Doubleverify Holdings, Inc. · NYSE:DV
Doubleverify — Q1 2026 Earnings Presentation
22 slides from Doubleverify's earnings presentation, May 6, 2026
Slide 1: Q1 2026 Earnings Call
Q1 2026 Earnings Call May 6, 2026 1
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: Q1 2026 Performance Highlights
Q1 2026 Performance Highlights Total Revenue Profitability Social Activation CTV Measurement Growth Growth Growth +10 % 31 % +92 % +28 % YoY Growth YoY Growth YoY Growth Adj. EBITDA Margin CTV Measurement Total Revenue Social Activation Impressions 3
Slide 4: Product Innovation Driving Strong Growth
Product Innovation Driving Strong Growth PRODUCT INNOVATION CYCLE ACROSS THE FASTEST-GROWING AREAS OF DIGITAL ADVERTISING 1. SOCIAL 2. CTV 3. AI PLATFORMS Large Opportunity with both Products and Customers Expand Product Adoption Expand Customer Base DV earns less than DV customers are less than 0.5
Slide 5: Product Growth Drivers: Social, Streaming TV, AI Platforms
Product Growth Drivers: Social, Streaming TV, AI Platforms Social, Streaming TV and AI Platforms’ Share of DV’s Total Revenue Share of Total Revenue from Social, CTV & AI <30% ~50% Total Revenue 2025E 2029E Activation Revenue Drivers Measurement Revenue Drivers DV Authentic Advantage Social Social P
Slide 6: DV's AI Opportunities
DV’s AI Opportunities DV is Helping Define the Rapidly Evolving AI Advertising Environment AI Growth Opportunities Agentic Buying AI Detection Verification on LLMs Joined the Ad Context Launched DV AI Ad Spend on LLM to reach Protocol (AdCP) SlopStopper for Social $25B by 2029 SlopStopper for Mobile
Slide 7: AI Opportunity: Unlocking Growth in the ~$400B+ Search Ad Market
AI Opportunity: Unlocking Growth in the ~$400B+ Search Ad Market AI Search Ad Spending will Reach over $25 Billion by 2029 Advertising on AI Platforms DV’s Core Value is Unchanged Has Opportunity to Unlock Search Ad Spend for DV DV Remains an Integral Part of the Ad Equation $823B Global Digital Tot
Slide 8: Accelerating Social Activation
Accelerating Social Activation Accelerating Social Activation Social in Activation grew ~92% year-over-year in Q1 26 Adoption is accelerating across major platforms Social Activation Solutions YouTube Meta TikTok Authentic Advantage Activation Suitability Capacity 100x Expansion of Video Launched in
Slide 9: Expanding CTV
Expanding CTV Expanding CTV Solving fragmentation and waste by bringing transparency and automation to Streaming TV CTV Solutions CTV Measurement CTV Activation CTV Show Level Data Verified Streaming TV Verified Streaming TV Enables Spectrum Reach is the first partner Identifies wasted impressions t
Slide 10: DV's Innovation Fuels Strong Business Results
DV’s Innovation Fuels Strong Business Results A powerful product- led growth engine Scale Monetization Profitability ~340 clients 77% Expanding with >$200k greenfield wins EBITDA margins per year in Q1 enabled by AI 10
Slide 11: Q1 2026 Financial Highlights
Q1 2026 Financial Highlights $181 10% $100 MILLION GROWTH MILLION Total Total Revenue Stock Revenue Growth Repurchases1 $55 31% $0 MILLION MARGIN DEBT Adjusted Adjusted EBITDA No long-term EBITDA Margin debt 1. $25m repurchased in April 2026. 11
Slide 12: Q1 2026 Revenue Growth Drivers
Q1 2026 Revenue Growth Drivers 10% TOTAL REVENUE GROWTH GROWTH ACROSS ALL THREE REVENUE LINES $ Millions Key Drivers Activation Measurement Supply-Side +6% +16% +12% year-over-year year-over-year year-over-year Social Activation growth growth growth Social and CTV Measurement $101 $95 Retail Media P
