeaseMaturityDetails_1" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_pubm_LesseeOperatingAndFinanceLeaseLiabilityToBePaid_f19b337c-7976-4e95-9598-b1bbb0b08df1" xlink:href="pubm-20241231.xsd#pubm_LesseeOperatingAndFinanceLeaseLiabilityToBePaid"/>
    <link:loc xlink:type="locator" xlink:label="loc_pubm_OperatingAndFinanceLeaseLiability_5903302e-b518-4383-9a1b-1532c0432a27" xlink:href="pubm-20241231.xsd#pubm_OperatingAndFinanceLeaseLiability"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pubm_LesseeOperatingAndFinanceLeaseLiabilityToBePaid_f19b337c-7976-4e95-9598-b1bbb0b08df1" xlink:to="loc_pubm_OperatingAndFinanceLeaseLiability_5903302e-b518-4383-9a1b-1532c0432a27" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_pubm_LesseeOperatingAndFinanceLeaseLiabilityUndiscountedExcessAmount_5a0f7c45-af7a-49d4-8028-4e463c93cc40" xlink:href="pubm-20241231.xsd#pubm_LesseeOperatingAndFinanceLeaseLiabilityUndiscountedExcessAmount"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pubm_LesseeOperatingAndFinanceLeaseLiabilityToBePaid_f19b337c-7976-4e95-9598-b1bbb0b08df1" xlink:to="loc_pubm_LesseeOperatingAndFinanceLeaseLiabilityUndiscountedExcessAmount_5a0f7c45-af7a-49d4-8028-4e463c93cc40" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinanceLeaseLiabilityPaymentsDue_b5474bac-cc19-42a5-9619-00769e1a6245" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_FinanceLeaseLiabilityPaymentsDue"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinanceLeaseLiability_bfeef5c9-6658-43b7-8d12-b192066ee735" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_FinanceLeaseLiability"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_FinanceLeaseLiabilityPaymentsDue_b5474bac-cc19-42a5-9619-00769e1a6245" xlink:to="loc_us-gaap_FinanceLeaseLiability_bfeef5c9-6658-43b7-8d12-b192066ee735" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinanceLeaseLiabilityUndiscountedExcessAmount_92820794-7e2e-48e1-8834-45b8e0bdfd77" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_FinanceLeaseLiabilityUndiscountedExcessAmount"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_FinanceLeaseLiabilityPaymentsDue_b5474bac-cc19-42a5-9619-00769e1a6245" xlink:to="loc_us-gaap_FinanceLeaseLiabilityUndiscountedExcessAmount_92820794-7e2e-48e1-8834-45b8e0bdfd77" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_ccf1d3b2-14d7-4890-824f-1e26f23c5f22" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearThree_4cdc94d7-b972-41f3-943d-0108fba5eb81" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearThree"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_ccf1d3b2-14d7-4890-824f-1e26f23c5f22" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearThree_4cdc94d7-b972-41f3-943d-0108fba5eb81" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFive_1b35a6f7-6f86-43e3-8793-aa3e972fda66" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFive"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_ccf1d3b2-14d7-4890-824f-1e26f23c5f22" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFive_1b35a6f7-6f86-43e3-8793-aa3e972fda66" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive_c3ca2119-9ad6-4789-bcd9-7033d0b6f619" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_ccf1d3b2-14d7-4890-824f-1e26f23c5f22" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive_c3ca2119-9ad6-4789-bcd9-7033d0b6f619" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_7a8783d7-d5a4-481b-9569-b89785bab87e" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearTwo"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_ccf1d3b2-14d7-4890-824f-1e26f23c5f22" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_7a8783d7-d5a4-481b-9569-b89785bab87e" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFour_d50a87ef-0bd2-495a-9952-8147e7853732" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFour"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_ccf1d3b2-14d7-4890-824f-1e26f23c5f22" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFour_d50a87ef-0bd2-495a-9952-8147e7853732" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_46528b05-5dda-44e3-8dce-ae99c9c993d3" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths"/>
