DoubleVerify Q2 2022 Earnings Report
Key Takeaways
DoubleVerify reported a strong second quarter with revenue increasing by 43% year-over-year to $109.8 million, driven by growth in pre-campaign activation across programmatic, social, and CTV. The company achieved a net income of $10.3 million and an adjusted EBITDA of $34.0 million.
Total revenue increased by 43% year-over-year to $109.8 million.
Activation revenue increased by 60% year-over-year to $60.5 million.
Measurement revenue increased by 23% year-over-year to $38.9 million.
Achieved net income of $10.3 million and adjusted EBITDA of $34.0 million.
DoubleVerify
DoubleVerify
DoubleVerify Revenue by Segment
Forward Guidance
DoubleVerify anticipates for full year 2022 revenue of $448 to $450 million, a year-over-year increase of 35% at the midpoint, and adjusted EBITDA in the range of $136 to $140 million, representing a 31% margin at the midpoint.
Positive Outlook
- Revenue of $108 to $110 million for Q3 2022.
- Adjusted EBITDA in the range of $32 to $34 million for Q3 2022.
- Revenue of $448 to $450 million for full year 2022.
- Adjusted EBITDA in the range of $136 to $140 million for full year 2022.
- Expect 35% revenue growth and 31% adjusted EBITDA margins.
Challenges Ahead
- The company has not reconciled the non-GAAP measure Adjusted EBITDA to the GAAP measure net income.
- The company does not provide guidance for stock-based compensation expense.
- The company does not provide guidance for depreciation and amortization expense.
- The company does not provide guidance for acquisition-related costs.
- The company does not provide guidance for interest income, and income taxes.