DoubleVerify (DV)
Market Price (7/6/2026): $11.435 | Market Cap: $1.8 BilSector: Communication Services | Industry: Advertising
DoubleVerify (DV)
Market Price (7/6/2026): $11.435Market Cap: $1.8 BilSector: Communication ServicesIndustry: Advertising
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 23%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 18% Attractive yieldFCF Yield is 7.3% Low stock price volatilityVol 12M is 45% Megatrend and thematic driversMegatrends include Digital Advertising, Cloud Computing, and Artificial Intelligence. Themes include Ad-Tech Platforms, Show more. | Weak multi-year price returns2Y Excs Rtn is -76%, 3Y Excs Rtn is -141% | Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 14% Key risksDV key risks include [1] its legacy open-exchange verification model being challenged by the dominance of closed platforms, Show more. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 23%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 18% |
| Attractive yieldFCF Yield is 7.3% |
| Low stock price volatilityVol 12M is 45% |
| Megatrend and thematic driversMegatrends include Digital Advertising, Cloud Computing, and Artificial Intelligence. Themes include Ad-Tech Platforms, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -76%, 3Y Excs Rtn is -141% |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 14% |
| Key risksDV key risks include [1] its legacy open-exchange verification model being challenged by the dominance of closed platforms, Show more. |
Qualitative Assessment
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DoubleVerify (DV) stock has gained about 20% since 3/31/2026 because of the following key factors:
1. Strong Fiscal Q1 2026 Financial Performance and Reaffirmed Guidance.
DoubleVerify reported robust financial results for fiscal Q1 2026, ending March 31, 2026, with total revenue increasing 10% year-over-year to $180.8 million, which met analyst expectations. The company also achieved an adjusted EBITDA of $55.2 million, translating to a 31% adjusted EBITDA margin, an increase from 27% in the prior-year quarter, and exceeding expectations. Furthermore, DoubleVerify reiterated its full-year 2026 revenue guidance, projecting between $810 million and $826 million, representing an 8% to 10% year-over-year increase, alongside an anticipated adjusted EBITDA margin of approximately 34%.
2. Growth in Key Strategic Verticals and AI-Driven Innovation.
The company demonstrated significant momentum in its strategic growth areas during fiscal Q1 2026, with social measurement revenue increasing by 23% and Media Transactions Measured (MTM) for Connected TV (CTV) growing by 28%. This growth was further bolstered by key product innovations and expansions, including the June 2026 launch of DV Neura, an AI engine, and the expansion of its DV Authentic AdVantage optimization suite to Meta and TikTok in June 2026, broadening AI-driven brand safety and measurement capabilities across major social and streaming platforms.
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DoubleVerify (DV) stock has gained about 20% since 3/31/2026 because of the following key factors:
1. Strong Fiscal Q1 2026 Financial Performance and Reaffirmed Guidance.
DoubleVerify reported robust financial results for fiscal Q1 2026, ending March 31, 2026, with total revenue increasing 10% year-over-year to $180.8 million, which met analyst expectations. The company also achieved an adjusted EBITDA of $55.2 million, translating to a 31% adjusted EBITDA margin, an increase from 27% in the prior-year quarter, and exceeding expectations. Furthermore, DoubleVerify reiterated its full-year 2026 revenue guidance, projecting between $810 million and $826 million, representing an 8% to 10% year-over-year increase, alongside an anticipated adjusted EBITDA margin of approximately 34%.
2. Growth in Key Strategic Verticals and AI-Driven Innovation.
The company demonstrated significant momentum in its strategic growth areas during fiscal Q1 2026, with social measurement revenue increasing by 23% and Media Transactions Measured (MTM) for Connected TV (CTV) growing by 28%. This growth was further bolstered by key product innovations and expansions, including the June 2026 launch of DV Neura, an AI engine, and the expansion of its DV Authentic AdVantage optimization suite to Meta and TikTok in June 2026, broadening AI-driven brand safety and measurement capabilities across major social and streaming platforms.
3. Substantial Share Repurchase Program.
DoubleVerify actively engaged in its share repurchase program, buying back 9.8 million shares for $100.2 million year-to-date as of May 6, 2026, with $75 million of these repurchases occurring in fiscal Q1 2026. This initiative is part of a larger $300 million authorization, signaling management's confidence in the company's valuation and its commitment to returning capital to shareholders, which can positively influence stock performance.
