DoubleVerify Holdings Inc. (DV) shares declined 3.74% to trade at $33.5 in after-market on Tuesday, May 25, 2021. Earlier, DV’s stock gained 5.42% to close Tuesday’s normal trading session at $34.80 per share. DV shares have moved up by 21.25% in the past week. Further, the company has a current market of $5.00 billion and its outstanding shares stood at 143.70 million.
Let’s have a look at the recent developments about DV?
On May 25, 2021, DoubleVerify Holdings Inc released its financial results for the first quarter ended March 31, 2021.
Q1 2021 financial highlights
- DoubleVerify Holdings Inc reported total revenue of $67.6 million for Q1 2021, compared to $51.2 million in Q1 2020.
- Net income increased to $5.6 million in Q1 2021 compared to $2.44 million in Q1 2020.
- In Q1 2021, the cost of revenue was $10.2 million compared to $7.3 million in Q1 2020.
- Adjusted EBITDA was $21.7 million in Q1 2021 compared to $15.36 million in Q1 2021.
- Basic EPS was $0.05 in Q1 2021 compared to $0.02 in Q1 2020.
- Diluted earnings per share were $0.04 in Q1 2021, compared to $0.02 diluted EPS in Q1 2020.
The financial outlook for 2nd quarter 2021
For the 2nd quarter of 2021, DV is expecting
- Revenue in the range of $72 to $74 million.
- Adjusted EBITDA in the range of $20 to $22 million.
New SVP of investor-relations
On May 20, 2021, DoubleVerify appointed TejalEngman as Senior Vice President of Investor Relations. Tejal will report to Nicola Allais, Chief Financial Officer at DV and he will be responsible for financial communications related to the company’s strategies, performance, and initiatives.
DV expansion into MENAT region
On May 6, 2021, DoubleVerify announced the expansion of its business into the Middle East, North Africa, and Turkey (MENAT) region.
The company also appointed two new business directors – JoharaAbdelmoumen and Wassim Mneimneh – both of whom join with extensive experience of the region and they will be based in the Dubai office
On April 29, 2021, Viant Technology Inc. and DoubleVerify announced the successful integration of DoubleVerify’s Inventory Quality Management (IQM) into the Adelphic® advertising software.
IQM provides transparency into the quality of digital media for the world’s largest ad platforms.
New SVP appointment
On April 27, 2021, DoubleVerify appointed James Cashmore as Senior Vice President, Global Client, and Agency Partnerships. James will be based in London, reporting directly to Julie Eddleman, EVP, Chief Commercial Officer at DV, and will lead a newly-formed team, expressly focused on addressing the holistic needs of top global brands, agencies, and consultancies.
The DV stock price went down in the after-markets after the financial results announcement which is a bit strange because the fiscal figures are not that bad. We hope that DV will perform better on Thursday.