    <link:calculationArc order="6" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_ccf1d3b2-14d7-4890-824f-1e26f23c5f22" xlink:to="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_46528b05-5dda-44e3-8dce-ae99c9c993d3" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://pubmatic.com/role/GoodwillandAcquisitionrelatedIntangibleAssetsNetScheduleofEstimatedFutureAmortizationDetails" xlink:type="simple" xlink:href="pubm-20241231.xsd#GoodwillandAcquisitionrelatedIntangibleAssetsNetScheduleofEstimatedFutureAmortizationDetails"/>
  <link:calculationLink xlink:role="http://pubmatic.com/role/GoodwillandAcquisitionrelatedIntangibleAssetsNetScheduleofEstimatedFutureAmortizationDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsNet_3305d530-d6b3-497b-881d-fc02d4b8ba58" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_FiniteLivedIntangibleAssetsNet"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_eefb2e51-7f27-4de8-994a-b5a130841a77" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsNet_3305d530-d6b3-497b-881d-fc02d4b8ba58" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_eefb2e51-7f27-4de8-994a-b5a130841a77" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_ff525750-5d15-4e8d-98a6-dc65f44cae2e" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsNet_3305d530-d6b3-497b-881d-fc02d4b8ba58" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_ff525750-5d15-4e8d-98a6-dc65f44cae2e" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_8e016a70-f26d-4552-88fe-bdc104ab1f6d" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsNet_3305d530-d6b3-497b-881d-fc02d4b8ba58" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_8e016a70-f26d-4552-88fe-bdc104ab1f6d" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://pubmatic.com/role/CommitmentsandContingenciesScheduleofFutureMinimumCommitmentsDetails" xlink:type="simple" xlink:href="pubm-20241231.xsd#CommitmentsandContingenciesScheduleofFutureMinimumCommitmentsDetails"/>
  <link:calculationLink xlink:role="http://pubmatic.com/role/CommitmentsandContingenciesScheduleofFutureMinimumCommitmentsDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ContractualObligation_2caf886d-bd47-41a3-ad6c-dddde12941dd" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_ContractualObligation"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ContractualObligationDueInNextTwelveMonths_617d2a34-f233-4bad-9448-d3d60f46b715" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_ContractualObligationDueInNextTwelveMonths"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ContractualObligation_2caf886d-bd47-41a3-ad6c-dddde12941dd" xlink:to="loc_us-gaap_ContractualObligationDueInNextTwelveMonths_617d2a34-f233-4bad-9448-d3d60f46b715" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ContractualObligationDueInSecondYear_58c9b875-5729-436d-8175-878f6d5b300c" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_ContractualObligationDueInSecondYear"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ContractualObligation_2caf886d-bd47-41a3-ad6c-dddde12941dd" xlink:to="loc_us-gaap_ContractualObligationDueInSecondYear_58c9b875-5729-436d-8175-878f6d5b300c" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ContractualObligationDueInThirdYear_5d9bf47c-b546-4c7e-8665-2599b61af0c6" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_ContractualObligationDueInThirdYear"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ContractualObligation_2caf886d-bd47-41a3-ad6c-dddde12941dd" xlink:to="loc_us-gaap_ContractualObligationDueInThirdYear_5d9bf47c-b546-4c7e-8665-2599b61af0c6" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://pubmatic.com/role/StockholdersEquityandEquityIncentivePlansScheduleofStockbasedCompensationExpenseDetails" xlink:type="simple" xlink:href="pubm-20241231.xsd#StockholdersEquityandEquityIncentivePlansScheduleofStockbasedCompensationExpenseDetails"/>
  <link:calculationLink xlink:role="http://pubmatic.com/role/StockholdersEquityandEquityIncentivePlansScheduleofStockbasedCompensationExpenseDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_pubm_ShareBasedPaymentArrangementExpenseNet_c90e0c78-86e1-4298-918b-3b44b6f5f1af" xlink:href="pubm-20241231.xsd#pubm_ShareBasedPaymentArrangementExpenseNet"/>