4. Positive Analyst Outlook.
The overall sentiment among Wall Street analysts regarding DoubleVerify remains positive, with a consensus rating of "Buy" or "Moderate Buy" from numerous firms. Analysts have set average 12-month price targets ranging from $13.06 to $16.50, implying a potential upside from current levels and reflecting investor confidence in the company's future growth prospects.
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Stock Movement Drivers
Fundamental Drivers
The 20.4% change in DV stock from 3/31/2026 to 7/5/2026 was primarily driven by a 11.2% change in the company's P/E Multiple.| (LTM values as of) | 3312026 | 7052026 | Change |
|---|---|---|---|
| Stock Price ($) | 9.50 | 11.44 | 20.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 748 | 764 | 2.1% |
| Net Income Margin (%) | 6.8% | 7.2% | 5.8% |
| P/E Multiple | 30.2 | 33.6 | 11.2% |
| Shares Outstanding (Mil) | 161 | 161 | 0.3% |
| Cumulative Contribution | 20.4% |
Market Drivers
3/31/2026 to 7/5/2026| Return | Correlation | |
|---|---|---|
| DV | 20.4% | |
| Market (SPY) | 14.5% | 0.2% |
| Sector (XLC) | -1.1% | 16.3% |
Fundamental Drivers
The 0.0% change in DV stock from 12/31/2025 to 7/5/2026 was primarily driven by a 17.4% change in the company's Net Income Margin (%).| (LTM values as of) | 12312025 | 7052026 | Change |
|---|---|---|---|
| Stock Price ($) | 11.44 | 11.44 | 0.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 733 | 764 | 4.2% |
| Net Income Margin (%) | 6.1% | 7.2% | 17.4% |
| P/E Multiple | 41.4 | 33.6 | -18.9% |
| Shares Outstanding (Mil) | 162 | 161 | 0.8% |
| Cumulative Contribution | 0.0% |
Market Drivers
12/31/2025 to 7/5/2026| Return | Correlation | |
|---|---|---|
| DV | 0.0% | |
| Market (SPY) | 9.5% | 12.1% |
| Sector (XLC) | -6.6% | 32.0% |
Fundamental Drivers
The -23.6% change in DV stock from 6/30/2025 to 7/5/2026 was primarily driven by a -30.0% change in the company's P/E Multiple.| (LTM values as of) | 6302025 | 7052026 | Change |
|---|---|---|---|
| Stock Price ($) | 14.97 | 11.44 | -23.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 681 | 764 | 12.2% |
| Net Income Margin (%) | 7.6% | 7.2% | -5.2% |
| P/E Multiple | 48.1 | 33.6 | -30.0% |
| Shares Outstanding (Mil) | 165 | 161 | 2.7% |
| Cumulative Contribution | -23.6% |
Market Drivers
6/30/2025 to 7/5/2026| Return | Correlation | |
|---|---|---|
| DV | -23.6% | |
| Market (SPY) | 21.6% | 16.9% |
| Sector (XLC) | 2.0% | 31.1% |
Fundamental Drivers
The -70.6% change in DV stock from 6/30/2023 to 7/5/2026 was primarily driven by a -73.5% change in the company's P/E Multiple.| (LTM values as of) | 6302023 | 7052026 | Change |
|---|---|---|---|
| Stock Price ($) | 38.92 | 11.44 | -70.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 478 | 764 | 59.7% |
| Net Income Margin (%) | 10.6% | 7.2% | -32.7% |
| P/E Multiple | 126.7 | 33.6 | -73.5% |
| Shares Outstanding (Mil) | 166 | 161 | 3.0% |
| Cumulative Contribution | -70.6% |
Market Drivers
6/30/2023 to 7/5/2026| Return | Correlation | |
|---|---|---|
| DV | -70.6% | |
| Market (SPY) | 74.0% | 27.1% |
| Sector (XLC) | 73.7% | 29.8% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| DV Return | -8% | -34% | 67% | -48% | -40% | -2% | -69% |
| Peers Return | 14% | -61% | 65% | 154% | 3% | 5% | 101% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 9% | 99% |
Monthly Win Rates [3] | |||||||
| DV Win Rate | 56% | 50% | 58% | 50% | 50% | 43% | |
| Peers Win Rate | 52% | 27% | 58% | 52% | 48% | 54% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 43% | |
Max Drawdowns [4] | |||||||
| DV Max Drawdown | - | -45% | -37% | -62% | -59% | -25% | |
| Peers Max Drawdown | -56% | -70% | -45% | -38% | -58% | -39% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: TTD, MGNI, PUBM, SCOR, APP.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 7/2/2026 (YTD)
How Low Can It Go
| Event | DV | S&P 500 |
|---|---|---|
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -35.1% | -9.5% |
| % Gain to Breakeven | 54.1% | 10.5% |
| Time to Breakeven | 94 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -11.1% | -6.7% |
| % Gain to Breakeven | 12.5% | 7.1% |
| Time to Breakeven | 9 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -44.2% | -24.5% |
| % Gain to Breakeven | 79.3% | 32.4% |
| Time to Breakeven | 380 days | 427 days |
In The Past
DoubleVerify's stock fell -8.4% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 9.2% gain to breakeven.
