Q1 2025 DoubleVerify Holdings Inc Earnings Call Transcript
Key Points
- DoubleVerify Holdings Inc (DV) reported a strong start to 2025 with a 17% year-over-year increase in total revenue, reaching $165 million.
- The company achieved a 27% adjusted EBITDA margin, highlighting operational efficiency.
- Significant growth was observed in the supply side business, with a 35% year-over-year increase, driven by new platform and publisher customers.
- DoubleVerify Holdings Inc (DV) expanded its customer base, with the number of advertisers generating over $200,000 in annual revenue growing by 14% year-over-year.
- The company successfully launched new solutions, such as the content-level pre-bid avoidance solution on Meta's platforms, which showed early traction and improved brand suitability rates.
- Despite strong performance, DoubleVerify Holdings Inc (DV) maintained its full-year guidance due to macroeconomic uncertainties, indicating a cautious outlook.
- International revenue growth was softer this quarter, partly due to a large customer pausing spend, impacting overall performance.
- The company faced challenges with CTV fraud, with sophisticated bot fraud accounting for 65% of all CTV fraud, highlighting ongoing risks in this area.
- Cost of revenue increased due to higher revenue sharing costs with programmatic partners and increased cloud services expenses.
- Social media growth was impacted by a large customer reducing spend due to higher commodity costs, affecting the overall growth in this segment.
Greetings and welcome to the double verify first quarter 2025 financial results conference hall. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation.
If anyone should require operator assistance, please press 0 on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Tjo Inman, senior Vice President of Invested relations.
Thank you. You may begin.
Good afternoon and welcome to Double Verify first quarter 2025 earnings conference call. With us today are Mark Zygorsky, CEO and Nicola Elias, CFO. Today's press release and this call may contain forward-looking statements that are subject to inherent risks, uncertainties, and changes, and reflect our current expectations and information currently available to us, and our actual results could differ materially. For more information, please refer to the risk factors in our recent
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