DoubleVerify Holdings Inc at RBC Capital Markets Global Technology, Internet, Media & Telecommunications Conference Transcript

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

Question: Matthew Swanson - RBC Capital Markets Inc - Analyst : Heading into 2025, big investment year for DoubleVerify is what we were talking about all through last Q4. I mean, looking back at the year, what are the achievements that were maybe the most impactful to the future of the company? And how did you feel like you're leaving this year better positioned in the current environment than where you entered?

Question: Matthew Swanson - RBC Capital Markets Inc - Analyst : So Nicola, heading into 2025, you talked about at least 10% revenue growth. Most recently, you guided the full-year number to 14%. What went better than expected? Obviously, we just talked about this being a year that we were focused on the investment side. But we're now seeing some other momentum building into 2026 that has shown up in numbers.

Question: Matthew Swanson - RBC Capital Markets Inc - Analyst : Yeah. No, that's helpful. I mean, maybe building out on that, can you kind of give us an idea of how revenue visibility has changed over these past few years? And maybe how your guidance philosophy has adapted to that?

Question: Matthew Swanson - RBC Capital Markets Inc - Analyst : Yeah. And that kind of builds naturally into this next question. So Nicola, looking out to next year, you gave us kind of, I would call like, a foundational baseline growth rate of 10%. Can you give us kind of what gives you confidence around that core number? And then maybe what are some of the levers or layers that may come in over top of that?

Question: Matthew Swanson - RBC Capital Markets Inc - Analyst : I guess maybe thinking about those new products, Mark, you've expanded the product portfolio following this year of investment, but we've seen traditionally the majority of revenue came from the install base. So how do your customers influence your product roadmap? And what do you think they're currently looking for or want more of from DV?

Question: Matthew Swanson - RBC Capital Markets Inc - Analyst : I know. I've been trying to keep up. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. NOVEMBER 18, 2025 / 2:20PM, DV.N - DoubleVerify Holdings Inc at RBC Capital Markets Global Technology, Internet, Media & Telecommunications Conference

Question: Matthew Swanson - RBC Capital Markets Inc - Analyst : And maybe this will stitch together a few of the things we talked about with social and CTV. But you recently said over the medium term, expanding social, CTV, and AI from under 30% of revenue to over 50%. And could you just talk, I guess, about the investments you have to make to make that a reality? And then I guess the benefits DoubleVerify could see, maybe two things like that revenue visibility that we talked about over time.

Question: Matthew Swanson - RBC Capital Markets Inc - Analyst : Yeah. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. NOVEMBER 18, 2025 / 2:20PM, DV.N - DoubleVerify Holdings Inc at RBC Capital Markets Global Technology, Internet, Media & Telecommunications Conference

Question: Matthew Swanson - RBC Capital Markets Inc - Analyst : Yeah, that's super interesting. And I think we've seen when these newer disruptive formats or companies come out, they do lean quicker into DoubleVerify than maybe the first. We saw how much faster TikTok adopted you guys, let you in relative to Meta, because you actually bring them validity.

Question: Matthew Swanson - RBC Capital Markets Inc - Analyst : Speaking to one of those opportunities that's become a little more tangible here, the DV Authentic AdVantage. You said you closed an $8 million ACV deal in the first few weeks. Can you help size the opportunity into Q4 and next year and how we should think about the potential ramp given some of the bundling strategies?

Question: Matthew Swanson - RBC Capital Markets Inc - Analyst : Another piece that I feel like comes up every year is the partnership with Meta is always in focus. Could you just talk about -- especially with some of the new products moving into pre-bid, how things are tracking versus expectations? And then when you think you'll start to see maybe kind of that inflection point from a growth perspective?

Question: Matthew Swanson - RBC Capital Markets Inc - Analyst : And then, Nicola, not to ever oversimplify this, but MTM and MTF, the two variable models for driving your revenue, looking out to 2026, how should we think about each of these? And then what should we keep into consideration looking at those growth rates?

Question: Matthew Swanson - RBC Capital Markets Inc - Analyst : When we think about competition, there's clearly been some changes in the pure play landscape over the last couple of years, one potential and then one obviously we've spent quite a bit of time talking about. When you expand your product portfolio, how should we think about the way that you compete for dollars? As you get more into performance, is it a new slew of competitors that you're aimed at? Or is it more just we compete with ourselves around ROAS and the dollars will follow?

Question: Matthew Swanson - RBC Capital Markets Inc - Analyst : That's great. We could have gone a lot longer. I completely forgot to open it up for questions. So I apologize to anyone in the room who had some. But DoubleVerify, thank you guys so much for spending the morning with us. Thank you.