[Financial & Business Highlights](index=1&type=section&id=Financial%20%26%20Business%20Highlights) DoubleVerify reported strong Q2 2025 results with **21%** revenue growth to **$189.0 million**, driven by balanced segment and strategic wins [Q2 2025 Financial Performance](index=1&type=section&id=Q2%202025%20Financial%20Performance) Q2 2025 Key Financial Metrics (YoY Growth) | Metric | Q2 2025 Value | YoY Growth | | :--- | :--- | :--- | | **Total Revenue** | **$189.0M** | **21%** | | Activation Revenue | $108.9M | 25% | | Measurement Revenue | $62.9M | 15% | | Supply-Side Revenue | $17.2M | 26% | | Net Income | $8.8M | - | | Adjusted EBITDA | $57.3M | - | | Adj. EBITDA Margin | 30% | - | - Growth was driven by strong performance across all key vectors, including Social, CTV, and programmatic solutions, with significant contributions from existing customers adopting more products and expanding geographically[2](index=2&type=chunk) [Q2 2025 Business & Operational Highlights](index=2&type=section&id=Q2%202025%20Business%20%26%20Operational%20Highlights) - The company maintained a Gross Revenue Retention rate of over **95%** in the second quarter[6](index=6&type=chunk) - Secured several new enterprise customer wins, including Banco do Brasil, Emaar, Haribo, Lidl, Puma, Riyadh Air, Six Flags, and Tractor Supply[6](index=6&type=chunk) - Key strategic developments include expanded brand suitability measurement on Meta, introduction of DV Authentic AdVantage, launch of DV Authentic Attention® for Social on Snap, and partnership with Lyft for in-app ad authentication[6](index=6&type=chunk) [Financial Guidance](index=3&type=section&id=Financial%20Guidance) DoubleVerify raised full-year 2025 revenue growth guidance to **~15%** and reaffirmed a **32%** Adjusted EBITDA margin, providing Q3 outlook [Third Quarter 2025 Guidance](index=3&type=section&id=Third%20Quarter%202025%20Guidance) Q3 2025 Outlook | Metric | Guidance Range | Midpoint YoY Growth / Margin | | :--- | :--- | :--- | | Revenue | $188M - $192M | 12% | | Adjusted EBITDA | $60M - $64M | 33% Margin | [Full-Year 2025 Guidance](index=3&type=section&id=Full-Year%202025%20Guidance) Full-Year 2025 Outlook | Metric | Guidance | | :--- | :--- | | Revenue Growth | ~15% | | Adjusted EBITDA Margin | ~32% | [Consolidated Financial Statements (Unaudited)](index=5&type=section&id=Consolidated%20Financial%20Statements%20%28Unaudited%29) The unaudited financial statements detail the company's financial position, income, and cash flows for the period ending June 30, 2025 [Condensed Consolidated Balance Sheets](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Balance Sheet Summary (in thousands) | Account | June 30, 2025 | Dec 31, 2024 | | :--- | :--- | :--- | | Cash and cash equivalents | $211,784 | $292,820 | | Total Assets | $1,296,928 | $1,276,210 | | Total Liabilities | $206,913 | $192,751 | | Total Stockholders' Equity | $1,090,015 | $1,083,459 | [Condensed Consolidated Statements of Operations](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Income Statement Summary - Three Months Ended June 30 (in thousands) | Account | 2025 | 2024 | | :--- | :--- | :--- | | Revenue | $189,021 | $155,890 | | Income from operations | $13,548 | $11,049 | | Net income | $8,758 | $7,474 | | Diluted EPS | $0.05 | $0.04 | [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Cash Flow Summary - Six Months Ended June 30 (in thousands) | Activity | 2025 | 2024 | | :--- | :--- | :--- | | Net cash from Operating | $87,276 | $67,655 | | Net cash used in Investing | ($86,707) | ($95,495) | | Net cash used in Financing | ($86,044) | ($24,562) | | **Net decrease in cash** | **($80,928)** | **($53,252)** | - Significant cash outflows in the first six months of 2025 included **$82.6 million** for business acquisitions and **$82.2 million** for share repurchases[17](index=17&type=chunk) [Supplemental Financial Information](index=9&type=section&id=Supplemental%20Financial%20Information) This section provides detailed revenue breakdown by customer type and reconciles GAAP Net Income to Adjusted EBITDA for Q2 2025 [Revenue by Customer Type](index=9&type=section&id=Revenue%20by%20Customer%20Type) Q2 Revenue Breakdown & YoY Growth (in thousands) | Customer Type | Q2 2025 Revenue | Q2 2024 Revenue | YoY Growth % | | :--- | :--- | :--- | :--- | | Activation | $108,950 | $87,471 | 25% | | Measurement | $62,895 | $54,817 | 15% | | Supply-side | $17,176 | $13,602 | 26% | | **Total Revenue** | **$189,021** | **$155,890** | **21%** | [Adjusted EBITDA Reconciliation](index=9&type=section&id=Adjusted%20EBITDA%20Reconciliation) Reconciliation of Net Income to Adjusted EBITDA - Q2 (in thousands) | Line Item | Q2 2025 | Q2 2024 | | :--- | :--- | :--- | | **Net Income** | **$8,758** | **$7,474** | | Depreciation & Amortization | $14,697 | $11,004 | | Stock-based compensation | $27,007 | $24,715 | | Income tax expense | $6,452 | $5,406 | | Other adjustments | ($131) | ($2,065) | | **Adjusted EBITDA** | **$57,274** | **$46,767** | | Adjusted EBITDA Margin | 30% | 30% | [Key Definitions and Disclosures](index=4&type=section&id=Key%20Definitions%20and%20Disclosures) This section defines key business terms and includes standard forward-looking statement disclaimers outlining potential risks and uncertainties [Key Business Terms](index=4&type=section&id=Key%20Business%20Terms) - The report defines key operational and financial terms, including Activation revenue from programmatic/social platforms, Measurement revenue from direct ad buys, Supply-Side revenue from platforms/publishers, and Media Transactions Measured (MTM) volume[11](index=11&type=chunk)[12](index=12&type=chunk)[13](index=13&type=chunk) [Forward-Looking Statements](index=11&type=section&id=Forward-Looking%20Statements) - The press release contains forward-looking statements, including financial guidance, which are not guarantees of future performance and are subject to known and unknown risks and uncertainties[25](index=25&type=chunk) - Key risks cited include market competitiveness, technological developments, system failures, economic downturns, and data privacy regulations[25](index=25&type=chunk)[26](index=26&type=chunk)

