DoubleVerify Holdings, Inc.
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Range $12 – $14
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About the company
DoubleVerify Holdings, Inc. offers a comprehensive software platform designed for measuring, analyzing, and providing data insights for digital media, serving clients both domestically and across global markets. Through its various offerings, the company equips advertisers with impartial data analytics, empowering them to significantly enhance the impact, integrity, and financial returns of their online advertising campaigns.
- CEO
- Mark S. Zagorski
- IPO
- 2021
- Employees
- 1,231
- HQ
- New York City, NY, US
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Similar companies
Peers in the same neighborhood.
- Market Cap
- $2.04B
- P/E
- 35.93
- Fwd P/E
- 29.67
- PEG
- 1.86
- P/S
- 2.65
- P/B
- 1.87
- EV/EBITDA
- 12.34
- Div Yield
- 0.00%
- Gross Margin
- 80.44%
- Op Margin
- 12.69%
- Net Margin
- 7.66%
- ROE
- 5.37%
- ROIC
- 4.98%
Latest fiscal year · YoY change
- Revenue
- $748.29M+13.9%
- Gross Profit
- $614.79M+13.8%
- Op Income
- $79.20M
- Net Income
- $50.65M-9.9%
- EPS
- $0.31-6.1%
- OCF Growth
- +32.3%
- FCF Growth
- +30.3%
- 52W High
- $16.44
- 52W Low
- $7.64
- 50D MA
- $11.45
- 200D MA
- $10.67
- Beta
- 0.97
- RSI (14)
- 69
- Avg Volume
- 3.82M
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
DoubleVerify posted 10% revenue growth and a 31% EBITDA margin in Q1, with management pointing to strong social, streaming TV, and AI-driven product momentum.· May 6, 2026
- Q1 revenue was $181 million, up 10% year over year, and adjusted EBITDA was $55 million with a 31% margin, above expectations.
- Social activation accelerated to 92% growth, driven by Meta, YouTube, and TikTok; Meta activation reached a $12 million annualized run rate.
- CTV measurement impression volumes rose 28%, while new streaming TV products and partner wins helped expand attach rates.
- Management said AI is improving internal productivity and margins, including 40% faster software development and 4x faster classification.
- The company reiterated full-year 2026 guidance and continued share repurchases, with $100 million bought back year to date.
Q1 2026 revenue was $181 million, up 10% year over year. Total advertiser revenue was 90% of revenue and grew 9%; measurement revenue grew 16%, social measurement grew 23%, and supply-side revenue grew 12%. Gross margin/revenue less cost of sales was 82%, and adjusted EBITDA was $55 million, a 31% margin versus 27% in Q1 2025. Net cash from operating activities was $4 million, and the company ended Q1 with about $174 million in cash and no long-term debt. For Q2 2026, management expects revenue of $199 million to $205 million and adjusted EBITDA of $63 million to $67 million, implying a 32% margin at the midpoint. For full-year 2026, it reiterated revenue guidance of $810 million to $826 million and adjusted EBITDA margin of approximately 34%.
Mark Zagorski framed the quarter as validation of DoubleVerify’s strategy around social, streaming TV, and AI-based products. He emphasized that DV is becoming more essential inside walled gardens, citing strong adoption of Meta activation, YouTube Authentic Advantage, TikTok, and new AI products like Slop Stopper. His tone was confident and expansionary, with repeated comments that the company is extending its trust layer into new environments like agentic ad buying and LLM chatbots.
Nicola Allais highlighted the quarter’s efficiency, with 82% revenue less cost of sales, $55 million of adjusted EBITDA, and a 31% margin, up from 27% a year ago. She said operating expenses rose only 2% versus 10% revenue growth, and noted stock-based compensation of $24 million in Q1, with full-year guidance of $102 million to $107 million. She also said the company repurchased 9.8 million shares for $100 million year to date, expects about 60% free cash flow conversion for 2026, and finished the quarter with approximately $174 million in cash and no long-term debt.