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| Event | DV | S&P 500 |
|---|---|---|
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -35.1% | -9.5% |
| % Gain to Breakeven | 54.1% | 10.5% |
| Time to Breakeven | 94 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -44.2% | -24.5% |
| % Gain to Breakeven | 79.3% | 32.4% |
| Time to Breakeven | 380 days | 427 days |
In The Past
DoubleVerify's stock fell -8.4% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 9.2% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About DoubleVerify (DV)
DoubleVerify Holdings, Inc. (DV) operates a software platform specializing in digital media measurement, data, and analytics. The company's core mission is to provide advertisers with unbiased data analytics to enhance the effectiveness, quality, and return on investment of their digital advertising campaigns. Its solutions are deeply integrated across the digital advertising ecosystem, including programmatic platforms, connected TV, social media channels, and various digital publishers.
DoubleVerify offers several key solutions designed to optimize ad performance. For advertisers, DV Authentic Ad evaluates digital media quality by assessing fraud, brand safety, viewability, and geographic relevance for each ad. The DV Authentic Attention solution provides predictive analytics on ad exposure and engagement to drive campaign performance, while Custom Contextual allows advertisers to match their ads with relevant content for maximum user engagement. Additionally, DV Pinnacle serves as an analytics platform, enabling customers to manage media plans and track performance.
Beyond advertisers, DoubleVerify also supports digital publishers with its DV Publisher suite, a solution designed to manage revenue, increase inventory yield, and improve video delivery. The company serves a diverse customer base, primarily consisting of major brands across various industry verticals such as consumer packaged goods, financial services, telecommunications, and automotive, as well as digital publishers and other supply-side customers.
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Here are 1-3 brief analogies for DoubleVerify (DV):
- Nielsen for digital ad quality and performance.
- Carfax for digital ad placements.
- UL for digital advertising quality and safety.
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- DV Authentic Ad: A metric for digital media quality, evaluating fraud, brand safety, viewability, and geography for digital ads.
- DV Authentic Attention solution: Provides exposure and engagement predictive analytics to enhance campaign performance.
- Custom Contextual solution: Enables advertisers to match ads with relevant content to maximize user engagement and drive performance.
- DV Publisher suite: A solution for digital publishers to manage revenue and increase inventory yield.
- DV Pinnacle: A service and analytics platform user interface allowing customers to adjust media plans and track campaign performance metrics.
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DoubleVerify (DV) primarily sells its software platform and solutions to other companies.
Based on the provided description, specific names of major customer companies are not listed. Instead, the company describes its customers by categories and the industry verticals they represent:
- Brands
- Publishers
- Other supply-side customers
These customers operate across various industry verticals, including:
- Consumer packaged goods
- Financial services
- Telecommunications
- Technology
- Automotive
- Healthcare
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- Meta Platforms Inc. (META)
- Alphabet Inc. (GOOGL)
- The Trade Desk, Inc. (TTD)
- Roku, Inc. (ROKU)
- Amazon.com, Inc. (AMZN)
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Mark Zagorski, Chief Executive Officer
Mark Zagorski joined DoubleVerify as Chief Executive Officer in 2020. He brings over two decades of digital marketing and advertising technology leadership experience. Prior to DoubleVerify, Mark served as CEO of Telaria (NYSE:TLRA), where he was instrumental in establishing it as a leading video and CTV monetization platform and spearheaded its successful merger with Rubicon Project (NASDAQ:RUBI), creating the industry's largest independent sell-side advertising platform. Earlier, he was CEO of eXelate, where he led its sale to Nielsen and subsequently launched the Nielsen Marketing Cloud as Executive Vice President. He also held C-Level leadership roles at WorldNow (acquired by Frankly) and MediaSpan (acquired by Naviga). He co-founded Frankly Media LLC. DoubleVerify has had a majority investment from private equity firm Providence Equity Partners. Mark has a pattern of leading companies through sales and mergers.