Core Viewpoint - Dolly Varden Silver Corporation has expanded its 2025 drilling program from 35,000 meters to 55,000 meters, focusing on the Wolf vein extension and other exploration targets in the Kitsault Valley and Big Bulk Projects [1][2]. Drilling Program Expansion - The company has completed approximately 17,000 meters of drilling, prioritizing exploration targets at Moose, Chance, and Red Point Prospects [3]. - A fifth drill rig has been added to the project, with two rigs focused on the Wolf vein and two others at the Homestake Silver deposit [4]. Geological Work and Future Plans - The geological team has intensified fieldwork, including mapping and sampling of underexplored areas, covering a total of 100,000 hectares of prospective Hazelton formation rocks [5]. - This geological work aims to develop drill targets for late 2025 and 2026 exploration programs [5]. Drilling Strategy - The company is implementing a more precise drilling strategy by utilizing directional drilling, which allows for fewer total meters drilled while achieving the same number of mineralized intercepts [8]. - The estimated 55,000 meters includes re-drilled mother hole lengths, with actual new core expected to be around 41,000 meters [8]. Company Overview - Dolly Varden Silver Corporation is focused on advancing its 100% held Kitsault Valley Project, which includes the Dolly Varden and Homestake Ridge Projects, located in British Columbia's Golden Triangle [10][11]. - The Kitsault Valley Project is considered prospective for hosting further precious metal deposits and includes the Big Bulk property, which is prospective for copper and gold mineralization [11].

Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of DoubleVerify Holdings, Inc. regarding a class action lawsuit due to alleged misleading statements and failure to disclose critical information during the class period from November 10, 2023, to February 27, 2025 [1][3]. Allegations - Allegations include that DoubleVerify's customers shifted ad spending to closed platforms, limiting the company's technological capabilities and competing with tools from Meta Platforms and Amazon [3]. - The complaint states that the monetization of DoubleVerify's Activation Services was hindered by the high costs and time required for technology development for closed platforms [3]. - It is claimed that monetization of these services would take several years, and competitors were better positioned to integrate AI, negatively impacting DoubleVerify's competitiveness and profits [3]. - The company allegedly overbilled customers for ad impressions served to bots, and its risk disclosures were misleading, presenting adverse facts as mere possibilities [3]. - As a result, the positive statements made by the defendants regarding the company's business and prospects were deemed materially false or misleading [3]. Next Steps for Shareholders - Shareholders are encouraged to register for the class action by the deadline of July 21, 2025, to participate in the case without any cost or obligation [4]. - Registered shareholders will receive updates through a portfolio monitoring software throughout the lifecycle of the case [4]. Law Firm Background - The Gross Law Firm is recognized nationally for class action lawsuits, focusing on protecting investors from deceit and illegal business practices [5]. - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors who suffered losses due to misleading statements [5].

