DV on NYSE
DoubleVerify Holdings, Inc.
We are one of the industry’s leading media effectiveness platforms that leverages artificial intelligence (“AI”) to drive superior outcomes for global brands.3 From its latest annual report
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Last updated Oct 19, 2026.
Overview
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- TickerDV on NYSE1
- IndustryServices-Computer Programming, Data Processing, Etc.1
- HeadquartersNew York, New York1
- Incorporated inDE2
- Business address462 Broadway, New York, Ny 100132
- Filer categoryLarge accelerated filer2
- Legal formCorporation
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We are one of the industry’s leading media effectiveness platforms that leverages artificial intelligence (“AI”) to drive superior outcomes for global brands. By creating more effective, transparent ad transactions, we make the digital advertising ecosystem stronger, safer and more secure, thereby preserving the fair value exchange between buyers and sellers of digital media. As the global digital advertising market has evolved, we have continued to expand our capabilities since our founding in 2008 through new product innovation and partnerships across emerging programmatic media buying platforms and digital media channels, including social and CTV.3 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
10.6%Operating margin4
6.8%Net margin4
13.9%Revenue growth, 20254
4.5%Return on equity4
$172.7MFree cash flow4
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue18¢$133.5M
- Research and development24¢$178.4M
- Other costs47¢$351.9M
- Interest0¢$1.7M
- Income tax4¢$32.1M
- Profit7¢$50.6M
Out of $748.3M in revenue.4
Where each dollar of operating cash went, fiscal 2025
- Capital spending18¢$38.5M
- Share buybacks63¢$132.3M
- Kept or used elsewhere19¢$40.3M
Out of $211.2M of cash from operations.4
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.4
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Revenue | $748.3M | $656.8M | $572.5M |
| Cost of revenue (exclusive of depreciation and amortization shown separately below) | $133.5M | $116.5M | $106.6M |
| Product development | $178.4M | $153.0M | $125.4M |
| Sales, marketing and customer support | $190.8M | $167.5M | $126.0M |
| General and administrative | $109.7M | $92.1M | $88.0M |
| Depreciation and amortization | $56.6M | $45.2M | $40.9M |
| Income from operations | $79.2M | $82.4M | $85.7M |
| Interest expense | $1.7M | $1.1M | $1.1M |
| Other income, net | -$5.2M | -$7.5M | -$11.2M |
| Income before income taxes | $82.7M | $88.8M | $95.9M |
| Income tax expense | $32.1M | $32.6M | $24.4M |
| Net income | $50.6M | $56.2M | $71.5M |
| Basic | $0.31 | $0.33 | $0.43 |
| Diluted | $0.30 | $0.32 | $0.41 |
| Basic | 162.8M shares | 170.5M shares | 167.8M shares |
| Diluted | 166.7M shares | 175.1M shares | 173.4M shares |
| Foreign currency cumulative translation adjustment | $28.0M | -$11.9M | $3.5M |
| Total comprehensive income | $78.7M | $44.3M | $75.0M |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.4
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $259.0M | $292.8M | $310.1M | |
| Short-term investments | $17.8M | |||
| Trade receivables, net of allowances for doubtful accounts of $8,096 and $9,003 as of December 31, 2025 and December 31, 2024, respectively | $221.2M | $226.2M | ||
| Prepaid expenses and other current assets | $39.1M | $22.2M | ||
| Total current assets | $519.3M | $559.1M | ||
| Property, plant and equipment, net | $103.3M | $70.2M | ||
| Operating lease right-of-use assets, net | $66.9M | $67.7M | ||
| Goodwill | $516.0M | $427.6M | $436.0M | |
| Intangible assets, net | $101.6M | $110.4M | ||
| Deferred tax assets | $30.9M | $35.5M | ||
| Other non-current assets | $16.0M | $5.8M | ||
| Total assets | $1.4B | $1.3B | ||
| Trade payables | $14.7M | $11.6M | ||
| Accrued expense | $73.6M | $54.5M | ||
| Operating lease liabilities, current | $9.1M | $11.0M | ||
| Income tax liabilities | $3.8M | $15.6M | ||
| Current portion of finance lease obligations | $7.0M | $2.5M | ||
| Other current liabilities | $13.5M | $8.2M | ||