    <link:loc xlink:type="locator" xlink:label="loc_pubm_ShareBasedPaymentArrangementTaxBenefit_079ed62f-e15d-495a-8f4f-17faa975455f" xlink:href="pubm-20241231.xsd#pubm_ShareBasedPaymentArrangementTaxBenefit"/>
    <link:calculationArc order="1" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pubm_ShareBasedPaymentArrangementExpenseNet_c90e0c78-86e1-4298-918b-3b44b6f5f1af" xlink:to="loc_pubm_ShareBasedPaymentArrangementTaxBenefit_079ed62f-e15d-495a-8f4f-17faa975455f" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AllocatedShareBasedCompensationExpense_c7f7e1d3-b0b1-4734-be53-ddb4bcf90f4d" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_AllocatedShareBasedCompensationExpense"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pubm_ShareBasedPaymentArrangementExpenseNet_c90e0c78-86e1-4298-918b-3b44b6f5f1af" xlink:to="loc_us-gaap_AllocatedShareBasedCompensationExpense_c7f7e1d3-b0b1-4734-be53-ddb4bcf90f4d" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://pubmatic.com/role/NetIncomePerShareAttributabletoCommonStockholdersScheduleofBasicandDilutedNetIncomeperShareDetails" xlink:type="simple" xlink:href="pubm-20241231.xsd#NetIncomePerShareAttributabletoCommonStockholdersScheduleofBasicandDilutedNetIncomeperShareDetails"/>
  <link:calculationLink xlink:role="http://pubmatic.com/role/NetIncomePerShareAttributabletoCommonStockholdersScheduleofBasicandDilutedNetIncomeperShareDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_7996d316-3a5d-426b-a489-9bfc5fce22fb" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_b1f13911-cf17-42d2-b695-53ed08398937" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingBasic"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_7996d316-3a5d-426b-a489-9bfc5fce22fb" xlink:to="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_b1f13911-cf17-42d2-b695-53ed08398937" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_pubm_IncrementalCommonSharesAttributableToDilutiveEffectOfCallOptions_18218f28-7261-4359-a6ce-77600f9ff02b" xlink:href="pubm-20241231.xsd#pubm_IncrementalCommonSharesAttributableToDilutiveEffectOfCallOptions"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_7996d316-3a5d-426b-a489-9bfc5fce22fb" xlink:to="loc_pubm_IncrementalCommonSharesAttributableToDilutiveEffectOfCallOptions_18218f28-7261-4359-a6ce-77600f9ff02b" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_pubm_IncrementalCommonSharesAttributableToRestrictedStock_5c47844a-4a8a-4756-be6d-75e1d75499fb" xlink:href="pubm-20241231.xsd#pubm_IncrementalCommonSharesAttributableToRestrictedStock"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_7996d316-3a5d-426b-a489-9bfc5fce22fb" xlink:to="loc_pubm_IncrementalCommonSharesAttributableToRestrictedStock_5c47844a-4a8a-4756-be6d-75e1d75499fb" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_pubm_IncrementalCommonSharesAttributableToEmployeeStockPurchasePlan_92ca1a8d-fbfe-424a-8c36-dfd40bb86214" xlink:href="pubm-20241231.xsd#pubm_IncrementalCommonSharesAttributableToEmployeeStockPurchasePlan"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_7996d316-3a5d-426b-a489-9bfc5fce22fb" xlink:to="loc_pubm_IncrementalCommonSharesAttributableToEmployeeStockPurchasePlan_92ca1a8d-fbfe-424a-8c36-dfd40bb86214" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://pubmatic.com/role/IncomeTaxesScheduleofIncomeBeforeProvisionforIncomeTaxesDetails" xlink:type="simple" xlink:href="pubm-20241231.xsd#IncomeTaxesScheduleofIncomeBeforeProvisionforIncomeTaxesDetails"/>