Core Viewpoint - Rosen Law Firm is reminding investors who purchased DoubleVerify Holdings, Inc. common stock during the specified Class Period of the upcoming lead plaintiff deadline on July 21, 2025 [1] Group 1: Class Action Details - Investors who purchased DoubleVerify common stock between November 10, 2023, and February 27, 2025, may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2] - A class action lawsuit has already been filed, and interested parties must move the Court to serve as lead plaintiff by July 21, 2025 [3] - Investors are encouraged to select qualified legal counsel with a successful track record in securities class actions [4] Group 2: Allegations Against DoubleVerify - The lawsuit alleges that DoubleVerify made false and misleading statements regarding its business operations, including the shift of customer ad spending to closed platforms where its capabilities were limited [5] - It is claimed that DoubleVerify's high-margin Activation Services faced significant challenges in monetization due to the high costs and time required for technology development on closed platforms [5] - The lawsuit also states that DoubleVerify systematically overbilled customers for ad impressions served to declared bots, and its risk disclosures were materially misleading [5]

Core Viewpoint - Rosen Law Firm is reminding investors who purchased DoubleVerify Holdings, Inc. common stock during the specified class period of the upcoming lead plaintiff deadline for a class action lawsuit [1][3]. Group 1: Class Action Details - Investors who bought DoubleVerify common stock between November 10, 2023, and February 27, 2025, may be eligible for compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - A class action lawsuit has already been filed, and interested parties must move the Court to serve as lead plaintiff by July 21, 2025 [3]. Group 2: Case Allegations - The lawsuit alleges that DoubleVerify made false and misleading statements regarding its business operations, including the shift of customers' ad spending to closed platforms where DoubleVerify's capabilities were limited [5]. - It is claimed that the development of technology for closed platforms was more expensive and time-consuming than disclosed, impacting the monetization of DoubleVerify's high-margin advertising optimization services [5]. - The lawsuit also states that DoubleVerify's competitors were better positioned to incorporate AI into their offerings, adversely affecting DoubleVerify's competitive edge and profits [5]. - Additional allegations include systematic overbilling of customers for ad impressions served to declared bots and misleading risk disclosures that characterized adverse facts as mere possibilities [5].

Core Viewpoint - Rosen Law Firm is reminding investors who purchased DoubleVerify Holdings, Inc. common stock during the specified class period of the upcoming lead plaintiff deadline for a class action lawsuit [1] Group 1: Class Action Details - Investors who bought DoubleVerify common stock between November 10, 2023, and February 27, 2025, may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2] - A class action lawsuit has already been filed, and interested parties must move the Court to serve as lead plaintiff by July 21, 2025 [3] - The Rosen Law Firm emphasizes the importance of selecting qualified legal counsel with a successful track record in securities class actions [4] Group 2: Allegations Against DoubleVerify - The lawsuit alleges that DoubleVerify made false and misleading statements regarding its business operations, including the shift of customers' ad spending to closed platforms where DoubleVerify's capabilities were limited [5] - It is claimed that DoubleVerify's ability to monetize its high-margin advertising optimization services was significantly hampered due to the high costs and time required for technology development for closed platforms [5] - The lawsuit also states that DoubleVerify systematically overbilled customers for ad impressions served to declared bots, and its risk disclosures were materially misleading [5]

Core Viewpoint - A class action securities lawsuit has been filed against DoubleVerify Holdings, Inc. alleging securities fraud affecting investors between November 10, 2023, and February 27, 2025 [1] Case Details - The lawsuit claims that DoubleVerify's customers are shifting ad spending from open exchanges to closed platforms, where the company's technological capabilities are limited and face competition from native tools of platforms like Meta and Amazon [2] - It is alleged that DoubleVerify's ability to monetize its Activation Services is constrained due to the high costs and time required for technology development for closed platforms [2] - The complaint states that monetization of DoubleVerify's Activation Services on certain closed platforms would take several years [2] - Competitors are reportedly better positioned to integrate AI into their offerings on closed platforms, negatively impacting DoubleVerify's competitive edge and profits [2] - The company is accused of systematically overbilling customers for ad impressions served to declared bots from known data center server farms [2] - The risk disclosures provided by DoubleVerify are claimed to be materially false and misleading, presenting adverse facts as mere possibilities [2] - As a result of these issues, the positive statements made by the defendants regarding the company's business and prospects are alleged to be materially false or misleading [2] Next Steps - Investors who suffered losses in DoubleVerify Holdings, Inc. during the specified timeframe have until July 21, 2025, to request appointment as lead plaintiff, although participation does not require serving in this role [3] - Class members may be entitled to compensation without any out-of-pocket costs or fees [3] Why Levi & Korsinsky - Levi & Korsinsky has a history of securing hundreds of millions of dollars for shareholders and has extensive expertise in complex securities litigation [4] - The firm has been recognized in ISS Securities Class Action Services' Top 50 Report for seven consecutive years as one of the leading securities litigation firms in the U.S. [4]