Nicola Allais, Chief Financial Officer
Nicola Allais has served as DoubleVerify's Chief Financial Officer since November 2017. Before joining DoubleVerify, he was the CFO of Penton (acquired by Informa PLC), an information services company, where he oversaw thirteen acquisitions. He also held various finance positions at Downtown Music, Primedia, and HBO. His appointment as CFO followed Providence Equity Partners LLC acquiring a majority stake in DoubleVerify in September 2017. Providence Equity Partners L.L.C. continues to be a key stakeholder in DoubleVerify.
Steve Mougis, Global Chief Commercial Officer
Steve Mougis will assume the role of Global Chief Commercial Officer at DoubleVerify as of January 1, 2026, transitioning from his previous role as Chief Growth Officer. He has been a part of DoubleVerify's Commercial team since 2012, serving in various leadership capacities.
Nisim Tal, Chief Technology Officer
Nisim Tal is responsible for DoubleVerify's global technology, software engineering, information security, infrastructure, and corporate IT. Before joining DoubleVerify, Nisim led global R&D teams for the Nielsen Company, where he built data mining, machine learning, content classification, reporting, and analytics products. He also held key leadership positions at Buzzmetrics (acquired by Nielsen), SAP, Cadence, and Bullunz.
Alex Valle, Chief Product Officer
Alex Valle joined DoubleVerify as Chief Product Officer in January 2024. Prior to DoubleVerify, he served as Chief Product Officer of Onfido. His experience also includes roles as General Manager and Vice President of Product at Criteo and Head of Products for Google's Mobile Ads division.
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Key Risks to DoubleVerify (DV)
- Impact of Generative AI on the Open Web: A significant structural risk for DoubleVerify is the potential impact of generative AI on the open web. If users increasingly obtain answers and content directly from AI-powered search engines and platforms rather than navigating to independent publishers, traffic and, consequently, ad impressions on the open web could experience a structural decline. Given that the open web remains a core driver of DoubleVerify's high-margin programmatic business, such a shift could materially affect the company's revenue and financial performance.
- Data Privacy Regulations and Tighter Platform Data Access: DoubleVerify faces risks associated with evolving data privacy regulations globally, such as GDPR and CCPA. Changes or expansions to these regulations could further restrict the collection, processing, and use of personal data, potentially requiring DoubleVerify to alter the functionality of its measurement solutions and impacting the digital advertising ecosystem and its channel partners' practices. Additionally, tighter data access controls imposed by major digital platforms (including social media channels and Connected TV providers) could constrain DoubleVerify's ability to gather necessary data, thereby pressuring its growth prospects and pricing power.
- Intense Competition and the Need for Continuous Innovation: The digital media measurement and analytics market is highly competitive, with numerous companies vying for market share. DoubleVerify must continually innovate and differentiate its offerings to maintain its competitive edge and market position. Failure to keep pace with rapid technological changes, evolving industry standards, or new competitive solutions could render DoubleVerify's offerings less competitive, negatively impacting its financial health and market standing.
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- Ad Verification: The global ad verification market size reached approximately $4.82 billion in 2024 and is projected to grow to about $15.87 billion by 2033, with a compound annual growth rate (CAGR) of 15.4%. In North America, this market accounted for approximately $2.12 billion of the global market size in 2024.
- Contextual Advertising: The global contextual advertising market size was estimated at $195.44 billion in 2023 and is anticipated to reach $468.17 billion by 2030, growing at a CAGR of 13.3% from 2024 to 2030. North America held the largest revenue share of 37.7% in this market in 2023.
