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DoubleVerify Holdings Inc

For the period ended Dec 31, 2023. Filed Feb 28, 2024.

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About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 28, 2024

DV$13.56+0.1%Stored close · as of Nov 6, 2026
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Contents

Special Note About Forward-Looking Statements

This Annual Report on Form 10-K contains 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”). Some of the forward-looking statements can be identified by the use of forward-looking terms such as “believes,” “expects,” “may,” “will,” “shall,” “should,” “would,” “could,” “seeks,” “aims,” “projects,” “intends,” “plans,” “estimates,” “anticipates” or other comparable terms. Forward-looking statements include, without limitation, all matters that are not historical facts. They appear in a number of places throughout this Annual Report on Form 10-K and include, without limitation, statements regarding our intentions, beliefs, assumptions or current expectations concerning, among other things, our financial position; results of operations; industry outlook; and growth strategies or expectations.

Forward-looking statements are subject to known and unknown risks and uncertainties, many of which may be beyond our control. We caution you that forward-looking statements are not guarantees of future performance or outcomes and that actual performance and outcomes, including, without limitation, our actual results of operations, financial condition and liquidity, and the development of the market in which we operate, may differ materially from those made in or suggested by the forward-looking statements contained in this Annual Report on Form 10-K. In addition, even if our results of operations, financial condition and cash flows, and the development of the market in which we operate, are consistent with the forward-looking statements contained in this Annual Report on Form 10-K, those results or developments may not be indicative of results or developments in subsequent periods. A number of important factors, including, without limitation, the risks and uncertainties discussed under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in this Annual Report on Form 10-K could cause actual results and outcomes to differ materially from those reflected in the forward-looking statements. These factors include, without limitation:

•our ability to respond to technological developments and evolving industry standards, which may make our solutions obsolete or less competitive;

our ability to compete in our highly competitive market;

our ability to retain existing customers, obtain new customers and generate revenue from new customers;

•system failures, security breaches, cyberattacks or natural disasters that could interrupt the operation of our platform and data centers;
•our reliance on demand- and supply-side advertising platforms, ad servers and social platforms to accept and integrate with our technology;
•economic downturns and unstable market conditions;

our ability to integrate businesses acquired;

•acquired businesses may disrupt our business, expose us to unanticipated liabilities, dilute stockholder value or divert management attention;

our ability to accurately and timely collect payments from our customers and integration partners;

defects, errors or inaccuracies associated with our solutions;

•our long sales cycles, which can result in significant time between initial contact with a prospect and execution of a contractual agreement, making it difficult to project when, if at all, we will generate revenue from new customers;
•our ability to retain our senior management team and other key personnel and to hire additional qualified personnel;
•scrutiny of our environmental, social and governance practices and meeting our stakeholders’ evolving expectations relating to such practices;
•the application, interpretation, and enforcement of data privacy legislation and regulation on digital advertising and privacy and data protection;
•the impact of public criticism of digital advertising technology on our business, including digital advertising on social media platforms;
•the assertion of third-party intellectual property rights against us and our ability to protect and enforce our intellectual property rights;

our use of artificial intelligence and machine learning models;

our ability to manage our business and conduct our operations internationally;

our exposure to foreign currency exchange rate fluctuations;

•our use of “open source” software could subject our technology to general release, require us to re-engineer our platform or subject us to litigation;

seasonal fluctuations in advertising activity;

our limited operating history, which makes it difficult to evaluate our business and prospects;

•adverse developments in the tax laws and regulations, or disagreements with our tax positions, in the multiple jurisdictions in which we are subject to taxation;

adverse developments affecting financial institutions;

our estimates of market opportunity and forecasts of market growth may prove to be inaccurate;

impairment of goodwill or other intangible and long-lived assets;

restrictions contained in the New Revolving Credit Facility (as defined herein);

our potential need for future additional financing that may not be available or may reduce our profitability;

future sales of shares by us or our existing stockholders;

•lack of research or misleading or unfavorable research published about our business by securities or industry analysts;

the significant influence over us by funds affiliated with Providence Equity Partners L.L.C. (“Providence”);

future offerings of debt or equity securities that would rank senior to our common stock;

our ability to maintain an effective system of internal controls;

•our ability to fulfill our obligations incident to being a public company, including compliance with the Exchange Act and the requirements of the NYSE, the Sarbanes-Oxley Act and the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”); and

the possibility of being subject to securities class action litigation due to future stock price volatility.

You should read this Annual Report on Form 10-K completely and with the understanding that actual future results may be materially different from expectations. All forward-looking statements made in this Annual Report on Form 10-K are qualified by these cautionary statements. These forward-looking statements are made only as of the date of this Annual Report on Form 10-K, and we do not undertake any obligation, other than as may be required by law, to update or revise any forward-looking or cautionary statements to reflect changes in assumptions, the occurrence of events, unanticipated or otherwise, and changes in future operating results over time or otherwise.

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.