Core Viewpoint - A class action securities lawsuit has been filed against DoubleVerify Holdings, Inc. alleging securities fraud that negatively impacted investors between November 10, 2023, and February 27, 2025 [1][2]. Group 1: Allegations of Fraud - The lawsuit claims that DoubleVerify's customers shifted ad spending from open exchanges to closed platforms, where the company's technological capabilities were limited [2]. - It is alleged that the monetization of DoubleVerify's Activation Services was constrained due to the high costs and time required for technology development for closed platforms [2]. - The complaint states that DoubleVerify's competitors were better positioned to integrate AI into their offerings, which hindered DoubleVerify's competitive edge and profitability [2]. - The company is accused of systematically overbilling customers for ad impressions served to declared bots from known data center server farms [2]. - The risk disclosures provided by DoubleVerify were claimed to be materially false and misleading, presenting adverse facts as mere possibilities [2]. Group 2: Legal Process and Participation - Investors who suffered losses during the specified timeframe have until July 21, 2025, to request to be appointed as lead plaintiff in the lawsuit [3]. - Participation in the class action does not require serving as a lead plaintiff, and there are no out-of-pocket costs for class members [3]. Group 3: Firm Background - Levi & Korsinsky, LLP has a strong track record in securities litigation, having secured hundreds of millions of dollars for shareholders over the past 20 years [4]. - The firm has been recognized in ISS Securities Class Action Services' Top 50 Report for seven consecutive years as one of the leading securities litigation firms in the United States [4].

Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of DoubleVerify Holdings, Inc. regarding a class action lawsuit alleging misleading statements and failure to disclose critical information during the class period from November 10, 2023, to February 27, 2025 [1] Allegations - The complaint alleges that DoubleVerify's customers shifted ad spending from open exchanges to closed platforms, where the company's technological capabilities were limited [1] - It is claimed that DoubleVerify's ability to monetize its Activation Services was constrained due to the high costs and time required for technology development for closed platforms [1] - The lawsuit states that monetization of DoubleVerify's Activation Services on certain closed platforms would take several years [1] - Competitors were reportedly better positioned to integrate AI into their offerings on closed platforms, negatively impacting DoubleVerify's competitiveness and profits [1] - The company allegedly overbilled customers for ad impressions served to declared bots operating from known data center server farms [1] - Risk disclosures from DoubleVerify were claimed to be materially false and misleading, presenting adverse facts as mere possibilities [1] - As a result of these issues, the positive statements made by the defendants regarding the company's business and prospects were deemed materially false or misleading [1] Next Steps for Shareholders - Shareholders who purchased shares of DoubleVerify during the specified timeframe are encouraged to register for the class action by July 21, 2025, to participate in potential recovery [2] - Registered shareholders will be enrolled in a portfolio monitoring software to receive updates throughout the case lifecycle [2]

Core Viewpoint - Rosen Law Firm is reminding investors who purchased DoubleVerify Holdings, Inc. common stock during the specified class period of the upcoming lead plaintiff deadline for a class action lawsuit [1][3]. Group 1: Class Action Details - Investors who bought DoubleVerify common stock between November 10, 2023, and February 27, 2025, may be eligible for compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - A class action lawsuit has already been filed, and those wishing to serve as lead plaintiff must act by July 21, 2025 [3]. Group 2: Case Allegations - The lawsuit alleges that DoubleVerify made false and misleading statements regarding its business operations, including the shift of ad spending from open exchanges to closed platforms, which limited its technological capabilities [5]. - It is claimed that DoubleVerify's ability to monetize its high-margin advertising optimization services was significantly hampered due to the high costs and time required for technology development for closed platforms [5]. - The lawsuit also states that DoubleVerify's competitors were better positioned to integrate AI into their offerings, negatively impacting DoubleVerify's competitive edge and profitability [5]. - Additional allegations include systematic overbilling of customers for ad impressions served to declared bots and misleading risk disclosures that characterized adverse facts as mere possibilities [5].