DoubleVerify Sees Q3 Revenue $167M-$171M Vs $168.23M Est.; FY24 Revenue $667M-$675M Vs $667.99M Est.

Author: Benzinga Newsdesk | July 30, 2024 04:10pm

Third Quarter and Full-Year 2024 Guidance:

DoubleVerify anticipates Revenue and Adjusted EBITDA to be in the following ranges:

Third Quarter 2024:

• Revenue of $167 to $171 million, a year-over-year increase of 17% at the midpoint.
• Adjusted EBITDA of $49 to $53 million, representing a 30% margin at the midpoint.

Full Year 2024:

• Revenue of $667 to $675 million, a year-over-year increase of 17% at the midpoint.
• Adjusted EBITDA of $206 to $214 million, representing a 31% margin at the midpoint.

With respect to the Company's expectations under "Third Quarter and Full Year 2024 Guidance" above, the Company has not reconciled the non-GAAP measure Adjusted EBITDA to the GAAP measure net income in this press release because the Company does not provide guidance for depreciation and amortization expense, acquisition-related costs, interest income, and income taxes on a consistent basis as the Company is unable to quantify these amounts without unreasonable efforts, which would be required to include a reconciliation of Adjusted EBITDA to GAAP net income. In addition, the Company believes such a reconciliation would imply a degree of precision that could be confusing or misleading to investors.

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