| Total current liabilities | $121.6M | $103.5M | ||
| Operating lease liabilities, non-current | $77.9M | $77.3M | ||
| Finance lease obligations | $5.6M | $812.0K | ||
| Deferred tax liabilities | $11.5M | $8.5M | ||
| Other non-current liabilities | $6.2M | $2.7M | ||
| Total liabilities | $222.8M | $192.8M | ||
| Common stock, $0.001 par value, 1,000,000 shares authorized, 176,546 shares issued and 161,900 outstanding as of December 31, 2025; 1,000,000 shares authorized, 174,003 shares issued and 167,069 outstanding as of December 31, 2024 | $177.0K | $174.0K | ||
| Additional paid-in capital | $1.1B | $974.4M | ||
| Treasury stock, at cost, 14,646 shares and 6,934 shares as of December 31, 2025 and December 31, 2024, respectively | -$248.0M | -$131.6M | ||
| Retained earnings | $305.9M | $255.2M | ||
| Accumulated other comprehensive income (loss), net of income taxes | $13.3M | -$14.7M | ||
| Total stockholders' equity | $1.1B | $1.1B | $1.1B | $876.9M |
| Total liabilities and stockholders' equity | $1.4B | $1.3B | ||
| Trade receivables, net of allowances | $8.1M | $9.0M | ||
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | ||
| Common stock, shares authorized | 1.0B shares | 1.0B shares | ||
| Common stock, shares issued | 176.5M shares | 174.0M shares | ||
| Common stock, shares outstanding | 161.9M shares | 167.1M shares | ||
| Treasury stock, shares | 14.6M shares | 6.9M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $259.0M | $292.8M | $310.1M | |
| Short-term investments | $17.8M | |||
| Trade receivables, net of allowances for doubtful accounts of $8,096 and $9,003 as of December 31, 2025 and December 31, 2024, respectively | $221.2M | $226.2M | ||
| Prepaid expenses and other current assets | $39.1M | $22.2M | ||
| Total current assets | $519.3M | $559.1M | ||
| Property, plant and equipment, net | $103.3M | $70.2M | ||
| Operating lease right-of-use assets, net | $66.9M | $67.7M | ||
| Goodwill | $516.0M | $427.6M | $436.0M | |
| Intangible assets, net | $101.6M | $110.4M | ||
| Deferred tax assets | $30.9M | $35.5M | ||
| Other non-current assets | $16.0M | $5.8M | ||
| Total assets | $1.4B | $1.3B | ||
| Trade payables | $14.7M | $11.6M | ||
| Accrued expense | $73.6M | $54.5M | ||
| Operating lease liabilities, current | $9.1M | $11.0M | ||
| Income tax liabilities | $3.8M | $15.6M | ||
| Current portion of finance lease obligations | $7.0M | $2.5M | ||
| Other current liabilities | $13.5M | $8.2M | ||
| Total current liabilities | $121.6M | $103.5M | ||
| Operating lease liabilities, non-current | $77.9M | $77.3M | ||
| Finance lease obligations | $5.6M | $812.0K | ||
| Deferred tax liabilities | $11.5M | $8.5M | ||
| Other non-current liabilities | $6.2M | $2.7M | ||
| Total liabilities | $222.8M | $192.8M | ||
| Common stock, $0.001 par value, 1,000,000 shares authorized, 176,546 shares issued and 161,900 outstanding as of December 31, 2025; 1,000,000 shares authorized, 174,003 shares issued and 167,069 outstanding as of December 31, 2024 | $177.0K | $174.0K | ||
| Additional paid-in capital | $1.1B | $974.4M | ||
| Treasury stock, at cost, 14,646 shares and 6,934 shares as of December 31, 2025 and December 31, 2024, respectively | -$248.0M | -$131.6M | ||
| Retained earnings | $305.9M | $255.2M | ||
| Accumulated other comprehensive income (loss), net of income taxes | $13.3M | -$14.7M | ||
| Total stockholders' equity | $1.1B | $1.1B | $1.1B | $876.9M |
| Total liabilities and stockholders' equity | $1.4B | $1.3B | ||
| Trade receivables, net of allowances | $8.1M | $9.0M | ||
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | ||
| Common stock, shares authorized | 1.0B shares | 1.0B shares | ||
| Common stock, shares issued | 176.5M shares | 174.0M shares | ||
| Common stock, shares outstanding | 161.9M shares | 167.1M shares | ||
| Treasury stock, shares | 14.6M shares | 6.9M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.4
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income | $50.6M | $56.2M | $71.5M |
| Bad debt expense | $3.2M | $5.0M | $10.1M |
