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Mar 31, 2024
DoubleVerify Q1 2024 Earnings Report
Revenue increased driven by global growth in social and CTV measurement and net income and adjusted EBITDA were achieved.
Key Takeaways
DoubleVerify reported a 15% year-over-year increase in revenue to $140.8 million for Q1 2024, driven by growth in social and CTV measurement. The company achieved a net income of $7.2 million and an adjusted EBITDA of $38.1 million, representing a 27% adjusted EBITDA margin.
Total revenue increased by 15% year-over-year.
Activation revenue increased by 13% year-over-year.
Measurement revenue increased by 19% year-over-year, with social measurement revenue up by 51%.
Net income was $7.2 million and adjusted EBITDA was $38.1 million, representing a 27% adjusted EBITDA margin.
DoubleVerify
DoubleVerify
DoubleVerify Revenue by Segment
Revenue by Segment
Activation Revenue
CapyFin.comMeasurement Revenue
CapyFin.comSupply-Side Revenue
CapyFin.com Forward Guidance
DoubleVerify anticipates for the second quarter of 2024 revenue of $152 to $156 million, a year-over-year increase of 15% at the midpoint, and adjusted EBITDA of $41 to $45 million, representing a 28% margin at the midpoint. For the full year 2024, revenue is expected to be $663 to $675 million, a year-over-year increase of 17% at the midpoint, and adjusted EBITDA of $199 to $211 million, representing a 31% margin at the midpoint.
Positive Outlook
- Revenue of $152 to $156 million is expected for Q2 2024.
- Adjusted EBITDA of $41 to $45 million is expected for Q2 2024.
- Revenue of $663 to $675 million is expected for full year 2024.
- Adjusted EBITDA of $199 to $211 million is expected for full year 2024.
- Full-year 2024 guidance ranges to 17% revenue growth, and 31% adjusted EBITDA margins at the midpoints.
Challenges Ahead
- Uneven spending patterns among select large advertisers.
- Potential risks related to technological developments or evolving industry standards.
- Competitiveness of the market.
- System failures, security breaches, cyberattacks or natural disasters.
- Economic downturns and unstable market conditions.
Revenue & Expenses
Visualization of income flow from segment revenue to net income