Key Elements to Track in DoubleVerify Earnings

2 min read | November 05, 2024 10:18 PM AEDT | By Team Kalkine Media

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Key Elements to Track in DoubleVerify Earnings — Image source: Shutterstock

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Highlights:

DoubleVerify is set to report Q3 earnings tomorrow, with analysts anticipating a 17.3% year-on-year revenue growth to $168.9 million.

The company has consistently outperformed Wall Street’s revenue estimates over the past two years, with an average beat of 1.8%.

The sales and marketing software sector has shown positive investor sentiment, with shares in the segment up 5.8% over the past month.

DoubleVerify (NYSE:DV), a leading digital media measurement and analytics provider, will announce its Q3 earnings results after market hours tomorrow. The company had a strong performance last quarter, surpassing analysts’ revenue expectations by 1.4%, reporting $155.9 million in revenue—an increase of 16.6% year-on-year. This was driven by a significant improvement in gross margin and an outperformance in EBITDA, marking a solid quarter for the company.

For the upcoming quarter, analysts are forecasting a 17.3% year-over-year growth in DoubleVerify’s revenue, which would amount to $168.9 million. This is a slight slowdown compared to the 28.3% growth recorded in the same quarter last year. Additionally, adjusted earnings are expected to come in at $0.21 per share.

DoubleVerify has established a history of exceeding Wall Street's revenue estimates, surpassing projections in every quarter over the past two years, with an average beat of 1.8%. This track record of performance continues to contribute to investor confidence heading into the earnings announcement.

In comparison to its peers in the sales and marketing software sector, companies like GoDaddy (NYSE:GDDY) and VeriSign (NASDAQ:VRSN) have already reported their Q3 results, showing revenue growth of 7.3% and 3.8%, respectively, both of which aligned with analysts’ expectations. However, these results had a muted effect on their stock prices, with little to no significant movement.

The broader sentiment within the sales and marketing software segment has been positive, with stocks up an average of 5.8% in the last month. DoubleVerify’s stock has increased by 4.2% in the same period, and the company is heading into its earnings announcement with a solid outlook from analysts.

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