DoubleVerify at JPMorgan Conference: Strategic Shift Beyond Verification

On Wednesday, 14 May 2025, DoubleVerify Holdings Inc (NYSE:DV) participated in the 53rd Annual JPMorgan Global Technology, Media and Communications Conference. The company showcased its robust first-quarter performance, marked by a 17% revenue growth, while also addressing macroeconomic uncertainties. DoubleVerify is evolving from its core verification services to focus on performance measurement and optimization, despite choosing not to update its full-year guidance.

Key Takeaways

• DoubleVerify reported a 17% increase in Q1 revenue, driven by premium solutions and new customer acquisitions.
• The company is expanding its focus beyond verification to performance measurement with recent acquisitions.
• AI technology is being utilized to combat fraud and enhance internal processes.
• Despite economic uncertainties, DoubleVerify remains optimistic due to its diversified offerings and strong data capabilities.
• The Meta activation solution, launched in February, is expected to generate significant revenue over the next 1-2 years.

Financial Results

• Q1 revenue increased by 17%, with ABS (Authentic Brand Suitability) showing strong growth.
• Despite positive trends, full-year guidance remains unchanged due to macroeconomic uncertainties.
• Measured transaction fees decreased by 4% in 2024.
• Media transactions measured grew by 19% last year, while Q1 volume increased by 22%.

Operational Updates

• Activation solutions on Meta were launched in February, closing 20 new accounts, including 8 top 100 customers.
• The Meta product is priced 2-3 times higher than measurement products, with a potential $100 million revenue opportunity.
• New customers like Microsoft and Kellogg have adopted premium solutions such as ABS.
• The acquisitions of SciBids and RockerBox totaled approximately $200 million, with SciBids targeting $100 million in revenue by 2028.

Future Outlook

• DoubleVerify is transitioning from a verification specialist to a performance and analytics provider.
• The company aims to expand its Total Addressable Market by moving into performance-based solutions.
• AI is being used to address challenges like AI-generated content and fraud, with 20-30% of internal code now AI-generated.
• An upcoming innovation day will focus on enhancing DoubleVerify’s role as an essential performance platform.

Q&A Highlights

• Vertical diversification helps mitigate risks from industry-specific downturns.
• Advertisers are becoming more agile and performance-oriented due to economic shocks.
• DoubleVerify’s competitive advantages include scale, breadth of offerings, and unique performance solutions.

For more detailed insights, refer to the full transcript provided below.

Full transcript - 53rd Annual JPMorgan Global Technology, Media and Communications Conference:

Mark Murphy, Head of Software Research, JPMorgan: Okay. Good afternoon everyone. I am Mark Murphy, head of software research with JPMorgan. Great pleasure to be here with Mark Zagorski who is CEO of Double Verify and Nicola Alais who is CFO of the company. So first off, welcome to the conference and thank you so much.

It’s great privilege and thank you for making the trip.

Mark Zagorski, CEO, Double Verify: Of course, of course, thanks.

Mark Murphy, Head of Software Research, JPMorgan: Do you want to give a quick one liner mark perhaps just for the benefit of anyone out there, think people know what Double Verify is, but just in case we have anyone that isn’t fully familiar.

Mark Zagorski, CEO, Double Verify: Sure. Double Verify is an ad platform that enables advertisers to determine whether or not their ad spend in the digital media universe is viewable, is brand safe, is aligned to the right geography and is the transaction is fraud free. We basically look at ourselves as an independent arbiter of digital media quality.

Mark Murphy, Head of Software Research, JPMorgan: Okay, so let me begin with the dynamics behind your Q1. I think it was one of the best positive surprises that we had this entire earnings season. And when I zoom out a little bit, I think back, revenue had been growing in the 20s right during 2023. It dropped to kind of a 10 to 15% range. Last year you had had this cohort, you had a cohort of a handful of customers that they themselves were struggling with their own business.

And then now we have this improvement, and again, pretty big positive surprise where you showed 17% growth Q1. Can I ask you just at a high level, what do you think improved for the business during Q1? And I think we’re all sort of wondering why would that have happened? The headlines have obviously been very volatile around the trade and tariff, But business confidence was presumably in a kind of a worse place, right? In February and March we would have fought than where it was in November and December.