Slide 13: Q1 2026 Revenue Growth Drivers (cont'd)
Q1 2026 Revenue Growth Drivers (cont’d) Business Line Contribution to Total Revenue Advertiser Revenue Drivers 9% ADVERTISER REVENUE GROWTH Activation 56% 90% VOLUME (MTM) PRICE (MTF) +12% -4% Measurement 34% OF REVENUE DRIVEN BY ADVERTISERS Supply-Side 10% Activation Drivers: ABS & Non-ABS Measurem
Slide 14: Q1 2026 Cost Efficiency Drivers
Q1 2026 Cost Efficiency Drivers Revenue less Cost of Sales Adjusted EBITDA Margin1 >80% 31% +4ppt 81% 82% 27% AI TOOLS DRIVE YEAR OVER YEAR CONTINUED INCREASE IN Q1 26 EFFICIENCIES Q1 25 Q1 26 Q1 25 Q1 26 DV Agentic Classification System Declining Stock Based Compensation Costs ($MMs) 2x classificat
Slide 15: Strong Cash Generation and Strategic Capital Allocation
Strong Cash Generation and Strategic Capital Allocation SHARE REPURCHASES INVESTING IN CORE ACQUISITIONS Capital Return Key Priorities M&A Strategy Purchased 9.8M shares AI Platforms Accelerate product roadmap for $100M to date in FY 26 Purchases to date in FY 26 Expand product/technology represent
Slide 16: Q2 & FY 2026 Guidance
Q2 & FY 2026 Guidance Q2 2026 Revenue Adjusted EBITDA $199 M - $205 M 7% $63 M - $67 M 32% YEAR-OVER-YEAR MARGIN AT Low-end High-end GROWTH AT THE Low-end High-end THE MIDPOINT MIDPOINT FY 2026 Revenue Adjusted EBITDA $810 M - $826 M 8% - 10% $267 M - $283 M 34% YEAR-OVER-YEAR MARGIN AT Low-end High
Slide 17: Proven History of Growth & Profitability
Proven History of Growth & Profitability Revenue Adjusted EBITDA1 $ in millions $ in millions YoY Growth Adj. EBITDA margin1 +9% +14% 34% +15% 33% +27% $818 33% $748 33% +36% $275 $657 31% $246 +36% $573 $219 33% +34% 30% $187 +75% $452 38% $142 $333 25% $110 $244 $69 $73 $183 $104 $27 2018A 2019A 2
Slide 18: Non-GAAP Financial Measures Reconciliation
Non-GAAP Financial Measures Reconciliation ($mm) FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 Q1 2026 Net income $29.3 $43.3 $71.5 $56.2 $50.7 $6.4 Depreciation and amortization 30.3 34.3 40.9 45.2 56.6 15.3 Stock-based compensation 21.9 42.3 59.2 90.7 104.2 24.2 Interest expense 1.2 0.9 1.1 1.1 1.7 0.4
Slide 19: Non-GAAP Financial Measures Reconciliation
Non-GAAP Financial Measures Reconciliation Three Months Ended Twelve Months Ended ($mm) 3/31/26 3/31/25 12/31/25 12/31/24 Net Income $6.4 $2.4 $50.7 $56.2 Stock-based compensation 24.2 24.3 104.2 90.7 Amortization of acquired intangibles 6.6 7.2 29.8 28.7 M&A and restructuring costs (a) — 1.2 1.7 0.
Slide 20: Non-GAAP Financial Measures Reconciliation
Non-GAAP Financial Measures Reconciliation ($mm) FY 2023 FY 2024 FY 2025 Q1 2026 Net cash provided by operating activities $119.7 $159.7 $211.2 $4.2 Purchase of property, plant and equipment (17.0) (27.1) (38.5) (10.5) Free cash flow $102.7 $132.5 $172.7 ($6.4) Free cash flow conversion 55% 61% 70%
Slide 21: Non-GAAP Financial Measures Reconciliation
Non-GAAP Financial Measures Reconciliation a) M&A and restructuring costs for the year ended December 31, 2025 consist of third party professional service costs related to the acquisition of Rockerbox and to our broader acquisition strategy. M&A and restructuring costs for the year ended December 31
Slide 22: 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
DoubleVerify Holdings — Q1 2026 Earnings Presentation on 6ix