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DoubleVerify Holdings reported first quarter 2026 results with steady growth and strong profitability. Revenue reached $180.8 million, up 10% year-over-year, led by Activation, Measurement and Supply-side customer types. Net income was $6.4 million, compared with $2.4 million a year earlier.
Adjusted EBITDA rose to $55.2 million with a 31% margin, up from 27%, reflecting operating leverage despite higher product development and sales costs. Free cash flow was negative $6.4 million as working capital and capital spending outpaced cash from operations.
The company repurchased 9.8 million shares for $100.2 million year to date and ended the quarter with about $173.8 million in cash and cash equivalents. Management highlighted a strong balance sheet with no debt and reaffirmed a disciplined capital allocation strategy and financial flexibility.
DoubleVerify Holdings, Inc. is asking stockholders to vote at its May 21, 2026 virtual annual meeting on three main items: electing three Class II directors, approving on a non-binding basis executive pay, and ratifying Deloitte & Touche LLP as independent auditor for 2026.
The board is nominating R. Davis Noell, Lucy Stamell Dobrin and Gary Swidler, all currently serving directors, for new terms through the 2029 meeting, while pledging to phase out its classified board structure by 2028. Stockholders will also cast an advisory Say-on-Pay vote on the compensation program for the CEO and other named executives, which the company describes as heavily performance-based through cash bonuses and equity awards tied to revenue, Adjusted EBITDA and relative total stockholder return. Deloitte, auditor since 2019, received 2025 audit fees of $2.06 million, with the audit committee recommending ratification based on independence, performance and industry expertise.
DoubleVerify Holdings, Inc. Chief Executive Officer Mark Zagorski had restricted stock units vest and convert into common stock. On the vesting date, 13,476 restricted stock units converted into 13,476 shares of common stock on a one-for-one basis, adding to his direct ownership.
To cover tax withholding obligations from this vesting, 7,453 of those common shares were withheld at a value of $9.50 per share, rather than sold in the open market. After these routine compensation-related transactions, Zagorski directly holds 546,742 shares of DoubleVerify common stock.
DoubleVerify Holdings Inc amendment reports that The Vanguard Group holds 0 shares of Common Stock, representing 0% ownership following an internal realignment. The filing states certain Vanguard subsidiaries will report beneficial ownership separately in accordance with SEC Release No. 34-39538.
DoubleVerify Holdings, Inc.’s Chief Legal Officer Andrew E. Grimmig reported equity compensation activity. On March 12, 2026, he received a grant of 146,250 restricted stock units that convert into common stock on a one-for-one basis. On March 15, 2026, multiple tranches of previously granted restricted stock units and performance stock units vested and were settled, converting into 43,192 shares of common stock at no cash exercise price. After these transactions, he directly owns 142,689 shares of common stock, with remaining RSU and PSU awards scheduled to vest quarterly over future periods, further linking his compensation to the company’s share price.
DoubleVerify Holdings, Inc. Chief Financial Officer Nicola T. Allais reported equity compensation activity and related tax withholding. On March 12, 2026, he received a grant of 180,000 restricted stock units that convert into common stock on a one-for-one basis.
On March 15, 2026, portions of several earlier restricted stock unit and performance stock unit awards vested and were settled into common stock through derivative exercises. In connection with these vestings, a total of 23,513 shares of common stock were withheld at $10.21 per share to satisfy tax withholding obligations, rather than sold in the open market.
Following these transactions, Allais directly owned 156,674 shares of DoubleVerify common stock, reflecting routine compensation vesting and associated tax payments, not discretionary open-market buying or selling.
DoubleVerify Holdings, Inc. Global Chief Commercial Officer Steven John Mougis reported routine equity compensation activity. On March 15, 2026, restricted stock units and performance stock units vested and were settled into 47,749 shares of common stock, while 17,220 shares were withheld at $10.21 per share to cover tax obligations.
In addition, on March 12, 2026 he received a new grant of 112,500 restricted stock units, each convertible one-for-one into common stock under time-based vesting schedules. Following these transactions, Mougis directly owns 66,591 shares of DoubleVerify common stock, reflecting net shares held after tax withholding.
DoubleVerify Holdings, Inc. Chief Executive Officer Mark Zagorski reported routine equity-compensation activity. On March 12, 2026, he received a grant of 275,000 restricted stock units that each convert into one share of common stock as they vest.
On March 15, 2026, multiple tranches of previously granted restricted stock units and performance stock units vested and were settled, exercising derivative awards into a total of 118,681 shares of common stock. To cover tax withholding obligations on these vestings, 57,173 shares were withheld at $10.21 per share, which is recorded as F-code dispositions rather than market sales.
Following these transactions, Zagorski directly holds 540,719 shares of DoubleVerify common stock. The remaining portions of the RSU and PSU awards continue to vest over time according to the quarterly vesting schedules described in the footnotes.
DoubleVerify Holdings, Inc. Chief Executive Officer Mark Zagorski reported the acquisition of 145,458 performance stock units that were earned under a performance-based award. These units convert into an equal number of shares of common stock on a one-for-one basis.
The footnotes explain that the original PSU grant of 121,753 units was made on March 13, 2025, but only became reportable once performance conditions were certified on March 10, 2026. Of the earned shares, 41.67% will vest and settle on March 15, 2026, with the remaining shares vesting in 8.33% increments on each quarterly anniversary of that date.