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Mar 31, 2025
DoubleVerify Q1 2025 Earnings Report
Reported First Quarter 2025 Financial Results
Key Takeaways
DoubleVerify reported a strong start to 2025 with first-quarter revenue of $165.1 million, a 17% increase year-over-year, and adjusted EBITDA of $44.7 million, representing a 27% margin. Growth was driven by broad adoption of verification and activation solutions, new enterprise customers, and momentum in supply-side business.
Total revenue increased by 17% year-over-year to $165.1 million.
Activation revenue grew by 20% and Supply-Side revenue increased by 35% year-over-year.
Achieved net income of $2.4 million and adjusted EBITDA of $44.7 million (27% margin).
Media Transactions Measured (MTM) for CTV increased by 43%.
Revenue by Segment
Forward Guidance
DoubleVerify anticipates Second Quarter 2025 revenue between $169 million and $173 million and Adjusted EBITDA between $48 million and $52 million. For the Full Year 2025, revenue growth is expected to be approximately 10% and Adjusted EBITDA margin approximately 32%.
Positive Outlook
- Second Quarter 2025 revenue guidance midpoint represents a 10% year-over-year increase.
- Second Quarter 2025 Adjusted EBITDA margin guidance midpoint is 29%.
- Full Year 2025 revenue growth expected to be approximately 10%.
- Full Year 2025 Adjusted EBITDA margin expected to be approximately 32%.
- Maintaining cost discipline and prioritizing investments that drive long-term value.
Challenges Ahead
- Does not provide guidance for GAAP net income.
- Does not reconcile non-GAAP measures to GAAP measures for guidance.
- Reconciliation of Adjusted EBITDA to GAAP net income for guidance would require unreasonable efforts.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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