DV (DoubleVerify Holdings, Inc.) Stock Financials & Earnings | Market Cap Arena

DV (DoubleVerify Holdings, Inc.) Stock Financials & Earnings | Market Cap Arena

DVDoubleVerify Holdings, Inc.

Mkt Cap$2B

Technology·Software - Application·🇺🇸 United States·NYSE

Revenue (TTM)$748M

Net Income (TTM)$51M

EPS (TTM)$0.30

Free Cash Flow (TTM)$173M

Gross Margin82.2%

Op. Margin10.6%

Net Margin6.8%

FCF Margin23.1%

P/S Ratio (TTM)2.3x

P/E Ratio (TTM)34.1x

YoY Rev Growth+13.9%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$123M	$99M	$15M
Q2 23	$134M	$108M	$15M
Q3 23	$144M	$118M	$18M
Q4 23	$172M	$142M	$38M
Q1 24	$141M	$114M	$7M
Q2 24	$156M	$130M	$11M
Q3 24	$170M	$140M	$26M
Q4 24	$191M	$156M	$39M
Q1 25	$165M	$134M	$7M
Q2 25	$189M	$156M	$14M
Q3 25	$189M	$155M	$21M
Q4 25	$206M	$170M	$38M

Revenue Breakdown

Valuation

Quarter	P/S	P/E
Q1 23	3.6x	34.0x
Q2 23	3.4x	32.3x
Q3 23	3.2x	30.6x
Q4 23	3.0x	24.2x
Q1 24	2.9x	26.0x
Q2 24	2.8x	28.3x
Q3 24	2.7x	26.2x
Q4 24	2.6x	30.7x
Q1 25	2.5x	33.6x
Q2 25	2.4x	32.8x
Q3 25	2.4x	38.6x
Q4 25	2.3x	34.1x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	$21M	$17M
Q2 23	$11M	$7M
Q3 23	$36M	$31M
Q4 23	$52M	$47M
Q1 24	$32M	$25M
Q2 24	$36M	$29M
Q3 24	$55M	$48M
Q4 24	$37M	$30M
Q1 25	$38M	$31M
Q2 25	$50M	$40M
Q3 25	$51M	$39M
Q4 25	$73M	$62M

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$4M
Q2 23	$4M
Q3 23	$5M
Q4 23	$5M
Q1 24	$6M
Q2 24	$7M
Q3 24	$6M
Q4 24	$7M
Q1 25	$6M
Q2 25	$10M
Q3 25	$12M
Q4 25	$11M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+26.7%	+14.4%
Q2 23	+21.8%	+23.2%
Q3 23	+28.3%	+28.5%
Q4 23	+28.9%	+28.1%
Q1 24	+14.8%	+24.7%
Q2 24	+16.6%	+21.6%
Q3 24	+17.8%	+14.4%
Q4 24	+10.7%	+12.8%
Q1 25	+17.2%	+18.2%
Q2 25	+21.3%	+21.1%
Q3 25	+11.2%	+16.5%
Q4 25	+7.9%	+10.5%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$12M	9.6%
Q2 23	$15M	11.3%
Q3 23	$16M	11.0%
Q4 23	$16M	9.6%
Q1 24	$20M	14.4%
Q2 24	$25M	15.9%
Q3 24	$23M	13.5%
Q4 24	$23M	11.9%
Q1 25	$24M	14.7%
Q2 25	$27M	14.3%
Q3 25	$27M	14.5%
Q4 25	$25M	12.4%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q1 23	$29M	$20M	$26M
Q2 23	$32M	$20M	$32M
Q3 23	$32M	$23M	$33M
Q4 23	$33M	$25M	$36M
Q1 24	$36M	$22M	$38M
Q2 24	$40M	$23M	$45M
Q3 24	$39M	$23M	$41M
Q4 24	$38M	$24M	$44M
Q1 25	$45M	$27M	$44M
Q2 25	$47M	$30M	$51M
Q3 25	$45M	$27M	$47M
Q4 25	$42M	$27M	$49M

Rule of 40

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q1 23	26.7%	22.0%	48.7
Q2 23	21.8%	20.0%	41.8
Q3 23	28.3%	21.2%	49.5
Q4 23	28.9%	31.1%	60.0
Q1 24	14.8%	14.3%	29.1
Q2 24	16.6%	15.5%	32.0
Q3 24	17.8%	24.4%	42.2
Q4 24	10.7%	26.0%	36.6
Q1 25	17.2%	13.5%	30.8
Q2 25	21.3%	16.1%	37.3
Q3 25	11.2%	19.2%	30.4
Q4 25	7.9%	25.4%	33.2

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$286M	$0	$286M
Q2 23	$295M	$0	$295M
Q3 23	$259M	$0	$259M
Q4 23	$310M	$0	$310M
Q1 24	$302M	$32M	$334M
Q2 24	$256M	$83M	$339M
Q3 24	$312M	$51M	$363M
Q4 24	$293M	$18M	$311M
Q1 25	$156M	$18M	$174M
Q2 25	$212M	$5M	$217M
Q3 25	$201M	$0	$201M
Q4 25	$259M	$0	$259M

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	172M	+0.3%
Q2 23	172M	+0.5%
Q3 23	174M	+0.9%
Q4 23	175M	+0.6%
Q1 24	176M	+0.6%
Q2 24	176M	-0.1%
Q3 24	174M	-1.2%
Q4 24	173M	-0.7%
Q1 25	169M	-2.2%
Q2 25	167M	-1.3%
Q3 25	166M	-0.1%
Q4 25	167M	+0.1%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 18	—	—
FY 19	—	—
FY 20	—	—
FY 21	$1M	316
FY 22	$502K	902
FY 23	$1M	448
FY 24	$549K	1K
FY 25	$608K	1K