| Depreciation and amortization expense | $56.6M | $45.2M | $40.9M |
| Amortization of debt issuance costs | $434.0K | $442.0K | $294.0K |
| Non-cash lease expense | $7.9M | $7.2M | $6.7M |
| Deferred taxes | $3.8M | -$21.7M | -$25.0M |
| Stock-based compensation expense | $104.2M | $90.7M | $59.2M |
| Interest expense, net | $293.0K | $60.0K | $68.0K |
| Loss on disposal of fixed assets | $101.0K | $5.0K | |
| Change in fair value of contingent consideration | -$1.2M | ||
| Other | $992.0K | $3.3M | $492.0K |
| Trade receivables | $6.5M | -$26.7M | -$43.7M |
| Prepaid expenses and other assets | -$19.3M | -$11.4M | -$5.6M |
| Trade payables | $2.3M | -$1.1M | $5.5M |
| Accrued expenses and other liabilities | -$6.5M | $12.3M | $530.0K |
| Net cash provided by operating activities | $211.2M | $159.7M | $119.7M |
| Purchase of property, plant and equipment | -$38.5M | -$27.1M | -$17.0M |
| Acquisition of businesses, net of cash acquired | -$82.6M | -$67.2M | |
| Purchase of short-term investments | -$99.6M | ||
| Proceeds from maturity of short-term investments | $17.8M | $81.9M | |
| Other investing activities | -$2.0M | ||
| Net cash used in investing activities | -$105.4M | -$44.8M | -$84.2M |
| Proceeds from revolving credit facility | $50.0M | ||
| Payments to revolving credit facility | -$50.0M | ||
| Proceeds from common stock issued upon exercise of stock options | $886.0K | $3.3M | $10.7M |
| Proceeds from common stock issued under employee purchase plan | $2.5M | $3.5M | $2.7M |
| Finance lease payments | -$4.6M | -$2.5M | -$2.3M |
| Shares repurchased under the Repurchase Program and New Repurchase Program | -$132.3M | -$128.0M | |
| Payment of excise tax on shares repurchased | -$668.0K | ||
| Shares repurchased for settlement of employee tax withholdings | -$9.8M | -$5.8M | -$4.6M |
| Net cash (used in) provided by financing activities | -$143.9M | -$129.4M | $6.5M |
| Effect of exchange rate changes on cash and cash equivalents and restricted cash | $4.4M | -$1.9M | $338.0K |
| Net (decrease) increase in cash, cash equivalents, and restricted cash | -$33.7M | -$16.5M | $42.3M |
| Cash paid for interest | $1.2M | $479.0K | $714.0K |
| Right-of-use assets obtained in exchange for new operating lease liabilities, net of impairments and tenant improvement allowances | $5.5M | $14.1M | $2.5M |
| Acquisition of equipment under finance lease | $13.8M | $5.5M | |
| Capital assets financed by accounts payable and accrued expenses | $99.0K | $6.0K | $261.0K |
| Stock-based compensation included in capitalized software development costs | $4.6M | $2.1M | $1.1M |
| Accrued excise tax on net share repurchases | $884.0K | $668.0K | |
| Common stock issued in connection with acquisition | $52.9M | ||
| Liabilities for contingent consideration | $1.2M |
No quarter-by-quarter statement was filed.
Leadership
Who has led DoubleVerify Holdings, Inc., and when. Pick a name to see everywhere that person has worked.
Chief executive
Chief financial officer
Chief operating officer
2025
- Chief executive officerMark Zagorski Apr 20, 2021 to now11
- Chief financial officerNicola T. Allais Apr 20, 2021 to now12
- Chief operating officerMatthew F. McLaughlin Apr 20, 2021 to Mar 25, 202213
Board members and other officers (15)
- Global Chief Comm. OfficerSteven John Mougis Jan 8, 2026 to now14
- Global Chief Comm. OfficerJulie Eddleman Apr 20, 2021 to now15
- Board memberJennifer Storms Jun 4, 2025 to now16
- Board memberGary Swidler Feb 22, 2024 to now17
- Board memberSundeep Jain Jul 6, 2022 to now18
- Board memberJoshua L. Selip Apr 20, 2021 to Apr 20, 202119
- Board memberKelli Turner Apr 20, 2021 to now20
- Board memberLaura Desmond Apr 20, 2021 to now21
- Board memberLucy Stamell Dobrin Apr 20, 2021 to now22
- Board memberMark Zagorski Apr 20, 2021 to now11
- Board memberRobert Davis Noell Apr 20, 2021 to now23
- Board memberTeri List Apr 20, 2021 to Jun 7, 202324
- Board memberRosario C. Perez Oct 8, 2021 to now25
- Board memberScott Wagner Oct 8, 2021 to now26
- General counselAndrew E. Grimmig Apr 20, 2021 to now27
Named in SEC Form D filings
People the company listed in its private-offering notices.
