Companies · measurement verification

DoubleVerify

Sell sideDV

DoubleVerify brought in $750M of revenue in fiscal 2025, growing 25% a year over five years at an 11% operating margin.

$750Mrevenue, FY2025

+25%growth a year, 5 years

11%operating margin

Revenue and margin

Bars: revenue, $B (10-K). Line: operating margin.

What they told investors

“And third, we are digging into the massive potential ad market on LLM chatbots where many of our current advertisers are beginning to deploy their marketing dollars, yet have had little in the way of transparency and independent measurement.”Mark Zagorski · 2026 Q1 · transcript

“This is a problem we estimate impacts roughly 15% of CTV impressions and waste over $1 billion of media spend each quarter, eroding trust as well as ROI.”Mark Zagorski · 2025 Q3 · transcript

“On TikTok, we expanded our video exclusion list by 100x, significantly enhancing advertisers' ability to proactively avoid unsuitable content and reducing their rate of unsuitable content by 1/3.”Mark Zagorski · 2025 Q3 · transcript

“We already work with nearly half of the world's top 1,000 advertisers, yet our revenue contribution represents less than 0.5% of their total media spend, demonstrating the significant runway for growth within our existing customer base.”Mark S. Zagorski · 2024 Q4 · transcript

“it plays out our evolutionary story of being an end-to-end measurement solution that also addresses performance and outcomes”Mark S. Zagorski · 2024 Q4 · transcript

What they see in the market

What its leaders and filings say about the ad market: its own ad business, or the channels advertisers use, since 2019; counts are statements, not spending.

Programmatic & display 314× since 2021Connected TV & streaming 109× since 2021Paid social 101× since 2021Measurement 57× since 2021AI in marketing 45× since 2022Retail media 25× since 2022Influencers & creators 2× since 2024Creative campaigns 1× since 2022

Programmatic & display “Advertisers can purchase our solutions through programmatic, social media and CTV platforms to evaluate the quality and optimize the efficiency of ad inventories before they are purchased, which we track as Activation revenue.” 10-Q · Aug 7, 2026 · source
Connected TV & streaming · AI in marketing “The solid results this quarter were fueled by our core growth catalysts: social activation and measurement products, streaming TV verification, and our dynamic suite of solutions that empower advertisers to better navigate the evolving ecosystem of AI advertising platforms and…” Mark Zagorski on the earnings call · May 6, 2026 · source
Paid social “AI Slop Stopper for social, we have expanded our capability for advertisers to avoid low-quality AI-generated content on YouTube and will broaden our coverage to other walled gardens in the coming quarters.” Mark Zagorski on the earnings call · May 6, 2026 · source
Measurement “As has been the case for the open web, mobile, streaming, and social environments, unbiased independent measurement will play a key role in engendering the advertiser trust needed for this new ecosystem to thrive.” Mark Zagorski on the earnings call · May 6, 2026 · source
Retail media “Supply-side revenue grew 25% year over year by adding new CTV and digital platform partnerships and through continued expansion on retail media networks, with DV tags now accepted across 152 retail media networks, including 18 major platforms and 134 retailers globally.” Nicola Allais on the earnings call · Feb 26, 2026 · source