Mark Schilsky

All right. Hi, everyone. I am Mark Schilsky, JPMorgan's tech sector specialist. Thanks for joining today at our TMC Conference. I'm joined today by 2 members of DoubleVerify's management team: Mark Zagorski, CEO, and Nicola Allais, CFO. Gentlemen, thanks for joining. So let's get to it.

Mark Schilsky

Mark, you often have described DoubleVerify as the trust layer of the digital ecosystem. The industry has been moving more towards walled gardens, away from the open web. How has DoubleVerify's role in that world changed over the last couple of years? How do you see it going from here?

Mark Zagorski
CEO & Director

Yes. So the -- I think there's kind of a tale of 2 different challenges as we have evolved from kind of an open web trust layer to one which now is very well embedded into the walled gardens. In the open web, it was kind of the Wild West, but you could see what the challenges were, right? It was the open web. We acted as a layer between buyers and sellers of digital media on mobile, display, video, et cetera. As that's now evolved into playing that same role with walled gardens, it's a very different story. It's a walled garden, which in its definition, has opacity. You can't see into it, right?

And I think that is where our value really shines, which is when an advertiser is buying digital media on TikTok or on Meta or on YouTube. And there's an increasing amount of kind of obfuscation of what's