olivLaw · US equity research
DoubleVerify Holdings, Inc. DV
Services-Computer Programming, Data Processing, Etc. · SIC 7370 · Vertical: Services-Computer Programming, Data Processing, Etc. (SIC 7370)
DoubleVerify is a media effectiveness platform that uses artificial intelligence to measure the quality of digital ads, with revenue of 748.3 million USD in 2025. In August 2026 the company agreed to a merger under which Nielsen would acquire it, which changes the outlook for investors.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, DoubleVerify Holdings, Inc. (DV) stock was 13.55 USD (+0.07% on the day), with market capitalisation 2.1 bn USD, P/E 34.0 on diluted EPS of 0.40 USD over the last 12 months, beta 0.78, 52-week range 8.61–13.57 USD. Latest reported quarter (Q3 2026): revenue of 205.6 m USD (+9.0% YoY), net income of 15.9 m USD (+56.1% YoY), diluted EPS 0.10 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 59.5
- strong (55–70)
- Bollinger (20, 2)
- 13.49 – 13.59
- in the upper half of the band · %B 0.65 · band width 0.7%
- SMA 50 / 200
- 13.46 / 11.33
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 0.05 / 0.06
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +0.8% | −2.0% | +2.8 pp | — |
| 3 months | +13.0% | −2.2% | +15.2 pp | — |
| 6 months | +21.5% | +4.3% | +17.3 pp | — |
| Year to date | +18.4% | +10.6% | +7.9 pp | — |
| 1 year | +21.5% | +10.5% | +11.1 pp | −21.0% |
| 3 years | −53.9% | +73.7% | −127.5 pp | −11.3% |
| 5 years | −59.1% | +61.7% | −120.9 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 30 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 190.6 m | 165.1 m | 189.0 m | 188.6 m | 205.6 m | 180.8 m | 193.8 m | 205.6 m |
| Cost of revenue | 34.3 m | 31.0 m | 33.1 m | 33.5 m | 35.9 m | 33.2 m | 32.5 m | 38.5 m |
| Research & development | 37.5 m | 44.7 m | 47.2 m | 44.8 m | 41.7 m | 45.4 m | 46.4 m | 44.4 m |
| Operating income | 38.8 m | 6.8 m | 13.5 m | 21.1 m | 37.8 m | 15.6 m | 23.0 m | 28.3 m |
| Depreciation & amortisation | 11.8 m | 12.4 m | 14.7 m | 15.2 m | 14.3 m | 15.3 m | 16.7 m | 18.3 m |
| Interest expense | 300.0 k | 420.0 k | 443.0 k | 467.0 k | 403.0 k | 413.0 k | 475.0 k | 652.0 k |
| Pre-tax income | 37.4 m | 9.5 m | 15.2 m | 20.5 m | 37.4 m | 14.2 m | 21.9 m | 27.9 m |
| Income tax | 14.0 m | 7.2 m | 6.5 m | 10.3 m | 8.1 m | 7.8 m | 9.0 m | 12.0 m |
| Net income | 23.4 m | 2.4 m | 8.8 m | 10.2 m | 29.3 m | 6.4 m | 12.9 m | 15.9 m |
| Diluted EPS | 0.14 ≈ | 0.01 | 0.05 | 0.06 | 0.18 ≈ | 0.04 | 0.08 | 0.10 |
| Operating cash flow | 37.4 m | 37.7 m | 49.6 m ≈ | 51.2 m ≈ | 72.7 m | 4.2 m | 76.2 m ≈ | 56.0 m ≈ |
| Capex | 7.4 m | 6.3 m | 9.5 m ≈ | 12.1 m ≈ | 10.6 m | 10.5 m | 10.5 m ≈ | 10.3 m ≈ |
| Share repurchases | 77.9 m | 82.2 m | 0 ≈ | 50.1 m ≈ | 0 | 75.1 m | 25.1 m ≈ | 0 ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 14 percentile of its own 22-quarter history (min 29.0, median 81.1, max 735.7; quarters with earnings only).
