DoubleVerify Holdings Q3 2024 10-Q Filing

TL;DR

**DVFY Q3 10-Q: Share repurchases continue, financials detailed.**

AI Summary

DoubleVerify Holdings, Inc. filed its 10-Q for the period ending September 30, 2024. The company reported on its financial performance and business activities, including details on its share repurchase program. Key financial data and operational updates are presented in this filing.

Why It Matters

This filing provides investors with the latest financial and operational details for DoubleVerify Holdings, Inc., crucial for understanding the company's performance and future outlook.

Risk Assessment

Risk Level: medium — The filing contains standard financial reporting for a public company, but the specific details of financial performance and any forward-looking statements could indicate risks.

Key Numbers

• N/A — Revenue (Specific revenue figures are not detailed in the provided snippet.)
• N/A — Net Income (Specific net income figures are not detailed in the provided snippet.)
• 300000 — Share Repurchase Program (Indicates a share repurchase program is active or has been considered.)

Key Players & Entities

• DoubleVerify Holdings, Inc. (company) — Filer of the 10-Q
• 2024-09-30 (date) — End of the reporting period
• 2024-11-06 (date) — Filing date
• 462 BROADWAY, NEW YORK, NY 10013 (address) — Company's business and mailing address

FAQ

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 per share DV New York Stock Exchang

Filing Documents

• dv-20240930x10q.htm (10-Q) — 1946KB
• dv-20240930xex31d1.htm (EX-31.1) — 13KB
• dv-20240930xex31d2.htm (EX-31.2) — 13KB
• dv-20240930xex32d1.htm (EX-32.1) — 6KB
• dv-20240930xex32d2.htm (EX-32.2) — 7KB
• 0001558370-24-014636.txt ( ) — 7971KB
• dv-20240930.xsd (EX-101.SCH) — 42KB
• dv-20240930_cal.xml (EX-101.CAL) — 67KB
• dv-20240930_def.xml (EX-101.DEF) — 174KB
• dv-20240930_lab.xml (EX-101.LAB) — 478KB
• dv-20240930_pre.xml (EX-101.PRE) — 355KB
• dv-20240930x10q_htm.xml (XML) — 1366KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 22 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 32 Item 4.

Controls and Procedures

Controls and Procedures 32 Part II OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 33 Item 1A.

Risk Factors

Risk Factors 33 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 33 Item 3. Defaults Upon Senior Securities 33 Item 4. Mine Safety Disclosures 33 Item 5. Other Information 34 Item 6. Exhibits 35

Signatures

Signatures 36 2 Table of Contents Special Note Regarding Forward-Looking Statements This Quarterly Report on Form 10-Q ("Quarterly Report") includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). All statements other than statements of historical facts included in this Quarterly Report, including, without limitation, statements regarding our future financial position, business strategy, budgets, projected costs, savings and plans and objectives of management for future operations, are forward-looking statements. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," "expect," "intend," "estimate," "plan," "anticipate," "believe" or "continue" or the negative thereof or variations thereon or similar terminology. Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to have been correct. You should read the "Special Note Regarding Forward-Looking Statements" and "Risk Factors" sections of our Annual Report on Form 10-K for the year ended December 31, 2023 and filed with the Securities and Exchange Commission ("SEC"), on February 28, 2024, for a discussion of important factors that could cause actual results to differ materially from the results described in or implied by the forward-looking statements contained in this report. There may be other factors not presently known to us or which we currently consider to be immaterial that may cause our actual results to differ materially from the forward-looking statements. All forward-looking statements attributable to us or persons acting on our behalf apply only as of the date of this Quarterly Report and are expressly qualified in their entirety by the cautionar

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements DoubleVerify Holdings, Inc. CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) As of As of (in thousands, except per share data) September 30, 2024 December 31, 2023 Assets: Current assets Cash and cash equivalents $ 311,910 $ 310,131 Short-term investments 50,686 — Trade receivables, net of allowances for doubtful accounts of $ 9,983 and $ 9,442 as of September 30, 2024 and December 31, 2023, respectively 193,303 206,941 Prepaid expenses and other current assets 23,609 15,930 Total current assets 579,508 533,002 Property, plant and equipment, net 67,421 58,020 Operating lease right-of-use assets, net 70,432 60,470 Goodwill 437,646 436,008 Intangible assets, net 119,654 140,883 Deferred tax assets 31,732 13,077 Other non-current assets 5,960 1,571 Total assets $ 1,312,353 $ 1,243,031 Liabilities and Stockholders' Equity: Current liabilities Trade payables $ 13,376 $ 12,932 Accrued expenses 46,541 44,264 Operating lease liabilities, current 10,761 9,029 Income tax liabilities 696 5,833 Current portion of finance lease obligations 2,528 2,934 Other current liabilities 14,295 8,863 Total current liabilities 88,197 83,855 Operating lease liabilities, non-current 79,571 71,563 Finance lease obligations 1,331 2,865 Deferred tax liabilities 9,635 8,119 Other non-current liabilities 3,039 2,690 Total liabilities 181,773 169,092 Commitments and contingencies (Note 15) Stockholders' equity Common stock, $ 0.001 par value, 1,000,000 shares authorized, 173,288 shares issued and 170,631 outstanding as of September 30, 2024; 1,000,000 shares authorized, 171,168 shares issued and 171,146 outstanding as of December 31, 2023 173 171 Additional paid-in capital 949,456 878,331 Treasury stock, at cost, 2,657 shares and 22 shares as of September 30, 2024 and December 31, 2023, respectively ( 50,700 ) (