DoubleVerify Holdings, Inc. — Form 8-K Summary
Business context and reporting period
DoubleVerify filed this Current Report on June 1, 2022 under Item 7.01, Regulation FD Disclosure. The filing reaffirmed guidance previously issued on May 10, 2022 following results for the three months ended March 31, 2022. No new quarterly historical financial statements were included.
Financial metrics and liquidity
- Second-quarter 2022 guidance: Revenue of $101 million to $103 million and Adjusted EBITDA of $27 million to $29 million for the quarter ending June 30, 2022.
- Fiscal 2022 guidance: Revenue of $439 million to $445 million and Adjusted EBITDA of $131 million to $137 million for the year ending December 31, 2022.
- The filing does not provide updated figures for net income, cash flow, margins, debt, cash balances, or liquidity.
- Adjusted EBITDA is a non-GAAP measure. The Company did not reconcile the guidance to GAAP net income because it could not reasonably quantify stock-based compensation, depreciation and amortization, acquisition-related costs, interest income, and income taxes on a consistent basis.
Changes versus the prior comparable period
The filing does not provide period-over-period results or identify changes versus the prior comparable period. Its principal disclosure is that management continued to expect the previously announced second-quarter and full-year 2022 guidance ranges as of June 1, 2022.
Guidance, outlook, risks, and unusual items
- Management’s outlook remained unchanged from the guidance announced May 10, 2022.
- The guidance is forward-looking and is not a guarantee of future performance. Actual results may differ materially.
- Identified risks include market competitiveness, economic downturns, unstable market conditions, the ability to collect payments, and potential fluctuations in revenue and operating results.
- The Company stated that it operates in a rapidly changing environment and that additional risks are described in its Form 10-K filed March 8, 2022 and subsequent SEC filings.
- No acquisition, financing, litigation, restructuring, or other unusual event was disclosed in the provided filing text.
Important facts for investors to verify
- Whether second-quarter revenue and Adjusted EBITDA results fall within the reaffirmed ranges.
- Whether the Company subsequently changes its fiscal 2022 revenue or Adjusted EBITDA guidance.
- The reconciliation of Adjusted EBITDA to GAAP net income when reported results become available.
- Cash flow, cash balances, debt, liquidity, and collection trends, which are not provided in this 8-K.
- Risk-factor updates and any material developments disclosed in subsequent SEC filings.