DoubleVerify raises its full-year revenue forecast after closing Scibids deal By Investing.com
© Reuters. DoubleVerify (DV) raises its full-year revenue forecast after closing Scibids deal
DoubleVerify (NYSE:) shares rose modestly in early Thursday trade after the company raised its revenue forecast for the full year.
The company sees FY revenue in the range of $562 million-$572 million, an increase from the previous forecast of $557M to $569M. Analysts were looking for $563.4M in FY sales.
The company’s adjusted EBITDA for the full year is maintained at between $171M and $179M, while the consensus estimate for adjusted EBITDA was $175.8M.
For the third quarter, DoubleVerify anticipates revenue ranging from $137M to $141M, up from the previous guidance of $135M to $141M. The average analyst estimate stood at $138.2M.
The company’s adjusted EBITDA for the third quarter is expected to be between $39M and $41M, with the consensus estimate of $40.3M.
DoubleVerify also noted that its guidance for the third quarter and full year 2023 now includes the contribution from Scibids, following the closure of the acquisition of the AI-powered digital campaign optimization company.
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