Timeline
- Apr 20, 2021New chief executive Mark Zagorski becomes CEO11
Filings
584 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 47 major events, 385 insider forms, 26 large holders, 1 private raises, 105 other. The latest 20:
- Oct 2, 20264 PRIMARY DOCUMENT EDGAR
- Sep 29, 2026DEFM14A EDGAR
- Sep 17, 20264 PRIMARY DOCUMENT EDGAR
- Sep 17, 20264 PRIMARY DOCUMENT EDGAR
- Sep 17, 20264 PRIMARY DOCUMENT EDGAR
- Sep 17, 20264 PRIMARY DOCUMENT EDGAR
- Sep 11, 2026PREM14A EDGAR
- Aug 25, 2026DEFA14A EDGAR
- Aug 14, 2026SCHEDULE 13G EDGAR
- Aug 13, 2026SCHEDULE 13G/A EDGAR
- Aug 10, 2026DEFA14A EDGAR
- Aug 10, 20268-K EDGAR
- Aug 7, 2026DEFA14A EDGAR
- Aug 7, 20268-K/A EDGAR
- Aug 7, 2026DEFA14A EDGAR
- Aug 7, 202610-Q EDGAR
- Aug 6, 2026DEFA14A EDGAR
- Aug 6, 2026DEFA14A EDGAR
- Aug 6, 20268-K EDGAR
- Aug 6, 20268-K EDGAR
The 584 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
242 open-market trades by officers, directors and large owners since October 2021: 10 buys and 232 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Mar 2, 2026 | Grimmig Andrew EChief Legal Officer | Sale | 1,000 | $10.31 | $10.3K | Form 4 |
| Feb 2, 2026 | Grimmig Andrew EChief Legal Officer | Sale | 1,000 | $10.71 | $10.7K | Form 4 |
| Jan 2, 2026 | Grimmig Andrew EChief Legal Officer | Sale | 1,000 | $11.49 | $11.5K | Form 4 |
| Dec 16, 2025 | Grimmig Andrew EChief Legal Officer | Sale | 3,096 | $10.81 | $33.5K | Form 4 |
| Dec 1, 2025 | Grimmig Andrew EChief Legal Officer | Sale | 1,000 | $10.46 | $10.5K | Form 4 |
| Nov 3, 2025 | Grimmig Andrew EChief Legal Officer | Sale | 1,000 | $11.30 | $11.3K | Form 4 |
| Oct 1, 2025 | Grimmig Andrew EChief Legal Officer | Sale | 1,000 | $11.88 | $11.9K | Form 4 |
| Sep 17, 2025 | Grimmig Andrew EChief Legal Officer | Sale | 4,096 | $12.99 | $53.2K | Form 4 |
| Sep 9, 2025 | Dobrin Lucy StamellDirector | Sale | 6,392 | $14.51 | $92.7K | Form 4 |
| Sep 9, 2025 | Tisdale Andrew A10% owner | Sale | 36,145 | $14.51 | $524.5K | Form 4 |
| May 31, 2025 | Eddleman JulieGlobal Chief Comm. Officer | Buy | 1,096 | $11.68 | $12.8K | Form 4 |
| May 31, 2025 | Zagorski MarkChief Executive Officer | Buy | 1,141 | $11.68 | $13.3K | Form 4 |
| Feb 11, 2025 | Allais Nicola TChief Financial Officer | Sale | 2,220 | $22.34 | $49.6K | Form 4 |
| Feb 10, 2025 | Allais Nicola TChief Financial Officer | Sale | 2,220 | $21.91 | $48.6K | Form 4 |
| Feb 4, 2025 | Allais Nicola TChief Financial Officer | Sale | 2,220 | $21.61 | $48.0K | Form 4 |
| Feb 3, 2025 | Allais Nicola TChief Financial Officer | Sale | 11,802 | $21.40 | $252.6K | Form 4 |
| Dec 18, 2024 | Allais Nicola TChief Financial Officer | Sale | 2,071 | $20.51 | $42.5K | Form 4 |
| Dec 17, 2024 | Allais Nicola TChief Financial Officer | Sale | 1,667 | $20.06 | $33.4K | Form 4 |
| Dec 10, 2024 | Allais Nicola TChief Financial Officer | Sale | 2,220 | $20.44 | $45.4K | Form 4 |
| Dec 9, 2024 | Allais Nicola TChief Financial Officer | Sale | 2,220 | $20.41 | $45.3K | Form 4 |
All 242 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- DISCIPLINED GROWTH INVESTORS INC /MNSCHEDULE 13G, 1 filing Aug 14, 202629
- AQR CAPITAL MANAGEMENT LLCSCHEDULE 13G/A, 2 filings May 15, 2026 to Aug 13, 202630
- VANGUARD PORTFOLIO MANAGEMENT LLCSCHEDULE 13G, 1 filing Jul 31, 202631
- BlackRockSCHEDULE 13G/A, 4 filings Feb 5, 2025 to Jul 28, 202632
- VANGUARD GROUP INCSCHEDULE 13G/A, 4 filings Feb 13, 2024 to Mar 26, 202633
- Topline Capital Management, LLCSCHEDULE 13G, 1 filing Feb 13, 202634
- Providence VII U.S. Holdings L.P.SCHEDULE 13G/A, 4 filings Feb 14, 2022 to Nov 12, 202535
- Blumberg Capital II, L. P.SC 13G/A, 2 filings Feb 14, 2022 to Feb 14, 202336
- TIGER GLOBAL MANAGEMENT LLCSC 13G/A, 2 filings Feb 14, 2022 to Feb 14, 202337
- FMR LLCSC 13G/A, 2 filings Feb 9, 2022 to Feb 9, 202338
Money raised
Private offerings the company reported to the SEC on Form D.
