NYSE$DV
DoubleVerify Holdings Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Increased revenue and achieved adjusted EBITDA, demonstrating strong financial performance.
DoubleVerify reported a 29% increase in fourth-quarter revenue, reaching $172.2 million. The company's net income was $33.1 million, and adjusted EBITDA was $65.4 million, representing a 38% adjusted EBITDA margin. Growth was driven by strong execution and expansion in social, CTV measurement, and programmatic activation.
- Total revenue increased by 29% year-over-year to $172.2 million.
- Social measurement revenue grew by 62% year-over-year.
- Net income reached $33.1 million, and adjusted EBITDA was $65.4 million with a 38% margin.
- The company launched brand safety and suitability measurement on Facebook and Instagram Feeds and Reels.
Headline financials
Revenue & EPS history
DoubleVerify · Revenue · Quarterly
$172M
Revenue by segment
DoubleVerify · $133M total across 2 segments · Q3 2023
- Activation$81.7M+31.4%61.4%
- Measurement$51.3M+32.0%38.6%
Forward guidance
DoubleVerify anticipates first quarter 2024 revenue of $136 to $140 million, a year-over-year increase of 13% at the midpoint, and adjusted EBITDA in the range of $33 to $37 million, representing a 25% margin at the midpoint. For the full year 2024, the company anticipates revenue of $688 to $704 million, a year-over-year increase of 22% at the midpoint, and adjusted EBITDA in the range of $205 to $221 million, representing a 31% margin at the midpoint.
Tailwinds
- Revenue of $136 to $140 million, a year-over-year increase of 13% at the midpoint.
- Adjusted EBITDA in the range of $33 to $37 million, representing a 25% margin at the midpoint.
- Revenue of $688 to $704 million, a year-over-year increase of 22% at the midpoint.
- Adjusted EBITDA in the range of $205 to $221 million, representing a 31% margin at the midpoint.
- Excited about solid pipeline of new and expansionary business opportunities as we continue to meaningfully outpace the digital advertising industry and gain market share.
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 Q4 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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