Mark Zagorski, CEO, Double Verify: Yeah, as you noted we had a good quarter in Q1. Some of our premium price solutions like ABS grew at the best rate that they had since 2023. And across the board, we saw strong customer adoption of new solutions as well as good scaling of current customers. And I think that those growth levers, so a, core customers scaling on new products and new customers scaling up faster, is a testament to the things that we can control. We can’t control the macro, we can’t control discussions around tariffs, but we can control adding new customers and adding new products and upselling those products to our customers.

We leaned very heavily into both of those things in Q1. We delivered better than expected results and the fact that we were able to launch new products with new customers. So we had folks like KenView and Microsoft take on some of our biggest and most important solutions last quarter and scale up current customers across new solutions. So people like Lilly and Novartis who extended their spend. So again we saw good core growth, good new product growth, and good new customer growth and that helped us deliver a better than expected quarter.

Mark Murphy, Head of Software Research, JPMorgan: In social, that’s something to us that it has had fits and starts. It certainly holds a lot of promise. How would you sum up that the Q1 performance if we said customers adopting social activation on Meta? What was was something was there any difference in kind of the lagging indicators, the leading indicators, the the the vibes you were seeing from customers?

Mark Zagorski, CEO, Double Verify: Yes. So think of think of our business on social as having, you know, two aspects, the same way it does in open web. We have a post bid or measurement business on social, and then a newly emerging activation business on social. We just launched activation solutions on Meta in February, which have gotten really good traction since that launch. We’ve closed 20 new customers, eight of them are top 100 customer of ours, so big brand names have started to scale.

So we see social as a big opportunity for us. Right now, on the social side Meta does around $40,000,000 of measurement revenue with us. The Meta activation product that we launched is priced anywhere from two to three times what we charge for measurement. So if you just would say, hey, let’s take half of our current customers using Meta and upsell them this current solution, you’re looking at a 40 to $60,000,000 opportunity just for activation and which makes Meta a hundred million dollar opportunity for us, know, over the next year or two. So, you know, we look at social as a growth vector for us.

You know, one of the reasons why it’s been a smaller part of our business than the open web part of our business is that we haven’t had the same balance of solutions there. In the open web, have what we call measurement solutions where we determine the quality of the media after it’s been purchased, but we have activation solutions which filter out impressions that don’t align to those quality standards. We just started launching those activation solutions on social now, so we have a balanced portfolio of tools, which I think gives us a lot of runway in social to continue to grow and drive that business.

Mark Murphy, Head of Software Research, JPMorgan: And I missed one comment you made there Mark. The 20 new accounts you closed on, that was on meta

Mark Zagorski, CEO, Double Verify: On

Mark Murphy, Head of Software Research, JPMorgan: And that was since when? Since February. That’s since February. Okay.

Mark Zagorski, CEO, Double Verify: They still have to scale and they’re still relatively new, but you know folks like Nike, AARP, others, know relatively big brands and big spenders.

Mark Murphy, Head of Software Research, JPMorgan: And then when you mentioned you were talking about I think Kenview and Microsoft, but also more broadly you were talking about rapid scaling by new customers. What to see that in a Q1, can you it’s hard for me to I think externally to understand what are they scaling more rapidly and why? Can you give any insight into that?

Mark Zagorski, CEO, Double Verify: Yes. So some of those customers like, you know, Microsoft, Kellogg, we closed mid to late last year and started them off with a core set of solutions, but we were able to upsell them premium solutions and in this case our authentic brand is suitability or ABS solution. So they implemented those solutions and started driving volume through them pretty quickly. KenView was a late twenty twenty four close, but we did a ton of legwork to get them up and ready and launched on January 1. So they also adopted a premium solutions and started scaling them faster.

So, what we were able to do is upsell quicker than we expected, implement quicker, and it was based on a lot of leg work and sales work that allowed us to convert those folks better than we expected.

Mark Murphy, Head of Software Research, JPMorgan: So it was kind of internal execution more than the external customer pacing or is it kind of dependent

Mark Zagorski, CEO, Double Verify: on both? A little bit of both.

