Citing increased demand from advertisers seeking “stability and clarity in an unstable” ad marketplace, brand safety analytics firm DoubleVerify Wednesday reported that second quarter revenue rose 43% to $109.8 million. Net income rose 60% to $10.3 million.
Activation -- the business of verifying and measuring ad impressions purchased through programmatic demand-side and social media platforms -- revenue grew 60% to $60.5 million.
DoubleVerify, which issues regular reports concerning connected TV and video ad fraud issues, said its CTV and social media measurement business increased by 56% and 26%, respectively, during the quarter. Overall measurement revenue rose 23% to $38.9 million.
The company raised its guidance to investors for the third quarter, projecting revenue of between $108 million and $110 million. Full year projections are projected to rise 35% to between $448 million to $450 million.
The company, which has expanded its coverage into monitoring ads in digital video games, is working with Twitch Ads to identify brand safe, live streamed content for advertisers.
DoubleVerify also cited expanded business from British Airways, Taco Bell, Universal Parks, Roshfrans, Meta, Asda, Califia Farms, Infiniti and Smile Direct.