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Midas Edge

DoubleVerify Holdings, Inc.

For the period ended Sep 30, 2025. Filed Nov 7, 2025.

View on SEC.gov

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2025 · Filed Nov 7, 2025

DV$13.560.0%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits
Contents

Part IFINANCIAL INFORMATION

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)

​​​​​​​
​ · As of · As of
(in thousands, except per share data) · ​ · September 30, 2025 · ​ · December 31, 2024
Assets: · ​ · ​
Current assets · ​ · ​
Cash and cash equivalents​$200,729​$292,820
Short-term investments​​—​​17,805
Trade receivables, net of allowances for doubtful accounts of $7,876 and $9,003 as of September 30, 2025 and December 31, 2024, respectively​​217,586​​226,225
Prepaid expenses and other current assets​58,568​22,201
Total current assets​476,883​559,051
Property, plant and equipment, net​98,358​70,195
Operating lease right-of-use assets, net​​68,508​​67,721
Goodwill​516,960​427,621
Intangible assets, net​108,195​110,356
Deferred tax assets​14,233​35,488
Other non-current assets​12,759​5,778
Total assets​$1,295,896​$1,276,210
Liabilities and Stockholders' Equity:​​​​​
Current liabilities​​​​​
Trade payables​$13,343​$11,598
Accrued expenses​70,400​54,532
Operating lease liabilities, current​​9,821​​11,048
Income tax liabilities​549​15,592
Current portion of finance lease obligations​7,410​2,512
Other current liabilities​18,351​8,200
Total current liabilities​119,874​103,482
Operating lease liabilities, non-current​​79,108​​77,297
Finance lease obligations​6,775​812
Deferred tax liabilities​8,322​8,509
Other non-current liabilities​5,567​2,651
Total liabilities​​219,646​​192,751
Commitments and contingencies (Note 15)​​​​​
Stockholders’ equity​​​​​
Common stock, $0.001 par value, 1,000,000 shares authorized, 176,300 shares issued and 161,094 outstanding as of September 30, 2025; 1,000,000 shares authorized, 174,003 shares issued and 167,069 outstanding as of December 31, 2024​​176​​174
Additional paid-in capital​​1,046,527​​974,383
Treasury stock, at cost, 15,206 shares and 6,934 shares as of September 30, 2025 and December 31, 2024, respectively​​(260,011)​​(131,620)
Retained earnings​276,535​255,214
Accumulated other comprehensive income (loss), net of income taxes​13,023​(14,692)
Total stockholders’ equity​1,076,250​1,083,459
Total liabilities and stockholders' equity​$1,295,896​$1,276,210

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (UNAUDITED)

​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​
​ · ​ · Three Months Ended September 30, · ​ · Nine Months Ended September 30,
(in thousands, except per share data) · 2025 · 2024 · 2025 · 2024
Revenue​$188,621​$169,556​$542,703​$466,228
Cost of revenue (exclusive of depreciation and amortization shown separately below)​33,465​​29,479​97,557​82,199
Product development​44,842​​39,306​136,762​115,506
Sales, marketing and customer support​47,022​​40,525​141,594​123,260
General and administrative​26,997​​23,039​83,100​68,180
Depreciation and amortization​15,191​​11,483​42,275​33,415
Income from operations​21,104​25,724​41,415​43,668
Interest expense​467​​353​1,330​​818
Other expense (income), net​99​​(4,225)​(5,185)​​(8,561)
Income before income taxes​20,538​​29,596​45,270​51,411
Income tax expense​10,336​​11,395​23,949​​18,580
Net income​$10,202​$18,201​$21,321​$32,831
Earnings per share:​​​​​​​​​​
Basic​$0.06​$0.11​$0.13​$0.19
Diluted​$0.06​$0.10​$0.13​$0.19
Weighted-average common stock outstanding:​​​​​​​​
Basic​162,031​​170,254​​163,285​​171,060
Diluted​166,497​​173,911​​167,368​​175,868
Comprehensive income:​​​​​​​​​​
Net income​$10,202​$18,201​$21,321​$32,831
Other comprehensive income:​​​​​​​​​​
Foreign currency cumulative translation adjustment​839​9,079​27,715​2,640
Total comprehensive income​$11,041​$27,280​$49,036​$35,471

