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  "documentTitle": "DoubleVerify Holdings, Inc. (DV)",
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  "authorName": "Spruce Point Capital Management",
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      "text": "DV recently changed the name of its segment that reports International Revenue from \"Advertiser Direct\" to \"Measurement\". However, we also observe it slightly modified the wording for the segment's revenue recognition from \"point in time\" to \"over time\" which opens the door for greater discretion allowing management to manipulate revenue.",
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      "text": "However, we also observe it slightly modified the wording for the segment's revenue recognition from \"point in time\" to \"over time\" which opens the door for greater discretion allowing management to manipulate revenue.",
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      "text": "We recognize revenue at the point in time when we satisfy a performance obligation by transferring promised services to a customer. — Draft Prospectus Sept 22, 2020",
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      "text": "Source: DV Draft Prospectus, 2021 and 2022 10-K",
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      "text": "Liberal Revenue Recognition Change Made To The Segment Where Int'l Revenues Are Booked",
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