Mark Murphy, Head of Software Research, JPMorgan: Yeah, okay. And then, Nicola, there was also this comment that the business momentum remained steady through April. You had said that on the earnings call. But then you did not elect to pass through the Q1 upside to the full year. That’s been very common across our coverage.

Think it’s a wise move. Do you think that that is buying you does that buy you a little cushion to maybe kind of observe any macroeconomic softness that you haven’t seen yet in the back half of the year? I know it’s hard to know, but Yeah. We

Nicola Alais, CFO, Double Verify: chose not to change guidance which as you said, we’re not the only company who did that. Yeah. But we did see consistent outperformance in January, February, March, April and then even now into May. So the choice of not changing guidance is offset by the fact that the trends are actually quite positive in the first quarter going into the second quarter. If you look at what that implies for the second half is growth rates that are low compared to what we’ve seen in past experience.

But as you said, it just buys us time to see how the macro is going to impact the business.

Mark Murphy, Head of Software Research, JPMorgan: Yeah, okay. Great to hear that in your words. Coming back again, and I think trying to zoom out a little on the, as you know, I’m not really an advertising industry expert, but we just when when you go through a period like this, we have just so much stock market volatility, the headline, you know, a new tweet can kinda change the narrative over the weekend.

Unidentified speaker: For sure.

Mark Murphy, Head of Software Research, JPMorgan: Or between the morning and the afternoon. And then we did see a bunch of you know sensitive industries that had that had pre announcements or you know clearly had issues, the airlines, retailers, energy. In in like, you know, I think it’s a pretty good bet that you’re doing you’re doing business with all these industries. Yep. What do you think is gonna determine whether they pull back on advertising spend this year or kind of stay the course?

Mark Zagorski, CEO, Double Verify: Yeah. It’s it’s it’s a great question. And you know, let let me slice into a couple pieces. The first is, nice part about our business is that we’re pretty well diversified across different verticals. Right?

So the ones that are expected or we’re really worried about getting hit like auto for example is only around 6% of our total revenue. Vertical diversification is a positive and we lean into that. When it comes into advertising though, I think we’re dealing with advertisers and marketers who’ve gone through multiple shocks over the last five years. So this is nothing new to them. They had COVID, they had supply chain issues.

And I think what that’s done, it’s made them less trigger happy. They become incredibly agile right? In the fact that they know they can pull spend pretty easily in and out when they need to, but also they become very performance oriented. And what they’ve learned over the last couple shocks has been, if you don’t spend, you don’t sell. And every advertiser has become a performance advertiser.

And I think the platforms to their credit, the folks like Meta and Google and others have really trained them to feel like if you’re not putting a dollar into our platform, you’re not going to sell product. And we’ve shown you the relationship between point a and point b, better than I think they we’ve ever seen in the ad industry. So there’s not this immediate knee jerk reaction to say, okay, times are getting bad, I’m gonna pull because I still have to sell product. And if I do need to pull, like there are no longer upfront commitments that are either binary, I need to spend or not spend. The programmatic universe in which we exist in on the activation side of our business is very fluid.

You can turn buys on and off Yeah. On an hourly basis, a daily basis. So interestingly enough, we did not see much fluctuation in that at all. And you would expect like, oh, announcement comes out, programmatic goes down. It’s not.

And I think because of the tie between the ability to spend and the measurement against performance. It doesn’t mean that ultimately at some point if there’s a drastic market change and we’re into a massive recession that the overall pie may not shrink. Yep. But ultimately advertisers have become a a bit more resilient and two, a bit more focused on performance and spend connection to performance.

Mark Murphy, Head of Software Research, JPMorgan: Okay. So what you see in terms of the activities in your dashboard is not as volatile as what we see in the

Mark Zagorski, CEO, Double Verify: No.

Mark Murphy, Head of Software Research, JPMorgan: In the stock market for the reasons you described. Do you think then, I mean is it fair to say they’re going to look as they digest all the headlines and whatever each of your brands is expecting for the year, Are they going to look at the verification piece as a must have type of insurance for them this year?

