Shares of DoubleVerify Holdings took a hit as the company released guidance for the first quarter and 2024 that fell short of analysts' expectations.
Stock Performance
- After-Hours Plunge: The stock dropped by 21% to $31 in after-hours trading, following a 5.6% decrease at the close of Wednesday.
- Recent Trend: Despite the recent decline, shares have seen a 19% increase in the last three months.
Financial Outlook
- First Quarter Revenue: DoubleVerify anticipates revenue in the range of $136 million to $140 million for the first quarter, falling short of analysts' $146.9 million forecast.
- Adjusted Ebitda Projection: The company also expects adjusted Ebitda of $33 million to $37 million, with a margin of 25% at the midpoint, down from the previous quarter's margin of about 33%.
Full-Year Forecast
- Revenue Guidance: For the full year, DoubleVerify forecasts revenue between $688 million to $704 million, below analysts' expectation of $707.1 million for 2024.
Strong Q4 Performance
- Q4 Revenue Growth: DoubleVerify saw a 29% increase in revenue, totaling $172.2 million in the fourth quarter, surpassing analysts' forecast.
- Profit Increase: The company reported a profit of $33.1 million for the quarter ended Dec. 31, up from $18.1 million a year ago.
Despite the recent setbacks, DoubleVerify remains optimistic about its growth potential in the upcoming quarters.
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