NYSE$DV

DoubleVerify Holdings Inc · Q2 2025 earnings

Q2 2025 earnings · · After market close · Investor relations

Briefing

DoubleVerify Holdings Inc reported Q2 2025 revenue of $189.0 million, up 21% year-over-year, with net income of $8.8 million.

DoubleVerify delivered 21% revenue growth in Q2 2025 driven by strong advertiser demand across Activation and Measurement solutions. Operating income rose 23% to $13.5 million while the company continued investments in product development and completed the Rockerbox acquisition. Net income increased 17% to $8.8 million with diluted EPS of $0.05.

  • Total revenue reached $189.0 million, a 21% increase from Q2 2024, led by 25% growth in Activation revenue.
  • Media Transactions Measured grew 19% year-over-year while Measured Transaction Fees declined 1% excluding one introductory deal.
  • Operating income increased 23% to $13.5 million and Adjusted EBITDA rose 22% to $57.3 million at a 30% margin.
  • The company completed the Rockerbox acquisition and repurchased shares under its authorized programs while maintaining a strong balance sheet with $211.8 million in cash.

Headline financials

Total Revenue

$189M

Previous: $156M+21.3%
EPS (adj)

$0.05

Previous: $0.04+25.0%
Capital Expenditures

-$15.8M

Previous: -$13.6M-16.6%
Free Cash Flow

-$7.06M

Previous: -$6.08M-16.0%
Net Income

$8.76M

Previous: $7.47M+17.2%
Operating Income

$13.5M

Previous: $11M+22.6%
Gross Profit

$156M

Previous: $130M+20.1%
Cash & Equivalents

$212M

Previous: $256M-17.3%
Total Assets

$1.3B

Previous: $1.27B+1.9%

Revenue & EPS history

DoubleVerify · Revenue · Quarterly

$189M

Q2 2025+21.3%vs Q2 2024
Beat estimate in 9 of 16 quarters(56%)
ActualEstimate

Revenue by segment

DoubleVerify · $189M total across 3 segments · Q2 2025

  • Activation
    $109M
  • Measurement
    $62.9M
  • Supply-side
    $17.2M

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports

Historical avg

-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

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q2 2025
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 2021+3.6%+3.4%-6.5%
Q3 2020+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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