Customer Spending PatternsDecelerating activation revenue growth, unknowns related to slowing spending patterns at several large CPG customers, and uncertainty on how the company will monetize as ad spending increasingly shifts to CTV make us cautious near-term on DV.
Market-Level IssuesDV's disappointing results year-to-date have coincided with weakness at IAS, suggesting issues at the market level.
Revenue GrowthCosts growth greater than revenue growth in 2Q.