Fiscal years
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | 182.7 m | 243.9 m | 332.7 m | 452.4 m | 572.5 m | 656.8 m | 748.3 m |
| Revenue YoY | unavailable | +33.5% | +36.4% | +36.0% | +26.6% | +14.7% | +13.9% |
| Net income | 23.3 m | 20.5 m | 29.3 m | 43.3 m | 71.5 m | 56.2 m | 50.7 m |
| Net income YoY | unavailable | −12.2% | +43.3% | +47.6% | +65.2% | −21.3% | −9.9% |
| Diluted EPS | 0.16 | 0.14 | 0.18 | 0.25 | 0.41 | 0.32 | 0.30 |
| Diluted EPS YoY | unavailable | −12.5% | +28.6% | +38.9% | +64.0% | −22.0% | −6.3% |
| net % | 12.8% | 8.4% | 8.8% | 9.6% | 12.5% | 8.6% | 6.8% |
| Free cash flow | 23.5 m | 11.5 m | 73.4 m | 54.9 m | 102.7 m | 132.5 m | 172.7 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 259.0 m USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- 1.1 bn USD
- Total assets
- 1.4 bn USD
- Debt / equity
- unavailable
- Current ratio
- 4.27x
- ROE
- 4.6%
- ROA
- 3.9%
- FCF margin
- 23.1%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 243.9 m | 332.7 m | 452.4 m | 572.5 m | 656.8 m | 748.3 m | SEC (XBRL)· 26 Feb 2026verified |
| Cost of revenue | 35.8 m | 54.4 m | 77.9 m | 106.6 m | 116.5 m | 133.5 m | SEC (XBRL)· 26 Feb 2026verified |
| Gross profit | 208.2 m ≈ | 278.4 m ≈ | 374.6 m ≈ | 465.9 m ≈ | 540.3 m ≈ | 614.8 m ≈ | SEC (XBRL)· 26 Feb 2026derived |
| Research & development | 47.0 m | 62.7 m | 95.1 m | 125.4 m | 153.0 m | 178.4 m | SEC (XBRL)· 26 Feb 2026verified |
| Operating income | 21.4 m | 26.7 m | 59.0 m | 85.7 m | 82.4 m | 79.2 m | SEC (XBRL)· 26 Feb 2026verified |
| Depreciation & amortisation | 24.6 m | 30.3 m | 34.3 m | 40.9 m | 45.2 m | 56.6 m | SEC (XBRL)· 26 Feb 2026verified |
| EBITDA | 46.0 m ≈ | 57.0 m ≈ | 93.4 m ≈ | 126.6 m ≈ | 127.6 m ≈ | 135.8 m ≈ | SEC (XBRL)· 26 Feb 2026derived |
| Interest expense | 4.9 m | 1.2 m | 905.0 k | 1.1 m | 1.1 m | 1.7 m | SEC (XBRL)· 26 Feb 2026verified |
| Pre-tax income | 17.3 m | 25.8 m | 59.4 m | 95.9 m | 88.8 m | 82.7 m | SEC (XBRL)· 26 Feb 2026verified |
| Income tax | -3.1 m | -3.5 m | 16.1 m | 24.4 m | 32.6 m | 32.1 m | SEC (XBRL)· 26 Feb 2026verified |
| Net income | 20.5 m | 29.3 m | 43.3 m | 71.5 m | 56.2 m | 50.7 m | SEC (XBRL)· 26 Feb 2026verified |
| Diluted EPS | 0.14 | 0.18 | 0.25 | 0.41 | 0.32 | 0.30 | SEC (XBRL)· 26 Feb 2026verified |
