Doubleverify Holdings, Inc. · NYSE:DV
Doubleverify — Q2 2025 Earnings Presentation
18 slides from Doubleverify's earnings presentation, Aug 5, 2025
Slide 1: Q2 2025 Earnings Call
Q2 2025 Earnings Call August 5, 2025 0
Slide 2: Disclaimer
Disclaimer This presentation contains “forward-looking statements” that are based on management’s beliefs and assumptions and on information currently available to management. These forward- looking statements include, but are not limited to, statements about our plans, objectives, expectations and
Slide 3: 1H 2025: Strong Growth, Broad Momentum
1H 2025: Strong Growth, Broad Momentum Revenue growth in the first half of 2025 was driven primarily by existing advertisers adopting new solutions and expanding usage Q1, Q2 and 1H 2025 Total Revenue Growth Q2 2025 Revenue Growth Drivers (US $, Millions) (US $, Millions) +19% Q2 '24 Q2 '25 +21% $35
Slide 4: Fueling Growth with Existing Customers & New Wins
Fueling Growth with Existing Customers & New Wins Win Advertisers Grow Advertisers Media AdVantage Platform (MAP) Attach, Stack and Scale Revenue Strategy Verify MEDIA QUALITY Scale Generate AI-driven efficiencies Optimize Stack Activation Product AD PERFORMANCE Upsells Attach Verification Measureme
Slide 5: Winning Market Share and Diversifying Revenue
Winning Market Share and Diversifying Revenue Q2’25 Expansions and New Wins Diversifying Large Advertiser Revenue Base 10 in Top 100 3 in Top 15 +12% Large Advertisers1 10 recent wins now rank among key 3 recent wins are now Top Robust growth in the number of revenue contributors in Q2’25 15 contrib
Slide 6: Unlocking Growth in the $200B+ Social Ad Market
Unlocking Growth in the $200B+ Social Ad Market Both Social Activation and Measurement fueled revenue growth in Q2’25 Activation REVENUE FROM META ACTIVATION AHEAD OF PLAN GROWING PRE-BID SUITABILITY COVERAGE 13 Top 100 customers active on Meta pre-bid suitability Launched In Q1’25 Campaigns testing
Slide 7: Capitalizing on the Shift to CTV
Capitalizing on the Shift to CTV CTV is DV’s most rapidly scaling media environment Q2 2025 CTV Measurement 1H 2025 Measurement DV’s CTV Solutions Applied Impressions Impressions Breakdown Across Measurement & Activation CTV CTV MEASUREMENT ~11% +45 % % Of DV’s non-social 22 measurement impressions
Slide 8: Programmatic: Foundational, Dynamic, Built to Scale
Programmatic: Foundational, Dynamic, Built to Scale Solid Programmatic Growth in Video and Display Q2 2025 Non-ABS Q2 2025 Authentic Brand Revenue Suitability (ABS) Revenue +26 % +23 % YEAR-OVER-YEAR YEAR-OVER-YEAR GROWTH GROWTH Strong growth in core programmatic Of Top 500 customers using solutions
Slide 9: Expanding Coverage Across Retail Media Networks
Expanding Coverage Across Retail Media Networks Retail Media Platforms continue to drive Supply Side Growth in Q2’2025 Global retail media networks and sites that Q2 2025 Retail Media Supply-Side and Total accept DV’s Measurement Tags Supply-Side Revenue Growth RETAIL MEDIA SUPPLY-SIDE +39% 144 129
Slide 10: MAP Everywhere: Building a Platform for Growth
MAP Everywhere: Building a Platform for Growth Verify Verify media quality Greater customer value Optimize Optimize ad performance Compounding growth Prove Prove campaign outcomes TM 9
Slide 11: Q2 2025 Revenue Growth Drivers
Q2 2025 Revenue Growth Drivers Q2 ’25 TOTAL REVENUE GROWTH OF 21% GROWTH ACROSS ALL THREE REVENUE LINES Key Drivers Activation Measurement Supply-Side Core Programmatic, Scibids AI +25% +15% +26% year-over- year-over- year-over- & Social Activation year growth year growth year growth $109 M $63 M Au
Slide 12: Q2 2025 Revenue Growth Drivers (cont'd)
Q2 2025 Revenue Growth Drivers (cont’d) Business Line Contribution to Total Revenue Advertiser Revenue Growth Drivers Q2 ’25 ADVERTISER REVENUE GROWTH OF 21% Activation 58% Measurement 33% 91 % VOLUME (MTM) PRICE (MTF) Supply-side 9% OF Q2 ’25 REVENUE DRIVEN BY ADVERTISERS +19% -1% Activation Driver
Slide 13: Q2 2025 Financial Highlights
Q2 2025 Financial Highlights $189 21% $50 MILLION GROWTH MILLION Total Total YoY Revenue Net Cash from Revenue Growth Operating Activities $57 30% $0 MILLION MARGIN DEBT Adjusted Adjusted EBITDA No long-term EBITDA Margin debt 12
Slide 14: Q3 & FY 2025 Guidance
Q3 & FY 2025 Guidance Q3 2025 Revenue Adjusted EBITDA $188 M - $192 M +12% $60 M - $64 M 33% YEAR-OVER-YEAR MARGIN Low-end High-end GROWTH AT THE Low-end High-end AT THE MIDPOINT MIDPOINT FY 2025 Revenue +15% Adjusted EBITDA 32% Expectations Expectations MARGIN YEAR-OVER-YEAR GROWTH (APPROXIMATELY)
Slide 15: Proven History of Growth & Profitability
Proven History of Growth & Profitability Revenue Adjusted Ebitda1 $ in millions $ in millions YoY Growth +15% Adj. EBITDA margin1 +15% 32% +27% 33% +36% $755 31% $243 +36% $657 33% $219 +34% $573 30% $187 +75% $452 38% $142 $333 25% $110 $244 $183 $69 $73 $104 $27 2018A 2019A 2020A 2021A 2022A 2023A
Slide 16: Key Business Terms
Key Business Terms • Activation revenue is generated from the evaluation, verification and measurement of advertising impressions purchased through programmatic demand-side and social media platforms. • Measurement revenue is generated from the verification and measurement of advertising impressions
Slide 17: Non-GAAP Financial Measures Reconciliation
Non-GAAP Financial Measures Reconciliation Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 (In Thousands) (In Thousands) Net income $ 8,758 $ 7,474 $ 11,119 $ 14,630 Net income margin 5% 5% 3% 5% Depreciation and amortization 14,697 11,004 27,084 21,932 Stock-based compensa
Slide 18: Non-GAAP Financial Measures Reconciliation
Non-GAAP Financial Measures Reconciliation a) M &A and restructuring costs for the three and six months ended June 30, 2025 consist of third party professional service costs related to the acquisition of Rockerbox and to our broader acquisition strategy. M&A and restructuring recoveries for the thre
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