DoubleVerify Q3 2022 Earnings Report
Key Takeaways
DoubleVerify reported strong third-quarter results with revenue increasing by 35% year-over-year to $112.3 million. The growth was fueled by continued momentum in programmatic activation and Social and CTV measurement. They also raised the midpoint of full-year 2022 guidance range to 36% total revenue growth and 31% adjusted EBITDA margins.
Total revenue increased 35% year-over-year to $112.3 million.
Activation revenue increased 48% to $62.2 million.
Measurement revenue increased 14% to $38.8 million.
Achieved net income of $10.3 million and adjusted EBITDA of $34.0 million, representing a 30% adjusted EBITDA margin.
DoubleVerify
DoubleVerify
DoubleVerify Revenue by Segment
Forward Guidance
DoubleVerify anticipates for the fourth quarter 2022 revenue of $131 to $135 million, a year-over-year increase of 26% at the midpoint. Adjusted EBITDA in the range of $45 to $47 million, representing a 35% margin at the midpoint. For the full year 2022, revenue of $450 to $454 million, a year-over-year increase of 36% at the midpoint. Adjusted EBITDA in the range of $138 to $140 million, representing a 31% margin at the midpoint.
Positive Outlook
- Revenue of $131 to $135 million, a year-over-year increase of 26% at the midpoint.
- Adjusted EBITDA in the range of $45 to $47 million, representing a 35% margin at the midpoint.
- Revenue of $450 to $454 million, a year-over-year increase of 36% at the midpoint.
- Adjusted EBITDA in the range of $138 to $140 million, representing a 31% margin at the midpoint.