DoubleVerify Holdings Inc at Citi TMT Conference Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Ron Josey - Citi - Analyst : But let's just start maybe bigger picture. I think this has been a year turned by the team as a year of transition. And it's hard to say a year of transition when revenue accelerates. So the transitioning seems to be going well. Multiple new products are coming to market here. We're integrating AI, the acquisitions you've made more recently with Scibids and Rockerbox, new products. So talk to us about this transition. And then more importantly, as we emerge from the transition year, like how do we think about going forward?

Question: Ron Josey - Citi - Analyst : Verify optimize prove, but we're also moving up the stack, if I'm not mistaken, so performance or understanding that. Talk to us a little bit more about how that sort of changed the purview or changed the scope a little bit?

Question: Ron Josey - Citi - Analyst : That's very helpful. That's -- we'll get into a lot of that. I want to talk, given the year of transition, Nicola, bringing you into this on revenue visibility. We've had some volatility over the last year, 2 years -- 1.5 years, 2 years or so. Just talk about the visibility going forward. I think existing advertisers are adopting more products, which we will get in the product side, but also a third of the growth is coming from newer advertisers. So help us understand the visibility as a CFO.

Question: Ron Josey - Citi - Analyst : Got it. So the new products are a key theme, I think. And so before -- and so I want to talk about AI as we think about the year of transition. And so look, the media landscape is transitioning. Mark, you and I have talked about this for years, but then for some time. And so consumer behavior, platform, everything is shifting here. But also DV has been, I think, ahead of the curve from an acquisition perspective and integrating. So talk to us about how embedding AI across your tools has maybe changed the discussions with your clients?

Question: Ron Josey - Citi - Analyst : That's great. That's super helpful. Let's maybe take it back a step and building on what Nicola, you just talked about how 3Q is very back end or September heavy. I want to talk about macro. We raised guidance, I think, for 3Q and 4Q just on sort of maybe that client spend momentum that we've been talking about. But the macroeconomic, it's still a little uncertain, tariff headwinds, and we talked about CPG and retail. And so as we sit here today, any pockets to call out CTV, social media or verticals that might be improving or anything to highlight there? And of course, I've got to ask about back-to-school. Here we are.

Question: Ron Josey - Citi - Analyst : So let's talk about CTV and social then because I think there's -- we've had discussions with everyone in the industry, a little bit of -- I won't know fear of missing out might not be the right way to say it, but there's a lot of competition in there. And if a brand is spending, if a brand is not spending, your competition is to a certain extent. And so I wanted to understand that dynamic in light of uncertainty or spending through sort of any insights on that?

Question: Ron Josey - Citi - Analyst : Mark, how has that changed over the past couple of years? So 10 years ago, we were on stage, are we talking about brand performance as it -- or now it's more than ever because of social and CTV?

Question: Ron Josey - Citi - Analyst : Yeah. That's a great segue into -- let's talk about the investments the business has been doing and like the newer products that are coming out. And so the Media AdVantage Platform or MAP that's come out. I think it was a key launch that came out earlier this year. Just talk to us about how MAP adds the value prop and how your conversations --

Question: Ron Josey - Citi - Analyst : And that's a different sales motion?

Question: Ron Josey - Citi - Analyst : And so now --

Question: Ron Josey - Citi - Analyst : And so we just talked about MAP and how that's changing or evolving the strategy and the sales motion and the product. Authentic AdVantage, I think, is launching shortly or launched. End of this month, that's exciting. Just talked about -- I think it's live on YouTube, you mentioned that earlier, but then there's also opportunity in other platforms. Talk to us about Authentic AdVantage and what that brings? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. SEPTEMBER 05, 2025 / 1:30PM, DV.N - DoubleVerify Holdings Inc at Citi TMT Conference

Question: Ron Josey - Citi - Analyst : And so leveraging that a little bit is somewhat different, but maybe similar to Meta pre-bid?

Question: Ron Josey - Citi - Analyst : That's the beauty of newer products. You always have new things to add that can --

Question: Ron Josey - Citi - Analyst : Exactly. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. SEPTEMBER 05, 2025 / 1:30PM, DV.N - DoubleVerify Holdings Inc at Citi TMT Conference

Question: Ron Josey - Citi - Analyst : So we mentioned or we called out social and CTV sort of must haves. You have to be there. Let's talk about social specifically. I think social measurement revs were up mid-teens maybe in 2Q and Meta is becoming a bigger and bigger part of the business. Would love to hear your thoughts on just how these social platforms are evolving on DoubleVerify?

Question: Ron Josey - Citi - Analyst : And so we just brought up CTV under-index, right? Impressions were up 45%, I believe. So it's among the fastest-growing mediums that are out there, at least on DoubleVerify and overall. Just like -- so how do we get over -- regularly indexed? Is that the right way to say it, I don't know, on both social and CTV?

Question: Ron Josey - Citi - Analyst : In terms of how CTV is bought and sold, you and I have talked about in the past, is it audience? Do we get the show level data from a CTV perspective? How do you see the broader industry evolving here? And that's question one on CTV. And then question two, you mentioned working with the two largest CPG companies, technology companies and I'm missing the third one that you mentioned. But how are their views evolving from a CTV perspective?

Question: Ron Josey - Citi - Analyst : And I said two largest software. I can't -- I think I forgot to say two largest CPG companies, two largest tech companies. And so the list goes on. We have a few minutes left. Are there any questions in the audience? Of course, I can keep going. But I don't know, is there a mic that -- or maybe you can say and we can repeat it up here. Unidentified Participant Yeah. Just curious whether you could talk about the alternatives that your clients have for achieving the same results that they would get from your new bundled offerings and whether they can achieve that anywhere else? Or are you opening some daylight between you and the competition?

Question: Ron Josey - Citi - Analyst : That's awfully compelling. That's the goal.

Question: Ron Josey - Citi - Analyst : We are out of -- well, we've got 15 seconds. Nicola, I'm going to come to you very quickly. Just talk to us about balance between growth and profitability given all the new products coming out here plus the profitability side?

Question: Ron Josey - Citi - Analyst : I couldn't have asked for a more concise answer.

Question: Ron Josey - Citi - Analyst : Thank you very much, Mark and Nicola. Thank you very much.