DoubleVerify Reports Second Quarter 2025 Financial Results

About this update from Doubleverify Holdings, Inc.

Delivered 21% Year-over-Year Revenue Growth to $189.0 Million Drove Double-Digit Growth Across All Three Revenue Lines: Activation + 25% , Measurement + 15% , and Supply-Side + 26% Raised Full-Year 2025 Revenue Growth Guidance to ~ 15% ; Reaffirmed Full-Year 2025 Adjusted EBITDA margin of 32% NEW YORK, August 05, 2025 --( BUSINESS WIRE )--DoubleVerify ("DV") (NYSE: DV), the leading software platform for digital media measurement, data, and analytics, today announced financial results for the second quarter ended June 30, 2025. "We drove 21% year-over-year growth in Q2, significantly outperforming the revenue expectations we raised at Innovation Day and building momentum across all key areas of the business," said Mark Zagorski, CEO of DoubleVerify. "DV is executing well across every key growth vector, with Social gaining traction across both activation and measurement, CTV continuing to scale rapidly, and programmatic delivering deeper advertiser adoption across our ABS and Scibids AI solutions. Our growth in the first half of the year was predominantly driven by existing customers who adopted additional products and expanded into new geographies, followed by the addition and scaling of new advertiser and supply-side customers. Based on our solid performance to date, it is clear that our vision for the DV Media AdVantage Platform is resonating with current and new customers, and our continued focus on innovation, customer value, and disciplined execution is laying the groundwork for durable, long-term growth." Second Quarter 2025 Financial Highlights: (All comparisons are to the second quarter of 2024) Second Quarter and Recent Business Highlights: "Our second-quarter results reflect strong and balanced execution across the business, with both revenue and adjusted EBITDA exceeding the high-end of the guidance we raised at Innovation Day," said Nicola Allais, CFO of DoubleVerify. "We delivered robust double-digit growth across all three revenue lines, led by strong performance in activation and supply-side, and continued expansion in measurement, supported by greater momentum in Social. With 21% total revenue growth and adjusted EBITDA margins steady at 30%, we achieved meaningful topline outperformance while maintaining operational efficiency. Given our strong first-half results and increased confidence in second-half performance, we are raising our full-year 2025 revenue growth outlook to approximately 15% and reaffirming our 32% adjusted EBITDA margin guidance. We remain focused on driving scalable, profitable growth while investing in the opportunities ahead." Third Quarter and Full-Year 2025 Guidance: DoubleVerify anticipates Revenue and Adjusted EBITDA to be in the following ranges: Third Quarter 2025: Full Year 2025: With respect to the Company’s expectations under "Third Quarter and Full Year 2025 Guidance" above, the Company has not reconciled the non-GAAP measure Adjusted EBITDA to the GAAP measure net income in this press release because the Company does not provide guidance for depreciation and amortization expense, acquisition-related costs, interest income, and income taxes on a consistent basis as the Company is unable to quantify these amounts without unreasonable efforts, which would be required to include a reconciliation of Adjusted EBITDA to GAAP net income. In addition, the Company believes such a reconciliation would imply a degree of precision that could be confusing or misleading to investors. Conference Call, Webcast, and Other Information DoubleVerify will host a conference call and live webcast to discuss its second quarter 2025 financial results at 4:30 p.m. Eastern Time today, August 5, 2025. To access the conference call, dial (800) 715-9871 for the U.S. or Canada, or +1 (646) 307-1963 for international callers. The conference ID is 5064608. The webcast will be available live on the Investors section of the Company’s website at https://ir.doubleverify.com/ . An archived webcast will be available approximately two hours after the conclusion of the live event. In addition, DoubleVerify plans to post certain additional historical quarterly financial information on the investor relations portion of its website for easy access to investors. 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 that are directly purchased on digital media properties, including publishers, CTV, and social media platforms. Supply-Side revenue is generated from platforms and publisher partners who use DoubleVerify’s data analytics to evaluate, verify, and measure their advertising inventory. Gross Revenue Retention Rate is the total prior period revenue earned from advertiser customers, less the portion of prior period revenue attributable to lost advertiser customers, divided by the total prior period revenue from advertiser customers. Media Transactions Measured (MTM) is the volume of media transactions that DoubleVerify’s software platform measures. Measured Transaction Fee (MTF) is the fixed fee DoubleVerify charges per thousand Media Transactions Measured. International Revenue