UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 7.01.Regulation FD Disclosure.
On May 10, 2022, DoubleVerify Holdings, Inc. (the “Company”) announced its financial results for the three months ended March 31, 2022 and provided guidance for the quarter ending June 30, 2022 and full fiscal year ending December 31, 2022. As of June 1, 2022, the Company continues to expect revenue of $101 to $103 million and Adjusted EBITDA in the range of $27 to $29 million for the quarter ending June 30, 2022 and revenue of $439 to $445 million and Adjusted EBITDA in the range of $131 to $137 million for the full fiscal year ending December 31, 2022.
With respect to the Company’s expectations above, the Company has not reconciled the non-GAAP measure Adjusted EBITDA to the GAAP measure net income in this Current Report on Form 8-K (this “8-K”) because the Company does not provide guidance for stock-based compensation expense, depreciation and amortization expense, acquisition-related costs, interest income, and income taxes on a consistent basis as the Company is unable to quantify these amounts without unreasonable efforts, which would be required to include a reconciliation of Adjusted EBITDA to GAAP net income. In addition, the Company believes such a reconciliation would imply a degree of precision that could be confusing or misleading to investors.
The information in this Item 7.01 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing made by the Company under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing, unless expressly incorporated by specific reference in such filing.
Forward-Looking Statements
This 8-K contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and are intended to be covered by its “safe harbor” provisions. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “may,” “plan,” “seek,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe” or “continue” or the negative thereof or variations thereon or similar terminology. The statements in this 8-K regarding future revenues, earnings, margins, financial performance or results of operations, and any other statements that are not historical facts are forward-looking statements. Forward-looking statements are subject to known and unknown risks and uncertainties, many of which may be beyond the Company’s control. The Company cautions you that the forward-looking information presented in this 8-K is not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking information contained in this 8-K.
These risks, uncertainties, assumptions and other factors include, but are not limited to, the competitiveness of our market, economic downturns and unstable market conditions our ability to collect payments and the potential for our revenues and results of operations to fluctuate in the future. Moreover, we operate in a very competitive and rapidly changing environment, and new risks may emerge from time to time. It is not possible for us to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results or outcomes to differ materially from those contained in any forward-looking statements we may make.
Further information on these and additional risks, uncertainties, and other factors that could cause actual outcomes and results to differ materially from those included in or contemplated by the forward-looking statements contained in this 8-K are included under the caption “Risk Factors” under the Company’s Annual Report on Form 10-K filed with the SEC on March 8, 2022 and other filings and reports the Company makes with the SEC from time to time. The Company has based its forward-looking statements on management’s beliefs and assumptions based on information available to management at the time the statements are made. Any forward-looking information presented herein is made only as of the date of this 8-K, and, except as required by law, the Company does not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
DOUBLEVERIFY HOLDINGS, INC. | |||
By: | /s/ Nicola Allais | ||
Name: | Nicola Allais | ||
Title: | Chief Financial Officer | ||
Date: June 1, 2022 | |||