  <link:calculationLink xlink:role="http://pubmatic.com/role/IncomeTaxesScheduleofIncomeBeforeProvisionforIncomeTaxesDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_0afce512-e248-4e26-8ddf-b4c5326c4cea" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic_22a619a5-5984-4aad-bfd3-b998ebadf559" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_0afce512-e248-4e26-8ddf-b4c5326c4cea" xlink:to="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic_22a619a5-5984-4aad-bfd3-b998ebadf559" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_66842c11-b699-4575-9fd1-d822ca7c40d7" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_0afce512-e248-4e26-8ddf-b4c5326c4cea" xlink:to="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign_66842c11-b699-4575-9fd1-d822ca7c40d7" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://pubmatic.com/role/IncomeTaxesScheduleofProvisionforIncomeTaxesDetails" xlink:type="simple" xlink:href="pubm-20241231.xsd#IncomeTaxesScheduleofProvisionforIncomeTaxesDetails"/>
  <link:calculationLink xlink:role="http://pubmatic.com/role/IncomeTaxesScheduleofProvisionforIncomeTaxesDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeTaxExpenseBenefit_c2c55d64-b9d8-40c2-a910-c795c510b5c9" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_IncomeTaxExpenseBenefit"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CurrentIncomeTaxExpenseBenefit_ee41a356-91e9-41bf-8694-8fd71ad263e8" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_CurrentIncomeTaxExpenseBenefit"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeTaxExpenseBenefit_c2c55d64-b9d8-40c2-a910-c795c510b5c9" xlink:to="loc_us-gaap_CurrentIncomeTaxExpenseBenefit_ee41a356-91e9-41bf-8694-8fd71ad263e8" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_pubm_DeferredIncomeTaxExpenseBenefitExcludingNetDeferredTaxLiabilityFromAcquisition_8b6dc668-a542-4024-b862-21edce96634a" xlink:href="pubm-20241231.xsd#pubm_DeferredIncomeTaxExpenseBenefitExcludingNetDeferredTaxLiabilityFromAcquisition"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeTaxExpenseBenefit_c2c55d64-b9d8-40c2-a910-c795c510b5c9" xlink:to="loc_pubm_DeferredIncomeTaxExpenseBenefitExcludingNetDeferredTaxLiabilityFromAcquisition_8b6dc668-a542-4024-b862-21edce96634a" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_pubm_DeferredIncomeTaxExpenseBenefitExcludingNetDeferredTaxLiabilityFromAcquisition_aad68142-ad9d-4b1f-a637-ec76e9f4926c" xlink:href="pubm-20241231.xsd#pubm_DeferredIncomeTaxExpenseBenefitExcludingNetDeferredTaxLiabilityFromAcquisition"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit_f5b512c6-37fd-4836-a332-4bd93b70277f" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pubm_DeferredIncomeTaxExpenseBenefitExcludingNetDeferredTaxLiabilityFromAcquisition_aad68142-ad9d-4b1f-a637-ec76e9f4926c" xlink:to="loc_us-gaap_DeferredStateAndLocalIncomeTaxExpenseBenefit_f5b512c6-37fd-4836-a332-4bd93b70277f" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredFederalIncomeTaxExpenseBenefit_eed920f4-6122-4358-add3-a4b68329ea6f" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_DeferredFederalIncomeTaxExpenseBenefit"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pubm_DeferredIncomeTaxExpenseBenefitExcludingNetDeferredTaxLiabilityFromAcquisition_aad68142-ad9d-4b1f-a637-ec76e9f4926c" xlink:to="loc_us-gaap_DeferredFederalIncomeTaxExpenseBenefit_eed920f4-6122-4358-add3-a4b68329ea6f" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredForeignIncomeTaxExpenseBenefit_81ade4b7-b7ab-4e7a-8df3-e86efba8ad01" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_DeferredForeignIncomeTaxExpenseBenefit"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_pubm_DeferredIncomeTaxExpenseBenefitExcludingNetDeferredTaxLiabilityFromAcquisition_aad68142-ad9d-4b1f-a637-ec76e9f4926c" xlink:to="loc_us-gaap_DeferredForeignIncomeTaxExpenseBenefit_81ade4b7-b7ab-4e7a-8df3-e86efba8ad01" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CurrentIncomeTaxExpenseBenefit_7ff22bcd-2908-4b56-b75b-ea236fa91e61" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_CurrentIncomeTaxExpenseBenefit"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CurrentFederalTaxExpenseBenefit_718fdd0d-e744-42f2-aab1-cac96ccb450f" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_CurrentFederalTaxExpenseBenefit"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CurrentIncomeTaxExpenseBenefit_7ff22bcd-2908-4b56-b75b-ea236fa91e61" xlink:to="loc_us-gaap_CurrentFederalTaxExpenseBenefit_718fdd0d-e744-42f2-aab1-cac96ccb450f" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CurrentForeignTaxExpenseBenefit_05bc4317-6948-44c7-ab63-fe