- Digital Audience Measurement: The global market for Digital Audience Measurement was estimated to be worth approximately $2.278 billion (US$ 2278 million) in 2025 and is projected to reach around $4.951 billion (US$ 4951 million) by 2032.
- Brand Protection: The global authentication and brand protection market, which includes aspects of brand safety, was valued at approximately $2.99 billion in 2024 and is projected to grow to around $7.64 billion by 2032. North America dominated this market with a share of 33.44% in 2024.
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DoubleVerify Holdings, Inc. (DV) is expected to drive future revenue growth over the next two to three years through several key initiatives:
- Expansion in Social Media Platforms: DoubleVerify anticipates significant growth from its solutions integrated into social media channels. The company reported approximately 60% year-over-year growth in social activation during Q4 2025, and specifically identifies Meta pre-bid activation as a material revenue driver for 2026.
- Growth in Connected TV (CTV) Measurement and Activation: CTV is a strategic high-growth vertical for DoubleVerify. The company launched new streaming TV products in late 2025 and early 2026, including Verified Streaming TV pre-bid segments and "Do Not Air" Automation. Streaming TV activation is projected to contribute incremental revenue, and CTV measurement impressions saw a 22% increase in Q4 2025.
- Leveraging AI and Product Innovation: DoubleVerify is focused on product innovation, particularly through the application of artificial intelligence. Its AI verification suite and other AI-powered solutions are expected to expand the total addressable market, enhance solution effectiveness, and contribute to future growth. The company's product innovation in 2025 leveraged AI to set the stage for future growth.
- Broadening Customer Relationships: The company aims to increase revenue by both expanding its footprint within existing enterprise client accounts and by acquiring new customers. Management has noted a significant whitespace opportunity, with approximately 500 of the world's top advertisers not yet utilizing DoubleVerify's services. DoubleVerify's ability to maintain strong gross revenue retention (exceeding 95%) and net revenue retention (109% for fiscal 2025) with existing clients, along with the growth in customers generating over $1 million in annual revenue, underscores this driver.
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Share Repurchases
- DoubleVerify's Board of Directors approved a new share repurchase program on February 26, 2026, authorizing up to $300 million of common stock, which is the largest authorization in the company's history.
- In the full year 2025, DoubleVerify repurchased 8.4 million shares for $132.3 million.
- The company's share buybacks were $128.0 million in fiscal year 2024, improving from $10 million over the prior two years.
Share Issuance
- DoubleVerify Holdings, Inc. went public with an Initial Public Offering (IPO) in 2021.
- The number of outstanding shares decreased from 171.146 million in 2023 to 167.069 million in 2024, and further to 162.031 million at the end of 2025, reflecting the impact of share repurchases.
Outbound Investments
- In February 2025, DoubleVerify acquired Rockerbox, a unified marketing measurement platform, for $85 million to enhance its end-to-end media performance measurement and AI-powered activation capabilities.
- DoubleVerify acquired Scibids, an AI-powered media buying platform, for $125 million in July 2023, expanding its ability to optimize media transactions from activation to measurement.
- In November 2021, DoubleVerify acquired Open Slate for $150 million.
Capital Expenditures
- Capital expenditures for the last 12 months (as of March 2026, likely reflecting FY2025) were $38.53 million.
- Annual capital expenditures were $27.1 million in 2024, $17.0 million in 2023, $40.0 million in 2022, and $9.4 million in 2021.
- These expenditures are primarily focused on maintaining and enhancing the company's software platform for digital media measurement, data, and analytics, and supporting its global scale and innovation.
