Second-quarter earnings calls usually serve as a brief interlude in the traditional summer lull for business news, but this week’s offerings in ad tech bucked that trend with one of the most renowned names in the sector set to be taken private, while others posted faltering revenue-growth rates, if not marked decline.
In summary, it was a week that’s likely to further fuel speculation that more public ad tech companies will follow the likes of the ad verification duo Integral Ad Science and DoubleVerify, plus LiveRamp, by exiting Wall Street in favor of ownership by strategic players or private equity.
Yesterday (August 6), DoubleVerify and Nielsen Holdings announced a definitive agreement for the TV-ratings giant to acquire the ad verification company in an all-cash transaction valued at approximately $2.15 billion, with the union expected to be made official by the close of the first quarter next year.
DoubleVerify shareholders will receive $13.60 per share, placing a 30% premium over its 60-day volume-weighted average price, in an all-cash transaction, according to the official announcement, with the revelation coming the same day as the ad verification company disclosed total revenues of $193.8 million, an increase of 3%, in the second quarter of the year.
Wall St exodus?
Nielsen’s planned exit from the public markets mirrors that of its long-time rival IAS – it was taken private by PE firm Novacap for just under $2 billion earlier this year, and now boasts new leadership – with the approximate $2 billion exit price for both companies some way below their respective peak valuations after both made an initial public offering in 2021.
The proposed deal also mirrors LiveRamp’s planned exit from the New York Stock Exchange – it posted revenues of $214 million, representing a 10% annual increase for the same reporting period on August 5 – with the data onboarding outfit’s planned takeover by Publicis Groupe expected to close by the end of 2026.
Meanwhile, Criteo’s $428 million revenue haul for the same period equated to a 14% annual decline in revenue, numbers that are likely to further fuel speculation that it too will seek to forge a future in private ownership, with PE firms Vista Equity Partners and Quinti Capital, reportedly interested in such a move.
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TTD falls short, Teads suspends guidance
Elsewhere this week, The Trade Desk posted 3% year-over-year revenue growth in Q2, with revenue totaling $715 million for the three months to June 30, while its total revenue for the first half of 2026 came in at $1.4 billion, equating to 7% growth. Compare these numbers to the corresponding growth rates posted 12 months ago – 19% in Q2, 2025, and 22% for the first half of the year – the steepening scale of the challenges facing the demand-side platform, which is typically viewed as the talisman for independent ad tech, is in evidence.
“This quarter did not meet the standard we set for ourselves, but it has reinforced our belief that we are focused on the right opportunities for the future,” said Jeff Green, Co-Founder and CEO of The Trade Desk, in a pre-prepared statement, which also posted third quarter guidance of at least $650 million in revenue.
“Marketers are navigating a complex environment, but complexity increases the value of decisioning, measurement, and AI. We have a clear understanding of the factors that impacted our performance, and we are taking decisive action to strengthen our execution, upgrade our platform, and sharpen our focus on the areas where we can create the greatest value.”
The Trade Desk’s stock price tumbled 23% in the immediate aftermath of the disclosure, although its modest growth rates contrasted starkly with Q2 revenue numbers posted by Teads – $284.6 million equating to a 17% annual decline, while its $550.6 million haul for the first half of the year represented a 13% annual dip – which also suspended its earlier Q3 revenue guidance.
However, revenue numbers posted this week by the sector’s leading independent supply-side platforms, Magnite and PubMatic, bucked the downward trend, with both reporting an 11% annual increase in revenue in the second quarter, totaling $192.8 million and $78.6 million, respectively.