Mark Zagorski, CEO, Double Verify: So I mean one of the things that we’ve been doing as a company is evolving from this idea of not just protecting spend, but helping spend perform.

Mark Murphy, Head of Software Research, JPMorgan: Yep.

Mark Zagorski, CEO, Double Verify: And, you know, a big part of our narrative is, when you take garbage out of the system, right, what’s left performs better. Right? Ads that are not seen by bots don’t sell products. Ads that are fraudulent don’t sell products. Ads that are sent to content that’s not suitable or aligned with my brand don’t sell products.

So a, we look at the essential nature of our core solution as being focused on pulling garbage out, which makes what’s left better. On top of that, we’ve invested in direct performance solutions like our SciBids AI tool, which is a bidding algorithm that allows advertisers to compress the cost of their media by finding better impressions that meet their quality criteria at a lower price. And then most recently we bought a company called RockerBox, which closes the loop, shows what’s work. So if you think about how our business has changed in the last two years, we went from core media quality, is getting garbage out of the system, to measuring media quality, finding that quality cheaper through SciBiz AI, and now determining whether or not that impression actually sold something. So that entire closed loop means that we are approaching customers differently and selling them a value prop that goes beyond just being essential, it becomes being desirable, because I can actually show what’s moving the needle, and to me as a CMO, that’s critically important.

What is working? And I need to know what that is.

Mark Murphy, Head of Software Research, JPMorgan: Okay. And I wanna I wanna come back to the performance vector Sure. Including SciBids and RockerBox. I wanna do that in in maybe about five minutes. Can I can I ask you first about, Nikola, about some of the price and volume trends?

When we look at the excuse me. When we look at the media transactions measured or which we think of as the volume part of the equation, it grew 19% last year. The measured transaction fee or the price, right, was it fell about 4%. And so I think our simplistic view of it is then, well, what happened is you had advertisers that scanning a lot more of the impressions. They’re doing that through Double Verify, and then the unit cost kinda came down a little.

Can you unpack that unit pricing trend? Because I think there’s a difference in whether there’s a scenario where it’s mix shift and there’s a scenario where it is kind of like for like. And I think we’re operating under the notion it’s really the first thing, the former is happening not the latter. Is that correct? Is that correct and how do we know?

Nicola Alais, CFO, Double Verify: Yeah, is absolutely that which is the change in price is a function of changing product mix and changing geographies most and foremost. As more volume comes from say outside of The United States where the CPMs are generally lower than in The U. S. That commands a lower price for the product. The price per product is remaining stable.

It’s just that the mix is shifting towards the area that are growing faster for us. Specifically about 2024, we also had the Moat wins. Moat wins came it was a very aggressive, very compressed timeline to win those deals as Moat shut down in the third quarter. And so those deals were acquired at introductory fees for introductory price for introductory product. So it was a basic product that commanded a basic price.

We’re actually already in the motion of upselling those clients to our higher paid products, which will impact the overall fee over time. But the answer to your question, it is a mix and geography product.

Mark Murphy, Head of Software Research, JPMorgan: Are you able to speak, should we assume that that general kind of change in direction continues? I know you’ve got, it sounds like Mood might be a downward drag and then somewhere improving, but geo mix and the other product mix, should we kind of pencil in the same thing?

Nicola Alais, CFO, Double Verify: Well, you look back two years in ’23, fees went up 3%. In 2024, they went down 4%. The reason why you could expect rates to go up is because our premium price products are being up sold into the base, right? So, the social activation product for example is a premium price products two to three times more expensive than the measurement product. So as that gets deeper into our base, you will see a positive impact on price.

But again, it’s our the volume that we measure in Q1 went up 22%. Yeah. Right, versus 40% in Q4 twenty four. There is more volume that we’re seeing and we’re able to upsell more products onto the same impression which is our motion, We’re growing with volume and the price, the effect of price is essentially an output of where the growth is coming.

Mark Zagorski, CEO, Double Verify: Yeah, it’s a good thing to think about is, think of it, if we bring a customer in in our introductory product, it’s it’s layer one. And what we want to do is start stacking products on that same impression, right? So if we bring a whole bunch of new customers in, you’re gonna see volume go up. And price may actually become slightly depressed because they’re coming in at a base rate. But then over time we’re gonna sell them ABS and we’re gonna sell them activation for social.

