DoubleVerify — Second Quarter 2026 Earnings Summary

Financial Performance

• Total revenue for the quarter ended June 30, 2026, was $193.8 million, an increase of 3% year-over-year compared to $189.0 million in Q2 2025.
• Net income for the quarter was $12.9 million, compared to $8.8 million in Q2 2025.
• Adjusted EBITDA was $65.3 million, representing a 34% margin, up from a 30% margin in Q2 2025.
• Cash balance stood at $210 million with no debt outstanding.
• For the six months ended June 30, 2026, total revenue was $374.6 million (up 6% year-over-year) and net income was $19.3 million.
• Free cash flow for the quarter was $65.7 million, with a free cash flow conversion rate of 101%.
• Trade receivables were $214.9 million as of June 30, 2026, compared to $221.2 million as of December 31, 2025.
• Total assets were $1.31 billion as of June 30, 2026, down from $1.35 billion as of December 31, 2025.

Business Segments and Product Lines

• Activation revenue was $107.7 million, a decrease of 1% year-over-year.
• Measurement revenue was $66.8 million, an increase of 6% year-over-year.
• Supply-side revenue was $19.3 million, an increase of 13% year-over-year.
• Activation revenue is generated from the evaluation, verification, and measurement of advertising impressions purchased through programmatic demand-side and social media platforms.
• Measurement revenue is generated from the verification and measurement of advertising impressions directly purchased on digital media properties, including publishers, CTV, and social media platforms.
• Supply-side revenue is generated from platforms and publisher partners using DoubleVerify's data analytics to evaluate, verify, and measure advertising inventory.

Other Key Points

• On August 6, 2026, DoubleVerify entered into an Agreement and Plan of Merger with Neptune BidCo US Inc., a parent company of Nielsen Holdings, whereby Nielsen will acquire DoubleVerify.
• Due to the pending transaction, DoubleVerify is suspending future earnings and investor calls, including the conference call scheduled for August 6, 2026.
• DoubleVerify is withdrawing all previously issued financial outlook and guidance for the duration of the transaction's pendency.
• During the six months ended June 30, 2026, the company repurchased shares under authorized repurchase programs totaling $100.2 million.
• Stock-based compensation expense for the six months ended June 30, 2026, was $49.8 million.
• The company incurred $117,000 in other costs for the quarter related to litigation and regulatory matters outside the ordinary course.
• M&A and restructuring costs were $0 for the quarter ended June 30, 2026, compared to $504,000 in the same period in 2025.