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Jun 30, 2025
DoubleVerify Q2 2025 Earnings Report
DoubleVerify reported strong second quarter 2025 financial results, with significant year-over-year revenue growth and solid performance across all revenue segments, exceeding expectations.
Key Takeaways
DoubleVerify delivered a robust second quarter in 2025, with total revenue increasing by 21% year-over-year to $189.0 million, outperforming revenue expectations. The company achieved double-digit growth across all three revenue lines: Activation (+25%), Measurement (+15%), and Supply-Side (+26%). Net income was $8.8 million, and Adjusted EBITDA reached $57.3 million, representing a 30% margin. The strong performance led to raised full-year 2025 revenue growth guidance.
Total revenue grew 21% year-over-year to $189.0 million, exceeding raised expectations.
All three revenue segments experienced double-digit growth: Activation +25%, Measurement +15%, and Supply-Side +26%.
Adjusted EBITDA was $57.3 million, maintaining a strong 30% adjusted EBITDA margin.
The company raised its full-year 2025 revenue growth guidance to approximately 15% while reaffirming its 32% Adjusted EBITDA margin guidance.
Revenue by Segment
Forward Guidance
DoubleVerify provided guidance for the third quarter and full year 2025, anticipating continued revenue growth and stable Adjusted EBITDA margins.
Positive Outlook
- Third Quarter 2025 Revenue expected between $188 million and $192 million, representing a 12% year-over-year increase at the midpoint.
- Third Quarter 2025 Adjusted EBITDA expected between $60 million and $64 million, representing a 33% margin at the midpoint.
- Full Year 2025 Revenue growth outlook raised to approximately 15%.
- Full Year 2025 Adjusted EBITDA margin reaffirmed at approximately 32%.
- Increased confidence in second-half performance based on strong first-half results.
Challenges Ahead
- No specific negative forward guidance points were explicitly stated in the report.
- The company does not reconcile non-GAAP Adjusted EBITDA to GAAP net income in guidance due to quantification difficulties.
- Forward-looking statements are subject to known and unknown risks and uncertainties.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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