As the Q1 earnings season comes to a close, it’s time to take stock of this quarter’s best and worst performers in the advertising software industry, including DoubleVerify (NYSE: DV) and its peers.

The digital advertising market is large, growing, and becoming more diverse, both in terms of audiences and media. As a result, there is a growing need for software that enables advertisers to use data to automate and optimize ad placements.

The 6 advertising software stocks we track reported a strong Q1. As a group, revenues beat analysts’ consensus estimates by 2.8% while next quarter’s revenue guidance was 0.6% above.

In light of this news, share prices of the companies have held steady as they are up 3.3% on average since the latest earnings results.

DoubleVerify (NYSE: DV)

Using advanced analytics to evaluate over 17 billion digital ad transactions daily, DoubleVerify (NYSE: DV) provides AI-powered technology that verifies digital ads are viewable, fraud-free, brand-suitable, and displayed in the intended geographic location.

DoubleVerify reported revenues of $180.8 million, up 9.6% year on year. This print was in line with analysts’ expectations, and overall, it was a satisfactory quarter for the company with a solid beat of analysts’ EBITDA estimates but full-year revenue guidance meeting analysts’ expectations.

“We continued our solid execution in the first quarter - reporting 10% year-over-year growth in revenue, while delivering strong 31% adjusted EBITDA margins,” said Mark Zagorski, CEO of DoubleVerify.

DoubleVerify delivered the weakest full-year guidance update among its peers. Even though it had a relatively good quarter, the market seems discontent with the results. The stock is down 2.7% since reporting and currently trades at $10.85.

Is now the time to buy DoubleVerify? Access our full analysis of the earnings results here, it’s free.

Best Q1: PubMatic (NASDAQ: PUBM)

Powering billions of daily ad impressions across the open internet, PubMatic (NASDAQ: PUBM) operates a technology platform that helps publishers maximize revenue from their digital advertising inventory while giving advertisers more control and transparency.

PubMatic reported revenues of $62.57 million, down 2% year on year, outperforming analysts’ expectations by 4.4%. The business had an exceptional quarter with EBITDA guidance for next quarter exceeding analysts’ expectations and an impressive beat of analysts’ EBITDA estimates.

PubMatic scored the highest guidance raise of the whole group. The market seems happy with the results as the stock is up 23.6% since reporting. It currently trades at $12.66.

Is now the time to buy PubMatic? Access our full analysis of the earnings results here, it’s free.

Weakest Q1: The Trade Desk (NASDAQ: TTD)

Built as an alternative to "walled garden" advertising ecosystems, The Trade Desk (NASDAQ: TTD) provides a cloud-based platform that helps advertisers and agencies plan, manage, and optimize digital advertising campaigns across multiple channels and devices.

The Trade Desk reported revenues of $688.9 million, up 11.8% year on year, exceeding analysts’ expectations by 1.4%. Still, it was a slower quarter as it posted revenue guidance for next quarter missing analysts’ expectations significantly and EBITDA guidance for next quarter missing analysts’ expectations significantly.

The Trade Desk delivered the weakest guidance update in the group. As expected, the stock is down 25.1% since the results and currently trades at $17.60.

Read our full analysis of The Trade Desk’s results here.

AppLovin (NASDAQ: APP)

Sitting at the crossroads of the mobile advertising ecosystem with over 200 free-to-play games in its portfolio, AppLovin (NASDAQ: APP) provides software solutions that help mobile app developers market, monetize, and grow their apps through AI-powered advertising and analytics tools.

AppLovin reported revenues of $1.84 billion, up 59% year on year. This print topped analysts’ expectations by 3.9%. Overall, it was a very strong quarter as it also put up an impressive beat of analysts’ EBITDA estimates and EBITDA guidance for next quarter topping analysts’ expectations.

AppLovin scored the fastest revenue growth among its peers. The stock is down 11.8% since reporting and currently trades at $413.46.

Read our full, actionable report on AppLovin here, it’s free.

Zeta Global (NYSE: ZETA)

Powered by an AI engine that processes over one trillion consumer signals monthly, Zeta Global (NYSE: ZETA) operates a data-driven cloud platform that helps companies target, connect, and engage with consumers through personalized marketing across channels like email, social media, and video.

Zeta Global reported revenues of $396.3 million, up 49.9% year on year. This number beat analysts’ expectations by 7%. It was a very strong quarter as it also recorded an impressive beat of analysts’ billings estimates and a solid beat of analysts’ EBITDA estimates.

Zeta Global achieved the biggest analyst estimate beat and highest full-year guidance raise in the group. The stock is up 9.5% since reporting and currently trades at $20.17.

Read our full, actionable report on Zeta Global here, it’s free.

Market Update

Over the past year, investors have been forced to repeatedly answer the same question: what is the market’s biggest risk? The answer has changed several times, and each shift has reshaped market leadership.

Late in 2025 and early 2026, artificial intelligence became the market’s primary uncertainty. Investors questioned whether AI would erode software pricing power and weaken competitive moats as AI made it easier to replicate once-differentiated products.

By the spring, technology took a back seat to geopolitics. The U.S. conflict with Iran briefly became the market’s dominant narrative, raising concerns about oil prices, inflation, and global growth. But as energy markets remained orderly and fears of a prolonged supply disruption faded, investors quickly turned their focus back to fundamentals.

Want to invest in winners with rock-solid fundamentals? Check out our Top 6 Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.