Overview

• US digital media measurement platform's Q1 rev grew 10% yr/yr, slightly missed analyst expectations

• Adjusted EBITDA margin for Q1 improved to 31%, beating analyst estimates

• Company repurchased 9.8 mln shares for $100.2 mln year to date

Outlook

• DoubleVerify sees Q2 revenue between $199 mln and $205 mln

• Company expects Q2 adjusted EBITDA of $63 mln to $67 mln, margin about 32%

• DoubleVerify reiterates 2026 revenue guidance of $810 mln to $826 mln, adjusted EBITDA margin about 34%

Result Drivers

• SOCIAL & CTV MOMENTUM - Co said revenue growth was driven by gains in social and CTV measurement segments

• INTERNATIONAL & SOCIAL MEASUREMENT - Co reported 23% growth in social measurement revenue and 18% growth in international measurement revenue

• PRODUCT INNOVATION & PARTNERSHIPS - Co cited AI-fueled product launches and new partnerships as supporting growth

Company press release: ID:nGNX8qv607

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 Revenue	Slight Miss*	$180.83 mln	$181.41 mln (19 Analysts)
Q1 Net Income		$6.41 mln
Q1 Adjusted EBITDA	Beat	$55.20 mln	$50.009 mln (18 Analysts)
Q1 Income From Operations		$15.64 mln
Q1 Pretax Profit		$14.23 mln

*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy", 9 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the software peer group is "buy"

• Wall Street's median 12-month price target for Doubleverify Holdings Inc is $12.00, about 4.7% above its May 5 closing price of $11.46

• The stock recently traded at 20 times the next 12-month earnings vs. a P/E of 21 three months ago

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