15e264665d" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_CurrentForeignTaxExpenseBenefit"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CurrentIncomeTaxExpenseBenefit_7ff22bcd-2908-4b56-b75b-ea236fa91e61" xlink:to="loc_us-gaap_CurrentForeignTaxExpenseBenefit_05bc4317-6948-44c7-ab63-fe15e264665d" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CurrentStateAndLocalTaxExpenseBenefit_9f84eda8-9a4a-45c2-891c-7637cd00e309" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_CurrentStateAndLocalTaxExpenseBenefit"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CurrentIncomeTaxExpenseBenefit_7ff22bcd-2908-4b56-b75b-ea236fa91e61" xlink:to="loc_us-gaap_CurrentStateAndLocalTaxExpenseBenefit_9f84eda8-9a4a-45c2-891c-7637cd00e309" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://pubmatic.com/role/IncomeTaxesScheduleofEffectiveIncomeAfterTaxRateDetails" xlink:type="simple" xlink:href="pubm-20241231.xsd#IncomeTaxesScheduleofEffectiveIncomeAfterTaxRateDetails"/>
  <link:calculationLink xlink:role="http://pubmatic.com/role/IncomeTaxesScheduleofEffectiveIncomeAfterTaxRateDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateContinuingOperations_b978b212-0456-4be8-8820-58752ec0c8c7" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_EffectiveIncomeTaxRateContinuingOperations"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationTaxCreditsResearch_e70d78af-b333-4fa6-b0c0-82a76a3080d1" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationTaxCreditsResearch"/>
    <link:calculationArc order="1" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateContinuingOperations_b978b212-0456-4be8-8820-58752ec0c8c7" xlink:to="loc_us-gaap_EffectiveIncomeTaxRateReconciliationTaxCreditsResearch_e70d78af-b333-4fa6-b0c0-82a76a3080d1" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_a38ad36c-71d3-47eb-9e69-c00fa40ebdd0" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateContinuingOperations_b978b212-0456-4be8-8820-58752ec0c8c7" xlink:to="loc_us-gaap_EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance_a38ad36c-71d3-47eb-9e69-c00fa40ebdd0" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationFdiiPercent_15980159-24aa-4fee-b6b9-f26b8f8e91f8" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationFdiiPercent"/>
    <link:calculationArc order="3" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateContinuingOperations_b978b212-0456-4be8-8820-58752ec0c8c7" xlink:to="loc_us-gaap_EffectiveIncomeTaxRateReconciliationFdiiPercent_15980159-24aa-4fee-b6b9-f26b8f8e91f8" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_6a194fca-9bb4-48d8-8df2-8d0510baa4e1" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateContinuingOperations_b978b212-0456-4be8-8820-58752ec0c8c7" xlink:to="loc_us-gaap_EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes_6a194fca-9bb4-48d8-8df2-8d0510baa4e1" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential_282d8295-7e7d-429b-9124-d2b6855b7983" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateContinuingOperations_b978b212-0456-4be8-8820-58752ec0c8c7" xlink:to="loc_us-gaap_EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential_282d8295-7e7d-429b-9124-d2b6855b7983" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_95369ba4-2661-4a40-95ed-4461d951c4d4" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate"/>
    <link:calculationArc order="6" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateContinuingOperations_b978b212-0456-4be8-8820-58752ec0c8c7" xlink:to="loc_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_95369ba4-2661-4a40-95ed-4461d951c4d4" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_pubm_EffectiveIncomeTaxRateReconciliationTransferPricingReservePercent_c6980cbf-7c2d-49a2-9272-b5baefca8498" xlink:href="pubm-20241231.xsd#pubm_EffectiveIncomeTaxRateReconciliationTransferPricingReservePercent"/>
    <link:calculationArc order="7" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateContinuingOperations_b978b212-0456-4be8-8820-58752ec0c8c7" xlink:to="loc_pubm_EffectiveIncomeTaxRateReconciliationTransferPricingReservePercent_c6980cbf-7c2d-49a2-9272-b5baefca8498" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost_b851e203-e774-4d3b-9dbc-19507243a08a" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost"/>