And then you’re gonna see that dollar per impression number actually increase as we stack these solutions on top of each other for the same impression.

Mark Murphy, Head of Software Research, JPMorgan: Okay, understood. Well said. You know, wanna I wanna spend a moment as well on even if it’s a bit in the in the rearview mirror, but the the idiosyncratic behavior that you saw in this group of six customers was happening last year. Then I think more recently you have the one that is reducing, I think it’s social spend, Because of their, they had an increase in the commodity cost.

Mark Zagorski, CEO, Double Verify: Spend across the board.

Mark Murphy, Head of Software Research, JPMorgan: Across the board spend, okay. So there was this isolated behavior. It didn’t seem like it was kind of contaminating into other customers. It seemed like it was kind of ring fenced off. Has that settled down?

You know, or do you think, you know, and kind of going along with that, is there any risk of it, you know, in this kind of backdrop where you have the threat of a trade war at some level, we don’t know at what level, Is there risk of running into other companies that are seeing something similar?

Mark Zagorski, CEO, Double Verify: Yeah, mean look we we those challenges were specific to those customers that did not spread which you know we did not expect them to. And you know what it really forced us to look at last year was ensuring that we have a broadly diversified top 20 to top 30 group of customers, and we did lean on bringing new customers in to fill that base out. So folks like Microsoft and KenView and others to make sure that we’re not overly concentrated, so we respond to that well. But then also to look at ensuring that we’re very close with those customers and that we understand where their spend is and that we make ourselves totally essential to them. So we can’t control their ad spend, right?

If they have challenging times and they need to spend less, we can’t control that. What we can control is what we sell, right? And who we sell. So new products, scaling new products with our current customers, and bringing new customers in. And we did a really bang up job of that at the end of last year, so we closed folks like Google, and Microsoft, and Kenview, and BlackRock, and Charter, all new customers that have joined us.

And then they’re starting to fill in that top 20 so that we’re diversified across that group of customers moving forward.

Mark Murphy, Head of Software Research, JPMorgan: Okay, understood. Those are some big logos, as always. I want to go back to this whole thought around performance.

Mark Zagorski, CEO, Double Verify: We

Mark Murphy, Head of Software Research, JPMorgan: think back on Double Verify as being primarily verification specialist. The companies would think of DoubleVerify and they’d say, okay, brand safety and fraud prevention, keeping it very simplistically. And then you’re kind of pushing beyond verification. You’re going into performance and analytics. And I think the so rather than just kind of measuring what happened, like how do you affect had talked about this before.

It’s the seat belt and then you want to become like the navigation system and that whole analogy. What’s the investment significance of it and how do you operationalize it? Because I don’t know to what extent do we want to boil it down to SciBids and RockerBox versus something that is pretty big and overarching.

Mark Zagorski, CEO, Double Verify: Yeah, mean the thesis behind it is quite large, which is again, not only protecting spend, helping be the independent objective arbiter of helping advertisers understand if that spent worked and doing the most do it in the most efficient way possible. We’ve done that through a combination of acquisitions, so you mentioned CyBids which we did a little bit over a year and a half ago, and RockerBox which we just closed recently. And the idea behind that is again, it all starts with core media quality, getting garbage out of the system. But if we can work with advertisers to make sure what they’re buying and the quality they’re buying is actually cheaper and most efficient, and then ultimately tell them what worked and didn’t work. It’s a very different value proposition than anybody else in our space because we stay outside of the media transactions, so we still don’t compete with the DSPs of the world or the media platforms of the world, but we help all of those solutions perform better.

And we answer the two questions that CMOs have all the time and that keep them up at night and that risks their job, which is I want to ensure that my brand is protected because we’ve invested in it over time. And I want to make sure my CFO does not fire me for wasting ad dollars on things that don’t sell products. We can now close the loop on that. So we’ve done that again inorganically through acquisitions, through two acquisitions that in total cost us around $200,000,000 And through organic products that we’ve built and advanced, so things like attention metrics which show engagement. And through connecting our SciBids tools into our quality tools.