Analysts focused on whether social activation growth can sustain its 90%+ pace, how much of that growth is new customers versus existing customers scaling, and whether Meta and YouTube products are still early in their ramp. Management said growth is coming from both upsells and new advertiser adoption, and that these products are sticky once clients adopt them. Questions also centered on Slop Stopper, LLM ad verification, and CTV measurement; management said advertiser demand for third-party measurement is pushing LLM partnerships, while CTV momentum is being driven by new transparency tools and higher attach rates.
The bull case from this call is that DoubleVerify is showing strong product-led expansion in the fastest-growing digital ad channels, especially social, streaming TV, and AI-related verification. Management also pointed to clear operating leverage from AI, which is lifting margins while speeding product development and internal productivity.
The main risks discussed were dependence on evolving ad platforms and the uncertainty around when LLM advertising will become a meaningful revenue contributor. Management also noted that some growth areas are still early, CTV and AI opportunities are not yet fully material, and the company is still lapping a strong prior-year quarter in Q2. Macro commentary was cautious, with management assuming a stable environment rather than meaningful tailwinds.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 79.4%
- Shares Outstanding
- 153.46M
- Float Shares
- 121.91M
of shares held by institutions
333 13F filers
Buy/sell ratio 0.79. Sells can include pre-scheduled 10b5-1 plan sales, not just discretionary selling.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Blackrock, Inc. | 23.15M | ▲ 3.80M |
| Providence Equity Partners L.L.C. | 18.34M | ▲ 50.67K |
| Vanguard Group Inc | 14.78M | ▲ 360.06K |
| Disciplined Growth Investors Inc /Mn | 9.69M | ▲ 5.78M |
| Aqr Capital Management LLC | 7.78M | ▼ 3.89M |
| Vanguard Capital Management LLC | 5.91M | ▼ 470.15K |
| Dimensional Fund Advisors LP | 5.40M | ▲ 1.06M |
| State Street Corp | 5.38M | ▲ 1.01M |
| Burgundy Asset Management Ltd. | 3.61M | ▼ 16.60K |
| Geode Capital Management, LLC | 3.44M | ▲ 953.04K |
| Topline Capital Management, LLC | 3.21M | ▼ 1.81M |
| Price T Rowe Associates Inc | 3.14M | ▲ 1.11M |
Held by 355 ETFs
Biggest fund positions in DV by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| Jun 30, 26 | Zagorski Mark | other | 13,476 |
| Jun 30, 26 | Zagorski Mark | other | 7,453 |
| Jun 30, 26 | Zagorski Mark | other | 13,476 |
| Jun 15, 26 | Mougis Steven John | other | 27,056 |
| Jun 15, 26 | Mougis Steven John | other | 1,143 |
| Jun 15, 26 | Mougis Steven John | other | 2,125 |
| Jun 15, 26 | Mougis Steven John | other | 413 |
| Jun 15, 26 | Mougis Steven John | other | 767 |
| Jun 15, 26 | Mougis Steven John | other | 9,376 |
| Jun 15, 26 | Mougis Steven John | other | 250 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our DV coverage
Recent articles, reports, and earnings notes.
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DV Alert: Monsey Firm of Wohl & Fruchter Investigating Fairness of the Proposed Sale of DoubleVerify to Nielsen
globenewswire.com · Aug 13
DoubleVerify Expands Measurement Coverage on TikTok Pangle In the United States and International Markets
globenewswire.com · Aug 13
California State Teachers Retirement System Raises Stake in DoubleVerify Holdings, Inc. $DV
defenseworld.net · Aug 13
Nielsen's $2 billion DoubleVerify acquisition is a big play for CMOs
businessinsider.com · Aug 12
DoubleVerify Investor Alert: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of DoubleVerify Holdings, Inc. - DV
businesswire.com · Aug 10
DoubleVerify Q2 Earnings Miss as Activation Declines, Revenues Lag
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