- Jan 1, 2022Filed a private offering of securities Form D: 5 investors so far Form D
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| BlackRock, Inc. | 23,152,508 | $251.0M | 0.0% | +3,799,956 |
| Providence Equity Partners L.L.C. | 18,341,574 | $198.8M | 60.4% | +50,666 |
| Disciplined Growth Investors Inc /mn | 9,689,140 | $105.0M | 1.8% | +5,781,039 |
| Vanguard Portfolio Management LLC | 8,941,574 | $96.9M | 0.0% | +1,385,698 |
| Aqr Capital Management LLC | 7,784,565 | $83.4M | 0.0% | −3,894,678 |
| Vanguard Capital Management LLC | 5,914,956 | $64.1M | 0.0% | −470,154 |
| Dimensional Fund Advisors LP | 5,395,095 | $58.5M | 0.0% | +1,061,540 |
| State Street Corp | 5,375,150 | $58.3M | 0.0% | +1,014,027 |
| Geode Capital Management, LLC | 3,437,366 | $37.3M | 0.0% | +953,036 |
| Topline Capital Management, LLC | 3,214,515 | $34.8M | 9.0% | −1,808,377 |
| Morgan Stanley | 3,121,729 | $33.8M | 0.0% | −49,929 |
| Fort Washington Investment Advisors Inc /oh/ | 3,043,279 | $33.0M | 0.2% | +838,517 |
| First Trust Advisors LP | 3,029,025 | $32.8M | 0.0% | +1,767,626 |
| Bank Of America Corp /de/ | 2,890,533 | $31.3M | 0.0% | +1,178,852 |
| Assenagon Asset Management S.A. | 2,740,056 | $29.7M | 0.0% | +168,676 |
| Jupiter Asset Management Ltd | 2,392,052 | $25.9M | 0.1% | +1,685,492 |
| First Eagle Investment Management, LLC | 2,320,000 | $25.1M | 0.0% | +1,685,000 |
| Ameriprise Financial Inc | 2,202,317 | $23.9M | 0.0% | −27,868 |
| Goldman Sachs Group Inc | 2,017,401 | $21.9M | 0.0% | +976,413 |
| Private Management Group Inc | 1,770,130 | $19.2M | 0.5% | −17,813 |
| Zwj Investment Counsel Inc | 1,692,176 | $18.3M | 0.6% | +62,608 |
| Northern Trust Corp | 1,689,719 | $18.3M | 0.0% | +630,067 |
| Two Sigma Investments, LP | 1,458,525 | $15.8M | 0.0% | +902,114 |
| Bnp Paribas Financial Markets | 1,431,182 | $15.5M | 0.0% | −301,010 |
| Fmr LLC | 1,294,427 | $14.0M | 0.0% | +910,821 |
13F reports cover disclosed long positions in U.S. stocks only.
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 16SEC EDGARJennifer Storms, Board member
- 17SEC EDGARGary Swidler, Board member
- 18SEC EDGARSundeep Jain, Board member
- 19SEC EDGARJoshua L. Selip, Board member
- 20SEC EDGARKelli Turner, Board member
- 21SEC EDGARLaura Desmond, Board member
- 22SEC EDGARLucy Stamell Dobrin, Board member
- 23SEC EDGARRobert Davis Noell, Board member
- 24SEC EDGARTeri List, Board member
- 25SEC EDGARRosario C. Perez, Board member
- 26SEC EDGARScott Wagner, Board member
- 27SEC EDGARAndrew E. Grimmig, General counsel
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