    <link:calculationArc order="8" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateContinuingOperations_b978b212-0456-4be8-8820-58752ec0c8c7" xlink:to="loc_us-gaap_EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost_b851e203-e774-4d3b-9dbc-19507243a08a" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationOtherAdjustments_5a2c74af-aefc-456d-a75e-a503a0295b0e" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationOtherAdjustments"/>
    <link:calculationArc order="9" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateContinuingOperations_b978b212-0456-4be8-8820-58752ec0c8c7" xlink:to="loc_us-gaap_EffectiveIncomeTaxRateReconciliationOtherAdjustments_5a2c74af-aefc-456d-a75e-a503a0295b0e" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_pubm_EffectiveIncomeTaxRateReconciliationDeductionCoverEmployeesPercent_d1508637-f69e-45df-93f7-35b23e644e0a" xlink:href="pubm-20241231.xsd#pubm_EffectiveIncomeTaxRateReconciliationDeductionCoverEmployeesPercent"/>
    <link:calculationArc order="10" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateContinuingOperations_b978b212-0456-4be8-8820-58752ec0c8c7" xlink:to="loc_pubm_EffectiveIncomeTaxRateReconciliationDeductionCoverEmployeesPercent_d1508637-f69e-45df-93f7-35b23e644e0a" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_pubm_EffectiveIncomeTaxRateReconciliationAcquisitionRelatedCosts_9b31e1bb-c161-403a-9a5c-62245106b313" xlink:href="pubm-20241231.xsd#pubm_EffectiveIncomeTaxRateReconciliationAcquisitionRelatedCosts"/>
    <link:calculationArc order="11" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateContinuingOperations_b978b212-0456-4be8-8820-58752ec0c8c7" xlink:to="loc_pubm_EffectiveIncomeTaxRateReconciliationAcquisitionRelatedCosts_9b31e1bb-c161-403a-9a5c-62245106b313" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationGiltiPercent_ee2334ca-fecf-4e4d-9f0d-784086d44fd9" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationGiltiPercent"/>
    <link:calculationArc order="12" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateContinuingOperations_b978b212-0456-4be8-8820-58752ec0c8c7" xlink:to="loc_us-gaap_EffectiveIncomeTaxRateReconciliationGiltiPercent_ee2334ca-fecf-4e4d-9f0d-784086d44fd9" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://pubmatic.com/role/IncomeTaxesScheduleofDeferredIncomeTaxAssetsLiabilitiesDetails" xlink:type="simple" xlink:href="pubm-20241231.xsd#IncomeTaxesScheduleofDeferredIncomeTaxAssetsLiabilitiesDetails"/>
  <link:calculationLink xlink:role="http://pubmatic.com/role/IncomeTaxesScheduleofDeferredIncomeTaxAssetsLiabilitiesDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxAssetsNet_85a3382b-4bce-49c7-a17a-64ec132551a6" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_DeferredTaxAssetsNet"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxAssetsValuationAllowance_61265e7b-a501-4788-b778-74499266c23e" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_DeferredTaxAssetsValuationAllowance"/>
    <link:calculationArc order="1" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsNet_85a3382b-4bce-49c7-a17a-64ec132551a6" xlink:to="loc_us-gaap_DeferredTaxAssetsValuationAllowance_61265e7b-a501-4788-b778-74499266c23e" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxAssetsGross_4fb1b226-5b30-49a3-9c62-54fe3f92c6e5" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_DeferredTaxAssetsGross"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsNet_85a3382b-4bce-49c7-a17a-64ec132551a6" xlink:to="loc_us-gaap_DeferredTaxAssetsGross_4fb1b226-5b30-49a3-9c62-54fe3f92c6e5" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxAssetsGross_68f19f90-7e00-4505-927a-b249695b12ef" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_DeferredTaxAssetsGross"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxAssetsOperatingLossCarryforwards_65cb9ea4-84c2-4faa-9c8f-89961e02ce74" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_DeferredTaxAssetsOperatingLossCarryforwards"