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (UNAUDITED)

​​​​​​​​​​​​​​​​​​​​​​​
​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · Accumulated Other · ​ · ​ · ​
​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · Additional · ​ · ​ · ​ · ​ · Comprehensive · ​ · Total
​ · ​ · Common Stock · ​ · Treasury Stock · ​ · Paid-in · ​ · Retained · ​ · Income (Loss) · ​ · Stockholders’
(in thousands) · Shares · Amount · Shares · Amount · Capital · Earnings · Net of Income Taxes · Equity
Balance as of January 1, 2025​174,003​$174​6,934​$(131,620)​$974,383​$255,214​$(14,692)​$1,083,459
Foreign currency translation adjustment​—​—​—​—​—​—​7,493​7,493
Shares repurchased for settlement of employee tax withholdings​—​​—​210​​(3,210)​​—​​—​​—​​(3,210)
Stock-based compensation expense​—​—​—​—​25,080​—​—​25,080
Common stock issued upon exercise of stock options​58​​—​—​​—​​222​​—​​—​​222
Common stock issued upon vesting of restricted stock units​641​1​—​—​(1)​—​—​—
Common stock issued upon vesting of performance stock units​71​​—​—​​—​​—​​—​​—​​—
Shares repurchased under the Repurchase Program and New Repurchase Program​—​​—​5,169​​(82,240)​​—​​—​​—​​(82,240)
Excise tax on shares repurchased​—​​—​—​​(64)​​(668)​​—​​—​​(732)
Treasury stock reissued upon settlement of equity awards​—​​—​(18)​​350​​(350)​​—​​—​​—
Net income​—​—​—​—​—​2,361​—​2,361
Balance as of March 31, 2025​174,773​​175​12,295​​(216,784)​​998,666​​257,575​​(7,199)​​1,032,433
Foreign currency translation adjustment​—​​—​—​​—​​—​​—​​19,383​​19,383
Shares repurchased for settlement of employee tax withholdings​—​​—​35​​(494)​​—​​—​​—​​(494)
Stock-based compensation expense​—​​—​—​​—​​28,053​​—​​—​​28,053
Common stock issued under employee purchase plan​135​​—​—​​—​​1,577​​—​​—​​1,577
Common stock issued upon exercise of stock options​29​​—​—​​—​​148​​—​​—​​148
Common stock issued upon vesting of restricted stock units​954​​1​—​​—​​(1)​​—​​—​​—
Common stock issued upon vesting of performance stock units​14​​—​—​​—​​—​​—​​—​​—
Excise tax on shares repurchased​—​​—​—​​157​​—​​—​​—​​157
Net income​—​​—​—​​—​​—​​8,758​​—​​8,758
Balance as of June 30, 2025​175,905​​176​12,330​​(217,121)​​1,028,443​​266,333​​12,184​​1,090,015
Foreign currency translation adjustment​—​​—​—​​—​​—​​—​​839​​839
Shares repurchased for settlement of employee tax withholdings​—​​—​259​​(3,391)​​—​​—​​—​​(3,391)
Stock-based compensation expense​—​​—​—​​—​​28,786​​—​​—​​28,786
Common stock issued upon exercise of stock options​76​​—​—​​—​​260​​—​​—​​260
Common stock issued upon vesting of restricted stock units​313​​—​—​​—​​—​​—​​—​​—
Common stock issued upon vesting of performance stock units​6​​—​—​​—​​—​​—​​—​​—
Shares repurchased under the New Repurchase Program​—​​—​3,258​​(50,065)​​—​​—​​—​​(50,065)
Excise tax on shares repurchased​—​​—​—​​(396)​​—​​—​​—​​(396)
Treasury stock reissued upon settlement of equity awards​—​​—​(641)​​10,962​​(10,962)​​—​​—​​—
Net income​—​​—​—​​—​​—​​10,202​​—​​10,202
Balance as of September 30, 2025​176,300​$176​15,206​$(260,011)​$1,046,527​$276,535​$13,023​$1,076,250