| Weighted average diluted shares | 145.4 m | 160.3 m | 170.8 m | 173.4 m | 175.1 m | 166.7 m | SEC (XBRL)· 26 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Revenue − Cost of revenue; Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 33.4 m | 221.6 m | 267.8 m | 310.1 m | 292.8 m | 259.0 m | SEC (XBRL)· 26 Feb 2026verified |
| Receivables | 94.7 m | 122.9 m | 167.1 m | 206.9 m | 226.2 m | 221.2 m | SEC (XBRL)· 26 Feb 2026verified |
| Current assets | 141.9 m | 367.8 m | 445.1 m | 533.0 m | 559.1 m | 519.3 m | SEC (XBRL)· 26 Feb 2026verified |
| Property, plant & equipment, net | 18.1 m | 17.6 m | 47.0 m | 58.0 m | 70.2 m | 103.3 m | SEC (XBRL)· 26 Feb 2026verified |
| Goodwill | 227.3 m | 350.6 m | 343.0 m | 436.0 m | 427.6 m | 516.0 m | SEC (XBRL)· 26 Feb 2026verified |
| Intangibles (excl. goodwill) | 121.7 m | 153.4 m | 135.4 m | 140.9 m | 110.4 m | 101.6 m | SEC (XBRL)· 26 Feb 2026verified |
| Total assets | 511.3 m | 892.2 m | 1.0 bn | 1.2 bn | 1.3 bn | 1.4 bn | SEC (XBRL)· 26 Feb 2026verified |
| Accounts payable | 3.5 m | 3.9 m | 6.7 m | 12.9 m | 11.6 m | 14.7 m | SEC (XBRL)· 26 Feb 2026verified |
| Long-term debt | 22.0 m | — | — | — | — | — | SEC (XBRL)· 26 May 2021verified |
| Current liabilities | 34.0 m | 57.0 m | 68.9 m | 83.9 m | 103.5 m | 121.6 m | SEC (XBRL)· 26 Feb 2026verified |
| Total liabilities | 94.6 m | 93.1 m | 160.2 m | 169.1 m | 192.8 m | 222.8 m | SEC (XBRL)· 26 Feb 2026verified |
| Equity | 416.7 m † | 799.1 m † | 876.9 m † | 1.1 bn † | 1.1 bn † | 1.1 bn † | SEC (XBRL)· 26 Feb 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 21.2 m | 82.7 m | 94.9 m | 119.7 m | 159.7 m | 211.2 m | SEC (XBRL)· 26 Feb 2026verified |
| Capex | 9.8 m | 9.4 m | 40.0 m | 17.0 m | 27.1 m | 38.5 m | SEC (XBRL)· 26 Feb 2026verified |
| Free cash flow | 11.5 m ≈ | 73.4 m ≈ | 54.9 m ≈ | 102.7 m ≈ | 132.5 m ≈ | 172.7 m ≈ | SEC (XBRL)· 26 Feb 2026derived |
| Investing cash flow | -9.8 m | -158.6 m | -40.0 m | -84.2 m | -44.8 m | -105.4 m | SEC (XBRL)· 26 Feb 2026verified |
| Financing cash flow | 10.4 m | 264.4 m | -7.9 m | 6.5 m | -129.5 m | -143.9 m | SEC (XBRL)· 26 Feb 2026verified |
| Share repurchases | — | 1.8 m | 10.2 m | 4.6 m | 128.0 m | 132.3 m | SEC (XBRL)· 26 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
4 indicators that do not apply to the sector.
