DoubleVerify Holdings Inc

For the period ended Jun 30, 2024. Filed Jul 30, 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.

Jun 30, 2024 · Filed Jul 30, 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) · · June 30, 2024 · · December 31, 2023
Assets: · ·
Current assets · ·
Cash and cash equivalents	$256,066	$310,131
Short-term investments	82,754	—
Trade receivables, net of allowances for doubtful accounts of $9,564 and $9,442 as of June 30, 2024 and December 31, 2023, respectively	187,761	206,941
Prepaid expenses and other current assets	32,977	15,930
Total current assets	559,558	533,002
Property, plant and equipment, net	64,521	58,020
Operating lease right-of-use assets, net	66,155	60,470
Goodwill	431,496	436,008
Intangible assets, net	125,420	140,883
Deferred tax assets	23,766	13,077
Other non-current assets	1,727	1,571
Total assets	$1,272,643	$1,243,031
Liabilities and Stockholders' Equity:
Current liabilities
Trade payables	$10,604	$12,932
Accrued expenses	44,136	44,264
Operating lease liabilities, current	10,113	9,029
Income tax liabilities	832	5,833
Current portion of finance lease obligations	2,393	2,934
Other current liabilities	11,447	8,863
Total current liabilities	79,525	83,855
Operating lease liabilities, non-current	76,265	71,563
Finance lease obligations	1,844	2,865
Deferred tax liabilities	7,031	8,119
Other non-current liabilities	2,815	2,690
Total liabilities	167,480	169,092
Commitments and contingencies (Note 15)
Stockholders’ equity
Common stock, $0.001 par value, 1,000,000 shares authorized, 172,634 shares issued and 171,244 outstanding as of June 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	926,062	878,331
Treasury stock, at cost, 1,390 shares and 22 shares as of June 30, 2024 and December 31, 2023, respectively	(25,443)	(743)
Retained earnings	213,613	198,983
Accumulated other comprehensive loss, net of income taxes	(9,242)	(2,803)
Total stockholders’ equity	1,105,163	1,073,939
Total liabilities and stockholders' equity	$1,272,643	$1,243,031

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (UNAUDITED)

· · · · · · · · · · · ·
· · Three Months Ended June 30, · · Six Months Ended June 30,
(in thousands, except per share data) · 2024 · 2023 · 2024 · 2023
Revenue	$155,890	$133,744	$296,672	$256,338
Cost of revenue (exclusive of depreciation and amortization shown separately below)	26,102	26,191	52,720	50,143
Product development	39,806	31,941	76,200	60,496
Sales, marketing and customer support	44,863	31,537	82,735	57,249
General and administrative	23,066	19,755	45,141	39,943
Depreciation and amortization	11,004	9,676	21,932	18,659
Income from operations	11,049	14,644	17,944	29,848
Interest expense	233	247	465	503
Other income, net	(2,064)	(2,476)	(4,336)	(5,210)
Income before income taxes	12,880	16,873	21,815	34,555
Income tax expense	5,406	4,034	7,185	9,541
Net income	$7,474	$12,839	$14,630	$25,014
Earnings per share:
Basic	$0.04	$0.08	$0.09	$0.15
Diluted	$0.04	$0.07	$0.08	$0.15
Weighted-average common stock outstanding:
Basic	171,628	166,540	171,467	166,088
Diluted	175,961	172,488	176,850	172,129
Comprehensive income:
Net income	$7,474	$12,839	$14,630	$25,014
Other comprehensive (loss) income:
Foreign currency cumulative translation adjustment	(1,814)	(377)	(6,439)	816
Total comprehensive income	$5,660	$12,462	$8,191	$25,830

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.