DoubleVerify Holdings Inc

For the period ended Mar 31, 2024. Filed May 7, 2024.

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.

Mar 31, 2024 · Filed May 7, 2024

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

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Contents

Part IFINANCIAL INFORMATION

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)


· As of · As of
(in thousands, except per share data) · · March 31, 2024 · · December 31, 2023
Assets: · ·
Current assets · ·
Cash and cash equivalents	$302,017	$310,131
Short-term investments	32,312	—
Trade receivables, net of allowances for doubtful accounts of $9,580 and $9,442 as of March 31, 2024 and December 31, 2023, respectively	195,638	206,941
Prepaid expenses and other current assets	20,356	15,930
Total current assets	550,323	533,002
Property, plant and equipment, net	60,851	58,020
Operating lease right-of-use assets, net	64,910	60,470
Goodwill	432,865	436,008
Intangible assets, net	132,815	140,883
Deferred tax assets	16,619	13,077
Other non-current assets	1,810	1,571
Total assets	$1,260,193	$1,243,031
Liabilities and Stockholders' Equity:
Current liabilities
Trade payables	$12,761	$12,932
Accrued expenses	34,218	44,264
Operating lease liabilities, current	9,844	9,029
Income tax liabilities	6,064	5,833
Current portion of finance lease obligations	2,640	2,934
Other current liabilities	9,841	8,863
Total current liabilities	75,368	83,855
Operating lease liabilities, non-current	75,124	71,563
Finance lease obligations	2,344	2,865
Deferred tax liabilities	7,514	8,119
Other non-current liabilities	2,752	2,690
Total liabilities	163,102	169,092
Commitments and contingencies (Note 14)
Stockholders’ equity
Common stock, $0.001 par value, 1,000,000 shares authorized, 171,756 shares issued and 171,724 outstanding as of March 31, 2024; 1,000,000 shares authorized, 171,168 shares issued and 171,146 outstanding as of December 31, 2023	172	171
Additional paid-in capital	899,354	878,331
Treasury stock, at cost, 32 shares and 22 shares as of March 31, 2024 and December 31, 2023, respectively	(1,146)	(743)
Retained earnings	206,139	198,983
Accumulated other comprehensive loss, net of income taxes	(7,428)	(2,803)
Total stockholders’ equity	1,097,091	1,073,939
Total liabilities and stockholders' equity	$1,260,193	$1,243,031

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (UNAUDITED)

· · · · · ·
· · Three Months Ended March 31,
(in thousands, except per share data) · 2024 · 2023
Revenue	$140,782	$122,594
Cost of revenue (exclusive of depreciation and amortization shown separately below)	26,618	23,952
Product development	36,394	28,555
Sales, marketing and customer support	37,872	25,712
General and administrative	22,075	20,188
Depreciation and amortization	10,928	8,983
Income from operations	6,895	15,204
Interest expense	232	256
Other income, net	(2,272)	(2,734)
Income before income taxes	8,935	17,682
Income tax expense	1,779	5,507
Net income	$7,156	$12,175
Earnings per share:
Basic	$0.04	$0.07
Diluted	$0.04	$0.07
Weighted-average common stock outstanding:
Basic	171,306	165,631
Diluted	176,124	171,657
Comprehensive income:
Net income	$7,156	$12,175
Other comprehensive (loss) income:
Foreign currency cumulative translation adjustment	(4,625)	1,193
Total comprehensive income	$2,531	$13,368

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