Valuation
olivLaw classification
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 2.1 bn USD
Key indicators
Coverage and freshness
Score by group
77% · Insufficient data
Estimated value range
unavailable — no valuation method could be computed
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
- DCF (discounted cash flow)unavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: EV/Salesunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
no valuation method could be computed
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| Gross margin · Quality | 82.2% | 100 (on a fixed band) | 14% |
| EBIT margin · Quality | 13.3% | 84 (vs peers) | 11% |
| FCF margin · Quality | 21.3% | 85 (on a fixed band) | 11% |
| Revenue CAGR 3Y · Growth | 18.3% | 73 (on a fixed band) | 22% |
| Revenue growth (YoY) · Growth | 13.9% | 59 (vs peers) | 11% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 4.7x | 100 (on a fixed band) | 8% |
| EV/Sales · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 7.9% | 100 (on a fixed band) | 17% |
| Shareholder yield (distributions) · Returns | 4.7% | 100 (on a fixed band) | 6% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial100/100 · 1/2 factors with a value
- Growth69/100 · 2/2 factors with a value
- Quality90/100 · 3/3 factors with a value
- Returns100/100 · 1/1 factors with a value
- Valuation· partial100/100 · 1/2 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
DoubleVerify Holdings, Inc. (DV). Latest full fiscal year: 2025; data up to 2026-09-30.
Figures computed from the financial statements: revenue 748.3 m USD in 2025; YoY growth 13.9%; net margin 8.2%; ROE 5.8%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Gross margin: 82.2%
- EBIT margin: 13.3%
- FCF margin: 21.3%
- Revenue CAGR 3Y: 18.3%
- Current ratio: 4.7x
- FCF yield: 7.9%
- Shareholder yield (distributions): 4.7%
What contradicts it
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
Not assessed (insufficient data or a ratio without meaning): Net debt / EBITDA, EV/Sales.
Versus the vertical median
Services-Computer Programming, Data Processing, Etc. (SIC 7370) · same industry (4-digit SIC) · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| GOOGLAlphabet Inc. | 3,442.7 bn | 14.6 | 44.3% | 50.0% | +15.1% | −13% / +111% |
| APPAppLovin Corporation | 82.3 bn | 18.9 | 203.7% | 64.6% | +70.0% | −59% / +555% |
| FLUTFlutter Entertainment plc | 14.2 bn | — | -9.1% | -5.0% | +16.6% | −61% / −48% |
| FDSFactset Research Systems Inc | 12.1 bn | 23.5 | 25.5% | 21.5% | +6.7% | +23% / −25% |
| DOCNDigitalOcean Holdings, Inc. | 9.9 bn | 281.3 | 5.1% | 3.1% | +15.5% | +89% / +184% |
| SOGPSound Group Inc. | 8.8 bn | 350.3 | 70.4% | 7.1% | +59.4% | −21% / +265% |
| NIQNIQ Global Intelligence plc | 6.0 bn | — | -65.3% | -8.0% | +5.7% | +29% / unavailable |
| SIFYSify Technologies Ltd | 5.8 bn | — | -4.1% | -2.0% | +9.0% | +20% / +53% |
| DVDoubleVerify Holdings, Inc. | 2.1 bn | 34.0 | 5.8% | 8.2% | +13.9% | +22% / −54% |
| BZKanzhun Limited | 1.7 bn | 41.6 | 16.0% | 33.1% | +17.3% | −21% / +6% |
| WBWeibo Corporation | 1.6 bn | 3.8 | 12.1% | 25.6% | +0.1% | −35% / −36% |
| DJTTrump Media & Technology Group Corp. | 1.2 bn | — | -78.9% | -28,867.7% | +1.8% | −61% / −74% |
| HSTMHealthstream Inc | 949.7 m | 45.4 | 6.0% | 6.6% | +4.3% | +29% / +30% |
| NXDRNextdoor Holdings, Inc | 934.4 m | — | -7.2% | -11.1% | +4.2% | unavailable / unavailable |
| TBLATaboola.com Ltd. | 921.2 m | 7.8 | 12.7% | 6.1% | +8.3% | −33% / −21% |
| CEVACeva, Inc. | 788.9 m | — | -3.6% | -9.5% | +2.5% | +30% / +29% |
| RXTRackspace Technology, Inc. | 716.2 m | — | — | -5.9% | −1.9% | +165% / +123% |
| NEXNNexxen International Ltd. | 513.3 m | 22.2 | 5.0% | 6.9% | −0.2% | +41% / +151% |
| HUYAHUYA Inc. | 470.7 m | — | -1.9% | -1.7% | +11.6% | −27% / −38% |
| RZLVRezolve AI plc | 460.8 m | — | -98.7% | -216.7% | +2,224.2% | −55% / −87% |
