Research from Atrium Research, Atrium Research Corporation

Atrium Research

Research from Atrium Research

Atrium Research Corporation

Atrium Research provides institutional quality issuer paid research on public equities in North America. Our investment philosophy takes a 3-5 year view on equities currently being overlooked by the market. Our research process emphasizes understanding the key performance metrics for each specific company, trustworthy management teams, unit economics, and an in-depth valuation analysis. 

Our research product includes in-depth initiation reports, research notes, thematic research pieces, and company fact sheets.

Equity Bottom-Up

<ul>
<li>Public ad-tech equities are trading at historically low multiples, especially in Canada, despite consistent positive revenue growth and a pivot toward margin expansion.</li>
<li>Regulatory disruption and cookie deprecation are accelerating the shift to first-party data, contextual targeting, and AI-driven personalization.</li>
<li>Emerging channels like Connected TV and Retail Media are expanding monetization potential, creating asymmetric upside for nimble, vertically focused platforms.</li>
</ul>


Public ad-tech equities are trading at historically low multiples, especially in Canada, despite consistent positive revenue growth and a pivot toward margin expansion.
Regulatory disruption and cookie deprecation are accelerating the shift to first-party data, contextual targeting, and AI-driven personalization.
Emerging channels like Connected TV and Retail Media are expanding monetization potential, creating asymmetric upside for nimble, vertically focused platforms.


Ad-Tech Primer: Investing in the Future of Digital Advertising

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

<ul><li>DoubleVerify Holdings (DV) reported notable growth in its second quarter of 2025, with revenues rising by 21% to $189 million, surpassing the company's previously revised guidance.</li><li>This result reflects broad-based expansion across DV's three key revenue areas: activation, measurement, and supply side.</li><li>The advertiser business, representing 91% of the company's total revenue, also mirrored this robust growth rate of 21%, marking its strongest quarterly growth since late 2023.</li></ul>

DoubleVerify Holdings (DV) reported notable growth in its second quarter of 2025, with revenues rising by 21% to $189 million, surpassing the company's previously revised guidance.This result reflects broad-based expansion across DV's three key revenue areas: activation, measurement, and supply side.The advertiser business, representing 91% of the company's total revenue, also mirrored this robust growth rate of 21%, marking its strongest quarterly growth since late 2023.

DoubleVerify Is Winning With Programmatic Ads — But How Far Can Flexible Pricing Take It?

<ul><li>DoubleVerify, a company providing digital media measurement solutions, concluded 2024 with several notable achievements and a number of challenges that shape both its financial performance and future outlook.</li><li>Overall, DoubleVerify delivered substantial growth in revenue, achieving a 15% year-over-year increase to $657 million.</li><li>This growth was driven by significant momentum across its three main revenue streams.</li></ul>

DoubleVerify, a company providing digital media measurement solutions, concluded 2024 with several notable achievements and a number of challenges that shape both its financial performance and future outlook.Overall, DoubleVerify delivered substantial growth in revenue, achieving a 15% year-over-year increase to $657 million.This growth was driven by significant momentum across its three main revenue streams.

DoubleVerify Just Partnered With Meta and TikTok—Is This the Ultimate Social Media Power Play?

<ul><li>DoubleVerify's third-quarter 2024 financial results reveal a company navigating a complex landscape yet reporting solid growth and profitability.</li><li>DoubleVerify, which offers software for digital media measurement and analytics, saw its revenue increase by 18% year-over-year, demonstrating resilience despite notable challenges such as reductions in ad spending by significant customers and shifts from open exchange programmatic spending.</li><li>Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.</li></ul>

DoubleVerify's third-quarter 2024 financial results reveal a company navigating a complex landscape yet reporting solid growth and profitability.DoubleVerify, which offers software for digital media measurement and analytics, saw its revenue increase by 18% year-over-year, demonstrating resilience despite notable challenges such as reductions in ad spending by significant customers and shifts from open exchange programmatic spending.Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.

DoubleVerify Holdings: Expanding Social Solutions To Possibly Disrupt the Market! - Major Drivers

<ul><li>DoubleVerify, a leader in media quality and performance solutions, had a pivotal second quarter in 2024, managing to reaccelerate their revenue growth trajectory, powered by a strong push in social and CTV measurement and ongoing growth in their supply-side platform business, notably driven by the expansive retail media sector.</li><li>Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.</li><li>In this report, we have carried out a fundamental analysis of the historical financial statements of the company.</li></ul>

DoubleVerify, a leader in media quality and performance solutions, had a pivotal second quarter in 2024, managing to reaccelerate their revenue growth trajectory, powered by a strong push in social and CTV measurement and ongoing growth in their supply-side platform business, notably driven by the expansive retail media sector.Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.In this report, we have carried out a fundamental analysis of the historical financial statements of the company.

DoubleVerify Holdings Inc.: Expanded Cross-Platform Measurement Capabilities & Other Major Drivers

United States

DoubleVerify Holdings, Inc. operates as a holding company. The Company, through its subsidiaries, provides software platform for digital media measurement and analytics. DoubleVerify Holdings serves customers worldwide.

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DoubleVerify (DV US)

Ad-Tech Primer: Investing in the Future of Digital Advertising

Public ad-tech equities are trading at historically low multiples, especially in Canada, despite consistent positive revenue growth and a pivot...

Atrium Research

DoubleVerify Is Winning With Programmatic Ads — But How Far Can Flexible Pricing Take It?

DoubleVerify Holdings (DV) reported notable growth in its second quarter of 2025, with revenues rising by 21% to $189 million, surpassing the...

Baptista Research

DoubleVerify Holdings Inc.: Expanded Cross-Platform Measurement Capabilities & Other Major Drivers

DoubleVerify, a leader in media quality and performance solutions, had a pivotal second quarter in 2024, managing to reaccelerate their revenue...

Baptista Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Ad-Tech Primer: Investing in the Future of Digital Advertising

Public ad-tech equities are trading at historically low multiples, especially in Canada, despite consistent positive revenue growth and a pivot...

Atrium Research

DoubleVerify Is Winning With Programmatic Ads — But How Far Can Flexible Pricing Take It?

DoubleVerify Holdings (DV) reported notable growth in its second quarter of 2025, with revenues rising by 21% to $189 million, surpassing the...

Baptista Research

DoubleVerify Just Partnered With Meta and TikTok—Is This the Ultimate Social Media Power Play?

DoubleVerify, a company providing digital media measurement solutions, concluded 2024 with several notable achievements and a number of challenges...

Baptista Research

DoubleVerify Holdings: Expanding Social Solutions To Possibly Disrupt the Market! - Major Drivers

DoubleVerify's third-quarter 2024 financial results reveal a company navigating a complex landscape yet reporting solid growth and...

Baptista Research

DoubleVerify Holdings Inc.: Expanded Cross-Platform Measurement Capabilities & Other Major Drivers

DoubleVerify, a leader in media quality and performance solutions, had a pivotal second quarter in 2024, managing to reaccelerate their revenue...

Baptista Research