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 16.33 |
| Mkt Cap | 2.4 |
| Rev LTM | 743 |
| Op Inc LTM | 97 |
| FCF LTM | 92 |
| FCF 3Y Avg | 134 |
| CFO LTM | 145 |
| CFO 3Y Avg | 178 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 9.6% |
| Rev Chg 3Y Avg | 12.0% |
| Rev Chg Q | 7.5% |
| QoQ Delta Rev Chg LTM | 1.7% |
| Op Inc Chg LTM | 19.9% |
| Op Inc Chg 3Y Avg | 52.8% |
| Op Mgn LTM | 13.2% |
| Op Mgn 3Y Avg | 8.4% |
| QoQ Delta Op Mgn LTM | 0.4% |
| CFO/Rev LTM | 26.3% |
| CFO/Rev 3Y Avg | 29.0% |
| FCF/Rev LTM | 17.6% |
| FCF/Rev 3Y Avg | 20.0% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 2.4 |
| P/S | 2.7 |
| P/Op Inc | 24.1 |
| P/EBIT | 17.7 |
| P/E | 19.7 |
| P/CFO | 9.3 |
| Total Yield | 2.6% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 4.7% |
| D/E | 0.1 |
| Net D/E | -0.0 |
Price Behavior
| Market Price | $11.44 | |
| Market Cap ($ Bil) | 1.8 | |
| First Trading Date | 04/21/2021 | |
| Distance from 52W High | -29.7% | |
| 50 Days | 200 Days | |
| DMA Price | $11.96 | $14.43 |
| DMA Trend | down | up |
| Distance from DMA | -4.3% | -20.7% |
| 3M | 1YR | |
| Volatility | 50.5% | 45.0% |
| Downside Capture | -45.14 | 72.78 |
| Upside Capture | 27.67 | 20.33 |
| Correlation (SPY) | 0.3% | 16.9% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.27 | -0.37 | 0.03 | 0.43 | 0.61 | 0.92 |
| Up Beta | -0.82 | -0.66 | -0.18 | 0.06 | 0.93 | 1.21 |
| Down Beta | 1.15 | 0.17 | -0.09 | 0.79 | 0.63 | 0.82 |
| Up Capture | 98% | -43% | 36% | 28% | 15% | 13% |
| Bmk +ve Days | 11 | 24 | 40 | 67 | 140 | 429 |
| Stock +ve Days | 10 | 20 | 37 | 63 | 127 | 382 |
| Down Capture | -32% | -56% | -9% | 61% | 82% | 102% |
| Bmk -ve Days | 10 | 17 | 23 | 58 | 112 | 321 |
| Stock -ve Days | 11 | 20 | 24 | 58 | 113 | 352 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with DV | |
|---|---|---|---|---|
| DV | -25.6% | 44.9% | -0.53 | - |
| Sector ETF (XLC) | 2.7% | 13.7% | -0.04 | 31.7% |
| Equity (SPY) | 21.7% | 12.5% | 1.29 | 17.3% |
| Gold (GLD) | 23.1% | 27.7% | 0.73 | -0.2% |
| Commodities (DBC) | 21.3% | 18.6% | 0.90 | 1.6% |
| Real Estate (VNQ) | 13.6% | 13.8% | 0.68 | 5.7% |
| Bitcoin (BTCUSD) | -42.0% | 42.7% | -1.15 | 9.1% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with DV | |
|---|---|---|---|---|
| DV | -23.2% | 52.4% | -0.29 | - |
| Sector ETF (XLC) | 7.4% | 20.7% | 0.27 | 41.7% |
| Equity (SPY) | 13.3% | 17.1% | 0.60 | 39.1% |
| Gold (GLD) | 17.9% | 18.3% | 0.79 | 1.9% |
| Commodities (DBC) | 6.9% | 19.5% | 0.25 | 5.6% |
| Real Estate (VNQ) | 3.1% | 18.9% | 0.06 | 27.6% |
| Bitcoin (BTCUSD) | 12.2% | 53.8% | 0.41 | 18.6% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with DV | |
|---|---|---|---|---|
| DV | -11.0% | 53.1% | -0.21 | - |
| Sector ETF (XLC) | 9.0% | 22.2% | 0.46 | 40.8% |
| Equity (SPY) | 15.4% | 18.0% | 0.73 | 37.9% |
| Gold (GLD) | 12.1% | 16.1% | 0.61 | 2.0% |
| Commodities (DBC) | 5.7% | 18.0% | 0.25 | 6.4% |
| Real Estate (VNQ) | 5.5% | 20.7% | 0.23 | 26.4% |
| Bitcoin (BTCUSD) | 59.0% | 66.2% | 0.99 | 18.6% |