| ZIPZiprecruiter, Inc. | 321.9 m | 12.9 | — | 6.2% | −5.3% | −5% / −66% |
| MFMindForge Inc. | 172.5 m | — | -167.2% | -222.9% | −49.9% | −83% / unavailable |
| GOAIEva Live Inc | 31.8 m | — | -58.5% | -39.3% | +82.6% | unavailable / unavailable |
| HOLOMicroCloud Hologram Inc. | 27.2 m | — | -2.3% | -12.4% | +38.6% | −66% / −100% |
| TEADTeads Holding Co. | 27.0 m | — | -196.2% | -43.3% | +46.1% | −61% / −93% |
1- and 3-year price returns: for DV from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 9.20 Total return -32% · Per year -32% | 16.18 Total return 19% · Per year 19% | 24.27 Total return 79% · Per year 79% |
| 3 years | 10.91 Total return -20% · Per year -7% | 21.40 Total return 58% · Per year 16% | 34.95 Total return 158% · Per year 37% |
| 5 years | 12.94 Total return -5% · Per year -1% | 28.30 Total return 109% · Per year 16% | 50.33 Total return 271% · Per year 30% |
- Exit P/E± 5.35
- Net margin± 3.75
- Annual revenue growth± 2.79
- Annual dilution± 0.31
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 07 Aug 2026; since then the company filed 8-K (30 Oct 2026 · results), 10-Q (30 Oct 2026).
In brief
DoubleVerify is a media effectiveness platform that uses artificial intelligence to measure the quality of digital ads, with revenue of 748.3 million USD in 2025. In August 2026 the company agreed to a merger under which Nielsen would acquire it, which changes the outlook for investors.
SWOT
Strengths
- The company has a proprietary quality metric, a broad set of integrations and a customer base with high retention.
- The business model scales, with low incremental costs for new clients and no debt on the balance sheet in mid-2026.
- The data asset built over time strengthens its edge over smaller competitors.
Weaknesses
- Activation revenue slipped slightly in the second quarter of 2026, showing reliance on programmatic volumes.
- The company depends on partner platforms that can compete directly with its solutions.
- Its customer base is mainly in the United States, and international expansion is still in progress.
Opportunities
- Expansion into CTV and social platforms could add new revenue sources.
- AI-based products such as DV Authentic AdVantage could increase the value offered to clients.
- Markets outside the Americas offer growth potential if local investments pay off.
Threats
- Competition could intensify and lead to commoditization of services.
- Data regulation and public criticism of digital advertising could reduce demand.
- Cyberattacks and data center outages could disrupt service delivery.
Risks
- Merger agreementhigh
The company signed a merger agreement with Nielsen, and completion depends on conditions and regulatory approvals. If the deal does not close, the outlook could differ from what is described now.
- Withdrawn guidancemedium
The company withdrew its financial outlook and suspended investor calls for the duration of the transaction, which limits available information.
- Intense competitionmedium
Larger competitors or partner platforms could cut prices and lose market share.
- Technology riskmedium
If solutions do not adapt quickly to new technologies, they could become less competitive.
- Cyber riskmedium
Disruptions or attacks on systems could affect service delivery and reputation.
Investment thesis
What would need to be true (bull case)
- If the digital ad market keeps growing, demand for independent measurement could support revenue.
- High client retention and solid margins could support the value of the merger consideration for shareholders.
- New AI-related and CTV products could open additional revenue streams.
What would break the thesis
- If the merger does not close, the shares could reflect a different risk profile than today.
- Softer activation revenue and competition from partner platforms could slow growth.
- Economic uncertainty could reduce clients' advertising budgets.