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsGross_68f19f90-7e00-4505-927a-b249695b12ef" xlink:to="loc_us-gaap_DeferredTaxAssetsOperatingLossCarryforwards_65cb9ea4-84c2-4faa-9c8f-89961e02ce74" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxAssetsTaxCreditCarryforwards_a3f36789-44d9-4207-800a-2029c07ac493" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_DeferredTaxAssetsTaxCreditCarryforwards"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsGross_68f19f90-7e00-4505-927a-b249695b12ef" xlink:to="loc_us-gaap_DeferredTaxAssetsTaxCreditCarryforwards_a3f36789-44d9-4207-800a-2029c07ac493" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals_566f4e6d-ecd0-45fb-99f4-6e56b363ba08" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsGross_68f19f90-7e00-4505-927a-b249695b12ef" xlink:to="loc_us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals_566f4e6d-ecd0-45fb-99f4-6e56b363ba08" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost_61368d9e-33e1-4588-831e-8fc45866ace0" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsGross_68f19f90-7e00-4505-927a-b249695b12ef" xlink:to="loc_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost_61368d9e-33e1-4588-831e-8fc45866ace0" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxAssetsOther_15dd317f-3495-43c1-8147-b7a57730beaf" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_DeferredTaxAssetsOther"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsGross_68f19f90-7e00-4505-927a-b249695b12ef" xlink:to="loc_us-gaap_DeferredTaxAssetsOther_15dd317f-3495-43c1-8147-b7a57730beaf" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxAssetsGoodwillAndIntangibleAssets_25d5c249-7e23-431d-95b3-1acdfee6e5dc" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_DeferredTaxAssetsGoodwillAndIntangibleAssets"/>
    <link:calculationArc order="6" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsGross_68f19f90-7e00-4505-927a-b249695b12ef" xlink:to="loc_us-gaap_DeferredTaxAssetsGoodwillAndIntangibleAssets_25d5c249-7e23-431d-95b3-1acdfee6e5dc" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_pubm_DeferredTaxAssetsLeaseObligation_e201c3bb-e725-473d-9884-bed2fc6a9664" xlink:href="pubm-20241231.xsd#pubm_DeferredTaxAssetsLeaseObligation"/>
    <link:calculationArc order="7" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsGross_68f19f90-7e00-4505-927a-b249695b12ef" xlink:to="loc_pubm_DeferredTaxAssetsLeaseObligation_e201c3bb-e725-473d-9884-bed2fc6a9664" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxAssetsInProcessResearchAndDevelopment_9887f028-32e6-4847-83a5-f69c0054f9dd" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_DeferredTaxAssetsInProcessResearchAndDevelopment"/>
    <link:calculationArc order="8" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsGross_68f19f90-7e00-4505-927a-b249695b12ef" xlink:to="loc_us-gaap_DeferredTaxAssetsInProcessResearchAndDevelopment_9887f028-32e6-4847-83a5-f69c0054f9dd" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxAssetsLiabilitiesNet_abddec85-c563-4b1c-b13a-504ed50ad13c" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_DeferredTaxAssetsLiabilitiesNet"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredIncomeTaxLiabilities_9fed8911-1c5a-43f7-b430-4ff89a78fa0f" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_DeferredIncomeTaxLiabilities"/>
    <link:calculationArc order="1" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsLiabilitiesNet_abddec85-c563-4b1c-b13a-504ed50ad13c" xlink:to="loc_us-gaap_DeferredIncomeTaxLiabilities_9fed8911-1c5a-43f7-b430-4ff89a78fa0f" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxAssetsNet_6aab35ef-04e5-44b1-ae1e-018602bbdc0c" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_DeferredTaxAssetsNet"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredTaxAssetsLiabilitiesNet_abddec85-c563-4b1c-b13a-504ed50ad13c" xlink:to="loc_us-gaap_DeferredTaxAssetsNet_6aab35ef-04e5-44b1-ae1e-018602bbdc0c" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredIncomeTaxLiabilities_7c668fc1-c0a1-40ca-b9a0-08686050d5a5" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_DeferredIncomeTaxLiabilities"