So the idea here is a cohesive solution set that advertisers look at from end to end and saying, can protect brand, I can understand performance. And the interesting thing about that is we are now selling them together. So for example, we’re able to show a brand the amount of dollars that you push through SciBids, our optimization solution. For every dollar you push through we’re going to save you $4 in media cost. That media savings can pay for our quality measurement.

It is a win win situation. We’re compressing the cost of media while actually using, they can use those savings to actually pay us for the measurement. And no one else in our space has that and it’s been a value prop that’s been incredibly valuable for us in pitching customers.

Mark Murphy, Head of Software Research, JPMorgan: So part what’s happening in the background that has always been there is that you’re measuring such a volume of the, you call it billable media transactions. That number was 8,300,000,000,000.0 last year. By the way, you don’t usually see numbers in the trillions. And I actually stopped myself and I said I better go make sure that’s not millions or billions. So trillions, can you make that tangible for the audience because what are the elements that you’re measuring?

And then can you take that, can you repurpose the verification data and use that? Can you tie this in with measuring the performance?

Mark Zagorski, CEO, Double Verify: Yeah. I mean if you think about the the digital ad space itself is is it is there’s been numbers that kicked around. It was around a trillion dollars a year is what people think in digital ad spend. Right? We measure across the open web.

We measure across social, so people like Meta, TikTok, Pinterest, Snap. We measure across connected television. We measure mobile app and mobile web. So basically we cover just about all of digital ad spend and we do that for about half of the top 1,000 brands on the planet. So think Unilever, Microsoft, Colgate, Kenview.

These are huge customers, P and G. P and G alone spends billion dollars on YouTube. So we see tons and tons and tons of transactions. That data that we capture from that transaction, we use to measure quality, but we also get signals like viewability, we get signals like device type. All of those different signals can be used to build different products, but also help us determine performance.

So those signals can be fed into SiBids if you want to optimize against viewability, you want to optimize against quality. That’s one take and we see those transactions. With RockerBox, we actually get to see the actual, not just the ad transaction, but the commercial transaction as well. So for a customer, they will get their sales data that comes in from their website. They will get also the linear TV spend.

They will get the transactions that happen off their website. They get everything in that box because they’re there to prove what’s called multi touch attribution, which is try to attribute ad spend to actually a sale. So we’re going to see even more data over time which gives us a better view to actually determine what’s working and what’s not working. So all this data comes together into not only a contextual view of the ad environment and whether it’s safe or not safe, but a performance view as well.

Mark Murphy, Head of Software Research, JPMorgan: And if you are, it’s nice to see that how you can close the loop and how all that data is potentially synergistic. If you are successful in the long run-in kind of growing this performance vision and closing the whole loop like that? What mix of business do you think it could become?

Mark Zagorski, CEO, Double Verify: I mean, we’ve got a couple layers to get to before we go. Right now, our social business as we talked about, even on our core verification is relatively small compared to how big social is in the universe. A, number one, I think our social business can be as big as our open web business, which means multiples of the size that it gets. And then when you look at things like performance, we’ve said, SciBids, we’re on target to hit $100,000,000 just with our SciBids business by 2028. RockerBox is small in itself, but I think looking at overall its impact on our platform, think is going to

Mark Murphy, Head of Software Research, JPMorgan: be

Mark Zagorski, CEO, Double Verify: sizable. So we’ve grown the TAM for our business by going performance, because the fact that we’re not just top of the funnel with brand advertising and brand quality, but we’re now moving bottom of the funnel. So you’re looking at expansion in the billions of potential TAM for us, and I think the short term growth opportunities again are on social, but as well as performance metrics like CyBids and performance tools like RockerBox.

Mark Murphy, Head of Software Research, JPMorgan: Okay, so if we step back, great to have a TAM of an additional billion. We step back and kind of think about the, I’m sorry, you said billions. We step back and think about the broader kind of value prop and the differentiation that you’ve got, And, you’re constantly mentioning Procter and Gamble at Microsoft and Google and Kellogg’s and on the earnings call you were talking about Nike. It’s kind of a who’s You are still outgrowing your competitors, right? And you had a pretty, you you won a big chunk of the moat business.

