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Sep 30, 2024
DoubleVerify Q3 2024 Earnings Report
Revenue increased driven by double-digit growth across all revenue lines as advertisers and platforms expanded adoption. Net income and adjusted EBITDA were achieved, representing a 35% adjusted EBITDA margin.
Key Takeaways
DoubleVerify reported a strong third quarter in 2024, with an 18% year-over-year increase in revenue to $169.6 million. The company achieved a net income of $18.2 million and an adjusted EBITDA of $60.2 million, representing a 35% adjusted EBITDA margin. The company also announced a new authorization of $200.0 million for additional common stock repurchases.
Total revenue increased by 18% year-over-year to $169.6 million.
Activation revenue increased by 18% year-over-year to $96.8 million.
Measurement revenue increased by 14% year-over-year to $58.5 million, with social measurement revenue up by 21%.
Supply-side revenue increased by 30% year-over-year to $14.3 million.
DoubleVerify
DoubleVerify
DoubleVerify Revenue by Segment
Revenue by Segment
Activation Revenue
CapyFin.comMeasurement Revenue
CapyFin.comSupply-Side Revenue
CapyFin.com Forward Guidance
DoubleVerify anticipates Revenue and Adjusted EBITDA to be in the following ranges:
Positive Outlook
- Fourth Quarter 2024 Revenue of $194 to $200 million, a year-over-year increase of 14% at the midpoint.
- Fourth Quarter 2024 Adjusted EBITDA of $73 to $79 million, representing a 39% margin at the midpoint.
- Full Year 2024 Revenue of $660 to $666 million, a year-over-year increase of 16% at the midpoint.
- Full Year 2024 Adjusted EBITDA of $218 to $224 million, representing a 33% margin at the midpoint.
- Confidence in DV’s long-term growth prospects demonstrated by a new $200 million authorization for further stock repurchases, bringing the total available for share repurchases to $275 million.
Challenges Ahead
- Moderated brand spending during the U.S. election season.
- More gradual ramp in social measurement adoption.
- Potential risks and uncertainties related to DoubleVerify's solutions amid technological developments or evolving industry standards.
- Economic downturns and unstable market conditions.
- Potential fluctuations in revenues and results of operations in the future.
Revenue & Expenses
Visualization of income flow from segment revenue to net income