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Returns Analyses
Earnings Returns History
Updated 6/9/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/6/2026 | -2.7% | -20.4% | -8.1% |
| 2/26/2026 | 10.6% | 14.6% | -2.3% |
| 11/7/2025 | -14.4% | -4.6% | -0.3% |
| 8/5/2025 | 2.5% | -3.3% | -1.5% |
| 6/11/2025 | 0.1% | -4.0% | 0.0% |
| 2/27/2025 | -36.0% | -30.8% | -38.6% |
| 11/6/2024 | 0.9% | 4.0% | 5.7% |
| 7/30/2024 | -2.1% | -12.1% | -11.1% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 14 | 8 | 10 |
| # Negative | 7 | 13 | 11 |
| Median Positive | 3.6% | 10.2% | 10.0% |
| Median Negative | -14.4% | -4.6% | -8.0% |
| Max Positive | 10.6% | 19.5% | 29.6% |
| Max Negative | -38.6% | -38.2% | -38.6% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/6/2026 | -2.7% | -20.4% | -8.1% |
| 2/26/2026 | 10.6% | 14.6% | -2.3% |
| 11/7/2025 | -14.4% | -4.6% | -0.3% |
| 8/5/2025 | 2.5% | -3.3% | -1.5% |
| 6/11/2025 | 0.1% | -4.0% | 0.0% |
| 2/27/2025 | -36.0% | -30.8% | -38.6% |
| 11/6/2024 | 0.9% | 4.0% | 5.7% |
| 7/30/2024 | -2.1% | -12.1% | -11.1% |
| 5/7/2024 | -38.6% | -38.2% | -38.5% |
| 2/28/2024 | -21.3% | -24.7% | -10.4% |
| 11/9/2023 | 5.6% | 7.4% | 15.9% |
| 9/14/2023 | 1.1% | -1.4% | -2.8% |
| 5/10/2023 | 6.6% | 2.7% | 29.6% |
| 3/1/2023 | 4.8% | 1.7% | 11.7% |
| 11/8/2022 | 5.4% | 13.0% | 6.7% |
| 8/3/2022 | 5.4% | 15.2% | 8.3% |
| 5/10/2022 | 1.8% | 19.5% | 24.5% |
| 3/8/2022 | 0.5% | -10.6% | 2.9% |
| 11/9/2021 | 1.9% | -3.2% | -8.0% |
| 7/29/2021 | -3.6% | -3.4% | -6.5% |
| 5/26/2021 | 4.7% | -1.1% | 24.1% |
| SUMMARY STATS | |||
| # Positive | 14 | 8 | 10 |
| # Negative | 7 | 13 | 11 |
| Median Positive | 3.6% | 10.2% | 10.0% |
| Median Negative | -14.4% | -4.6% | -8.0% |
| Max Positive | 10.6% | 19.5% | 29.6% |
| Max Negative | -38.6% | -38.2% | -38.6% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/06/2026 | 10-Q |
| 12/31/2025 | 02/26/2026 | 10-K |
| 09/30/2025 | 11/07/2025 | 10-Q |
| 06/30/2025 | 08/05/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 02/27/2025 | 10-K |
| 09/30/2024 | 11/06/2024 | 10-Q |
| 06/30/2024 | 07/30/2024 | 10-Q |
| 03/31/2024 | 05/07/2024 | 10-Q |
| 12/31/2023 | 02/28/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 07/31/2023 | 10-Q |
| 03/31/2023 | 05/10/2023 | 10-Q |
| 12/31/2022 | 03/01/2023 | 10-K |
| 09/30/2022 | 11/08/2022 | 10-Q |
| 06/30/2022 | 08/03/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/06/2026 | 10-Q |
| 12/31/2025 | 02/26/2026 | 10-K |
| 09/30/2025 | 11/07/2025 | 10-Q |
| 06/30/2025 | 08/05/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 02/27/2025 | 10-K |
| 09/30/2024 | 11/06/2024 | 10-Q |
| 06/30/2024 | 07/30/2024 | 10-Q |
| 03/31/2024 | 05/07/2024 | 10-Q |
| 12/31/2023 | 02/28/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 07/31/2023 | 10-Q |
| 03/31/2023 | 05/10/2023 | 10-Q |
| 12/31/2022 | 03/01/2023 | 10-K |
| 09/30/2022 | 11/08/2022 | 10-Q |
| 06/30/2022 | 08/03/2022 | 10-Q |
| 03/31/2022 | 05/10/2022 | 10-Q |
| 12/31/2021 | 03/08/2022 | 10-K |
| 09/30/2021 | 11/09/2021 | 10-Q |
| 06/30/2021 | 07/29/2021 | 10-Q |