You’re getting competitive displacements at a pretty regular cadence. There’s a lot to like there. What do you think is the kind of bigger picture differentiation that is attracting them? I think back to the time of the IPO, we would hear breadth of offering, we would hear global footprint, we would hear scale. What do you think is getting these deals over the finish line?

Mark Zagorski, CEO, Double Verify: I mean all those things are still really important. So scale begets scale. The more data transactions, so you talked about the trillions that we see, the smarter our engine becomes. Right? The more those big brands we work with, the more we learn because we’re just one big learning engine.

Right? It’s a big contextual engine to look at transactions and learn more. So that becomes an advantage for us. The more platforms that we work with becomes an advantage because some of these platforms only work with two or three companies and will never work with more. So they don’t want to let lots of startups or small companies look at their data and analyze what’s going on.

So that becomes an advantage to us. The breadth of our offering is now unmatched with bringing in these performance solutions. No one else has an embedded optimization tool like CyBids AI. No other company in our space has a closed loop attribution solution. So we’ve got a differentiated platform, we’ve got more scale, and now the solutions that we’re providing are providing better results because of the fact that we can tie all of them together.

So I really do believe we’re in the leadership position because of breadth, scale, and overall quality of the results we’re able to deliver.

Mark Murphy, Head of Software Research, JPMorgan: Can you give us a moment worth of discussion on the impact that AI is going to have on the landscape? Because I want to also ask you about the innovation day coming up. The two things are probably going to interrelate. I think similar to what we see in security software, it’s kind of creating challenges on both sides of the ledger. You’ve got AI can create this huge volume, it can auto generate web content, you’ve got deep fake, you’ve fake videos out there, you’ve got AI bots that can mimic human behavior and how are you telling now what is is human viewed and what is not.

Can can can you speak to the not a lot of time, can you give us a little a moment on the challenge and the opportunity?

Mark Zagorski, CEO, Double Verify: Let me talk about AI in one minute and two seconds. Alright. So it’s created a ton of challenges as you’ve noted, but we’re using AI to address those. So it is it is an arms race. Right?

So if AI creates what we call AI slop out there, which is tons of AI generated content or deep fakes, we’re using AI to detect those. If AI is creating fraud, we’re using AI tools to actually look for those abnormal patterns that were hard to find before. So we use AI to fight AI. We’re also leaning into it for operational efficiencies. We’re somewhere up to upwards of 20 to 30% of our code is now AI generated internally, which means less engineer time spending doing tapping and more thinking.

We’re using it in our unified content intelligence solution which allows us to analyze massive amounts of short form video on TikTok and Reels in a very efficient way. So we’re leveraging it for efficiency, it’s creating more noise outside, but that just creates greater demand for our product too.

Mark Murphy, Head of Software Research, JPMorgan: Yeah, okay. And then finally, maybe thirty seconds on this. Tejal does a great job with all respects in all of her interactions. She does, that includes the innovation day and highlighting it, making sure we’re aware and making sure we’re all gonna be there. What do you think we should be looking for out of innovation day?

Are there one or two topics or themes that you think are gonna stand out or that you’re most excited about?

Mark Zagorski, CEO, Double Verify: Yeah. Mean, the broader long term vision of becoming an essential performance platform for advertisers is gonna be the key theme. Plus, Nicole here on my left will be talking about interesting financial future for the business as well. Right, Nicole?

Nicola Alais, CFO, Double Verify: That’s right.

Mark Murphy, Head of Software Research, JPMorgan: Yeah. Interesting financial future for the okay. That’s a bit of a I don’t know. It’s a

Mark Zagorski, CEO, Double Verify: bit like I’m not gonna give you this

Mark Murphy, Head of Software Research, JPMorgan: specifics if I need talk to you.

Mark Zagorski, CEO, Double Verify: Alright. There’ll be some

Mark Murphy, Head of Software Research, JPMorgan: cool financial stuff. Something to look forward to. Thank you so much for for taking the time to be here. We

Unidentified speaker: it. Thanks, Bart.

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