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxLiabilitiesPrepaidExpenses_5e5c422d-6c23-4a40-80c1-75b59c86b114" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_DeferredTaxLiabilitiesPrepaidExpenses"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredIncomeTaxLiabilities_7c668fc1-c0a1-40ca-b9a0-08686050d5a5" xlink:to="loc_us-gaap_DeferredTaxLiabilitiesPrepaidExpenses_5e5c422d-6c23-4a40-80c1-75b59c86b114" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment_6323a4b4-b81f-44bc-a88f-09aa9bf01f7b" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredIncomeTaxLiabilities_7c668fc1-c0a1-40ca-b9a0-08686050d5a5" xlink:to="loc_us-gaap_DeferredTaxLiabilitiesPropertyPlantAndEquipment_6323a4b4-b81f-44bc-a88f-09aa9bf01f7b" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsGoodwill_a3f292b1-0c5c-462d-b205-c413fc209ee4" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsGoodwill"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredIncomeTaxLiabilities_7c668fc1-c0a1-40ca-b9a0-08686050d5a5" xlink:to="loc_us-gaap_DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsGoodwill_a3f292b1-0c5c-462d-b205-c413fc209ee4" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_pubm_DeferredTaxLiabilitiesRightOfUseAsset_c6d2999c-ffeb-4a00-b6d8-79919807a07a" xlink:href="pubm-20241231.xsd#pubm_DeferredTaxLiabilitiesRightOfUseAsset"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredIncomeTaxLiabilities_7c668fc1-c0a1-40ca-b9a0-08686050d5a5" xlink:to="loc_pubm_DeferredTaxLiabilitiesRightOfUseAsset_c6d2999c-ffeb-4a00-b6d8-79919807a07a" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets_fbe6f467-c37a-424b-a094-5695d8813df5" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_DeferredIncomeTaxLiabilities_7c668fc1-c0a1-40ca-b9a0-08686050d5a5" xlink:to="loc_us-gaap_DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets_fbe6f467-c37a-424b-a094-5695d8813df5" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://pubmatic.com/role/SegmentandGeographicalInformationScheduleofSegmentReportingInformationDetails" xlink:type="simple" xlink:href="pubm-20241231.xsd#SegmentandGeographicalInformationScheduleofSegmentReportingInformationDetails"/>
  <link:calculationLink xlink:role="http://pubmatic.com/role/SegmentandGeographicalInformationScheduleofSegmentReportingInformationDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingIncomeLoss_8764bf89-2360-4297-9425-99c92e9921cb" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_OperatingIncomeLoss"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DepreciationAndAmortization_a4b0a43e-b57e-4fc5-a3b4-ef63771205a9" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_DepreciationAndAmortization"/>
    <link:calculationArc order="1" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OperatingIncomeLoss_8764bf89-2360-4297-9425-99c92e9921cb" xlink:to="loc_us-gaap_DepreciationAndAmortization_a4b0a43e-b57e-4fc5-a3b4-ef63771205a9" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LaborAndRelatedExpense_99f5d45c-d2e7-4789-b597-d3b9a4991068" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_LaborAndRelatedExpense"/>
    <link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OperatingIncomeLoss_8764bf89-2360-4297-9425-99c92e9921cb" xlink:to="loc_us-gaap_LaborAndRelatedExpense_99f5d45c-d2e7-4789-b597-d3b9a4991068" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax_3e4d5ddf-1e9f-4d3d-bd38-3f7ccb562326" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OperatingIncomeLoss_8764bf89-2360-4297-9425-99c92e9921cb" xlink:to="loc_us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax_3e4d5ddf-1e9f-4d3d-bd38-3f7ccb562326" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SegmentReportingOtherItemAmount_e68e07c6-352d-4783-8ec5-9128deda03bb" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_SegmentReportingOtherItemAmount"/>
    <link:calculationArc order="4" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OperatingIncomeLoss_8764bf89-2360-4297-9425-99c92e9921cb" xlink:to="loc_us-gaap_SegmentReportingOtherItemAmount_e68e07c6-352d-4783-8ec5-9128deda03bb" xlink:type="arc"/>
  </link:calculationLink>
</link:linkbase>