| 03/31/2021 | 05/26/2021 | 10-Q |
| 12/31/2020 | 04/22/2021 | 424B4 |
Recent Forward Guidance
Updated 5/31/2026Latest: Q1 2026 Earnings Reported 5/6/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q2 2026 Revenue | 199.00 Mil | 202.00 Mil | 205.00 Mil | ||||
| Q2 2026 Adjusted EBITDA | 63.00 Mil | 65.00 Mil | 67.00 Mil | ||||
| 2026 Revenue | 810.00 Mil | 818.00 Mil | 826.00 Mil | 0 | Affirmed | Guidance: 818.00 Mil for 2026 | |
| 2026 Adjusted EBITDA margin | 34.0% | 0 | 0 | Affirmed | Guidance: 34.0% for 2026 | ||
Prior: Q4 2025 Earnings Reported 2/26/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2026 Revenue | 177.00 Mil | 180.00 Mil | 183.00 Mil | -13.9% | Lowered | Guidance: 209.00 Mil for Q4 2025 | |
| Q1 2026 Adjusted EBITDA | 48.00 Mil | 50.00 Mil | 52.00 Mil | -36.7% | Lowered | Guidance: 79.00 Mil for Q4 2025 | |
| 2026 Revenue | 810.00 Mil | 818.00 Mil | 826.00 Mil | ||||
| 2026 Adjusted EBITDA Margin | 34.0% | 3.0% | 1.0% | Higher New | Actual: 33.0% for 2025 | ||
Insider Activity
Updated 7/1/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Grimmig, Andrew E | Chief Legal Officer | Direct | Sell | 3042026 | 10.31 | 1,000 | 10,310 | 1,025,814 | Form |
| 2 | Grimmig, Andrew E | Chief Legal Officer | Direct | Sell | 2042026 | 10.71 | 1,000 | 10,710 | 1,076,323 | Form |
| 3 | Grimmig, Andrew E | Chief Legal Officer | Direct | Sell | 1062026 | 11.49 | 1,000 | 11,490 | 1,166,201 | Form |
| 4 | Grimmig, Andrew E | Chief Legal Officer | Direct | Sell | 12172025 | 10.81 | 3,096 | 33,468 | 1,107,993 | Form |
| 5 | Grimmig, Andrew E | Chief Legal Officer | Direct | Sell | 12032025 | 10.46 | 1,000 | 10,460 | 975,928 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Grimmig, Andrew E | Chief Legal Officer | Direct | Sell | 3042026 | 10.31 | 1,000 | 10,310 | 1,025,814 | Form |
| 2 | Grimmig, Andrew E | Chief Legal Officer | Direct | Sell | 2042026 | 10.71 | 1,000 | 10,710 | 1,076,323 | Form |
| 3 | Grimmig, Andrew E | Chief Legal Officer | Direct | Sell | 1062026 | 11.49 | 1,000 | 11,490 | 1,166,201 | Form |
| 4 | Grimmig, Andrew E | Chief Legal Officer | Direct | Sell | 12172025 | 10.81 | 3,096 | 33,468 | 1,107,993 | Form |
| 5 | Grimmig, Andrew E | Chief Legal Officer | Direct | Sell | 12032025 | 10.46 | 1,000 | 10,460 | 975,928 | Form |
| 6 | Grimmig, Andrew E | Chief Legal Officer | Direct | Sell | 11052025 | 11.30 | 1,000 | 11,300 | 1,065,601 | Form |
| 7 | Grimmig, Andrew E | Chief Legal Officer | Direct | Sell | 10032025 | 11.88 | 1,000 | 11,880 | 1,132,176 | Form |
| 8 | Grimmig, Andrew E | Chief Legal Officer | Direct | Sell | 9192025 | 12.99 | 4,096 | 53,207 | 1,250,950 | Form |
| 9 | Dobrin, Lucy Stamell | Direct | Sell | 9112025 | 14.51 | 6,392 | Form | |||
| 10 | Providence, Vii US Holdings LP | Karim A. Tabet | Sell | 9112025 | 14.51 | 35,749 | Form | |||
| 11 | Providence, Vii US Holdings LP | CSC Trustee 2 (Jersey) Limited | Sell | 9112025 | 14.51 | 396 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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