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (UNAUDITED)

​​​​​​​​​​​​​​​​​​​​​​​
​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · Accumulated Other · ​ · ​ · ​
​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · Additional · ​ · ​ · ​ · ​ · Comprehensive · ​ · Total
​ · ​ · Common Stock · ​ · Treasury Stock · ​ · Paid-in · ​ · Retained · ​ · Income (Loss) · ​ · Stockholders’
(in thousands) · Shares · Amount · Shares · Amount · Capital · Earnings · Net of Income Taxes · Equity
Balance as of January 1, 2024​171,168​$171​22​$(743)​$878,331​$198,983​$(2,803)​$1,073,939
Foreign currency translation adjustment​—​​—​—​​—​​—​​—​​(4,625)​(4,625)
Shares repurchased for settlement of employee tax withholdings​—​​—​48​​(1,792)​​—​​—​​—​(1,792)
Stock-based compensation expense​—​​—​—​​—​​20,718​​—​​—​20,718
Common stock issued upon exercise of stock options​153​​—​—​​—​​1,695​​—​​—​​1,695
Common stock issued upon vesting of restricted stock units​435​​1​—​​—​​(1)​​—​​—​​—
Treasury stock reissued upon settlement of equity awards​—​​—​(38)​​1,389​​(1,389)​​—​​—​​—
Net income​—​​—​—​​—​​—​​7,156​​—​7,156
Balance as of March 31, 2024​171,756​​172​32​​(1,146)​​899,354​​206,139​​(7,428)​​1,097,091
Foreign currency translation adjustment​—​​—​—​​—​​—​​—​​(1,814)​​(1,814)
Shares repurchased for settlement of employee tax withholdings​—​​—​30​​(660)​​—​​—​​—​​(660)
Stock-based compensation expense​—​​—​—​​—​​25,315​​—​​—​​25,315
Common stock issued under employee purchase plan​124​​—​—​​—​​1,914​​—​​—​​1,914
Common stock issued upon exercise of stock options​126​​—​—​​—​​870​​—​​—​​870
Common stock issued upon vesting of restricted stock units​628​​1​—​​—​​(1)​​—​​—​​—
Shares repurchased under the Repurchase Program​—​​—​1,369​​(25,027)​​—​​—​​—​​(25,027)
Treasury stock reissued upon settlement of equity awards​—​​—​(41)​​1,390​​(1,390)​​—​​—​​—
Net income​—​​—​—​​—​​—​​7,474​​—​​7,474
Balance as of June 30, 2024​172,634​​173​1,390​​(25,443)​​926,062​​213,613​​(9,242)​​1,105,163
Foreign currency translation adjustment​—​​—​—​​—​​—​​—​​9,079​​9,079
Shares repurchased for settlement of employee tax withholdings​—​​—​34​​(636)​​—​​—​​—​​(636)
Stock-based compensation expense​—​​—​—​​—​​23,474​​—​​—​​23,474
Common stock issued upon exercise of stock options​53​​—​—​​—​​324​​—​​—​​324
Common stock issued upon vesting of restricted stock units​601​​—​—​​—​​—​​—​​—​​—
Shares repurchased under the Repurchase Program​—​​—​1,254​​(25,025)​​—​​—​​—​​(25,025)
Treasury stock reissued upon settlement of equity awards​—​​—​(21)​​404​​(404)​​—​​—​​—
Net income​—​​—​—​​—​​—​​18,201​​—​​18,201
Balance as of September 30, 2024​173,288​$173​2,657​$(50,700)​$949,456​$231,814​$(163)​$1,130,580
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.