NYSE$DV
DoubleVerify Holdings Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Increased revenue driven by global growth in social, CTV measurement, and programmatic activation, net income and adjusted EBITDA were achieved, and agreement to acquire Scibids was made.
DoubleVerify reported a solid Q2 2023 with a 22% increase in revenue year-over-year, reaching $133.7 million. The growth was fueled by global expansion in social, CTV measurement, and programmatic activation. The company achieved a net income of $12.8 million and an adjusted EBITDA of $40.0 million, representing a 30% adjusted EBITDA margin. They agreed to acquire Scibids, a global leader in AI-powered digital campaign optimization.
- Total revenue increased by 22% to $133.7 million.
- Activation revenue grew by 29% to $77.9 million.
- Measurement revenue increased by 16% to $45.0 million, with Social and CTV MTM rising by 41% and 32% respectively.
- Net income reached $12.8 million, and adjusted EBITDA was $40.0 million, representing a 30% adjusted EBITDA margin.
Headline financials
Revenue & EPS history
DoubleVerify · Revenue · Quarterly
$134M
Revenue by segment
DoubleVerify · $123M total across 2 segments · Q2 2023
- Activation$77.9M+28.8%63.4%
- Measurement$45M+15.7%36.6%
Forward guidance
DoubleVerify anticipates revenue between $135 to $141 million and Adjusted EBITDA in the range of $39 to $41 million for Q3 2023. For the full year 2023, they anticipate revenue of $557 to $569 million and Adjusted EBITDA in the range of $171 to $179 million.
Tailwinds
- Q3 2023 Revenue of $135 to $141 million, a year-over-year increase of 23% at the midpoint.
- Q3 2023 Adjusted EBITDA in the range of $39 to $41 million, representing a 29% margin at the midpoint.
- Full Year 2023 Revenue of $557 to $569 million, a year-over-year increase of 24% at the midpoint.
- Full Year 2023 Adjusted EBITDA in the range of $171 to $179 million, representing a 31% margin at the midpoint.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2023
-2.5%
Avg return
Earnings day
-0.8%
Avg return
5 days after
+2.0%
Avg return
30 days after
60%
15 / 25 earnings
Positive
+10.4%
Q4 2025
Best reaction
-39.5%
Q1 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -2.7% | -9.1% | -10.6% | |
| Q4 2025 | +10.4% | +8.5% | -2.3% | |
| Q3 2025 | -14.4% | -4.3% | +0.5% | |
| Q1 2025 | -5.4% | +5.7% | +4.7% | |
| Q4 2024 | -36.0% | -32.0% | -38.6% | |
| Q3 2024 | +7.3% | +9.6% | +12.5% | |
| Q2 2024 | +3.8% | +0.1% | -2.8% | |
| Q1 2024 | -39.5% | -39.1% | -39.4% | |
| Q4 2023 | -25.7% | -25.8% | -15.4% | |
| Q3 2023 | +4.0% | +6.8% | +13.5% | |
| Q2 2023 | -13.5% | -19.5% | -18.6% | |
| Q1 2023 | +9.9% | +4.9% | +33.6% | |
| Q4 2022 | +3.8% | +1.8% | +14.8% | |
| Q3 2022 | +4.3% | +11.6% | +5.5% | |
| Q2 2022 | +9.2% | +15.1% | +12.5% | |
| Q1 2022 | -2.9% | +15.4% | +18.8% | |
| Q4 2019 | +0.1% | -13.0% | +3.7% | |
| Q4 2021 | +0.1% | +7.4% | -2.0% | |
| Q3 2020 | +3.6% | +3.4% | -6.5% | |
| Q3 2021 | +3.6% | +3.4% | -6.5% | |
| Q2 2020 | -0.6% | -0.1% | -3.5% | |
| Q2 2021 | -0.6% | -0.1% | -3.5% | |
| Q1 2020 | +5.5% | +6.0% | +25.1% | |
| Q1 2021 | +6.3% | +11.8% | +27.1% | |
| Q4 2020 | +5.5% | +11.8% | +27.1% | |
| Q3 2019 | — | — | — |
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