DoubleVerify (DV) Goldman Sachs Communacopia + Technology Conference 2024 summary

Business overview and current focus

• Provides protection and performance solutions for digital advertisers, ensuring ads are fraud-free, viewable, and brand safe across open web and social platforms.

• Shifted focus from just protection to performance, aiming to improve ROI for clients using data-driven insights.

• Maintains double-digit top-line growth and 30%+ margins for several years.

Macro environment and outlook

• Sentiment is cautiously optimistic for the second half of 2024, with some advertisers pausing due to high CPMs and election-related content.

• Too early to predict 2025 trends; advertisers' decisions will depend on upcoming macro events.

• A cohort of six major advertisers is reducing spend due to company-specific issues, but this is not affecting the broader client base.

Growth drivers and verticals

• CPG vertical, excluding the challenged cohort, is showing strength, with new opportunities as verification expands to more channels.

• Social platforms, especially Meta, YouTube, and TikTok, are key growth areas, with recent launches of brand safety tools driving new client adoption.

• Connected TV (CTV) and retail media networks are emerging opportunities, with CTV impressions up 55% and retail media growing rapidly, especially via Amazon.