Growth Rates are inclusive of foreign currency fluctuations. Comparison of the Three and Six Months Ended June 30, 2025 and June 30, 2024 Revenue Adjusted EBITDA In addition to results determined in accordance with GAAP, management believes that certain non-GAAP financial measures, including Adjusted EBITDA and Adjusted EBITDA Margin, are useful in evaluating our business. Adjusted EBITDA Margin is calculated as Adjusted EBITDA divided by total revenue. The following table presents a reconciliation of Adjusted EBITDA, a non-GAAP financial measure, to the most directly comparable financial measure prepared in accordance with GAAP. We use Adjusted EBITDA and Adjusted EBITDA Margin as measures of operational efficiency to understand and evaluate our core business operations. We believe that these non-GAAP financial measures are useful to investors for period-to-period comparisons of the core business and for understanding and evaluating trends in operating results on a consistent basis by excluding items that we do not believe are indicative of our core operating performance. These non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation or as substitutes for an analysis of our results as reported under GAAP. Some of the limitations of these measures are: In addition, other companies in the industry may calculate these non-GAAP financial measures differently, therefore limiting their usefulness as a comparative measure. You should compensate for these limitations by relying primarily on our GAAP results and using the non-GAAP financial measures only supplementally. Total stock-based compensation expense recorded in the Condensed Consolidated Statements of Operations and Comprehensive Income is as follows: Forward-Looking Statements This press release includes "forward-looking statements". Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "plan," "seek," "will," "expect," "intend," "estimate," "anticipate," "believe" or "continue" or the negative thereof or variations thereon or similar terminology. Any statements in this press release regarding future revenues, earnings, margins, financial performance or results of operations (including the guidance provided under "Third Quarter and Full-Year 2025 Guidance", and any other statements that are not historical facts are forward-looking statements. Forward-looking statements are subject to known and unknown risks and uncertainties, many of which may be beyond our control. We caution you that the forward-looking information presented in this press release is not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking information contained in this press release. These risks, uncertainties, assumptions and other factors include, but are not limited to, the competitiveness of our solutions amid technological developments or evolving industry standards, the competitiveness of our market, system failures, security breaches, cyberattacks or natural disasters, economic downturns and unstable market conditions, our ability to collect payments, data privacy legislation and regulation, public criticism of digital advertising technology, our international operations, our use of "open source" software, our limited operating history and the potential for our revenues and results of operations to fluctuate in the future. Moreover, we operate in a very competitive and rapidly changing environment, and new risks may emerge from time to time. It is not possible for us to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results or outcomes to differ materially from those contained in any forward-looking statements we may make. Further information on these and additional risks, uncertainties, and other factors that could cause actual outcomes and results to differ materially from those included in or contemplated by the forward-looking statements contained in this press release are included under the caption "Risk Factors" in the Company’s Annual Report on Form 10-K filed with the SEC on February 27, 2025 and other filings and reports we make with the SEC from time to time. We have based our forward-looking statements on our management’s beliefs and assumptions based on information available to our management at the time the statements are made. Any forward-looking information presented herein is made only as of the date of this press release, and, except as required by law, we do not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise. About DoubleVerify DoubleVerify ("DV") (NYSE: DV) is the industry’s leading media effectiveness platform that leverages AI to drive superior outcomes for global brands. By creating more effective, transparent ad transactions, we make the digital advertising ecosystem stronger, safer and more secure, thereby preserving the fair value exchange between buyers and sellers of digital media. Learn more at www.doubleverify.com . View source version on businesswire.com: https://www.businesswire.com/news/home/20250805265804/en/ Contacts Investor Relations Tejal Engman DoubleVerify [email protected] Media Contact Chris Harihar Crenshaw Communications 646-535-9475 [email protected]

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