DoubleVerify Q4 2023 Earnings Report
Key Takeaways
DoubleVerify reported a 29% increase in fourth-quarter revenue, reaching $172.2 million. The company's net income was $33.1 million, and adjusted EBITDA was $65.4 million, representing a 38% adjusted EBITDA margin. Growth was driven by strong execution and expansion in social, CTV measurement, and programmatic activation.
Total revenue increased by 29% year-over-year to $172.2 million.
Social measurement revenue grew by 62% year-over-year.
Net income reached $33.1 million, and adjusted EBITDA was $65.4 million with a 38% margin.
The company launched brand safety and suitability measurement on Facebook and Instagram Feeds and Reels.
DoubleVerify
DoubleVerify
DoubleVerify Revenue by Segment
Forward Guidance
DoubleVerify anticipates first quarter 2024 revenue of $136 to $140 million, a year-over-year increase of 13% at the midpoint, and adjusted EBITDA in the range of $33 to $37 million, representing a 25% margin at the midpoint. For the full year 2024, the company anticipates revenue of $688 to $704 million, a year-over-year increase of 22% at the midpoint, and adjusted EBITDA in the range of $205 to $221 million, representing a 31% margin at the midpoint.
Positive Outlook
- Revenue of $136 to $140 million, a year-over-year increase of 13% at the midpoint.
- Adjusted EBITDA in the range of $33 to $37 million, representing a 25% margin at the midpoint.
- Revenue of $688 to $704 million, a year-over-year increase of 22% at the midpoint.
- Adjusted EBITDA in the range of $205 to $221 million, representing a 31% margin at the midpoint.
- Excited about solid pipeline of new and expansionary business opportunities as we continue to meaningfully outpace the digital advertising industry and gain market share.