What to watch
- Completion of the Nielsen merger and regulatory conditionsQ1 2027
- Trends in activation and measurement revenuenext 10-Q
- Net revenue retention rate2027
- Expansion of CTV and AI products2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 07 Aug 2026; since then the company filed 8-K (30 Oct 2026 · results), 10-Q (30 Oct 2026).
The business
DoubleVerify is one of the reference platforms for media effectiveness, measuring digital ad quality through its DV Authentic Ad metric that checks fraud, brand suitability, viewability and geography for each ad. Revenue comes mainly from the analysis fee advertisers pay per thousand impressions, and in 2025 the company measured about 9.5 trillion media transactions, with customers activating its solutions in 110 countries. The company was founded in 2008 and reports a single segment.
Its customers are largely global advertisers, and over 2500 customers span industries such as consumer packaged goods, financial services and telecommunications. Relationships are long-term, with gross revenue retention above 95 percent, which points to a stable base.
The company has grown through acquisitions such as Scibids AI and Rockerbox and through products like DV Authentic Attention and DV Authentic AdVantage, which extend measurement into CTV and social channels.
Segments
Activation
Activation measures ads bought programmatically or on social platforms before purchase; in the second quarter of 2026 it generated 107.7 million USD, down 1 percent from the prior year 3.
Measurement
Measurement verifies ads after they were bought directly from digital properties; in the second quarter of 2026 it grew 6 percent to 66.8 million USD 3.
Market context
The global digital ad market, excluding search, was estimated at 378 billion USD in 2025 and could reach 518 billion USD by 2029, according to estimates cited by the company 1. Growth in programmatic and social ad spend supports demand for independent measurement.
The measurement and verification market is competitive and changing fast, and integrated platforms may offer similar tools at lower prices or for free, which could pressure margins.
Trends
- Growth in digital advertisingtailwind
Spending on digital and programmatic advertising is rising, which could increase the volume of transactions the company measures.
- Artificial intelligence and generated contentmixed
AI-generated content heightens the need to protect media quality, but also the risk of ads placed next to weak content.
- Privacy restrictionstailwind
Data regulation limits third-party cookies, and the company's contextual solutions do not depend on them.
- Economic uncertaintyheadwind
Economic downturns and unstable markets could reduce clients' advertising budgets.
Competitive position
The company competes with other measurement and verification firms, some with greater resources, as well as with partner platforms that offer their own solutions. Advertising agencies may also prefer other tools.
Its edge lies in independence from platforms, broad channel coverage and the DV Authentic Ad metric, but competitive pressure could lead to price cuts.
- Integration platforms
Programmatic and social platforms that offer their own measurement tools, sometimes for free.
- Advertising agencies
Agencies can promote competing solutions and control which tools are used in campaigns.
- Established measurement firms
Established advertising measurement and analytics firms with larger resources.
- Emerging AI optimization tools
New AI-based optimization companies that may enter the market.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
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News & filings
In the press
- Can DoubleVerify’s (DV) AI Push Still Matter With A Buyout Pending?Yahoo Finance — News · 23 Sept 2026 · EN
The latest news item in our archive is from 23 Sept 2026; the newest SEC filing is from 30 Oct 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Current report30 Oct 2026Results of operations · Financial statements and exhibits
- Quarterly report30 Oct 2026
- Current report29 Oct 2026Shareholder vote
- Current report20 Oct 2026Other events
- Current report10 Aug 2026Material agreement · Departure or appointment of officers · Financial statements and exhibits
- Current report (amendment)07 Aug 2026Other events · Financial statements and exhibits
- Quarterly report07 Aug 2026
- Current report06 Aug 2026Other events · Financial statements and exhibits
- Current report06 Aug 2026Results of operations · Financial statements and exhibits
- Current report22 May 2026Shareholder vote
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / DoubleVerify Holdings, Inc. · 26 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / DoubleVerify Holdings, Inc. · 07 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / DoubleVerify Holdings, Inc. · 06 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.