NEW YORK–(BUSINESS WIRE)–DoubleVerify Holdings, Inc. (NYSE: DV), one of the leading software platforms for digital media measurement, data and analytics, today announced that its Board of Directors has authorized the repurchase of up to $150 million of DV’s outstanding common stock (the “Repurchase Program”). Under the Repurchase Program, DV may repurchase for cash from time to time shares of its common stock through open market purchases pursuant to Rule 10b-18 and/or Rule 10b5-1 plans, in compliance with applicable securities laws and other legal requirements. The volume and timing of any repurchases will be subject to general market conditions, as well as DV’s management of capital, other investment opportunities, and other factors. The Repurchase Program does not obligate DV to repurchase any specific number of shares, has no time limit, and may be modified, suspended, or discontinued at any time at the company’s discretion.
DV currently expects to fund the Repurchase Program from existing cash on hand and future cash flows. As of March 31, 2024, DV had cash and cash equivalents of approximately $302 million. DV had approximately 172 million shares of common stock outstanding as of April 29, 2024.
About DoubleVerify
DoubleVerify is the industry’s leading media effectiveness platform that leverages AI to drive superior outcomes for global brands. By creating more effective, transparent ad transactions, we make the digital advertising ecosystem stronger, safer and more secure, thereby preserving the fair value exchange between buyers and sellers of digital media. Learn more at www.doubleverify.com.
