DV — DoubleVerify Holdings, Inc.

Summary of DoubleVerify Q1 2026 Earnings Call

1. Key Financial Results and Metrics:

• Revenue: $181 million, representing a 10% year-over-year growth.
• EBITDA Margin: 31%, exceeding expectations and up from 27% in Q1 2025.
• Total Advertiser Revenue: Grew 9% year-over-year, with measurement revenue up 16% and social measurement revenue increasing 23%.
• Activation Revenue: Grew 6%, with ABS (Automated Brand Safety) contributing 53% of activation revenue.
• Cash Position: Ended the quarter with approximately $174 million in cash and no long-term debt.
• Share Repurchase: $100 million worth of shares repurchased year-to-date, reflecting confidence in the business.

2. Strategic Updates and Business Highlights:

• Strong growth in social verification and optimization solutions, particularly in social activation (92% growth year-over-year).
• Continued focus on AI-driven product innovations, including Slop Stopper and enhanced social activation tools.
• Expansion in streaming TV verification, with CTV measurement volumes up 28% year-over-year.
• New partnerships and product launches, including the ABS Do-Not-Air list and MRC accreditation for TikTok video viewability.
• Emphasis on diversifying customer engagements across various sectors, including healthcare and technology, reducing reliance on retail and CPG.

3. Forward Guidance and Outlook:

• Q2 2026 Revenue Guidance: Expected to range between $199 million and $205 million, representing approximately 7% year-over-year growth.
• Full Year 2026 Revenue Guidance: Reiterated to be between $810 million and $826 million, reflecting an 8% to 10% increase.
• Adjusted EBITDA Margin for Full Year: Expected to be approximately 34%.
• Continued focus on product development, partner expansion, and market share growth, particularly in social and streaming TV.

4. Bad News, Challenges, or Points of Concern:

• Market Conditions: While overall growth is stable, there are no strong tailwinds expected in the macroeconomic environment, which could affect future growth.
• Competition: Increasing sophistication of AI-fueled fraud schemes poses ongoing challenges, with a 140% increase in bot scheme variants noted.
• Dependence on Key Verticals: While diversifying, the company still faces risks associated with reliance on certain sectors, particularly if macroeconomic conditions worsen.

5. Notable Q&A Insights:

• Social Activation Growth: Mark Zagorski highlighted that the growth in social activation is driven by both new and existing customers, particularly on platforms like Meta, YouTube, and TikTok.
• AI Solutions: The Slop Stopper tool is gaining traction, currently applied to 40% of measured impressions, and is seen as both a retention tool and a means to attract new customers.
• LLM Advertising Opportunities: There is strong demand from advertisers for third-party measurement on LLM platforms, with discussions ongoing about integrating DV's solutions into these environments.
• CTV Measurement: The company is focusing on providing more transparency in CTV advertising, which is currently less granular than other platforms, presenting an opportunity for growth.

Overall, DoubleVerify reported a solid start to 2026 with strong financial performance, strategic product innovations, and a positive outlook, despite facing challenges from market conditions and competition.