DoubleVerify Holdings Inc (DV)

Gross profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Gross profit	US$ in thousands	211,158	149,147	89,379
Revenue	US$ in thousands	572,598	450,433	332,738
Gross profit margin		36.88%	33.11%	26.86%

December 31, 2023 calculation

Gross profit margin = Gross profit ÷ Revenue
= $211,158K ÷ $572,598K
= 36.88%

The gross profit margin of DoubleVerify Holdings Inc has exhibited a declining trend over the past three years. From 83.66% in 2021, it decreased to 82.79% in 2022, and further declined to 81.38% in 2023. This indicates that the company's cost of goods sold relative to its revenue has been increasing, leading to a lower percentage of revenue retained as gross profit. It is essential for the company to closely monitor and control its cost of goods sold to improve its gross profit margin and overall profitability.